NXG vs. ECAT

Last updated Jun 4, 2026

NXG (NXG NextGen Infrastructure Income Fund) and ECAT (BlackRock ESG Capital Allocation Term Trust) are both mutual funds - NXG is a Global Equity Income fund actively managed by NXG, while ECAT is a Derivative Income fund managed by BlackRock. Over the past 3 years, NXG returned 35.01%/yr vs 19.24%/yr for ECAT. At a 0.38 correlation, their price movements are largely independent. NXG charges 1.00%/yr vs 1.38%/yr for ECAT.

Performance

NXG vs. ECAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NXG NextGen Infrastructure Income Fund (NXG) and BlackRock ESG Capital Allocation Term Trust (ECAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NXG achieves a 24.20% return, which is significantly higher than ECAT's 11.23% return.

NXG

• 1D: 1.05%
• 1M: 4.62%
• YTD: 24.20%
• 6M: 24.75%
• 1Y: 39.68%
• 3Y*: 35.01%
• 5Y*: —
• 10Y*: —

ECAT

• 1D: -1.20%
• 1M: 6.84%
• YTD: 11.23%
• 6M: 9.37%
• 1Y: 20.83%
• 3Y*: 19.24%
• 5Y*: —
• 10Y*: —

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

NXG vs. ECAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NXG NXG NextGen Infrastructure Income Fund	24.20%	25.98%	51.16%	4.54%	-5.68%
ECAT BlackRock ESG Capital Allocation Term Trust	11.23%	16.64%	19.96%	32.36%	0.16%

Correlation

The correlation between NXG and ECAT is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 2, 2022	0.38

Return for Risk

NXG vs. ECAT — Risk / Return Rank

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

NXG

NXG Risk / Return Rank: 48
NXG Sharpe Ratio Rank: 50
NXG Sortino Ratio Rank: 43
NXG Omega Ratio Rank: 47
NXG Calmar Ratio Rank: 62
NXG Martin Ratio Rank: 38

ECAT

ECAT Risk / Return Rank: 28
ECAT Sharpe Ratio Rank: 30
ECAT Sortino Ratio Rank: 29
ECAT Omega Ratio Rank: 29
ECAT Calmar Ratio Rank: 23
ECAT Martin Ratio Rank: 28

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.

NXG vs. ECAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NXG NextGen Infrastructure Income Fund (NXG) and BlackRock ESG Capital Allocation Term Trust (ECAT). 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.

	NXG	ECAT	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.56	+0.53
Sortino ratio: Return per unit of downside risk	2.75	2.22	+0.53
Omega ratio: Gain probability vs. loss probability	1.37	1.28	+0.10
Calmar ratio: Return relative to maximum drawdown	3.02	1.77	+1.25
Martin ratio: Return relative to average drawdown	8.32	6.65	+1.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXG vs. ECAT - Sharpe Ratio Comparison

The current NXG Sharpe Ratio is 2.09, which is higher than the ECAT Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of NXG and ECAT, 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

	NXG	ECAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.56	+0.53
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.55	+0.45

Drawdowns

NXG vs. ECAT - Drawdown Comparison

The maximum NXG drawdown since its inception was -26.14%, smaller than the maximum ECAT drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for NXG and ECAT.

Drawdown Indicators

	NXG	ECAT	Difference
Max Drawdown Largest peak-to-trough decline	-26.14%	-32.23%	+6.09%
Max Drawdown (1Y) Largest decline over 1 year	-13.19%	-11.80%	-1.39%
Max Drawdown (3Y) Largest decline over 3 years	-26.14%	-15.79%	-10.35%
Current Drawdown Current decline from peak	-0.28%	-1.20%	+0.92%
Average Drawdown Average peak-to-trough decline	-6.60%	-9.11%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	3.14%	+1.64%

Volatility

NXG vs. ECAT - Volatility Comparison

NXG NextGen Infrastructure Income Fund (NXG) has a higher volatility of 6.13% compared to BlackRock ESG Capital Allocation Term Trust (ECAT) at 3.31%. This indicates that NXG's price experiences larger fluctuations and is considered to be riskier than ECAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXG	ECAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	3.31%	+2.82%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	10.59%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.12%	13.44%	+5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.88%	16.90%	+9.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.88%	16.90%	+9.98%

NXG vs. ECAT - Expense Ratio Comparison

NXG has a 1.00% expense ratio, which is lower than ECAT's 1.38% expense ratio.

Dividends

NXG vs. ECAT - Dividend Comparison

NXG's dividend yield for the trailing twelve months is around 10.86%, less than ECAT's 21.71% yield.

Position	TTM	2025	2024	2023	2022	2021
ECAT BlackRock ESG Capital Allocation Term Trust	21.71%	23.00%	17.44%	9.14%	8.94%	0.54%
NXG NXG NextGen Infrastructure Income Fund	10.86%	12.83%	14.15%	12.00%	1.11%	0.00%

Frequently Asked Questions

Can I hold both NXG and ECAT in my portfolio?

NXG and ECAT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NXG or ECAT?

NXG has higher volatility (6.13%) compared to ECAT (3.31%). In terms of maximum drawdown, NXG dropped -26.14% vs ECAT's -32.23%.

Which has better risk-adjusted returns?

NXG currently has the higher Sharpe Ratio (2.09 vs 1.56), 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.