LONGX vs. NLSIX
LONGX (Longboard Fund) and NLSIX (Neuberger Berman Long Short Fund) are both Long-Short funds. Over the past 10 years, LONGX returned 25.01%/yr vs 6.83%/yr for NLSIX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. LONGX charges 1.99%/yr vs 1.28%/yr for NLSIX.
Performance
LONGX vs. NLSIX - Performance Comparison
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Returns By Period
In the year-to-date period, LONGX achieves a 13.89% return, which is significantly higher than NLSIX's 2.34% return. Over the past 10 years, LONGX has outperformed NLSIX with an annualized return of 25.01%, while NLSIX has yielded a comparatively lower 6.83% annualized return.
LONGX
- 1D
- 0.65%
- 1M
- 0.12%
- 6M
- 8.32%
- YTD
- 13.89%
- 1Y
- 17.09%
- 3Y*
- 11.08%
- 5Y*
- 5.05%
- 10Y*
- 25.01%
- ALL TIME*
- 21.46%
NLSIX
- 1D
- 0.83%
- 1M
- 0.73%
- 6M
- 2.95%
- YTD
- 2.34%
- 1Y
- 3.89%
- 3Y*
- 7.25%
- 5Y*
- 4.93%
- 10Y*
- 6.83%
- ALL TIME*
- 6.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
LONGX Longboard Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
LONGX vs. NLSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LONGX Longboard Fund | 13.89% | 1.49% | 14.95% | 5.64% | -13.21% | 13.89% | 27.70% | 13.82% | 270.32% | 19.08% |
NLSIX Neuberger Berman Long Short Fund | 2.34% | 7.20% | 7.47% | 13.10% | -6.85% | 9.01% | 15.27% | 17.11% | -6.92% | 13.39% |
Correlation
The correlation between LONGX and NLSIX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2015 | 0.55 |
The correlation between LONGX and NLSIX has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.
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Return for Risk
LONGX vs. NLSIX — Risk / Return Rank
LONGX
NLSIX
LONGX vs. NLSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Longboard Fund (LONGX) and Neuberger Berman Long Short Fund (NLSIX). 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.
| LONGX | NLSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 1.03 | +1.59 |
| Martin ratioReturn relative to average drawdown | 9.94 | 3.42 | +6.52 |
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Drawdowns
LONGX vs. NLSIX - Drawdown Comparison
The maximum LONGX drawdown since its inception was -77.16%, which is greater than NLSIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for LONGX and NLSIX.
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Drawdown Indicators
| LONGX | NLSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.16% | -14.75% | -62.41% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -4.39% | -2.70% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -6.90% | -7.67% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -10.79% | -8.49% |
Max Drawdown (10Y)Largest decline over 10 years | -77.16% | -14.75% | -62.41% |
Current DrawdownCurrent decline from peak | -0.87% | -0.58% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -7.28% | -2.01% | -5.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.31% | +0.55% |
Volatility
LONGX vs. NLSIX - Volatility Comparison
Longboard Fund (LONGX) and Neuberger Berman Long Short Fund (NLSIX) have volatilities of 2.43% and 2.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LONGX | NLSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 2.35% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 4.86% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.95% | 5.72% | +5.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.88% | 6.72% | +5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.78% | 7.36% | +130.42% |
LONGX vs. NLSIX - Expense Ratio Comparison
LONGX has a 1.99% expense ratio, which is higher than NLSIX's 1.28% expense ratio.
Dividends
LONGX vs. NLSIX - Dividend Comparison
LONGX has not paid dividends to shareholders, while NLSIX's dividend yield for the trailing twelve months is around 0.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LONGX Longboard Fund | 0.00% | 0.00% | 0.00% | 5.40% | 7.64% | 1.73% | 0.00% | 0.00% | 3.10% | 268.50% | 23.29% | 0.00% |
NLSIX Neuberger Berman Long Short Fund | 0.05% | 0.05% | 0.02% | 0.97% | 7.01% | 1.13% | 2.15% | 2.39% | 5.91% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
LONGX and NLSIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LONGX has higher volatility (2.43%) compared to NLSIX (2.35%). In terms of maximum drawdown, LONGX dropped -77.16% vs NLSIX's -14.75%.
LONGX currently has the higher Sharpe Ratio (1.70 vs 0.79), 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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