NBCR vs SPY
Neuberger Berman Core Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NBCR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $872M | $821.1B | |
| Dividend Yield | 0.43% | 1.01% | |
| Holdings | 208 | 505 | |
| YTD Return | +9.10% | +12.73% | |
| 1Y Return | +15.40% | +20.06% | |
| 3Y Return (annualized) | - | +21.59% | |
| 5Y Return (annualized) | - | +12.93% | |
| Volatility (annualized) | 12.6% | 15.3% | |
| Max Drawdown | -18.2% | -56.5% | |
| Fund Family | Neuberger Berman | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 31, 2024 | Jan 22, 1993 |
NBCR vs SPY Performance
Neuberger Berman Core Equity ETF (NBCR) is a ETF from Neuberger Berman and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NBCR returned +15.40% while SPY returned +20.06%. Year to date, NBCR is up 9.10% versus a gain of 12.73% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% for NBCR. 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 -18.2% for NBCR and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 0.43% against 1.01% for SPY.
Holdings Overlap
NBCR and SPY share 156 holdings out of 551 unique holdings combined, representing a 65.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
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. On a $10,000 investment, that is $20 per year of difference.
Which performed better, NBCR or SPY?
Over the past year NBCR returned +15.40% vs +20.06% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NBCR annualized +17.13% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, NBCR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.6% for NBCR. Worst drawdown: NBCR -18.2% vs SPY -56.5%.
Should I hold both NBCR and SPY?
NBCR and SPY have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between NBCR and SPY?
NBCR and SPY share 156 common holdings with a 65.5% weight overlap. Combined, they hold 551 unique securities.
Which pays a higher dividend, NBCR or SPY?
NBCR yields 0.43% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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