NBXG vs. AIO

Last updated Jun 5, 2026

NBXG (Neuberger Berman Next Generation Connectivity Fund) and AIO (Virtus Artificial Intelligence & Technology Opportunities Fund) are both Technology Equities funds. Over the past 5 years, NBXG returned 6.19%/yr vs 13.15%/yr for AIO. A 0.73 correlation means they provide meaningful diversification when combined. NBXG charges 1.37%/yr vs 1.41%/yr for AIO.

Performance

NBXG vs. AIO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Next Generation Connectivity Fund (NBXG) and Virtus Artificial Intelligence & Technology Opportunities Fund (AIO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBXG achieves a 20.11% return, which is significantly lower than AIO's 29.97% return.

NBXG

• 1D: 0.06%
• 1M: 10.98%
• YTD: 20.11%
• 6M: 17.22%
• 1Y: 34.00%
• 3Y*: 29.33%
• 5Y*: 6.19%
• 10Y*: —

AIO

• 1D: -0.22%
• 1M: 8.90%
• YTD: 29.97%
• 6M: 28.45%
• 1Y: 27.51%
• 3Y*: 29.34%
• 5Y*: 13.15%
• 10Y*: —

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

NBXG vs. AIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NBXG Neuberger Berman Next Generation Connectivity Fund	20.11%	24.23%	28.53%	34.92%	-41.41%	-10.72%
AIO Virtus Artificial Intelligence & Technology Opportunities Fund	29.97%	0.48%	54.48%	19.27%	-28.06%	8.92%

Correlation

The correlation between NBXG and AIO is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since May 27, 2021	0.73

The correlation between NBXG and AIO has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.

Return for Risk

NBXG vs. AIO — Risk / Return Rank

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

NBXG

NBXG Risk / Return Rank: 34
NBXG Sharpe Ratio Rank: 40
NBXG Sortino Ratio Rank: 35
NBXG Omega Ratio Rank: 35
NBXG Calmar Ratio Rank: 32
NBXG Martin Ratio Rank: 27

AIO

AIO Risk / Return Rank: 31
AIO Sharpe Ratio Rank: 29
AIO Sortino Ratio Rank: 29
AIO Omega Ratio Rank: 26
AIO Calmar Ratio Rank: 41
AIO Martin Ratio Rank: 31

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.

NBXG vs. AIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Next Generation Connectivity Fund (NBXG) and Virtus Artificial Intelligence & Technology Opportunities Fund (AIO). 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.

	NBXG	AIO	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.55	+0.26
Sortino ratio: Return per unit of downside risk	2.47	2.26	+0.21
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	2.10	2.42	-0.32
Martin ratio: Return relative to average drawdown	6.32	7.18	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBXG vs. AIO - Sharpe Ratio Comparison

The current NBXG Sharpe Ratio is 1.82, which is comparable to the AIO Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of NBXG and AIO, 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

	NBXG	AIO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	1.55	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.60	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.66	-0.42

Drawdowns

NBXG vs. AIO - Drawdown Comparison

The maximum NBXG drawdown since its inception was -51.76%, which is greater than AIO's maximum drawdown of -44.88%. Use the drawdown chart below to compare losses from any high point for NBXG and AIO.

Drawdown Indicators

	NBXG	AIO	Difference
Max Drawdown Largest peak-to-trough decline	-51.76%	-44.88%	-6.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.26%	-11.42%	-4.84%
Max Drawdown (3Y) Largest decline over 3 years	-22.08%	-30.23%	+8.15%
Max Drawdown (5Y) Largest decline over 5 years	-51.76%	-37.39%	-14.37%
Current Drawdown Current decline from peak	-1.19%	-0.22%	-0.97%
Average Drawdown Average peak-to-trough decline	-21.08%	-10.95%	-10.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	3.84%	+1.55%

Volatility

NBXG vs. AIO - Volatility Comparison

Neuberger Berman Next Generation Connectivity Fund (NBXG) has a higher volatility of 5.85% compared to Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) at 5.53%. This indicates that NBXG's price experiences larger fluctuations and is considered to be riskier than AIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBXG	AIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.85%	5.53%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	15.02%	13.37%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	18.85%	17.83%	+1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.07%	22.03%	+4.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.01%	26.87%	-0.86%

NBXG vs. AIO - Expense Ratio Comparison

NBXG has a 1.37% expense ratio, which is lower than AIO's 1.41% expense ratio.

Dividends

NBXG vs. AIO - Dividend Comparison

NBXG's dividend yield for the trailing twelve months is around 8.18%, less than AIO's 10.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AIO Virtus Artificial Intelligence & Technology Opportunities Fund	10.93%	13.75%	7.30%	10.34%	11.12%	19.97%	9.31%	0.54%
NBXG Neuberger Berman Next Generation Connectivity Fund	8.18%	8.73%	9.42%	10.98%	13.19%	3.47%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBXG and AIO in my portfolio?

NBXG and AIO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBXG or AIO?

NBXG has higher volatility (5.85%) compared to AIO (5.53%). In terms of maximum drawdown, NBXG dropped -51.76% vs AIO's -44.88%.

Which has better risk-adjusted returns?

NBXG currently has the higher Sharpe Ratio (1.82 vs 1.55), 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.