NBXG vs SPY
Neuberger Berman Next Generation Connectivity Fund Inc vs State Street SPDR S&P 500 ETF Trust
Which is better, NBXG or SPY?
Each has led over a different period.
SPY has a lower expense ratio. NBXG led over 3Y, SPY over 1Y, 5Y 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 | NBXG | SPY |
|---|---|---|
| Expense Ratio | 1.30% | 0.09%Best |
| AUM | - | $804.7B |
| Dividend Yield | 8.12% | 0.98% |
| Holdings | 137 | 505 |
| YTD Return | +12.01%Best | +11.97% |
| 1Y Return | +10.57% | +16.40%Best |
| 3Y Return (annualized) | +23.97%Best | +21.10% |
| 5Y Return (annualized) | +5.35% | +12.88%Best |
| Volatility (annualized) | 22.4% | 15.4%Best |
| Max Drawdown | -51.8% | -24.5%Best |
| $10,000 over 5 years | $12,977 | $18,327Best |
| Fund Family | Neuberger Berman | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 25, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 26, 2021 to Sep 14, 2026 (5.3 years).
NBXG 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 5.3 years both funds cover.
NBXG vs SPY Performance
Neuberger Berman Next Generation Connectivity Fund Inc (NBXG) 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 NBXG returned +10.57% while SPY returned +16.40%. Year to date, NBXG is up 12.01% versus a gain of 11.97% for SPY.
Over three years, NBXG compounded at +23.97% per year against +21.10% for SPY; over five years the annualized figures are +5.35% and +12.88% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBXG has been the more volatile fund, with annualized monthly volatility of 22.4% compared with 15.4% 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 -51.8% for NBXG and -24.5% 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NBXG charges 1.30% per year while SPY charges 0.09%. On a $10,000 position that is $130 vs $9 annually, a gap of $121 per year that compounds over a long holding period. On income, NBXG currently yields 8.12% against 0.98% for SPY.
Holdings Overlap
At least 34.8% of SPY's money is in holdings NBXG also owns.
Stated as a floor: for NBXG, our book for it covers 90.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 213 days apart, NBXG as of Jan 31, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
28 positions in common, counted across the 51 positions we hold weights for in NBXG and 504 in SPY, against full books of 137 and 505.
Top Shared Holdings
| Stock | Weight in NBXG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 4.45% | 8.01% | 3.56% |
| MSFTMicrosoft Corp | 5.68% | 5.66% | 0.02% |
| AMZNAmazon.Com Inc | 5.76% | 3.79% | 1.97% |
| AAPLApple, Inc | 1.27% | 7.26% | 5.99% |
| METAMeta Platforms Inc | 6.04% | 1.93% | 4.11% |
| AVGOBroadcom Inc | 2.26% | 2.66% | 0.40% |
| HOODRobinhood Markets Inc - A | 4.03% | 0.12% | 3.91% |
| TBBAt&t Inc | 2.88% | 0.27% | 2.61% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 2.53% | 0.24% | 2.29% |
| LYVLive Nation Entertainment Inc | 2.70% | 0.04% | 2.66% |
34.8% of SPY is already inside NBXG.
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, NBXG or SPY?
NBXG has an expense ratio of 1.30% while SPY charges 0.09%. SPY is the cheaper option, by $121 a year on a $10,000 investment.
Which performed better, NBXG or SPY?
Over the past year NBXG returned +10.57% vs +16.40% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBXG or SPY?
NBXG has been the more volatile fund at 22.4% annualized versus 15.4% for SPY. Worst drawdown: NBXG -51.8% vs SPY -24.5%.
Should I hold both NBXG and SPY?
NBXG and SPY have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NBXG and SPY?
At least 34.8% of SPY's money is in holdings NBXG also owns. Our book for NBXG is partial, so the real figure is this or higher. They hold 28 positions in common, counted across the 51 positions we hold weights for in NBXG and 504 in SPY.
Which pays a higher dividend, NBXG or SPY?
NBXG yields 8.12% while SPY yields 0.98%, so NBXG currently pays the higher dividend yield.
Is SPY better than NBXG?
SPY has a lower expense ratio. NBXG led over 3Y, SPY over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.