NBTK.DE vs. SMLD.DE
NBTK.DE (Invesco Nasdaq Biotech UCITS ETF) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - NBTK.DE is a Health & Biotech Equities fund tracking the Nasdaq Biotechnology, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 5 years, NBTK.DE returned 5.63%/yr vs 25.24%/yr for SMLD.DE. At a 0.25 correlation, their price movements are largely independent. NBTK.DE charges 0.40%/yr vs 0.50%/yr for SMLD.DE.
Performance
NBTK.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, NBTK.DE achieves a 4.27% return, which is significantly lower than SMLD.DE's 20.75% return.
NBTK.DE
- 1D
- 2.92%
- 1M
- 0.38%
- YTD
- 4.27%
- 6M
- 3.76%
- 1Y
- 39.20%
- 3Y*
- 9.94%
- 5Y*
- 5.63%
- 10Y*
- —
SMLD.DE
- 1D
- -0.66%
- 1M
- 3.73%
- YTD
- 20.75%
- 6M
- 13.95%
- 1Y
- 14.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
NBTK.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NBTK.DE Invesco Nasdaq Biotech UCITS ETF | 4.27% | 18.60% | 4.57% | 2.51% | -6.11% | 7.46% | 14.59% | 17.24% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | 1.61% |
Correlation
The correlation between NBTK.DE and SMLD.DE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | 0.25 |
The correlation between NBTK.DE and SMLD.DE shifts across timeframes, from -0.02 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NBTK.DE vs. SMLD.DE — Risk / Return Rank
NBTK.DE
SMLD.DE
NBTK.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotech UCITS ETF (NBTK.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE). 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.
| NBTK.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.51 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.15 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 6.16 | 0.92 | +5.24 |
| Martin ratioReturn relative to average drawdown | 17.06 | 1.91 | +15.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NBTK.DE | SMLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 0.51 | +1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 1.10 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.29 | +0.13 |
Drawdowns
NBTK.DE vs. SMLD.DE - Drawdown Comparison
The maximum NBTK.DE drawdown since its inception was -30.99%, smaller than the maximum SMLD.DE drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for NBTK.DE and SMLD.DE.
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Drawdown Indicators
| NBTK.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.99% | -73.78% | +42.79% |
Max Drawdown (1Y)Largest decline over 1 year | -6.24% | -14.77% | +8.53% |
Max Drawdown (3Y)Largest decline over 3 years | -29.35% | -22.99% | -6.36% |
Max Drawdown (5Y)Largest decline over 5 years | -30.99% | -22.99% | -8.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.79% | — |
Current DrawdownCurrent decline from peak | -1.44% | -3.47% | +2.03% |
Average DrawdownAverage peak-to-trough decline | -10.62% | -17.76% | +7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 7.16% | -4.90% |
Volatility
NBTK.DE vs. SMLD.DE - Volatility Comparison
Invesco Nasdaq Biotech UCITS ETF (NBTK.DE) has a higher volatility of 6.41% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) at 5.38%. This indicates that NBTK.DE's price experiences larger fluctuations and is considered to be riskier than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBTK.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 5.38% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 14.11% | 12.79% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 26.64% | -7.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.30% | 22.60% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.05% | 34.70% | -12.65% |
NBTK.DE vs. SMLD.DE - Expense Ratio Comparison
NBTK.DE has a 0.40% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
NBTK.DE vs. SMLD.DE - Dividend Comparison
NBTK.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NBTK.DE Invesco Nasdaq Biotech UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
NBTK.DE and SMLD.DE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NBTK.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NBTK.DE is cheaper with a 0.40% expense ratio, compared with 0.50% for SMLD.DE.
NBTK.DE is categorized as Health & Biotech Equities, while SMLD.DE is Energy Equities. NBTK.DE tracks Nasdaq Biotechnology, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.40% for NBTK.DE and 0.50% for SMLD.DE.
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