NBET vs. ENFR
NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and ENFR (Alerian Energy Infrastructure ETF) are both Infrastructure Equities funds. NBET is actively managed, while ENFR is passively managed. Over the past 3 years, NBET returned 19.60%/yr vs 26.80%/yr for ENFR. Their 0.74 correlation means they have sometimes moved together and sometimes differently. NBET charges 0.65%/yr vs 0.35%/yr for ENFR.
Performance
NBET vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, NBET achieves a 24.97% return, which is significantly lower than ENFR's 28.27% 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%
ENFR
- 1D
- 0.25%
- 1M
- 3.92%
- 6M
- 19.23%
- YTD
- 28.27%
- 1Y
- 29.02%
- 3Y*
- 26.80%
- 5Y*
- 21.89%
- 10Y*
- 12.14%
- ALL TIME*
- 8.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.27M | $3.93M | $3.16M | |
| $197.04K | $221.77K | $179.90K |
NBET vs. ENFR - 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% |
ENFR Alerian Energy Infrastructure ETF | 28.27% | 5.88% | 42.17% | 15.63% | -3.80% |
Correlation
The correlation between NBET and ENFR is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2022 | 0.74 |
The correlation between NBET and ENFR shifts across timeframes, from 0.74 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NBET vs. ENFR — Risk / Return Rank
NBET
ENFR
NBET vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Alerian Energy Infrastructure ETF (ENFR). 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 | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 3.33 | -0.03 |
| Martin ratioReturn relative to average drawdown | 8.03 | 8.16 | -0.14 |
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Drawdowns
NBET vs. ENFR - Drawdown Comparison
The maximum NBET drawdown since its inception was -18.72%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for NBET and ENFR.
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Drawdown Indicators
| NBET | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -68.28% | +49.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -8.64% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -17.38% | -15.58% | -1.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.64% | — |
Current DrawdownCurrent decline from peak | -3.76% | -2.57% | -1.19% |
Average DrawdownAverage peak-to-trough decline | -5.06% | -15.83% | +10.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 3.52% | -0.22% |
Volatility
NBET vs. ENFR - Volatility Comparison
The current volatility for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) is 5.11%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 5.44%. This indicates that NBET experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBET | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.44% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.79% | 12.30% | -0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.92% | 15.24% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 19.19% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.43% | 24.65% | -5.22% |
NBET vs. ENFR - Expense Ratio Comparison
NBET has a 0.65% expense ratio, which is higher than ENFR's 0.35% expense ratio.
Dividends
NBET vs. ENFR - Dividend Comparison
NBET's dividend yield for the trailing twelve months is around 2.41%, less than ENFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 3.91% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
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
With a correlation of 0.90, NBET and ENFR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ENFR has higher volatility (5.44%) compared to NBET (5.11%). In terms of maximum drawdown, NBET dropped -18.72% vs ENFR's -68.28%.
On 3-year performance, ENFR leads with 26.80% vs 19.60% for NBET. On fees, ENFR is cheaper at 0.35% per year. On volatility, NBET has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ENFR has performed better with a 26.80% return vs 19.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ENFR is cheaper with a 0.35% expense ratio, compared with 0.65% for NBET.
ENFR has the higher dividend yield at 3.91%, compared with 2.41% for NBET.
They also come from different issuers: Neuberger Berman and SS&C. Their fees differ too: 0.65% for NBET and 0.35% for ENFR.
ENFR currently has the higher Sharpe Ratio (1.89 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.
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