MARB vs. NLSI
MARB (First Trust Merger Arbitrage ETF) and NLSI (Neos Long/Short Equity Income ETF) are both Long-Short funds. Both are actively managed. At a 0.14 correlation, their price movements are largely independent. MARB charges 2.30%/yr vs 2.89%/yr for NLSI.
Performance
MARB vs. NLSI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MARB achieves a 1.26% return, which is significantly lower than NLSI's 7.01% return.
MARB
- 1D
- 0.05%
- 1M
- 0.22%
- YTD
- 1.26%
- 6M
- 1.42%
- 1Y
- 6.18%
- 3Y*
- 4.29%
- 5Y*
- 2.64%
- 10Y*
- —
NLSI
- 1D
- -0.92%
- 1M
- 10.92%
- YTD
- 7.01%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MARB vs. NLSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MARB First Trust Merger Arbitrage ETF | 1.26% | 0.26% |
NLSI Neos Long/Short Equity Income ETF | 7.01% | 1.90% |
Correlation
The correlation between MARB and NLSI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.14 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MARB vs. NLSI — Risk / Return Rank
MARB
NLSI
MARB vs. NLSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Merger Arbitrage ETF (MARB) and Neos Long/Short Equity Income ETF (NLSI). 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.
| MARB | NLSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | — | — |
| Martin ratioReturn relative to average drawdown | 20.98 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MARB | NLSI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 1.04 | -0.68 |
Drawdowns
MARB vs. NLSI - Drawdown Comparison
The maximum MARB drawdown since its inception was -11.99%, smaller than the maximum NLSI drawdown of -13.82%. Use the drawdown chart below to compare losses from any high point for MARB and NLSI.
Loading charts...
Drawdown Indicators
| MARB | NLSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.99% | -13.82% | +1.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -3.67% | — | — |
Current DrawdownCurrent decline from peak | -0.00% | -1.33% | +1.33% |
Average DrawdownAverage peak-to-trough decline | -1.40% | -6.10% | +4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | — | — |
Volatility
MARB vs. NLSI - Volatility Comparison
Loading charts...
Volatility by Period
| MARB | NLSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 19.37% | -14.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.27% | 19.37% | -15.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.60% | 19.37% | -13.77% |
MARB vs. NLSI - Expense Ratio Comparison
MARB has a 2.30% expense ratio, which is lower than NLSI's 2.89% expense ratio.
Dividends
MARB vs. NLSI - Dividend Comparison
MARB's dividend yield for the trailing twelve months is around 2.98%, more than NLSI's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MARB First Trust Merger Arbitrage ETF | 2.98% | 3.01% | 2.11% | 2.20% | 0.99% |
NLSI Neos Long/Short Equity Income ETF | 2.42% | 0.46% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MARB and NLSI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MARB is cheaper at 2.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MARB is cheaper with a 2.30% expense ratio, compared with 2.89% for NLSI.
MARB has the higher dividend yield at 2.98%, compared with 2.42% for NLSI.
They also come from different issuers: First Trust and Neos. Their fees differ too: 2.30% for MARB and 2.89% for NLSI.
Find the right allocation for MARB and NLSI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer