NBET vs. XLEI

Last updated Aug 2, 2026

NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both exchange-traded funds - NBET is a Infrastructure Equities fund actively managed by Neuberger Berman, while XLEI is a Energy Equities fund tracking the S&P Energy Select Sector. NBET is actively managed, while XLEI is passively managed. Over the past year, NBET returned 27.68% vs 35.36% for XLEI. Their correlation of 0.83 means they have usually moved in the same direction. NBET charges 0.65%/yr vs 0.35%/yr for XLEI.

Performance

NBET vs. XLEI - 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 Premium Income ETF (XLEI). 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 24.97% return and XLEI slightly lower at 24.56%.

NBET

• 1D: 0.93%
• 1M: 3.95%
• 6M: 14.68%
• YTD: 24.97%
• 1Y: 27.68%
• 3Y*: 19.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.70%

XLEI

• 1D: 0.78%
• 1M: 10.90%
• 6M: 15.89%
• YTD: 24.56%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NBET Neuberger Berman Energy Transition & Infrastructure ETF	$197.04K	$221.77K	$179.90K
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.55M	$1.39M	$1.31M

NBET vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
NBET Neuberger Berman Energy Transition & Infrastructure ETF	24.97%	1.09%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	24.56%	6.17%

Correlation

The correlation between NBET and XLEI is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.83

The correlation between NBET and XLEI has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.

NBET vs. XLEI - Sectors Allocation Comparison

Sectors	NBET	XLEI
Energy	88.9%	100.0%
Utilities	8.6%	-
Industrials	2.6%	-
Basic Materials	0.9%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	102.5%
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

NBET vs. XLEI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBET

NBET Risk / Return Rank: 74
NBET Sharpe Ratio Rank: 77
NBET Sortino Ratio Rank: 74
NBET Omega Ratio Rank: 68
NBET Calmar Ratio Rank: 85
NBET Martin Ratio Rank: 66

XLEI

XLEI Risk / Return Rank: 89
XLEI Sharpe Ratio Rank: 92
XLEI Sortino Ratio Rank: 88
XLEI Omega Ratio Rank: 89
XLEI Calmar Ratio Rank: 91
XLEI Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBET vs. XLEI - 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 Premium Income ETF (XLEI). 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	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.40	-0.63
Sortino ratio: Return per unit of downside risk	2.40	3.00	-0.59
Omega ratio: Gain probability vs. loss probability	1.29	1.41	-0.12
Calmar ratio: Return relative to maximum drawdown	3.30	4.11	-0.81
Martin ratio: Return relative to average drawdown	8.03	12.37	-4.34

NBET vs. XLEI - Sharpe Ratio Comparison

The current NBET Sharpe Ratio is 1.77, which is comparable to the XLEI Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of NBET and XLEI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NBET vs. XLEI - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, which is greater than XLEI's maximum drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for NBET and XLEI.

Drawdown Indicators

	NBET	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-8.19%	-10.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-8.19%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.38%	—	—
Current Drawdown Current decline from peak	-3.76%	0.00%	-3.76%
Average Drawdown Average peak-to-trough decline	-5.06%	-1.84%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	2.74%	+0.56%

Volatility

NBET vs. XLEI - Volatility Comparison

Neuberger Berman Energy Transition & Infrastructure ETF (NBET) has a higher volatility of 5.11% compared to State Street Energy Select Sector SPDR Premium Income ETF (XLEI) at 3.96%. This indicates that NBET's price experiences larger fluctuations and is considered to be riskier than XLEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBET	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	3.96%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	11.26%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	14.03%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	14.02%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	14.02%	+5.41%

NBET vs. XLEI - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is higher than XLEI's 0.35% expense ratio.

Dividends

NBET vs. XLEI - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 2.41%, less than XLEI's 18.37% yield.

Position	TTM	2025	2024	2023	2022
NBET Neuberger Berman Energy Transition & Infrastructure ETF	2.41%	2.70%	2.43%	1.22%	0.87%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	18.37%	10.17%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBET and XLEI in my portfolio?

NBET and XLEI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBET or XLEI?

NBET has higher volatility (5.11%) compared to XLEI (3.96%). In terms of maximum drawdown, NBET dropped -18.72% vs XLEI's -8.19%.

Which ETF is better, NBET or XLEI?

On 1-year performance, XLEI leads with 35.36% vs 27.68% for NBET. On fees, XLEI is cheaper at 0.35% per year. On volatility, XLEI has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBET or XLEI?

Over the 1-year period, XLEI has performed better with a 35.36% return vs 27.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBET or XLEI?

XLEI is cheaper with a 0.35% expense ratio, compared with 0.65% for NBET.

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

XLEI has the higher dividend yield at 18.37%, compared with 2.41% for NBET.

What is the main difference between NBET and XLEI?

NBET is categorized as Infrastructure Equities, while XLEI is Energy Equities. They also come from different issuers: Neuberger Berman and State Street. Their fees differ too: 0.65% for NBET and 0.35% for XLEI.

Which has better risk-adjusted returns?

XLEI currently has the higher Sharpe Ratio (2.40 vs 1.77), 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.