NML vs. SRV
NML (Neuberger Berman MLP) and SRV (NXG Cushing® Midstream Energy Fund) are both mutual funds - NML is a MLPs fund actively managed by Neuberger Berman, while SRV is a Energy Equities fund actively managed by NXG. Both are actively managed. Over the past 10 years, NML returned 10.71%/yr vs 11.81%/yr for SRV. Their 0.61 correlation means they have sometimes moved together and sometimes differently. NML charges 2.72%/yr vs 1.00%/yr for SRV.
Performance
NML vs. SRV - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with NML having a 28.84% return and SRV slightly higher at 29.04%. Over the past 10 years, NML has underperformed SRV with an annualized return of 10.71%, while SRV has yielded a comparatively higher 11.81% annualized return.
NML
- 1D
- 1.65%
- 1M
- 4.26%
- 6M
- 15.85%
- YTD
- 28.84%
- 1Y
- 30.58%
- 3Y*
- 24.05%
- 5Y*
- 26.21%
- 10Y*
- 10.71%
- ALL TIME*
- 2.88%
SRV
- 1D
- 4.38%
- 1M
- -3.23%
- 6M
- 22.64%
- YTD
- 29.04%
- 1Y
- 32.00%
- 3Y*
- 21.45%
- 5Y*
- 27.28%
- 10Y*
- 11.81%
- ALL TIME*
- -0.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.26M | $1.11M | $1.30M | |
| $3.49M | $3.96M | $3.22M |
NML vs. SRV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NML Neuberger Berman MLP | 28.84% | 4.36% | 40.55% | 14.61% | 32.75% | 61.76% | -45.84% | 10.60% | -23.02% | 7.07% |
SRV NXG Cushing® Midstream Energy Fund | 29.04% | 5.05% | 50.70% | 19.88% | 20.11% | 50.45% | -41.65% | 33.99% | -21.61% | -4.21% |
Correlation
The correlation between NML and SRV is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.61 |
The correlation between NML and SRV shifts across timeframes, from 0.41 (1 year) to 0.64 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
NML vs. SRV — Risk / Return Rank
NML
SRV
NML vs. SRV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman MLP (NML) and NXG Cushing® Midstream Energy Fund (SRV). 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 | SRV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 2.32 | +0.77 |
| Martin ratioReturn relative to average drawdown | 8.41 | 6.32 | +2.10 |
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Drawdowns
NML vs. SRV - Drawdown Comparison
The maximum NML drawdown since its inception was -90.48%, roughly equal to the maximum SRV drawdown of -92.97%. Use the drawdown chart below to compare losses from any high point for NML and SRV.
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Drawdown Indicators
| NML | SRV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.48% | -92.97% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -13.13% | +3.56% |
Max Drawdown (3Y)Largest decline over 3 years | -16.92% | -26.26% | +9.34% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -26.26% | +4.86% |
Max Drawdown (10Y)Largest decline over 10 years | -84.84% | -81.70% | -3.14% |
Current DrawdownCurrent decline from peak | -2.43% | -9.98% | +7.55% |
Average DrawdownAverage peak-to-trough decline | -36.68% | -48.41% | +11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 4.81% | -1.30% |
Volatility
NML vs. SRV - Volatility Comparison
The current volatility for Neuberger Berman MLP (NML) is 6.97%, while NXG Cushing® Midstream Energy Fund (SRV) has a volatility of 9.35%. This indicates that NML experiences smaller price fluctuations and is considered to be less risky than SRV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NML | SRV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 9.35% | -2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 17.97% | -3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.33% | 21.49% | -3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 26.44% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.00% | 38.35% | -3.35% |
NML vs. SRV - Expense Ratio Comparison
NML has a 2.72% expense ratio, which is higher than SRV's 1.00% expense ratio.
Dividends
NML vs. SRV - Dividend Comparison
NML's dividend yield for the trailing twelve months is around 7.15%, less than SRV's 16.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Neuberger Berman MLP | 7.15% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
SRV NXG Cushing® Midstream Energy Fund | 16.27% | 19.31% | 12.85% | 15.56% | 8.85% | 4.72% | 12.05% | 10.59% | 12.73% | 9.07% | 7.95% | 11.01% |
Frequently Asked Questions
NML and SRV have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRV has higher volatility (9.35%) compared to NML (6.97%). In terms of maximum drawdown, NML dropped -90.48% vs SRV's -92.97%.
NML currently has the higher Sharpe Ratio (1.61 vs 1.42), 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.
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