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NBET vs. XLE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NBET vs. XLE

Last updated Jun 24, 2026

NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both Energy Equities funds. NBET is actively managed, while XLE is passively managed. Over the past 3 years, NBET returned 19.86%/yr vs 15.73%/yr for XLE. A 0.56 correlation means they provide meaningful diversification when combined. NBET charges 0.65%/yr vs 0.08%/yr for XLE.

Performance

NBET vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NBET achieves a 20.80% return, which is significantly lower than XLE's 23.49% return.

NBET

1D
0.19%
1M
-5.87%
YTD
20.80%
6M
20.90%
1Y
23.09%
3Y*
19.86%
5Y*
—
10Y*
—

XLE

1D
0.74%
1M
-7.80%
YTD
23.49%
6M
24.07%
1Y
30.55%
3Y*
15.73%
5Y*
18.87%
10Y*
9.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NBET vs. XLE - Yearly Performance Comparison

2026 (YTD)2025202420232022
NBET
Neuberger Berman Energy Transition & Infrastructure ETF		20.80%5.87%30.30%7.48%-6.07%
XLE
State Street Energy Select Sector SPDR ETF		23.49%7.88%5.56%-0.63%18.24%

Correlation

The correlation between NBET and XLE 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 (1Y)
Calculated over the trailing 1-year period

0.81

Correlation (3Y)
Calculated over the trailing 3-year period

0.60

Correlation (All Time)
Calculated using the full available price history since Apr 7, 2022

0.56

Over the past year, NBET and XLE have become more correlated (0.81) than their long-term average of 0.56, meaning their price movements have been converging.

NBET vs. XLE - Sectors Allocation Comparison

Sectors
NBET
XLE

Energy

88.7%
100.0%

Utilities

9.0%

-

Industrials

2.3%

-

Basic Materials

0.9%

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Energy

NBET
88.7%
XLE
100.0%

Utilities

NBET
9.0%
XLE

-

Industrials

NBET
2.3%
XLE

-

Basic Materials

NBET
0.9%
XLE

-

Communication Services

NBET

-

XLE

-

Consumer Cyclical

NBET

-

XLE

-

Consumer Defensive

NBET

-

XLE

-

Financial Services

NBET

-

XLE

-

Healthcare

NBET

-

XLE

-

Real Estate

NBET

-

XLE

-

Technology

NBET

-

XLE

-

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Neuberger Berman Energy Transition & Infrastructure ETF

State Street Energy Select Sector SPDR ETF

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NBET vs. XLEINBET vs. NBOSNBET vs. NEMDNBET vs. LNGXNBET vs. NBSDNBET vs. BKGINBET vs. INFR
Often compared with XLE:
XLE vs. VDEXLE vs. USOXLE vs. XOPXLE vs. XLUXLE vs. XLKXLE vs. IXCXLE vs. FENY

Return for Risk

NBET vs. XLE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NBET
NBET Risk / Return Rank: 5151
Overall Rank
NBET Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
NBET Sortino Ratio Rank: 4747
Sortino Ratio Rank
NBET Omega Ratio Rank: 4444
Omega Ratio Rank
NBET Calmar Ratio Rank: 6464
Calmar Ratio Rank
NBET Martin Ratio Rank: 5050
Martin Ratio Rank
XLE
XLE Risk / Return Rank: 4242
Overall Rank
XLE Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
XLE Sortino Ratio Rank: 4141
Sortino Ratio Rank
XLE Omega Ratio Rank: 3939
Omega Ratio Rank
XLE Calmar Ratio Rank: 4545
Calmar Ratio Rank
XLE Martin Ratio Rank: 4242
Martin Ratio Rank
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. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) and State Street Energy Select Sector SPDR ETF (XLE). 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.

NBETXLEDifference
Sharpe ratioReturn per unit of total volatility
1.59
1.48

+0.11

Sortino ratioReturn per unit of downside risk
2.15
2.00

+0.15

Omega ratioGain probability vs. loss probability

1.26

1.25

+0.02

Calmar ratioReturn relative to maximum drawdown

2.90

2.18

+0.71

Martin ratioReturn relative to average drawdown

7.90

6.53

+1.37

NBET vs. XLE - Sharpe Ratio Comparison

The current NBET Sharpe Ratio is 1.59, which is comparable to the XLE Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of NBET and XLE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NBET vs. XLE - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for NBET and XLE.

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Drawdown Indicators

NBETXLEDifference

Max Drawdown

Largest peak-to-trough decline

-18.72%

-71.26%

+52.54%

Max Drawdown (1Y)

Largest decline over 1 year

-8.00%

-14.05%

+6.05%

Max Drawdown (3Y)

Largest decline over 3 years

-18.72%

-20.14%

+1.42%

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.04%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-66.81%

—

Current Drawdown

Current decline from peak

-6.98%

-12.32%

+5.34%

Average Drawdown

Average peak-to-trough decline

-5.07%

-17.96%

+12.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.93%

4.69%

-1.76%

Volatility

NBET vs. XLE - Volatility Comparison

The current volatility for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) is 4.77%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 7.12%. This indicates that NBET experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NBETXLEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.77%

7.12%

-2.35%

Volatility (6M)

Calculated over the trailing 6-month period

11.00%

16.82%

-5.82%

Volatility (1Y)

Calculated over the trailing 1-year period

14.66%

20.93%

-6.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.48%

25.98%

-6.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.48%

29.60%

-10.12%

NBET vs. XLE - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

NBET vs. XLE - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 1.71%, less than XLE's 2.79% yield.

PositionTTM20252024202320222021202020192018201720162015
NBET
Neuberger Berman Energy Transition & Infrastructure ETF		1.71%2.70%2.43%1.22%0.87%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XLE
State Street Energy Select Sector SPDR ETF		2.79%3.28%3.36%3.55%3.68%4.21%5.62%6.72%3.54%3.03%2.26%3.39%

Frequently Asked Questions

NBET and XLE 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.

XLE has higher volatility (7.12%) compared to NBET (4.77%). In terms of maximum drawdown, NBET dropped -18.72% vs XLE's -71.26%.

On 3-year performance, NBET leads with 19.86% vs 15.73% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, NBET has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, NBET has performed better with a 19.86% return vs 15.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLE is cheaper with a 0.08% expense ratio, compared with 0.65% for NBET.

XLE has the higher dividend yield at 2.79%, compared with 1.71% for NBET.

They also come from different issuers: Neuberger Berman and State Street. Their fees differ too: 0.65% for NBET and 0.08% for XLE.

NBET currently has the higher Sharpe Ratio (1.59 vs 1.48), 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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