NBET vs. EMLP

Last updated Aug 2, 2026

NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and EMLP (First Trust North American Energy Infrastructure Fund) are both Infrastructure Equities funds. Both are actively managed. Over the past 3 years, NBET returned 19.60%/yr vs 20.43%/yr for EMLP. Their 0.78 correlation means they have sometimes moved together and sometimes differently. NBET charges 0.65%/yr vs 0.96%/yr for EMLP.

Performance

NBET vs. EMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and First Trust North American Energy Infrastructure Fund (EMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBET achieves a 24.97% return, which is significantly higher than EMLP's 17.75% return.

NBET

• 1D: 0.93%
• 1M: 3.95%
• 6M: 14.68%
• YTD: 24.97%
• 1Y: 27.68%
• 3Y*: 19.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.70%

EMLP

• 1D: 0.37%
• 1M: 0.62%
• 6M: 11.20%
• YTD: 17.75%
• 1Y: 19.09%
• 3Y*: 20.43%
• 5Y*: 16.56%
• 10Y*: 10.12%
• ALL TIME*: 9.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMLP First Trust North American Energy Infrastructure Fund	$12.88M	$10.50M	$12.16M
NBET Neuberger Berman Energy Transition & Infrastructure ETF	$197.04K	$221.77K	$179.90K

NBET vs. EMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	24.97%	5.87%	30.30%	7.48%	-6.07%
EMLP First Trust North American Energy Infrastructure Fund	17.75%	9.67%	33.39%	8.05%	-2.26%

Correlation

The correlation between NBET and EMLP is 0.77, 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.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (All Time) Calculated using the full available price history since Apr 7, 2022	0.78

The correlation between NBET and EMLP has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

NBET vs. EMLP - Sectors Allocation Comparison

Sectors	NBET	EMLP
Energy	88.9%	25.9%
Utilities	8.6%	55.2%
Industrials	2.6%	8.6%
Basic Materials	0.9%	1.7%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

NBET vs. EMLP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBET

NBET Risk / Return Rank: 74
NBET Sharpe Ratio Rank: 77
NBET Sortino Ratio Rank: 74
NBET Omega Ratio Rank: 68
NBET Calmar Ratio Rank: 85
NBET Martin Ratio Rank: 66

EMLP

EMLP Risk / Return Rank: 80
EMLP Sharpe Ratio Rank: 78
EMLP Sortino Ratio Rank: 80
EMLP Omega Ratio Rank: 73
EMLP Calmar Ratio Rank: 89
EMLP Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBET vs. EMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and First Trust North American Energy Infrastructure Fund (EMLP). 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.

	NBET	EMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.78	0.00
Sortino ratio: Return per unit of downside risk	2.40	2.61	-0.21
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	3.30	3.72	-0.42
Martin ratio: Return relative to average drawdown	8.03	10.54	-2.51

NBET vs. EMLP - Sharpe Ratio Comparison

The current NBET Sharpe Ratio is 1.77, which is comparable to the EMLP Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of NBET and EMLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NBET vs. EMLP - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, smaller than the maximum EMLP drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for NBET and EMLP.

Drawdown Indicators

	NBET	EMLP	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-43.61%	+24.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-4.94%	-3.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.38%	-11.47%	-5.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.61%	—
Current Drawdown Current decline from peak	-3.76%	-1.94%	-1.82%
Average Drawdown Average peak-to-trough decline	-5.06%	-5.71%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	1.74%	+1.56%

Volatility

NBET vs. EMLP - Volatility Comparison

Neuberger Berman Energy Transition & Infrastructure ETF (NBET) has a higher volatility of 5.11% compared to First Trust North American Energy Infrastructure Fund (EMLP) at 3.87%. This indicates that NBET's price experiences larger fluctuations and is considered to be riskier than EMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBET	EMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	3.87%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	8.48%	+3.31%
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	10.36%	+4.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	14.49%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	17.67%	+1.76%

NBET vs. EMLP - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is lower than EMLP's 0.96% expense ratio.

Dividends

NBET vs. EMLP - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 2.41%, less than EMLP's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMLP First Trust North American Energy Infrastructure Fund	2.76%	3.18%	3.19%	3.92%	3.15%	3.29%	4.70%	3.71%	4.71%	3.80%	3.62%	4.63%
NBET Neuberger Berman Energy Transition & Infrastructure ETF	2.41%	2.70%	2.43%	1.22%	0.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBET and EMLP in my portfolio?

NBET and EMLP have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBET or EMLP?

NBET has higher volatility (5.11%) compared to EMLP (3.87%). In terms of maximum drawdown, NBET dropped -18.72% vs EMLP's -43.61%.

Which ETF is better, NBET or EMLP?

On 3-year performance, EMLP leads with 20.43% vs 19.60% for NBET. On fees, NBET is cheaper at 0.65% per year. On volatility, EMLP has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBET or EMLP?

Over the 3-year period, EMLP has performed better with a 20.43% return vs 19.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBET or EMLP?

NBET is cheaper with a 0.65% expense ratio, compared with 0.96% for EMLP.

Which ETF pays a higher dividend yield, NBET or EMLP?

EMLP has the higher dividend yield at 2.76%, compared with 2.41% for NBET.

What is the main difference between NBET and EMLP?

They also come from different issuers: Neuberger Berman and First Trust. Their fees differ too: 0.65% for NBET and 0.96% for EMLP.

Which has better risk-adjusted returns?

EMLP currently has the higher Sharpe Ratio (1.78 vs 1.77), 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.