NBCE vs. CAS

Last updated Jul 14, 2026

NBCE (Neuberger Berman China Equity ETF) and CAS (Simplify China A Shares PLUS Income ETF) are both China Equities funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. NBCE charges 0.74%/yr vs 0.88%/yr for CAS.

Performance

NBCE vs. CAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman China Equity ETF (NBCE) and Simplify China A Shares PLUS Income ETF (CAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBCE

• 1D: -3.59%
• 1M: -3.29%
• 6M: 13.41%
• YTD: 18.65%
• 1Y: 47.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAS

• 1D: -4.63%
• 1M: -2.07%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBCE vs. CAS - Yearly Performance Comparison

	2026 (YTD)
NBCE Neuberger Berman China Equity ETF	-5.17%
CAS Simplify China A Shares PLUS Income ETF	-5.99%

Correlation

The correlation between NBCE and CAS is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.89

NBCE vs. CAS - Sectors Allocation Comparison

Sectors	NBCE	CAS
Technology	33.7%	-
Industrials	17.7%	-
Financial Services	14.0%	40.5%
Basic Materials	11.7%	-
Consumer Cyclical	6.8%	-
Consumer Defensive	4.3%	-
Healthcare	4.2%	-
Energy	3.7%	-
Utilities	1.6%	-
Real Estate	1.5%	-
Communication Services	0.9%	-

Return for Risk

NBCE vs. CAS — Risk / Return Rank

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

NBCE

NBCE Risk / Return Rank: 83
NBCE Sharpe Ratio Rank: 84
NBCE Sortino Ratio Rank: 78
NBCE Omega Ratio Rank: 81
NBCE Calmar Ratio Rank: 84
NBCE Martin Ratio Rank: 88

CAS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

NBCE vs. CAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) and Simplify China A Shares PLUS Income ETF (CAS). 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.

	NBCE	CAS	Difference
Sharpe ratio: Return per unit of total volatility	2.13	—	—
Sortino ratio: Return per unit of downside risk	2.76	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.64	—	—
Martin ratio: Return relative to average drawdown	14.66	—	—

Drawdowns

NBCE vs. CAS - Drawdown Comparison

The maximum NBCE drawdown since its inception was -28.42%, which is greater than CAS's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for NBCE and CAS.

Drawdown Indicators

	NBCE	CAS	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-9.35%	-19.07%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	—	—
Current Drawdown Current decline from peak	-12.98%	-9.35%	-3.63%
Average Drawdown Average peak-to-trough decline	-8.92%	-3.11%	-5.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	—	—

Volatility

Volatility by Period

	NBCE	CAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.28%	32.32%	-10.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.79%	32.32%	-7.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.79%	32.32%	-7.53%

NBCE vs. CAS - Expense Ratio Comparison

NBCE has a 0.74% expense ratio, which is lower than CAS's 0.88% expense ratio.

Dividends

NBCE vs. CAS - Dividend Comparison

NBCE's dividend yield for the trailing twelve months is around 1.12%, more than CAS's 0.38% yield.

Position	TTM	2025	2024
CAS Simplify China A Shares PLUS Income ETF	0.38%	0.00%	0.00%
NBCE Neuberger Berman China Equity ETF	1.12%	1.32%	1.20%

Frequently Asked Questions

Can I hold both NBCE and CAS in my portfolio?

NBCE and CAS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBCE or CAS?

On fees, NBCE is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBCE or CAS?

NBCE is cheaper with a 0.74% expense ratio, compared with 0.88% for CAS.

Which ETF pays a higher dividend yield, NBCE or CAS?

NBCE has the higher dividend yield at 1.12%, compared with 0.38% for CAS.

What is the main difference between NBCE and CAS?

They also come from different issuers: Neuberger Berman and Simplify. Their fees differ too: 0.74% for NBCE and 0.88% for CAS.