NBET vs. PBOG

Last updated Jul 14, 2026

NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both Energy Equities funds. NBET is actively managed, while PBOG is passively managed. Their correlation of 0.81 suggests significant overlap in exposure. NBET charges 0.65%/yr vs 0.13%/yr for PBOG.

Performance

NBET vs. PBOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NBET having a 24.88% return and PBOG slightly lower at 24.85%.

NBET

• 1D: 1.82%
• 1M: 1.45%
• 6M: 24.10%
• YTD: 24.88%
• 1Y: 27.27%
• 3Y*: 19.42%
• 5Y*: —
• 10Y*: —

PBOG

• 1D: 3.41%
• 1M: -2.34%
• 6M: 23.39%
• YTD: 24.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBET vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
NBET Neuberger Berman Energy Transition & Infrastructure ETF	24.88%	0.17%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	24.85%	1.39%

Correlation

The correlation between NBET and PBOG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.81

Return for Risk

NBET vs. PBOG — Risk / Return Rank

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

NBET

NBET Risk / Return Rank: 69
NBET Sharpe Ratio Rank: 72
NBET Sortino Ratio Rank: 68
NBET Omega Ratio Rank: 62
NBET Calmar Ratio Rank: 81
NBET Martin Ratio Rank: 61

PBOG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. PBOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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	PBOG	Difference
Sharpe ratio: Return per unit of total volatility	1.82	—	—
Sortino ratio: Return per unit of downside risk	2.47	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	3.42	—	—
Martin ratio: Return relative to average drawdown	8.53	—	—

Drawdowns

NBET vs. PBOG - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, roughly equal to the maximum PBOG drawdown of -19.24%. Use the drawdown chart below to compare losses from any high point for NBET and PBOG.

Drawdown Indicators

	NBET	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-19.24%	+0.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	—	—
Current Drawdown Current decline from peak	-3.83%	-12.00%	+8.17%
Average Drawdown Average peak-to-trough decline	-5.08%	-4.92%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	—	—

Volatility

Volatility by Period

	NBET	PBOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	24.22%	-9.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	24.22%	-4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.47%	24.22%	-4.75%

NBET vs. PBOG - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is higher than PBOG's 0.13% expense ratio.

Dividends

NBET vs. PBOG - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 2.41%, more than PBOG's 0.14% yield.

Position	TTM	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	2.41%	2.70%	2.43%	1.22%	0.87%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.14%	0.17%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBET and PBOG in my portfolio?

NBET and PBOG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBET or PBOG?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBET or PBOG?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.65% for NBET.

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

NBET has the higher dividend yield at 2.41%, compared with 0.14% for PBOG.

What is the main difference between NBET and PBOG?

They also come from different issuers: Neuberger Berman and Portfolio Building Blocks. Their fees differ too: 0.65% for NBET and 0.13% for PBOG.