Hikari offers 3 grades: gold, staple and excel. The OP compares the ingredients of Hikari Gold with NLS, which is not a fair comparison because Gold is the cheapest grade. Excel contains higher quality ingredients such as krill and spirulina, so it is closer to and a fairer comparison with NLS.
Not exactly. Hikari does not advertise or promote these 3 different formulas, as different grades, with the exception of Staple, which they do promote as being more economical.
http://www.hikari.info/tropical/index.html#c3
Gold:
A Daily,
Color-Enhancing Diet For Cichlids And Larger Tropical Fish
A daily diet
containing special color enhancers designed to bring out your pet's natural beauty while helping them develop desirable form.
Excel
A Daily Diet
For Herbivorous Cichlids And Larger Tropical Fish
A specially formulated daily diet
for herbivorous (plant eating) cichlids and larger tropical fish offering higher levels of vegetable matter.
Staple:
A Daily Diet For Cichlids And Larger Tropical Fish
An
economical daily diet for cichlids and larger tropical fish.
Excel should be compared to NLS AlgaeMax, not any of their regular formulas, which again IMO still wins that comparison hands down. AlgaeMax is in my opinion by far the best herbivorous pellet on the market.
The best comparison would probably be Hikari Bio-Gold, and NLS regular formulas, in which case NLS still wins.