NML vs. NXG
NML (Neuberger Berman MLP) and NXG (NXG NextGen Infrastructure Income Fund) are both mutual funds - NML is a MLPs fund actively managed by Neuberger Berman, while NXG is a Global Equity Income fund actively managed by NXG. Both are actively managed. Over the past 3 years, NML returned 25.74%/yr vs 35.87%/yr for NXG. At a 0.44 correlation, their price movements are largely independent. NML charges 2.72%/yr vs 1.00%/yr for NXG.
Performance
NML vs. NXG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NML achieves a 18.43% return, which is significantly lower than NXG's 24.88% return.
NML
- 1D
- 0.94%
- 1M
- -6.73%
- YTD
- 18.43%
- 6M
- 20.71%
- 1Y
- 19.19%
- 3Y*
- 25.74%
- 5Y*
- 22.78%
- 10Y*
- 9.69%
NXG
- 1D
- 1.21%
- 1M
- 4.07%
- YTD
- 24.88%
- 6M
- 26.97%
- 1Y
- 38.01%
- 3Y*
- 35.87%
- 5Y*
- —
- 10Y*
- —
NML vs. NXG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NML Neuberger Berman MLP | 18.43% | 4.36% | 40.55% | 14.61% | -2.77% |
NXG NXG NextGen Infrastructure Income Fund | 24.88% | 25.98% | 51.16% | 4.54% | -4.87% |
Correlation
The correlation between NML and NXG is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2022 | 0.44 |
The correlation between NML and NXG shifts across timeframes, from 0.29 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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
NML vs. NXG — Risk / Return Rank
NML
NXG
NML vs. NXG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman MLP (NML) and NXG NextGen Infrastructure Income Fund (NXG). 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.
| NML | NXG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.90 | -0.90 |
| Martin ratioReturn relative to average drawdown | 5.39 | 7.89 | -2.49 |
Loading charts...
Drawdowns
NML vs. NXG - Drawdown Comparison
The maximum NML drawdown since its inception was -90.48%, which is greater than NXG's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for NML and NXG.
Loading charts...
Drawdown Indicators
| NML | NXG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.48% | -26.14% | -64.34% |
Max Drawdown (1Y)Largest decline over 1 year | -9.67% | -13.19% | +3.52% |
Max Drawdown (3Y)Largest decline over 3 years | -16.92% | -26.14% | +9.22% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -84.84% | — | — |
Current DrawdownCurrent decline from peak | -7.87% | -0.54% | -7.33% |
Average DrawdownAverage peak-to-trough decline | -36.96% | -6.54% | -30.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 4.83% | -1.26% |
Volatility
NML vs. NXG - Volatility Comparison
Neuberger Berman MLP (NML) has a higher volatility of 6.11% compared to NXG NextGen Infrastructure Income Fund (NXG) at 5.17%. This indicates that NML's price experiences larger fluctuations and is considered to be riskier than NXG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NML | NXG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.11% | 5.17% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 13.84% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.30% | 19.41% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 26.77% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.11% | 26.77% | +8.34% |
NML vs. NXG - Expense Ratio Comparison
NML has a 2.72% expense ratio, which is higher than NXG's 1.00% expense ratio.
Dividends
NML vs. NXG - Dividend Comparison
NML's dividend yield for the trailing twelve months is around 7.60%, less than NXG's 11.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Neuberger Berman MLP | 7.60% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
NXG NXG NextGen Infrastructure Income Fund | 11.01% | 12.83% | 14.15% | 12.00% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NML and NXG have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NML has higher volatility (6.11%) compared to NXG (5.17%). In terms of maximum drawdown, NML dropped -90.48% vs NXG's -26.14%.
NXG currently has the higher Sharpe Ratio (1.97 vs 1.12), 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 NML and NXG
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