NMB vs. ENFR

Last updated Jun 24, 2026

NMB (Simplify National Muni Bond ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - NMB is a Municipal Bonds fund actively managed by Simplify, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. NMB is actively managed, while ENFR is passively managed. Over the past year, NMB returned 7.21% vs 27.76% for ENFR. At a 0.07 correlation, their price movements are largely independent. NMB charges 0.52%/yr vs 0.35%/yr for ENFR.

Performance

NMB vs. ENFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify National Muni Bond ETF (NMB) and Alerian Energy Infrastructure ETF (ENFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMB achieves a 1.90% return, which is significantly lower than ENFR's 24.93% return.

NMB

• 1D: -0.20%
• 1M: 2.53%
• YTD: 1.90%
• 6M: 1.74%
• 1Y: 7.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ENFR

• 1D: 1.51%
• 1M: -4.52%
• YTD: 24.93%
• 6M: 25.03%
• 1Y: 27.76%
• 3Y*: 28.90%
• 5Y*: 20.07%
• 10Y*: 11.98%

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

NMB vs. ENFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NMB Simplify National Muni Bond ETF	1.90%	7.97%	-1.96%
ENFR Alerian Energy Infrastructure ETF	24.93%	5.88%	13.71%

Correlation

The correlation between NMB and ENFR is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.07

The correlation between NMB and ENFR shifts across timeframes, from -0.09 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NMB vs. ENFR — Risk / Return Rank

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

NMB

NMB Risk / Return Rank: 25
NMB Sharpe Ratio Rank: 27
NMB Sortino Ratio Rank: 26
NMB Omega Ratio Rank: 26
NMB Calmar Ratio Rank: 26
NMB Martin Ratio Rank: 21

ENFR

ENFR Risk / Return Rank: 57
ENFR Sharpe Ratio Rank: 59
ENFR Sortino Ratio Rank: 57
ENFR Omega Ratio Rank: 54
ENFR Calmar Ratio Rank: 67
ENFR Martin Ratio Rank: 50

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.

NMB vs. ENFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify National Muni Bond ETF (NMB) and Alerian Energy Infrastructure ETF (ENFR). 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.

	NMB	ENFR	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.88	-0.97
Sortino ratio: Return per unit of downside risk	1.37	2.59	-1.22
Omega ratio: Gain probability vs. loss probability	1.17	1.32	-0.15
Calmar ratio: Return relative to maximum drawdown	1.21	3.23	-2.02
Martin ratio: Return relative to average drawdown	2.43	8.24	-5.81

NMB vs. ENFR - Sharpe Ratio Comparison

The current NMB Sharpe Ratio is 0.91, which is lower than the ENFR Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of NMB and ENFR, 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

NMB vs. ENFR - Drawdown Comparison

The maximum NMB drawdown since its inception was -13.68%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for NMB and ENFR.

Drawdown Indicators

	NMB	ENFR	Difference
Max Drawdown Largest peak-to-trough decline	-13.68%	-68.28%	+54.60%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-8.64%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.64%	—
Current Drawdown Current decline from peak	-0.92%	-4.71%	+3.79%
Average Drawdown Average peak-to-trough decline	-3.29%	-15.94%	+12.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.38%	-0.41%

Volatility

NMB vs. ENFR - Volatility Comparison

The current volatility for Simplify National Muni Bond ETF (NMB) is 1.67%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 5.69%. This indicates that NMB experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMB	ENFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.67%	5.69%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	4.51%	11.60%	-7.09%
Volatility (1Y) Calculated over the trailing 1-year period	7.99%	14.86%	-6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.54%	19.25%	-6.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.54%	24.68%	-12.14%

NMB vs. ENFR - Expense Ratio Comparison

NMB has a 0.52% expense ratio, which is higher than ENFR's 0.35% expense ratio.

Dividends

NMB vs. ENFR - Dividend Comparison

NMB's dividend yield for the trailing twelve months is around 5.83%, more than ENFR's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENFR Alerian Energy Infrastructure ETF	4.02%	4.77%	4.41%	5.48%	5.23%	7.86%	7.57%	5.81%	3.98%	2.98%	3.31%	3.34%
NMB Simplify National Muni Bond ETF	5.83%	4.48%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NMB and ENFR in my portfolio?

NMB and ENFR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NMB or ENFR?

ENFR has higher volatility (5.69%) compared to NMB (1.67%). In terms of maximum drawdown, NMB dropped -13.68% vs ENFR's -68.28%.

Which ETF is better, NMB or ENFR?

On 1-year performance, ENFR leads with 27.76% vs 7.21% for NMB. On fees, ENFR is cheaper at 0.35% per year. On volatility, NMB has been the lower-risk option at 1.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NMB or ENFR?

Over the 1-year period, ENFR has performed better with a 27.76% return vs 7.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NMB or ENFR?

ENFR is cheaper with a 0.35% expense ratio, compared with 0.52% for NMB.

Which ETF pays a higher dividend yield, NMB or ENFR?

NMB has the higher dividend yield at 5.83%, compared with 4.02% for ENFR.

What is the main difference between NMB and ENFR?

NMB is categorized as Municipal Bonds, while ENFR is Energy Equities. They also come from different issuers: Simplify and SS&C. Their fees differ too: 0.52% for NMB and 0.35% for ENFR.

Which has better risk-adjusted returns?

ENFR currently has the higher Sharpe Ratio (1.88 vs 0.91), 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.