NBET vs. ION

Last updated Apr 1, 2026

Compare and contrast key facts about Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Proshares S&P Global Core Battery Metals ETF (ION).

NBET and ION are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NBET is an actively managed fund by Neuberger Berman. It was launched on Apr 6, 2022. ION is a passively managed fund by ProShares that tracks the performance of the S&P Global Core Battery Metals Index - Benchmark TR Net. It was launched on Nov 29, 2022.

Performance

NBET vs. ION - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Proshares S&P Global Core Battery Metals ETF (ION). The values are adjusted to include any dividend payments, if applicable.

NBET vs. ION - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	26.41%	5.87%	30.30%	7.48%	-5.70%
ION Proshares S&P Global Core Battery Metals ETF	9.49%	108.37%	-20.02%	-14.10%	-8.86%

Returns By Period

In the year-to-date period, NBET achieves a 26.41% return, which is significantly higher than ION's 9.49% return.

NBET

• 1D: -0.98%
• 1M: 5.50%
• YTD: 26.41%
• 6M: 26.57%
• 1Y: 25.96%
• 3Y*: 21.62%
• 5Y*: —
• 10Y*: —

ION

• 1D: 2.98%
• 1M: -12.58%
• YTD: 9.49%
• 6M: 46.23%
• 1Y: 124.76%
• 3Y*: 16.44%
• 5Y*: —
• 10Y*: —

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

NBET vs. ION - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is higher than ION's 0.58% expense ratio.

NBET

Neuberger Berman Energy Transition & Infrastructure ETF

ION

Proshares S&P Global Core Battery Metals ETF

Return for Risk

NBET vs. ION — Risk / Return Rank

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

NBET

NBET Risk / Return Rank: 63
NBET Sharpe Ratio Rank: 70
NBET Sortino Ratio Rank: 62
NBET Omega Ratio Rank: 70
NBET Calmar Ratio Rank: 61
NBET Martin Ratio Rank: 54

ION

ION Risk / Return Rank: 97
ION Sharpe Ratio Rank: 98
ION Sortino Ratio Rank: 97
ION Omega Ratio Rank: 95
ION Calmar Ratio Rank: 97
ION Martin Ratio Rank: 97

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. ION - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Proshares S&P Global Core Battery Metals ETF (ION). 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	ION	Difference
Sharpe ratio Return per unit of total volatility	1.29	3.21	-1.93
Sortino ratio Return per unit of downside risk	1.63	3.47	-1.84
Omega ratio Gain probability vs. loss probability	1.27	1.47	-0.21
Calmar ratio Return relative to maximum drawdown	1.59	5.26	-3.67
Martin ratio Return relative to average drawdown	5.54	20.19	-14.66
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. ION - Sharpe Ratio Comparison

The current NBET Sharpe Ratio is 1.29, which is lower than the ION Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of NBET and ION, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NBET	ION	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	3.21	-1.93
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.37	+0.41

Correlation

The correlation between NBET and ION is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NBET vs. ION - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 2.30%, more than ION's 1.46% yield.

	TTM	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	2.30%	2.70%	2.43%	1.22%	0.87%
ION Proshares S&P Global Core Battery Metals ETF	1.46%	1.63%	1.74%	2.23%	0.13%

Drawdowns

NBET vs. ION - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, smaller than the maximum ION drawdown of -52.08%. Use the drawdown chart below to compare losses from any high point for NBET and ION.

Drawdown Indicators

	NBET	ION	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-52.08%	+33.36%
Max Drawdown (1Y) Largest decline over 1 year	-16.67%	-23.30%	+6.63%
Current Drawdown Current decline from peak	-1.55%	-13.04%	+11.49%
Average Drawdown Average peak-to-trough decline	-5.13%	-24.61%	+19.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	6.07%	-1.28%

Volatility

NBET vs. ION - Volatility Comparison

The current volatility for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) is 3.74%, while Proshares S&P Global Core Battery Metals ETF (ION) has a volatility of 15.13%. This indicates that NBET experiences smaller price fluctuations and is considered to be less risky than ION based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBET	ION	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	15.13%	-11.39%
Volatility (6M) Calculated over the trailing 6-month period	10.12%	30.44%	-20.32%
Volatility (1Y) Calculated over the trailing 1-year period	20.28%	39.07%	-18.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.61%	30.74%	-11.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	30.74%	-11.13%