NBHIX vs. VOOG

Last updated Jun 3, 2026

NBHIX (Neuberger Berman Equity Income Fund) and VOOG (Vanguard S&P 500 Growth ETF) are both funds - NBHIX is a Large Cap Value Equities fund managed by Neuberger Berman, while VOOG is a S&P 500 fund tracking the S&P 500 Growth Index. Over the past 10 years, NBHIX returned 9.41%/yr vs 18.26%/yr for VOOG. A 0.74 correlation means they provide meaningful diversification when combined. NBHIX charges 0.70%/yr vs 0.07%/yr for VOOG.

Performance

NBHIX vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Equity Income Fund (NBHIX) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBHIX achieves a 5.49% return, which is significantly lower than VOOG's 14.85% return. Over the past 10 years, NBHIX has underperformed VOOG with an annualized return of 9.41%, while VOOG has yielded a comparatively higher 18.26% annualized return.

NBHIX

• 1D: -1.28%
• 1M: -1.10%
• YTD: 5.49%
• 6M: 5.77%
• 1Y: 13.75%
• 3Y*: 14.45%
• 5Y*: 8.36%
• 10Y*: 9.41%

VOOG

• 1D: -0.15%
• 1M: 8.31%
• YTD: 14.85%
• 6M: 14.86%
• 1Y: 36.07%
• 3Y*: 28.53%
• 5Y*: 16.56%
• 10Y*: 18.26%

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

NBHIX vs. VOOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBHIX Neuberger Berman Equity Income Fund	5.49%	17.69%	13.38%	3.87%	-4.24%	21.67%	3.00%	21.52%	-5.57%	13.26%
VOOG Vanguard S&P 500 Growth ETF	14.85%	22.11%	35.89%	29.96%	-29.48%	31.95%	33.35%	30.93%	-0.21%	27.19%

Correlation

The correlation between NBHIX and VOOG is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.74

Over the past year, the correlation between NBHIX and VOOG has dropped to 0.43 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

NBHIX vs. VOOG — Risk / Return Rank

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

NBHIX

NBHIX Risk / Return Rank: 21
NBHIX Sharpe Ratio Rank: 23
NBHIX Sortino Ratio Rank: 20
NBHIX Omega Ratio Rank: 23
NBHIX Calmar Ratio Rank: 19
NBHIX Martin Ratio Rank: 21

VOOG

VOOG Risk / Return Rank: 63
VOOG Sharpe Ratio Rank: 69
VOOG Sortino Ratio Rank: 66
VOOG Omega Ratio Rank: 64
VOOG Calmar Ratio Rank: 54
VOOG Martin Ratio Rank: 62

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.

NBHIX vs. VOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Equity Income Fund (NBHIX) and Vanguard S&P 500 Growth ETF (VOOG). 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.

	NBHIX	VOOG	Difference
Sharpe ratio Return per unit of total volatility	1.40	2.29	-0.89
Sortino ratio Return per unit of downside risk	1.93	3.07	-1.14
Omega ratio Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio Return relative to maximum drawdown	1.63	2.72	-1.09
Martin ratio Return relative to average drawdown	5.55	11.28	-5.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBHIX vs. VOOG - Sharpe Ratio Comparison

The current NBHIX Sharpe Ratio is 1.40, which is lower than the VOOG Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of NBHIX and VOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NBHIX	VOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	2.29	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.79	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.88	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.91	-0.39

Drawdowns

NBHIX vs. VOOG - Drawdown Comparison

The maximum NBHIX drawdown since its inception was -40.07%, which is greater than VOOG's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for NBHIX and VOOG.

Drawdown Indicators

	NBHIX	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-40.07%	-32.73%	-7.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	-13.71%	+4.99%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	-22.18%	+10.96%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-32.73%	+14.83%
Max Drawdown (10Y) Largest decline over 10 years	-33.97%	-32.73%	-1.24%
Current Drawdown Current decline from peak	-5.05%	-0.15%	-4.90%
Average Drawdown Average peak-to-trough decline	-4.93%	-4.97%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	3.31%	-0.75%

Volatility

NBHIX vs. VOOG - Volatility Comparison

The current volatility for Neuberger Berman Equity Income Fund (NBHIX) is 3.18%, while Vanguard S&P 500 Growth ETF (VOOG) has a volatility of 4.14%. This indicates that NBHIX experiences smaller price fluctuations and is considered to be less risky than VOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBHIX	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	4.14%	-0.96%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	12.39%	-3.71%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	15.83%	-5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.63%	21.19%	-7.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.75%	20.73%	-5.98%

NBHIX vs. VOOG - Expense Ratio Comparison

NBHIX has a 0.70% expense ratio, which is higher than VOOG's 0.07% expense ratio.

Dividends

NBHIX vs. VOOG - Dividend Comparison

NBHIX's dividend yield for the trailing twelve months is around 1.51%, more than VOOG's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBHIX Neuberger Berman Equity Income Fund	1.51%	1.54%	7.09%	6.16%	7.83%	10.73%	2.18%	5.75%	7.71%	6.77%	5.92%	6.72%
VOOG Vanguard S&P 500 Growth ETF	0.43%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both NBHIX and VOOG in my portfolio?

NBHIX and VOOG have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBHIX or VOOG?

VOOG has higher volatility (4.14%) compared to NBHIX (3.18%). In terms of maximum drawdown, NBHIX dropped -40.07% vs VOOG's -32.73%.

Which has better risk-adjusted returns?

VOOG currently has the higher Sharpe Ratio (2.29 vs 1.40), 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.