NBCE vs. NBDS

Last updated Jun 24, 2026

NBCE (Neuberger Berman China Equity ETF) and NBDS (Neuberger Berman Disrupters ETF) are both exchange-traded funds - NBCE is a China Equities fund actively managed by Neuberger Berman, while NBDS is a Technology Equities fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBCE returned 68.17% vs 26.62% for NBDS. At a 0.26 correlation, their price movements are largely independent. NBCE charges 0.74%/yr vs 0.55%/yr for NBDS.

Performance

NBCE vs. NBDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman China Equity ETF (NBCE) and Neuberger Berman Disrupters ETF (NBDS). 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 higher than NBDS's 14.85% return.

NBCE

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

NBDS

• 1D: -3.68%
• 1M: 4.22%
• YTD: 14.85%
• 6M: 12.50%
• 1Y: 26.62%
• 3Y*: 21.22%
• 5Y*: —
• 10Y*: —

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

NBCE vs. NBDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBCE Neuberger Berman China Equity ETF	32.09%	39.08%	3.35%	-2.22%
NBDS Neuberger Berman Disrupters ETF	14.85%	19.58%	17.97%	15.67%

Correlation

The correlation between NBCE and NBDS is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 16, 2023	0.26

The correlation between NBCE and NBDS shifts across timeframes, from 0.26 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.

NBCE vs. NBDS - Sectors Allocation Comparison

Sectors	NBCE	NBDS
Technology	33.7%	61.4%
Industrials	17.7%	8.2%
Financial Services	14.0%	5.6%
Basic Materials	11.7%	-
Consumer Cyclical	6.8%	5.1%
Consumer Defensive	4.3%	-
Healthcare	4.2%	9.0%
Energy	3.7%	-
Utilities	1.6%	2.4%
Real Estate	1.5%	-
Communication Services	0.9%	3.3%

Return for Risk

NBCE vs. NBDS — 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

NBDS

NBDS Risk / Return Rank: 27
NBDS Sharpe Ratio Rank: 29
NBDS Sortino Ratio Rank: 29
NBDS Omega Ratio Rank: 29
NBDS Calmar Ratio Rank: 24
NBDS Martin Ratio Rank: 24

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. NBDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) and Neuberger Berman Disrupters ETF (NBDS). 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	NBDS	Difference
Sharpe ratio: Return per unit of total volatility	3.36	1.00	+2.35
Sortino ratio: Return per unit of downside risk	4.21	1.45	+2.76
Omega ratio: Gain probability vs. loss probability	1.58	1.19	+0.40
Calmar ratio: Return relative to maximum drawdown	7.43	1.12	+6.31
Martin ratio: Return relative to average drawdown	24.33	2.90	+21.43

NBCE vs. NBDS - Sharpe Ratio Comparison

The current NBCE Sharpe Ratio is 3.36, which is higher than the NBDS Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of NBCE and NBDS, 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. NBDS - Drawdown Comparison

The maximum NBCE drawdown since its inception was -28.42%, smaller than the maximum NBDS drawdown of -29.93%. Use the drawdown chart below to compare losses from any high point for NBCE and NBDS.

Drawdown Indicators

	NBCE	NBDS	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-29.93%	+1.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.23%	-23.96%	+14.73%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.51%	—
Current Drawdown Current decline from peak	-3.12%	-3.68%	+0.56%
Average Drawdown Average peak-to-trough decline	-8.98%	-9.48%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	9.19%	-6.38%

Volatility

NBCE vs. NBDS - Volatility Comparison

The current volatility for Neuberger Berman China Equity ETF (NBCE) is 9.69%, while Neuberger Berman Disrupters ETF (NBDS) has a volatility of 11.96%. This indicates that NBCE experiences smaller price fluctuations and is considered to be less risky than NBDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCE	NBDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	11.96%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	15.74%	21.74%	-6.00%
Volatility (1Y) Calculated over the trailing 1-year period	20.40%	26.65%	-6.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.39%	27.96%	-3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	27.96%	-3.57%

NBCE vs. NBDS - Expense Ratio Comparison

NBCE has a 0.74% expense ratio, which is higher than NBDS's 0.55% expense ratio.

Dividends

NBCE vs. NBDS - Dividend Comparison

NBCE's dividend yield for the trailing twelve months is around 1.00%, more than NBDS's 0.33% yield.

Position	TTM	2025	2024
NBCE Neuberger Berman China Equity ETF	1.00%	1.32%	1.20%
NBDS Neuberger Berman Disrupters ETF	0.33%	0.38%	0.00%

Frequently Asked Questions

Can I hold both NBCE and NBDS in my portfolio?

NBCE and NBDS have a correlation of 0.41, 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 NBDS?

NBDS has higher volatility (11.96%) compared to NBCE (9.69%). In terms of maximum drawdown, NBCE dropped -28.42% vs NBDS's -29.93%.

Which ETF is better, NBCE or NBDS?

On 1-year performance, NBCE leads with 68.17% vs 26.62% for NBDS. On fees, NBDS is cheaper at 0.55% 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 NBDS?

Over the 1-year period, NBCE has performed better with a 68.17% return vs 26.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCE or NBDS?

NBDS is cheaper with a 0.55% expense ratio, compared with 0.74% for NBCE.

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

NBCE has the higher dividend yield at 1.00%, compared with 0.33% for NBDS.

What is the main difference between NBCE and NBDS?

NBCE is categorized as China Equities, while NBDS is Technology Equities. Their fees differ too: 0.74% for NBCE and 0.55% for NBDS.

Which has better risk-adjusted returns?

NBCE currently has the higher Sharpe Ratio (3.36 vs 1.00), 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.