NBCM vs SPY
Neuberger Berman Commodity Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NBCM or SPY?
Commodities against Large Cap Blend.
SPY has a lower expense ratio. NBCM led over 1Y, SPY over 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NBCM | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $518M | $804.7B |
| Dividend Yield | 6.22% | 0.98% |
| Holdings | 155 | 505 |
| YTD Return | +39.26%Best | +11.97% |
| 1Y Return | +46.48%Best | +16.40% |
| 3Y Return (annualized) | +17.70% | +21.10%Best |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 13.6% | 13.0%Best |
| Max Drawdown | -14.8%Best | -18.8% |
| $10,000 over 3.9 years | $17,206 | $21,140Best |
| Fund Family | Neuberger Berman | State Street Investment Management |
| Category | Commodity | Equity |
| Style | Commodities | Large Cap Blend |
| Inception | Oct 24, 2022 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.9 years row, are measured over the window both funds cover: Oct 24, 2022 to Sep 14, 2026 (3.9 years).
NBCM vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.9 years both funds cover.
NBCM vs SPY Performance
Neuberger Berman Commodity Strategy ETF (NBCM) is an ETF from Neuberger Berman and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NBCM returned +46.48% while SPY returned +16.40%. Year to date, NBCM is up 39.26% versus a gain of 11.97% for SPY.
Over three years, NBCM compounded at +17.70% per year against +21.10% for SPY. Across the full 4-year window we track, SPY has the edge at +21.16% annualized vs +14.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBCM has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 13.0% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.8% for NBCM and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.07. They move largely independently of each other.
Fees and Cost Over Time
NBCM charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, NBCM currently yields 6.22% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 68 holdings in NBCM and 504 in SPY, totalling 35.4% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 68 positions we hold weights for in NBCM and 504 in SPY, against full books of 155 and 505.
You are not choosing between two funds in isolation.
Whichever of NBCM and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NBCM or SPY?
NBCM has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, NBCM or SPY?
Over the past year NBCM returned +46.48% vs +16.40% for SPY, so NBCM leads on 1-year performance. Over the longest common window we track (4 years), NBCM annualized +14.93% vs +21.16% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBCM or SPY?
NBCM has been the more volatile fund at 13.6% annualized versus 13.0% for SPY. Worst drawdown: NBCM -14.8% vs SPY -18.8%.
Should I hold both NBCM and SPY?
NBCM and SPY have a monthly-return correlation of 0.07, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, NBCM or SPY?
NBCM yields 6.22% while SPY yields 0.98%, so NBCM currently pays the higher dividend yield.
Is SPY better than NBCM?
SPY has a lower expense ratio. NBCM led over 1Y, SPY over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.