- ISIN
- US64135A4085
- Issuer
- Neuberger Berman
- Inception Date
- Aug 27, 2012
- Region
- Global (Broad)
- Category
- Commodities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Commodity
- Assets Under Management
- $414M
Share Price Chart
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Performance
NBCM Performance Chart
Neuberger Berman Commodity Strategy ETF (NBCM) is up 19.8% since the beginning of the year. NBCM is currently trading at $27 per share.
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Returns By Period
Neuberger Berman Commodity Strategy ETF (NBCM) has returned 19.82% so far this year and 27.34% over the past 12 months.
Neuberger Berman Commodity Strategy ETF
- 1D
- -0.39%
- 1M
- -8.32%
- YTD
- 19.82%
- 6M
- 19.51%
- 1Y
- 27.34%
- 3Y*
- 14.59%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
NBCM Monthly Returns History
Based on dividend-adjusted daily data since Oct 24, 2022, NBCM's average daily return is +0.05%, while the average monthly return is +0.94%. At this rate, an investment would double in approximately 6.2 years.
Historically, 64% of months were positive and 36% were negative. The best month was Mar 2026 with a return of +11.2%, while the worst month was Jun 2026 at -6.7%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.
On a daily basis, NBCM closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +4.2%, while the worst single day was Jan 30, 2026 at -5.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.30% | 1.95% | 11.18% | 5.96% | -2.19% | -6.68% | 19.82% | ||||||
| 2025 | 4.30% | 0.18% | 3.60% | -5.41% | 0.72% | 3.13% | 0.58% | 2.55% | 2.51% | 2.06% | 2.04% | 0.28% | 17.45% |
| 2024 | 1.16% | -0.98% | 4.42% | 2.31% | 0.99% | -1.84% | -2.93% | -0.74% | 3.67% | 0.34% | -0.75% | 0.96% | 6.55% |
| 2023 | 1.52% | -5.51% | 0.95% | -2.28% | -6.05% | 3.90% | 7.23% | -0.48% | -1.23% | -0.04% | -1.21% | -2.64% | -6.41% |
| 2022 | 0.35% | 4.07% | 0.92% | 5.39% |
Benchmark Metrics
Neuberger Berman Commodity Strategy ETF has an annualized alpha of 7.38%, beta of 0.24, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since October 24, 2022.
- This ETF captured 29.70% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -3.18%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.24 may look defensive, but with R2 of 0.06 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.06 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 7.38%
- Beta
- 0.24
- R²
- 0.06
- Upside Capture
- 29.70%
- Downside Capture
- -3.18%
Expense Ratio
NBCM has an expense ratio of 0.66%, placing it in the medium range.
Return for Risk
Risk / Return Rank
NBCM ranks 46 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NBCM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 2.78 | -0.47 |
| Martin ratioReturn relative to average drawdown | 8.39 | 12.44 | -4.05 |
Dividends
Dividend History
Neuberger Berman Commodity Strategy ETF provided a 7.06% dividend yield over the last twelve months, with an annual payout of $1.91 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $1.91 | $1.91 | $1.09 | $0.90 | $0.18 |
Dividend yield | 7.06% | 8.46% | 5.22% | 4.37% | 0.80% |
Monthly Dividends
The table displays the monthly dividend distributions for Neuberger Berman Commodity Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.91 | $1.91 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.09 | $1.09 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.90 | $0.90 |
| 2022 | $0.18 | $0.18 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Neuberger Berman Commodity Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Neuberger Berman Commodity Strategy ETF was 12.84%, occurring on May 31, 2023. Recovery took 229 trading sessions.
The current Neuberger Berman Commodity Strategy ETF drawdown is 11.86%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -12.84%May 2023 | 4mo 4d | 11mo 4d | 1y 3moJan 2023 - Apr 2024 |
2026 correction2026 | -11.86%Jun 2026 | 1mo 10d | — | 1mo 11dMay 2026 - now |
2024 correction2024 | -11.47%Sep 2024 | 3mo 14d | 4mo 7d | 7mo 21dMay 2024 - Jan 2025 |
2025 selloff2025 | -10.76%Apr 2025 | 5d | 2mo 10d | 2mo 15dApr 2025 - Jun 2025 |
2026 pullback2026 | -9.70%Feb 2026 | 3d | 1mo | 1mo 3dJan 2026 - Mar 2026 |
Drawdown Indicators
| NBCM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.84% | -56.78% | +43.94% |
Max Drawdown (1Y)Largest decline over 1 year | -11.86% | -9.10% | -2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -11.86% | -18.90% | +7.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -11.86% | -1.80% | -10.06% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -10.71% | +6.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 2.03% | +1.35% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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