NBCE vs. JCHI

Last updated Jun 5, 2026

NBCE (Neuberger Berman China Equity ETF) and JCHI (JPMorgan Active China ETF) are both China Equities funds. Both are actively managed. Over the past year, NBCE returned 61.44% vs 16.23% for JCHI. Their correlation of 0.83 suggests significant overlap in exposure. NBCE charges 0.74%/yr vs 0.65%/yr for JCHI.

Performance

NBCE vs. JCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman China Equity ETF (NBCE) and JPMorgan Active China ETF (JCHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBCE achieves a 26.83% return, which is significantly higher than JCHI's 0.50% return.

NBCE

• 1D: 0.75%
• 1M: 8.86%
• YTD: 26.83%
• 6M: 30.65%
• 1Y: 61.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JCHI

• 1D: -0.09%
• 1M: -0.31%
• YTD: 0.50%
• 6M: -0.36%
• 1Y: 16.23%
• 3Y*: 8.99%
• 5Y*: —
• 10Y*: —

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

NBCE vs. JCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBCE Neuberger Berman China Equity ETF	26.83%	39.08%	3.35%	-2.22%
JCHI JPMorgan Active China ETF	0.50%	27.66%	13.77%	-4.29%

Correlation

The correlation between NBCE and JCHI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 17, 2023	0.83

The correlation between NBCE and JCHI has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

NBCE vs. JCHI - Sectors Allocation Comparison

Sectors	NBCE	JCHI
Technology	28.7%	14.7%
Industrials	17.3%	10.7%
Financial Services	15.2%	20.6%
Basic Materials	13.7%	6.7%
Consumer Cyclical	7.9%	20.6%
Consumer Defensive	5.5%	4.1%
Healthcare	4.6%	4.7%
Energy	3.5%	3.3%
Utilities	1.7%	-
Communication Services	1.2%	14.5%
Real Estate	0.9%	-

Return for Risk

NBCE vs. JCHI — Risk / Return Rank

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

NBCE

NBCE Risk / Return Rank: 92
NBCE Sharpe Ratio Rank: 92
NBCE Sortino Ratio Rank: 91
NBCE Omega Ratio Rank: 90
NBCE Calmar Ratio Rank: 93
NBCE Martin Ratio Rank: 92

JCHI

JCHI Risk / Return Rank: 25
JCHI Sharpe Ratio Rank: 26
JCHI Sortino Ratio Rank: 26
JCHI Omega Ratio Rank: 26
JCHI Calmar Ratio Rank: 25
JCHI Martin Ratio Rank: 22

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. JCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) and JPMorgan Active China ETF (JCHI). 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.

	NBCE	JCHI	Difference
Sharpe ratio: Return per unit of total volatility	3.33	0.93	+2.40
Sortino ratio: Return per unit of downside risk	4.26	1.40	+2.86
Omega ratio: Gain probability vs. loss probability	1.57	1.17	+0.40
Calmar ratio: Return relative to maximum drawdown	6.69	1.13	+5.56
Martin ratio: Return relative to average drawdown	22.44	2.74	+19.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBCE vs. JCHI - Sharpe Ratio Comparison

The current NBCE Sharpe Ratio is 3.33, which is higher than the JCHI Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of NBCE and JCHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NBCE	JCHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	0.93	+2.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.25	+0.78

Drawdowns

NBCE vs. JCHI - Drawdown Comparison

The maximum NBCE drawdown since its inception was -28.42%, roughly equal to the maximum JCHI drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for NBCE and JCHI.

Drawdown Indicators

	NBCE	JCHI	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-29.57%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	-9.23%	-14.37%	+5.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.47%	—
Current Drawdown Current decline from peak	0.00%	-7.41%	+7.41%
Average Drawdown Average peak-to-trough decline	-9.12%	-13.33%	+4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	5.93%	-3.18%

Volatility

NBCE vs. JCHI - Volatility Comparison

Neuberger Berman China Equity ETF (NBCE) has a higher volatility of 7.21% compared to JPMorgan Active China ETF (JCHI) at 6.28%. This indicates that NBCE's price experiences larger fluctuations and is considered to be riskier than JCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCE	JCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	6.28%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	12.32%	+1.05%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	17.59%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.03%	24.86%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.03%	24.86%	-0.83%

NBCE vs. JCHI - Expense Ratio Comparison

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

Dividends

NBCE vs. JCHI - Dividend Comparison

NBCE's dividend yield for the trailing twelve months is around 1.04%, less than JCHI's 1.80% yield.

Position	TTM	2025	2024	2023
JCHI JPMorgan Active China ETF	1.80%	1.81%	2.12%	2.13%
NBCE Neuberger Berman China Equity ETF	1.04%	1.32%	1.20%	0.00%

Frequently Asked Questions

Can I hold both NBCE and JCHI in my portfolio?

NBCE and JCHI have a correlation of 0.79, 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 JCHI?

NBCE has higher volatility (7.21%) compared to JCHI (6.28%). In terms of maximum drawdown, NBCE dropped -28.42% vs JCHI's -29.57%.

Which ETF is better, NBCE or JCHI?

On 1-year performance, NBCE leads with 61.44% vs 16.23% for JCHI. On fees, JCHI is cheaper at 0.65% per year. On volatility, JCHI has been the lower-risk option at 6.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBCE or JCHI?

Over the 1-year period, NBCE has performed better with a 61.44% return vs 16.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCE or JCHI?

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

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

JCHI has the higher dividend yield at 1.80%, compared with 1.04% for NBCE.

What is the main difference between NBCE and JCHI?

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

Which has better risk-adjusted returns?

NBCE currently has the higher Sharpe Ratio (3.33 vs 0.93), 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.