FLXR vs. NML
FLXR (TCW Flexible Income ETF) and NML (Neuberger Berman MLP) are both funds - FLXR is a Multisector Bonds fund actively managed by TCW, while NML is a MLPs fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, FLXR returned 5.35% vs 21.15% for NML. At a correlation of -0.04, they often move in opposite directions. FLXR charges 0.40%/yr vs 2.72%/yr for NML.
Performance
FLXR vs. NML - Performance Comparison
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Returns By Period
In the year-to-date period, FLXR achieves a 1.28% return, which is significantly lower than NML's 19.29% return.
FLXR
- 1D
- 0.13%
- 1M
- 0.37%
- YTD
- 1.28%
- 6M
- 1.48%
- 1Y
- 5.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NML
- 1D
- 0.72%
- 1M
- -6.05%
- YTD
- 19.29%
- 6M
- 21.14%
- 1Y
- 21.15%
- 3Y*
- 26.04%
- 5Y*
- 22.96%
- 10Y*
- 9.77%
FLXR vs. NML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FLXR TCW Flexible Income ETF | 1.28% | 8.37% | 4.42% |
NML Neuberger Berman MLP | 19.29% | 4.36% | 21.32% |
Correlation
The correlation between FLXR and NML is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2024 | -0.04 |
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Return for Risk
FLXR vs. NML — Risk / Return Rank
FLXR
NML
FLXR vs. NML - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Flexible Income ETF (FLXR) and Neuberger Berman MLP (NML). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLXR | NML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.21 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 2.20 | +1.47 |
| Martin ratioReturn relative to average drawdown | 15.58 | 5.90 | +9.69 |
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Drawdowns
FLXR vs. NML - Drawdown Comparison
The maximum FLXR drawdown since its inception was -1.94%, smaller than the maximum NML drawdown of -90.48%. Use the drawdown chart below to compare losses from any high point for FLXR and NML.
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Drawdown Indicators
| FLXR | NML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.94% | -90.48% | +88.54% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -9.67% | +8.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.92% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.84% | — |
Current DrawdownCurrent decline from peak | -0.29% | -7.21% | +6.92% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -36.95% | +36.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 3.60% | -3.26% |
Volatility
FLXR vs. NML - Volatility Comparison
The current volatility for TCW Flexible Income ETF (FLXR) is 0.81%, while Neuberger Berman MLP (NML) has a volatility of 6.17%. This indicates that FLXR experiences smaller price fluctuations and is considered to be less risky than NML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXR | NML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 6.17% | -5.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.74% | 13.72% | -11.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.32% | 17.28% | -14.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 23.81% | -21.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.81% | 35.08% | -32.27% |
FLXR vs. NML - Expense Ratio Comparison
FLXR has a 0.40% expense ratio, which is lower than NML's 2.72% expense ratio.
Dividends
FLXR vs. NML - Dividend Comparison
FLXR's dividend yield for the trailing twelve months is around 5.81%, less than NML's 7.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLXR TCW Flexible Income ETF | 5.81% | 5.66% | 3.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NML Neuberger Berman MLP | 7.55% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
Frequently Asked Questions
FLXR and NML have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NML has higher volatility (6.17%) compared to FLXR (0.81%). In terms of maximum drawdown, FLXR dropped -1.94% vs NML's -90.48%.
FLXR currently has the higher Sharpe Ratio (2.32 vs 1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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