NBGIX vs. SPY

Last updated Jun 23, 2026

NBGIX (Neuberger Berman Genesis Fund Institutional Class) and SPY (State Street SPDR S&P 500 ETF) are both funds - NBGIX is a Small Cap Growth Equities fund managed by Neuberger Berman, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, NBGIX returned 9.56%/yr vs 15.70%/yr for SPY. Their correlation of 0.84 suggests significant overlap in exposure. NBGIX charges 0.84%/yr vs 0.09%/yr for SPY.

Performance

NBGIX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Genesis Fund Institutional Class (NBGIX) and State Street SPDR S&P 500 ETF (SPY). 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 NBGIX having a 9.90% return and SPY slightly lower at 9.74%. Over the past 10 years, NBGIX has underperformed SPY with an annualized return of 9.56%, while SPY has yielded a comparatively higher 15.70% annualized return.

NBGIX

• 1D: 2.11%
• 1M: 4.01%
• YTD: 9.90%
• 6M: 7.43%
• 1Y: 12.07%
• 3Y*: 6.50%
• 5Y*: 3.84%
• 10Y*: 9.56%

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

NBGIX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBGIX Neuberger Berman Genesis Fund Institutional Class	9.90%	-4.55%	9.20%	15.73%	-19.35%	18.25%	25.07%	29.68%	-6.76%	16.02%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between NBGIX and SPY is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 30, 1999	0.84

The correlation between NBGIX and SPY shifts across timeframes, from 0.67 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NBGIX vs. SPY — Risk / Return Rank

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

NBGIX

NBGIX Risk / Return Rank: 10
NBGIX Sharpe Ratio Rank: 9
NBGIX Sortino Ratio Rank: 10
NBGIX Omega Ratio Rank: 9
NBGIX Calmar Ratio Rank: 12
NBGIX Martin Ratio Rank: 11

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

NBGIX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Genesis Fund Institutional Class (NBGIX) and State Street SPDR S&P 500 ETF (SPY). 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.

	NBGIX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.72	2.16	-1.43
Sortino ratio: Return per unit of downside risk	1.20	2.91	-1.71
Omega ratio: Gain probability vs. loss probability	1.13	1.39	-0.26
Calmar ratio: Return relative to maximum drawdown	1.10	3.01	-1.91
Martin ratio: Return relative to average drawdown	2.93	13.54	-10.61

NBGIX vs. SPY - Sharpe Ratio Comparison

The current NBGIX Sharpe Ratio is 0.72, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of NBGIX and SPY, 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

NBGIX vs. SPY - Drawdown Comparison

The maximum NBGIX drawdown since its inception was -51.62%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NBGIX and SPY.

Drawdown Indicators

	NBGIX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-51.62%	-55.19%	+3.57%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-8.88%	-1.87%
Max Drawdown (3Y) Largest decline over 3 years	-27.48%	-18.76%	-8.72%
Max Drawdown (5Y) Largest decline over 5 years	-28.27%	-24.50%	-3.77%
Max Drawdown (10Y) Largest decline over 10 years	-34.53%	-33.72%	-0.81%
Current Drawdown Current decline from peak	-6.24%	-1.75%	-4.49%
Average Drawdown Average peak-to-trough decline	-7.47%	-9.04%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	1.97%	+2.05%

Volatility

NBGIX vs. SPY - Volatility Comparison

Neuberger Berman Genesis Fund Institutional Class (NBGIX) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.71% and 4.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBGIX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	4.64%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	9.75%	+1.83%
Volatility (1Y) Calculated over the trailing 1-year period	16.30%	12.43%	+3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	17.14%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.24%	17.99%	+2.25%

NBGIX vs. SPY - Expense Ratio Comparison

NBGIX has a 0.84% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

NBGIX vs. SPY - Dividend Comparison

NBGIX's dividend yield for the trailing twelve months is around 14.93%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBGIX Neuberger Berman Genesis Fund Institutional Class	14.93%	16.41%	2.14%	3.13%	11.11%	10.91%	3.87%	6.00%	12.49%	14.10%	6.53%	11.28%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both NBGIX and SPY in my portfolio?

NBGIX and SPY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBGIX or SPY?

NBGIX has higher volatility (4.71%) compared to SPY (4.64%). In terms of maximum drawdown, NBGIX dropped -51.62% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs 0.72), 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.