NLSIX vs. GTAPX
NLSIX (Neuberger Berman Long Short Fund) and GTAPX (Quantitative U.S. Long/Short Equity Portfolio) are both Long-Short funds. Over the past 10 years, NLSIX returned 6.83%/yr vs 5.69%/yr for GTAPX. A 0.53 correlation means they provide meaningful diversification when combined. NLSIX charges 1.28%/yr vs 1.25%/yr for GTAPX.
Performance
NLSIX vs. GTAPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NLSIX achieves a 2.09% return, which is significantly lower than GTAPX's 5.58% return. Over the past 10 years, NLSIX has outperformed GTAPX with an annualized return of 6.83%, while GTAPX has yielded a comparatively lower 5.69% annualized return.
NLSIX
- 1D
- 0.20%
- 1M
- 0.98%
- 6M
- 1.64%
- YTD
- 2.09%
- 1Y
- 5.23%
- 3Y*
- 7.51%
- 5Y*
- 4.89%
- 10Y*
- 6.83%
GTAPX
- 1D
- 0.07%
- 1M
- -0.38%
- 6M
- 5.50%
- YTD
- 5.58%
- 1Y
- 15.23%
- 3Y*
- 10.79%
- 5Y*
- 9.25%
- 10Y*
- 5.69%
NLSIX vs. GTAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NLSIX Neuberger Berman Long Short Fund | 2.09% | 7.20% | 7.47% | 13.10% | -6.85% | 9.01% | 15.27% | 17.11% | -6.92% | 13.39% |
GTAPX Quantitative U.S. Long/Short Equity Portfolio | 5.58% | 12.79% | 13.28% | 4.42% | 3.16% | 17.72% | -5.16% | 3.26% | -8.65% | 8.74% |
Correlation
The correlation between NLSIX and GTAPX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011 | 0.53 |
Over the past year, the correlation between NLSIX and GTAPX has dropped to 0.28 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NLSIX vs. GTAPX — Risk / Return Rank
NLSIX
GTAPX
NLSIX vs. GTAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Long Short Fund (NLSIX) and Quantitative U.S. Long/Short Equity Portfolio (GTAPX). 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.
| NLSIX | GTAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.39 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 4.94 | -3.78 |
| Martin ratioReturn relative to average drawdown | 4.08 | 15.53 | -11.44 |
Loading charts...
Drawdowns
NLSIX vs. GTAPX - Drawdown Comparison
The maximum NLSIX drawdown since its inception was -14.75%, smaller than the maximum GTAPX drawdown of -30.40%. Use the drawdown chart below to compare losses from any high point for NLSIX and GTAPX.
Loading charts...
Drawdown Indicators
| NLSIX | GTAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -30.40% | +15.65% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -3.01% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.90% | -12.21% | +5.31% |
Max Drawdown (5Y)Largest decline over 5 years | -10.79% | -12.21% | +1.42% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -30.40% | +15.65% |
Current DrawdownCurrent decline from peak | -0.82% | -0.52% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.01% | -7.00% | +4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 0.97% | +0.26% |
Volatility
NLSIX vs. GTAPX - Volatility Comparison
Neuberger Berman Long Short Fund (NLSIX) has a higher volatility of 2.09% compared to Quantitative U.S. Long/Short Equity Portfolio (GTAPX) at 1.99%. This indicates that NLSIX's price experiences larger fluctuations and is considered to be riskier than GTAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NLSIX | GTAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 1.99% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.48% | 5.23% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 6.79% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 10.86% | -4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.33% | 10.23% | -2.90% |
NLSIX vs. GTAPX - Expense Ratio Comparison
NLSIX has a 1.28% expense ratio, which is higher than GTAPX's 1.25% expense ratio.
Dividends
NLSIX vs. GTAPX - Dividend Comparison
NLSIX's dividend yield for the trailing twelve months is around 0.05%, less than GTAPX's 15.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTAPX Quantitative U.S. Long/Short Equity Portfolio | 15.58% | 16.63% | 11.79% | 11.23% | 0.00% | 0.00% | 0.00% | 0.96% | 0.00% | 0.00% | 0.00% | 0.00% |
NLSIX Neuberger Berman Long Short Fund | 0.05% | 0.05% | 0.02% | 0.97% | 7.01% | 1.13% | 2.15% | 2.39% | 5.91% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
NLSIX and GTAPX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NLSIX has higher volatility (2.09%) compared to GTAPX (1.99%). In terms of maximum drawdown, NLSIX dropped -14.75% vs GTAPX's -30.40%.
GTAPX currently has the higher Sharpe Ratio (2.19 vs 0.96), 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.
Find the right allocation for NLSIX and GTAPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer