JOJO vs. NBCM

Last updated Jun 23, 2026

JOJO (ATAC Credit Rotation ETF) and NBCM (Neuberger Berman Commodity Strategy ETF) are both exchange-traded funds - JOJO is a Multisector Bonds fund actively managed by ATAC, while NBCM is a Commodities fund actively managed by Neuberger Berman. Both are actively managed. Over the past 3 years, JOJO returned 6.82%/yr vs 14.59%/yr for NBCM. At a correlation of -0.01, they often move in opposite directions. JOJO charges 1.28%/yr vs 0.66%/yr for NBCM.

Performance

JOJO vs. NBCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ATAC Credit Rotation ETF (JOJO) and Neuberger Berman Commodity Strategy ETF (NBCM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JOJO achieves a 2.09% return, which is significantly lower than NBCM's 19.82% return.

JOJO

• 1D: -0.65%
• 1M: 0.00%
• YTD: 2.09%
• 6M: 2.35%
• 1Y: 8.83%
• 3Y*: 6.82%
• 5Y*: —
• 10Y*: —

NBCM

• 1D: -0.39%
• 1M: -8.32%
• YTD: 19.82%
• 6M: 19.51%
• 1Y: 27.34%
• 3Y*: 14.59%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JOJO vs. NBCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JOJO ATAC Credit Rotation ETF	2.09%	10.52%	2.74%	7.61%	1.81%
NBCM Neuberger Berman Commodity Strategy ETF	19.82%	17.45%	6.55%	-6.41%	5.39%

Correlation

The correlation between JOJO and NBCM is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Oct 24, 2022	-0.01

The correlation between JOJO and NBCM shifts across timeframes, from -0.20 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JOJO vs. NBCM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JOJO

JOJO Risk / Return Rank: 38
JOJO Sharpe Ratio Rank: 38
JOJO Sortino Ratio Rank: 40
JOJO Omega Ratio Rank: 39
JOJO Calmar Ratio Rank: 37
JOJO Martin Ratio Rank: 34

NBCM

NBCM Risk / Return Rank: 46
NBCM Sharpe Ratio Rank: 46
NBCM Sortino Ratio Rank: 41
NBCM Omega Ratio Rank: 44
NBCM Calmar Ratio Rank: 48
NBCM Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JOJO vs. NBCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ATAC Credit Rotation ETF (JOJO) and Neuberger Berman Commodity Strategy ETF (NBCM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	JOJO	NBCM	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.56	-0.25
Sortino ratio: Return per unit of downside risk	2.01	2.05	-0.05
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	1.80	2.32	-0.52
Martin ratio: Return relative to average drawdown	4.93	8.39	-3.46

JOJO vs. NBCM - Sharpe Ratio Comparison

The current JOJO Sharpe Ratio is 1.31, which is comparable to the NBCM Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of JOJO and NBCM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JOJO vs. NBCM - Drawdown Comparison

The maximum JOJO drawdown since its inception was -28.43%, which is greater than NBCM's maximum drawdown of -12.84%. Use the drawdown chart below to compare losses from any high point for JOJO and NBCM.

Drawdown Indicators

	JOJO	NBCM	Difference
Max Drawdown Largest peak-to-trough decline	-28.43%	-12.84%	-15.59%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-11.86%	+6.93%
Max Drawdown (3Y) Largest decline over 3 years	-9.43%	-11.86%	+2.43%
Current Drawdown Current decline from peak	-6.08%	-11.86%	+5.78%
Average Drawdown Average peak-to-trough decline	-15.71%	-4.24%	-11.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	3.38%	-1.58%

Volatility

JOJO vs. NBCM - Volatility Comparison

The current volatility for ATAC Credit Rotation ETF (JOJO) is 1.79%, while Neuberger Berman Commodity Strategy ETF (NBCM) has a volatility of 3.40%. This indicates that JOJO experiences smaller price fluctuations and is considered to be less risky than NBCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JOJO	NBCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.79%	3.40%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	5.09%	15.56%	-10.47%
Volatility (1Y) Calculated over the trailing 1-year period	6.80%	17.68%	-10.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.27%	14.93%	-3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	14.93%	-3.66%

JOJO vs. NBCM - Expense Ratio Comparison

JOJO has a 1.28% expense ratio, which is higher than NBCM's 0.66% expense ratio.

Dividends

JOJO vs. NBCM - Dividend Comparison

JOJO's dividend yield for the trailing twelve months is around 5.14%, less than NBCM's 7.06% yield.

Position	TTM	2025	2024	2023	2022	2021
JOJO ATAC Credit Rotation ETF	5.14%	4.78%	4.88%	4.30%	3.63%	2.53%
NBCM Neuberger Berman Commodity Strategy ETF	7.06%	8.46%	5.22%	4.37%	0.80%	0.00%

Frequently Asked Questions

Can I hold both JOJO and NBCM in my portfolio?

JOJO and NBCM have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JOJO or NBCM?

NBCM has higher volatility (3.40%) compared to JOJO (1.79%). In terms of maximum drawdown, JOJO dropped -28.43% vs NBCM's -12.84%.

Which ETF is better, JOJO or NBCM?

On 3-year performance, NBCM leads with 14.59% vs 6.82% for JOJO. On fees, NBCM is cheaper at 0.66% per year. On volatility, JOJO has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JOJO or NBCM?

Over the 3-year period, NBCM has performed better with a 14.59% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JOJO or NBCM?

NBCM is cheaper with a 0.66% expense ratio, compared with 1.28% for JOJO.

Which ETF pays a higher dividend yield, JOJO or NBCM?

NBCM has the higher dividend yield at 7.06%, compared with 5.14% for JOJO.

What is the main difference between JOJO and NBCM?

JOJO is categorized as Multisector Bonds, while NBCM is Commodities. They also come from different issuers: ATAC and Neuberger Berman. Their fees differ too: 1.28% for JOJO and 0.66% for NBCM.

Which has better risk-adjusted returns?

NBCM currently has the higher Sharpe Ratio (1.56 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.