NBGX vs SPY
Neuberger Berman Growth 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 | NBGX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.44% | 0.09% | |
| AUM | $15M | $821.1B | |
| Dividend Yield | 0.40% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +8.36% | +14.24% | |
| 1Y Return | +11.12% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 16.8% | 15.3% | |
| Max Drawdown | -21.6% | -56.5% | |
| Fund Family | Neuberger Berman ETF Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 18, 2024 | Jan 22, 1993 |
NBGX vs SPY Performance
Neuberger Berman Growth ETF (NBGX) is a ETF from Neuberger Berman ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NBGX returned +11.12% while SPY returned +21.71%. Year to date, NBGX is up 8.36% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
NBGX has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 15.3% 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 -21.6% for NBGX 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NBGX charges 0.44% per year while SPY charges 0.09%. On a $10,000 position that is $44 vs $9 annually, a gap of $35 per year that compounds over a long holding period. On income, NBGX currently yields 0.40% against 1.01% for SPY.
Holdings Overlap
NBGX and SPY share 43 holdings out of 515 unique holdings combined, representing a 45.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NBGX or SPY?
NBGX has an expense ratio of 0.44% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $35 per year of difference.
Which performed better, NBGX or SPY?
Over the past year NBGX returned +11.12% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NBGX annualized +14.51% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, NBGX or SPY?
NBGX has been the more volatile fund at 16.8% annualized versus 15.3% for SPY. Worst drawdown: NBGX -21.6% vs SPY -56.5%.
Should I hold both NBGX and SPY?
NBGX and SPY have a monthly-return correlation of 0.95, 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 NBGX and SPY?
NBGX and SPY share 43 common holdings with a 45.4% weight overlap. Combined, they hold 515 unique securities.
Which pays a higher dividend, NBGX or SPY?
NBGX yields 0.40% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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