NBCE vs. CNXT

Last updated Jun 24, 2026

NBCE (Neuberger Berman China Equity ETF) and CNXT (VanEck Vectors ChinaAMC SME-ChiNext ETF) are both China Equities funds. NBCE is actively managed, while CNXT is passively managed. Over the past year, NBCE returned 68.17% vs 122.39% for CNXT. Their correlation of 0.86 suggests significant overlap in exposure. NBCE charges 0.74%/yr vs 0.65%/yr for CNXT.

Performance

NBCE vs. CNXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman China Equity ETF (NBCE) and VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBCE achieves a 32.09% return, which is significantly lower than CNXT's 36.42% return.

NBCE

• 1D: -3.12%
• 1M: 7.62%
• YTD: 32.09%
• 6M: 32.92%
• 1Y: 68.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CNXT

• 1D: -4.05%
• 1M: 7.53%
• YTD: 36.42%
• 6M: 34.79%
• 1Y: 122.39%
• 3Y*: 28.78%
• 5Y*: 4.73%
• 10Y*: 7.44%

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

NBCE vs. CNXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBCE Neuberger Berman China Equity ETF	32.09%	39.08%	3.35%	-2.22%
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	36.42%	59.31%	12.42%	-2.68%

Correlation

The correlation between NBCE and CNXT is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 16, 2023	0.86

The correlation between NBCE and CNXT has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

NBCE vs. CNXT - Sectors Allocation Comparison

Sectors	NBCE	CNXT
Technology	33.7%	39.9%
Industrials	17.7%	42.4%
Financial Services	14.0%	3.4%
Basic Materials	11.7%	4.7%
Consumer Cyclical	6.8%	0.7%
Consumer Defensive	4.3%	1.4%
Healthcare	4.2%	3.8%
Energy	3.7%	-
Utilities	1.6%	-
Real Estate	1.5%	-
Communication Services	0.9%	1.0%

Return for Risk

NBCE vs. CNXT — Risk / Return Rank

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

NBCE

NBCE Risk / Return Rank: 94
NBCE Sharpe Ratio Rank: 95
NBCE Sortino Ratio Rank: 93
NBCE Omega Ratio Rank: 92
NBCE Calmar Ratio Rank: 95
NBCE Martin Ratio Rank: 94

CNXT

CNXT Risk / Return Rank: 94
CNXT Sharpe Ratio Rank: 96
CNXT Sortino Ratio Rank: 93
CNXT Omega Ratio Rank: 90
CNXT Calmar Ratio Rank: 97
CNXT Martin Ratio Rank: 95

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. CNXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) and VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT). 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	CNXT	Difference
Sharpe ratio: Return per unit of total volatility	3.36	3.81	-0.46
Sortino ratio: Return per unit of downside risk	4.21	4.38	-0.16
Omega ratio: Gain probability vs. loss probability	1.58	1.56	+0.03
Calmar ratio: Return relative to maximum drawdown	7.43	10.08	-2.66
Martin ratio: Return relative to average drawdown	24.33	29.76	-5.42

NBCE vs. CNXT - Sharpe Ratio Comparison

The current NBCE Sharpe Ratio is 3.36, which is comparable to the CNXT Sharpe Ratio of 3.81. The chart below compares the historical Sharpe Ratios of NBCE and CNXT, 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

NBCE vs. CNXT - Drawdown Comparison

The maximum NBCE drawdown since its inception was -28.42%, smaller than the maximum CNXT drawdown of -68.98%. Use the drawdown chart below to compare losses from any high point for NBCE and CNXT.

Drawdown Indicators

	NBCE	CNXT	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-68.98%	+40.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.23%	-12.21%	+2.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-48.60%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-61.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.30%	—
Current Drawdown Current decline from peak	-3.12%	-4.05%	+0.93%
Average Drawdown Average peak-to-trough decline	-8.98%	-42.76%	+33.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	4.13%	-1.32%

Volatility

NBCE vs. CNXT - Volatility Comparison

The current volatility for Neuberger Berman China Equity ETF (NBCE) is 9.69%, while VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) has a volatility of 12.58%. This indicates that NBCE experiences smaller price fluctuations and is considered to be less risky than CNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCE	CNXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	12.58%	-2.89%
Volatility (6M) Calculated over the trailing 6-month period	15.74%	22.32%	-6.58%
Volatility (1Y) Calculated over the trailing 1-year period	20.40%	32.27%	-11.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.39%	35.52%	-11.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	31.77%	-7.38%

NBCE vs. CNXT - Expense Ratio Comparison

NBCE has a 0.74% expense ratio, which is higher than CNXT's 0.65% expense ratio.

Dividends

NBCE vs. CNXT - Dividend Comparison

NBCE's dividend yield for the trailing twelve months is around 1.00%, more than CNXT's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	0.13%	0.18%	0.15%	0.00%	0.00%	9.22%	0.01%	0.45%	0.00%	0.19%
NBCE Neuberger Berman China Equity ETF	1.00%	1.32%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBCE and CNXT in my portfolio?

NBCE and CNXT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBCE or CNXT?

CNXT has higher volatility (12.58%) compared to NBCE (9.69%). In terms of maximum drawdown, NBCE dropped -28.42% vs CNXT's -68.98%.

Which ETF is better, NBCE or CNXT?

On 1-year performance, CNXT leads with 122.39% vs 68.17% for NBCE. On fees, CNXT is cheaper at 0.65% per year. On volatility, NBCE has been the lower-risk option at 9.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBCE or CNXT?

Over the 1-year period, CNXT has performed better with a 122.39% return vs 68.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCE or CNXT?

CNXT is cheaper with a 0.65% expense ratio, compared with 0.74% for NBCE.

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

NBCE has the higher dividend yield at 1.00%, compared with 0.13% for CNXT.

What is the main difference between NBCE and CNXT?

They also come from different issuers: Neuberger Berman and VanEck. Their fees differ too: 0.74% for NBCE and 0.65% for CNXT.

Which has better risk-adjusted returns?

CNXT currently has the higher Sharpe Ratio (3.81 vs 3.36), 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.