NBCM vs. BG
NBCM (Neuberger Berman Commodity Strategy ETF) is Commodities fund actively managed by Neuberger Berman, while BG (Bunge Limited) is a stock. Over the past 3 years, NBCM returned 14.74%/yr vs 6.89%/yr for BG. At a 0.30 correlation, their price movements are largely independent.
Performance
NBCM vs. BG - Performance Comparison
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Returns By Period
In the year-to-date period, NBCM achieves a 21.59% return, which is significantly lower than BG's 29.85% return.
NBCM
- 1D
- -0.29%
- 1M
- -1.75%
- 6M
- 18.42%
- YTD
- 21.59%
- 1Y
- 31.14%
- 3Y*
- 14.74%
- 5Y*
- —
- 10Y*
- —
BG
- 1D
- 0.62%
- 1M
- -8.75%
- 6M
- 15.68%
- YTD
- 29.85%
- 1Y
- 53.17%
- 3Y*
- 6.89%
- 5Y*
- 11.18%
- 10Y*
- 9.82%
NBCM vs. BG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NBCM Neuberger Berman Commodity Strategy ETF | 21.59% | 17.45% | 6.55% | -6.41% | 5.39% |
BG Bunge Limited | 29.85% | 18.56% | -20.74% | 3.79% | 10.57% |
Correlation
The correlation between NBCM and BG is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2022 | 0.30 |
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Return for Risk
NBCM vs. BG — Risk / Return Rank
NBCM
BG
NBCM vs. BG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and Bunge Limited (BG). 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.
| NBCM | BG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.67 | -0.46 |
| Martin ratioReturn relative to average drawdown | 7.47 | 9.27 | -1.80 |
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Drawdowns
NBCM vs. BG - Drawdown Comparison
The maximum NBCM drawdown since its inception was -14.78%, smaller than the maximum BG drawdown of -77.34%. Use the drawdown chart below to compare losses from any high point for NBCM and BG.
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Drawdown Indicators
| NBCM | BG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -77.34% | +62.56% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -20.18% | +5.40% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -38.82% | +24.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.49% | — |
Current DrawdownCurrent decline from peak | -10.56% | -13.01% | +2.45% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -28.83% | +24.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | 5.80% | -1.45% |
Volatility
NBCM vs. BG - Volatility Comparison
The current volatility for Neuberger Berman Commodity Strategy ETF (NBCM) is 4.62%, while Bunge Limited (BG) has a volatility of 9.66%. This indicates that NBCM experiences smaller price fluctuations and is considered to be less risky than BG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBCM | BG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 9.66% | -5.04% |
Volatility (6M)Calculated over the trailing 6-month period | 15.35% | 20.94% | -5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.89% | 30.89% | -13.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 29.36% | -14.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 31.04% | -16.05% |
Dividends
NBCM vs. BG - Dividend Comparison
NBCM's dividend yield for the trailing twelve months is around 6.95%, more than BG's 2.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BG Bunge Limited | 2.47% | 3.12% | 3.48% | 2.55% | 2.31% | 2.76% | 3.05% | 3.48% | 3.59% | 2.62% | 2.21% | 2.11% |
NBCM Neuberger Berman Commodity Strategy ETF | 6.95% | 8.46% | 5.22% | 4.37% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NBCM and BG have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BG has higher volatility (9.66%) compared to NBCM (4.62%). In terms of maximum drawdown, NBCM dropped -14.78% vs BG's -77.34%.
NBCM currently has the higher Sharpe Ratio (1.82 vs 1.74), 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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