NBCM vs. BCD
NBCM (Neuberger Berman Commodity Strategy ETF) and BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) are both Commodities funds. Both are actively managed. Over the past 3 years, NBCM returned 18.06%/yr vs 14.01%/yr for BCD. Their correlation of 0.94 suggests significant overlap in exposure. NBCM charges 0.66%/yr vs 0.29%/yr for BCD.
Performance
NBCM vs. BCD - Performance Comparison
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Returns By Period
In the year-to-date period, NBCM achieves a 28.62% return, which is significantly higher than BCD's 19.57% return.
NBCM
- 1D
- -0.95%
- 1M
- -2.98%
- YTD
- 28.62%
- 6M
- 28.05%
- 1Y
- 43.15%
- 3Y*
- 18.06%
- 5Y*
- —
- 10Y*
- —
BCD
- 1D
- -0.72%
- 1M
- -2.04%
- YTD
- 19.57%
- 6M
- 19.32%
- 1Y
- 30.65%
- 3Y*
- 14.01%
- 5Y*
- 11.82%
- 10Y*
- —
NBCM vs. BCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NBCM Neuberger Berman Commodity Strategy ETF | 28.62% | 17.45% | 6.55% | -6.41% | 5.23% |
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 19.57% | 15.71% | 6.20% | -7.58% | 3.85% |
Correlation
The correlation between NBCM and BCD is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2022 | 0.94 |
The correlation between NBCM and BCD has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
NBCM vs. BCD — Risk / Return Rank
NBCM
BCD
NBCM vs. BCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD). 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.
| NBCM | BCD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.41 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.47 | 4.26 | +0.21 |
| Martin ratioReturn relative to average drawdown | 15.96 | 12.04 | +3.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NBCM | BCD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.24 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.66 | +0.25 |
Drawdowns
NBCM vs. BCD - Drawdown Comparison
The maximum NBCM drawdown since its inception was -12.84%, smaller than the maximum BCD drawdown of -29.81%. Use the drawdown chart below to compare losses from any high point for NBCM and BCD.
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Drawdown Indicators
| NBCM | BCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.84% | -29.81% | +16.97% |
Max Drawdown (1Y)Largest decline over 1 year | -9.70% | -7.22% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -10.50% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.03% | — |
Current DrawdownCurrent decline from peak | -5.39% | -4.30% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -9.85% | +5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 2.55% | +0.16% |
Volatility
NBCM vs. BCD - Volatility Comparison
Neuberger Berman Commodity Strategy ETF (NBCM) has a higher volatility of 5.03% compared to abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) at 4.38%. This indicates that NBCM's price experiences larger fluctuations and is considered to be riskier than BCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBCM | BCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 4.38% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.49% | 11.77% | +3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.43% | 13.74% | +3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 15.40% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.94% | 13.90% | +1.04% |
NBCM vs. BCD - Expense Ratio Comparison
NBCM has a 0.66% expense ratio, which is higher than BCD's 0.29% expense ratio.
Dividends
NBCM vs. BCD - Dividend Comparison
NBCM's dividend yield for the trailing twelve months is around 6.57%, less than BCD's 14.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 14.40% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
NBCM Neuberger Berman Commodity Strategy ETF | 6.57% | 8.46% | 5.22% | 4.37% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, NBCM and BCD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NBCM has higher volatility (5.03%) compared to BCD (4.38%). In terms of maximum drawdown, NBCM dropped -12.84% vs BCD's -29.81%.
On 3-year performance, NBCM leads with 18.06% vs 14.01% for BCD. On fees, BCD is cheaper at 0.29% per year. On volatility, BCD has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NBCM has performed better with a 18.06% return vs 14.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCD is cheaper with a 0.29% expense ratio, compared with 0.66% for NBCM.
BCD has the higher dividend yield at 14.40%, compared with 6.57% for NBCM.
They also come from different issuers: Neuberger Berman and Aberdeen. Their fees differ too: 0.66% for NBCM and 0.29% for BCD.
NBCM currently has the higher Sharpe Ratio (2.49 vs 2.24), 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.
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