NBCM vs. GPIQ

Last updated Jun 4, 2026

NBCM (Neuberger Berman Commodity Strategy ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - NBCM is a Commodities fund actively managed by Neuberger Berman, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, NBCM returned 44.53% vs 37.50% for GPIQ. At a 0.08 correlation, their price movements are largely independent. NBCM charges 0.66%/yr vs 0.29%/yr for GPIQ.

Performance

NBCM vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Commodity Strategy ETF (NBCM) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBCM achieves a 29.86% return, which is significantly higher than GPIQ's 18.30% return.

NBCM

• 1D: -0.24%
• 1M: -2.07%
• YTD: 29.86%
• 6M: 29.49%
• 1Y: 44.53%
• 3Y*: 18.47%
• 5Y*: —
• 10Y*: —

GPIQ

• 1D: -0.19%
• 1M: 8.51%
• YTD: 18.30%
• 6M: 17.64%
• 1Y: 37.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBCM vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBCM Neuberger Berman Commodity Strategy ETF	29.86%	17.45%	6.55%	-3.73%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	18.30%	19.77%	23.22%	15.38%

Correlation

The correlation between NBCM and GPIQ is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.08

The correlation between NBCM and GPIQ shifts across timeframes, from -0.06 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NBCM vs. GPIQ — Risk / Return Rank

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

NBCM

NBCM Risk / Return Rank: 78
NBCM Sharpe Ratio Rank: 79
NBCM Sortino Ratio Rank: 69
NBCM Omega Ratio Rank: 77
NBCM Calmar Ratio Rank: 85
NBCM Martin Ratio Rank: 82

GPIQ

GPIQ Risk / Return Rank: 81
GPIQ Sharpe Ratio Rank: 84
GPIQ Sortino Ratio Rank: 81
GPIQ Omega Ratio Rank: 82
GPIQ Calmar Ratio Rank: 77
GPIQ Martin Ratio Rank: 83

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.

NBCM vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). 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	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.81	-0.24
Sortino ratio: Return per unit of downside risk	3.16	3.71	-0.56
Omega ratio: Gain probability vs. loss probability	1.46	1.51	-0.05
Calmar ratio: Return relative to maximum drawdown	4.61	3.96	+0.65
Martin ratio: Return relative to average drawdown	16.60	17.48	-0.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBCM vs. GPIQ - Sharpe Ratio Comparison

The current NBCM Sharpe Ratio is 2.57, which is comparable to the GPIQ Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of NBCM and GPIQ, 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

	NBCM	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.81	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	1.78	-0.85

Drawdowns

NBCM vs. GPIQ - Drawdown Comparison

The maximum NBCM drawdown since its inception was -12.84%, smaller than the maximum GPIQ drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for NBCM and GPIQ.

Drawdown Indicators

	NBCM	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-12.84%	-21.06%	+8.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.70%	-9.51%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-11.47%	—	—
Current Drawdown Current decline from peak	-4.48%	-0.19%	-4.29%
Average Drawdown Average peak-to-trough decline	-4.17%	-2.27%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	2.15%	+0.54%

Volatility

NBCM vs. GPIQ - Volatility Comparison

Neuberger Berman Commodity Strategy ETF (NBCM) has a higher volatility of 4.96% compared to Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) at 3.39%. This indicates that NBCM's price experiences larger fluctuations and is considered to be riskier than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCM	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	3.39%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	10.44%	+5.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	13.40%	+4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	17.47%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	17.47%	-2.53%

NBCM vs. GPIQ - Expense Ratio Comparison

NBCM has a 0.66% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

NBCM vs. GPIQ - Dividend Comparison

NBCM's dividend yield for the trailing twelve months is around 6.51%, less than GPIQ's 9.32% yield.

Position	TTM	2025	2024	2023	2022
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.32%	9.81%	9.18%	1.74%	0.00%
NBCM Neuberger Berman Commodity Strategy ETF	6.51%	8.46%	5.22%	4.37%	0.80%

Frequently Asked Questions

Can I hold both NBCM and GPIQ in my portfolio?

NBCM and GPIQ have a correlation of -0.06, 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 GPIQ?

NBCM has higher volatility (4.96%) compared to GPIQ (3.39%). In terms of maximum drawdown, NBCM dropped -12.84% vs GPIQ's -21.06%.

Which ETF is better, NBCM or GPIQ?

On 1-year performance, NBCM leads with 44.53% vs 37.50% for GPIQ. On fees, GPIQ is cheaper at 0.29% per year. On volatility, GPIQ has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBCM or GPIQ?

Over the 1-year period, NBCM has performed better with a 44.53% return vs 37.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCM or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.66% for NBCM.

Which ETF pays a higher dividend yield, NBCM or GPIQ?

GPIQ has the higher dividend yield at 9.32%, compared with 6.51% for NBCM.

What is the main difference between NBCM and GPIQ?

NBCM is categorized as Commodities, while GPIQ is Nasdaq-100. They also come from different issuers: Neuberger Berman and Goldman Sachs. Their fees differ too: 0.66% for NBCM and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.81 vs 2.57), 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.