NBCR vs SPY
Neuberger Berman Core Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NBCR or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. NBCR is less concentrated, with 35.6% of the fund in its ten largest positions against 37.8%.
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 | NBCR | SPY |
|---|---|---|
| Expense Ratio | 0.29% | 0.09%Best |
| AUM | $845M | $804.7B |
| Dividend Yield | 0.42% | 0.98% |
| Holdings | 206 | 505 |
| YTD Return | +7.01% | +10.96%Best |
| 1Y Return | +10.36% | +15.52%Best |
| 3Y Return (annualized) | - | +20.73% |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 12.5%Tie | 12.5%Tie |
| Max Drawdown | -18.2%Best | -18.8% |
| $10,000 over 2.1 years | $13,551 | $14,156Best |
| Top 10 Weight | 35.6%Best | 37.8% |
| Fund Family | Neuberger Berman | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 31, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Aug 1, 2024 to Sep 16, 2026 (2.1 years).
NBCR 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 2.1 years both funds cover.
NBCR vs SPY Performance
Neuberger Berman Core Equity ETF (NBCR) 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 NBCR returned +10.36% while SPY returned +15.52%. Year to date, NBCR is up 7.01% versus a gain of 10.96% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBCR and SPY have been equally volatile, both at 12.5% annualized.
The deepest peak-to-trough decline in our data was -18.2% for NBCR 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NBCR charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, NBCR currently yields 0.42% against 0.98% for SPY.
Holdings Overlap
91.5% of NBCR's money is in holdings SPY also owns. 72.0% of SPY's money is in holdings NBCR also owns.
Most of NBCR is already inside SPY. Owning both mostly buys the same companies twice.
160 positions in common, counted across the 202 positions we hold weights for in NBCR and 504 in SPY, against full books of 206 and 505.
What only one of them owns
Our book lists 337 positions for SPY that do not appear in our book for NBCR (27.4% of the fund), and 33 for NBCR that do not appear in SPY (6.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in NBCR | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.53% | 8.01% | 0.48% |
| AAPLApple, Inc | 6.73% | 7.26% | 0.53% |
| MSFTMicrosoft Corp | 5.80% | 5.66% | 0.14% |
| AMZNAmazon.Com Inc | 3.57% | 3.79% | 0.22% |
| GOOGLAlphabet Inc,class A | 3.02% | 2.99% | 0.03% |
| GOOGAlphabet Inc | 2.25% | 2.39% | 0.14% |
| AVGOBroadcom Inc | 1.90% | 2.66% | 0.76% |
| METAMeta Platforms Inc | 1.81% | 1.93% | 0.12% |
| TSLATesla Inc | 1.55% | 1.52% | 0.03% |
| MUMicron Technology, Inc. | 1.32% | 1.60% | 0.28% |
91.5% of NBCR is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NBCR or SPY?
NBCR has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, NBCR or SPY?
Over the past year NBCR returned +10.36% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NBCR annualized +15.57% vs +18.00% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBCR or SPY?
NBCR and SPY have been equally volatile, both at 12.5% annualized. Worst drawdown: NBCR -18.2% vs SPY -18.8%.
Should I hold both NBCR and SPY?
NBCR and SPY have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between NBCR and SPY?
91.5% of NBCR's money is in holdings SPY also owns. 72.0% of SPY's is in holdings NBCR also owns. They hold 160 positions in common, counted across the 202 positions we hold weights for in NBCR and 504 in SPY.
Which pays a higher dividend, NBCR or SPY?
NBCR yields 0.42% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than NBCR?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. NBCR is less concentrated, with 35.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.