NBET vs. MLPI

Last updated Apr 1, 2026

Compare and contrast key facts about Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Neos MLP & Energy Infrastructure High Income ETF (MLPI).

NBET and MLPI 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. MLPI is an actively managed fund by Neos. It was launched on Dec 17, 2025.

Performance

NBET vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

NBET vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
NBET Neuberger Berman Energy Transition & Infrastructure ETF	26.41%	1.79%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.27%	0.56%

Returns By Period

In the year-to-date period, NBET achieves a 26.41% return, which is significantly higher than MLPI's 17.27% return.

NBET

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

MLPI

• 1D: -0.40%
• 1M: 3.16%
• YTD: 17.27%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBET vs. MLPI - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is lower than MLPI's 0.68% expense ratio.

MLPI

Neos MLP & Energy Infrastructure High Income ETF

NBET

Neuberger Berman Energy Transition & Infrastructure ETF

Return for Risk

NBET vs. MLPI — 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

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. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). 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	MLPI	Difference
Sharpe ratio Return per unit of total volatility	1.29	—	—
Sortino ratio Return per unit of downside risk	1.63	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	1.59	—	—
Martin ratio Return relative to average drawdown	5.54	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NBET	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	7.48	-6.70

Correlation

The correlation between NBET and MLPI is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NBET vs. MLPI - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 2.30%, less than MLPI's 3.49% yield.

	TTM	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	2.30%	2.70%	2.43%	1.22%	0.87%
MLPI Neos MLP & Energy Infrastructure High Income ETF	3.49%	0.00%	0.00%	0.00%	0.00%

Drawdowns

NBET vs. MLPI - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, which is greater than MLPI's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for NBET and MLPI.

Drawdown Indicators

	NBET	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-2.78%	-15.94%
Max Drawdown (1Y) Largest decline over 1 year	-16.67%	—	—
Current Drawdown Current decline from peak	-1.55%	-1.19%	-0.36%
Average Drawdown Average peak-to-trough decline	-5.13%	-0.60%	-4.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	—	—

Volatility

Volatility by Period

	NBET	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.28%	11.12%	+9.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.61%	11.12%	+8.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	11.12%	+8.49%