NBET vs. FXN

Last updated Apr 17, 2026

NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and FXN (First Trust Energy AlphaDEX Fund) are both Energy Equities funds. NBET is actively managed, while FXN is passively managed. Over the past 3 years, NBET returned 20.18%/yr vs 12.32%/yr for FXN. A 0.61 correlation means they provide meaningful diversification when combined. NBET charges 0.65%/yr vs 0.64%/yr for FXN.

Performance

NBET vs. FXN - 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 Energy AlphaDEX Fund (FXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBET achieves a 21.67% return, which is significantly lower than FXN's 28.35% return.

NBET

• 1D: 1.12%
• 1M: -1.32%
• YTD: 21.67%
• 6M: 26.89%
• 1Y: 33.72%
• 3Y*: 20.18%
• 5Y*: —
• 10Y*: —

FXN

• 1D: 1.54%
• 1M: -0.29%
• YTD: 28.35%
• 6M: 38.90%
• 1Y: 55.89%
• 3Y*: 12.32%
• 5Y*: 19.14%
• 10Y*: 6.07%

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

NBET vs. FXN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	21.67%	5.87%	30.30%	7.48%	-6.09%
FXN First Trust Energy AlphaDEX Fund	28.35%	3.39%	0.27%	0.97%	10.30%

Correlation

The correlation between NBET and FXN is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022	0.61

The correlation between NBET and FXN shifts across timeframes, from 0.61 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NBET vs. FXN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NBET

NBET Risk / Return Rank: 64
NBET Sharpe Ratio Rank: 56
NBET Sortino Ratio Rank: 50
NBET Omega Ratio Rank: 51
NBET Calmar Ratio Rank: 89
NBET Martin Ratio Rank: 75

FXN

FXN Risk / Return Rank: 65
FXN Sharpe Ratio Rank: 62
FXN Sortino Ratio Rank: 56
FXN Omega Ratio Rank: 48
FXN Calmar Ratio Rank: 88
FXN Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NBET vs. FXN - 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 Energy AlphaDEX Fund (FXN). 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.

	NBET	FXN	Difference
Sharpe ratio Return per unit of total volatility	2.23	2.33	-0.10
Sortino ratio Return per unit of downside risk	2.92	3.04	-0.12
Omega ratio Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio Return relative to maximum drawdown	5.64	5.45	+0.19
Martin ratio Return relative to average drawdown	15.78	15.13	+0.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBET vs. FXN - Sharpe Ratio Comparison

The current NBET Sharpe Ratio is 2.23, which is comparable to the FXN Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of NBET and FXN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NBET	FXN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.33	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.05	+0.67

Drawdowns

NBET vs. FXN - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, smaller than the maximum FXN drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for NBET and FXN.

Drawdown Indicators

	NBET	FXN	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-87.39%	+68.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-10.53%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.63%	—
Current Drawdown Current decline from peak	-5.24%	-9.15%	+3.91%
Average Drawdown Average peak-to-trough decline	-5.12%	-38.21%	+33.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	3.79%	-1.55%

Volatility

NBET vs. FXN - Volatility Comparison

The current volatility for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) is 4.47%, while First Trust Energy AlphaDEX Fund (FXN) has a volatility of 7.42%. This indicates that NBET experiences smaller price fluctuations and is considered to be less risky than FXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBET	FXN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	7.42%	-2.95%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	16.08%	-6.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	24.27%	-9.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	29.03%	-9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	35.05%	-15.48%

NBET vs. FXN - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is higher than FXN's 0.64% expense ratio.

Dividends

NBET vs. FXN - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 2.39%, more than FXN's 1.87% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBET Neuberger Berman Energy Transition & Infrastructure ETF	2.39%	2.70%	2.43%	1.22%	0.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXN First Trust Energy AlphaDEX Fund	1.87%	2.53%	2.50%	3.09%	2.28%	0.87%	4.71%	1.47%	1.43%	1.17%	1.05%	2.36%