NBCM vs. GIBIX

Last updated Aug 2, 2026

NBCM (Neuberger Berman Commodity Strategy ETF) and GIBIX (Guggenheim Total Return Bond Fund) are both funds - NBCM is a Commodities fund actively managed by Neuberger Berman, while GIBIX is a Intermediate Core-Plus Bond fund managed by Guggenheim. Over the past 3 years, NBCM returned 14.54%/yr vs 4.93%/yr for GIBIX. Their -0.06 correlation means they have often moved in opposite directions in the past. NBCM charges 0.66%/yr vs 0.50%/yr for GIBIX.

Performance

NBCM vs. GIBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Commodity Strategy ETF (NBCM) and Guggenheim Total Return Bond Fund (GIBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBCM achieves a 26.45% return, which is significantly higher than GIBIX's -0.49% return.

NBCM

• 1D: 0.07%
• 1M: 7.80%
• 6M: 15.69%
• YTD: 26.45%
• 1Y: 39.66%
• 3Y*: 14.54%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.55%

GIBIX

• 1D: 0.00%
• 1M: -1.31%
• 6M: -0.86%
• YTD: -0.49%
• 1Y: 2.34%
• 3Y*: 4.93%
• 5Y*: -0.17%
• 10Y*: 2.46%
• ALL TIME*: 3.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GIBIX Guggenheim Total Return Bond Fund	$0.00	$0.00	$0.00
NBCM Neuberger Berman Commodity Strategy ETF	$2.21M	$2.59M	$2.25M

NBCM vs. GIBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NBCM Neuberger Berman Commodity Strategy ETF	26.45%	17.45%	6.55%	-6.41%	5.39%
GIBIX Guggenheim Total Return Bond Fund	-0.49%	8.22%	3.18%	7.45%	5.20%

Correlation

The correlation between NBCM and GIBIX is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.25
Correlation (3Y) Balances recent behavior with more history.	-0.11
Correlation (All Time) Calculated using the full available price history since Oct 24, 2022	-0.06

The correlation between NBCM and GIBIX shifts across timeframes, from -0.25 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NBCM vs. GIBIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBCM

NBCM Risk / Return Rank: 80
NBCM Sharpe Ratio Rank: 89
NBCM Sortino Ratio Rank: 83
NBCM Omega Ratio Rank: 86
NBCM Calmar Ratio Rank: 75
NBCM Martin Ratio Rank: 68

GIBIX

GIBIX Risk / Return Rank: 27
GIBIX Sharpe Ratio Rank: 29
GIBIX Sortino Ratio Rank: 29
GIBIX Omega Ratio Rank: 27
GIBIX Calmar Ratio Rank: 27
GIBIX Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBCM vs. GIBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and Guggenheim Total Return Bond Fund (GIBIX). 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	GIBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	0.94	+1.22
Sortino ratio: Return per unit of downside risk	2.74	1.40	+1.35
Omega ratio: Gain probability vs. loss probability	1.38	1.16	+0.21
Calmar ratio: Return relative to maximum drawdown	2.64	1.20	+1.44
Martin ratio: Return relative to average drawdown	8.37	3.20	+5.17

NBCM vs. GIBIX - Sharpe Ratio Comparison

The current NBCM Sharpe Ratio is 2.16, which is higher than the GIBIX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of NBCM and GIBIX, 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

NBCM vs. GIBIX - Drawdown Comparison

The maximum NBCM drawdown since its inception was -14.78%, smaller than the maximum GIBIX drawdown of -21.44%. Use the drawdown chart below to compare losses from any high point for NBCM and GIBIX.

Drawdown Indicators

	NBCM	GIBIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.78%	-21.44%	+6.66%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-2.99%	-11.79%
Max Drawdown (3Y) Largest decline over 3 years	-14.78%	-4.94%	-9.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.44%	—
Current Drawdown Current decline from peak	-6.98%	-2.27%	-4.71%
Average Drawdown Average peak-to-trough decline	-4.40%	-3.40%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.65%	1.12%	+3.53%

Volatility

NBCM vs. GIBIX - Volatility Comparison

Neuberger Berman Commodity Strategy ETF (NBCM) has a higher volatility of 4.62% compared to Guggenheim Total Return Bond Fund (GIBIX) at 0.91%. This indicates that NBCM's price experiences larger fluctuations and is considered to be riskier than GIBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCM	GIBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	0.91%	+3.71%
Volatility (6M) Calculated over the trailing 6-month period	15.33%	3.08%	+12.25%
Volatility (1Y) Calculated over the trailing 1-year period	18.09%	3.85%	+14.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	5.83%	+9.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.00%	4.78%	+10.22%

NBCM vs. GIBIX - Expense Ratio Comparison

NBCM has a 0.66% expense ratio, which is higher than GIBIX's 0.50% expense ratio.

Dividends

NBCM vs. GIBIX - Dividend Comparison

NBCM's dividend yield for the trailing twelve months is around 6.69%, more than GIBIX's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIBIX Guggenheim Total Return Bond Fund	4.75%	5.03%	4.71%	4.44%	3.08%	3.36%	4.80%	2.38%	3.25%	3.38%	4.68%	4.39%
NBCM Neuberger Berman Commodity Strategy ETF	6.69%	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

Can I hold both NBCM and GIBIX in my portfolio?

NBCM and GIBIX have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBCM or GIBIX?

NBCM has higher volatility (4.62%) compared to GIBIX (0.91%). In terms of maximum drawdown, NBCM dropped -14.78% vs GIBIX's -21.44%.

Which has better risk-adjusted returns?

NBCM currently has the higher Sharpe Ratio (2.16 vs 0.94), 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.