NBCM vs. NBJP

Last updated Jun 5, 2026

NBCM (Neuberger Berman Commodity Strategy ETF) and NBJP (Neuberger Berman Japan Equity ETF) are both exchange-traded funds - NBCM is a Commodities fund actively managed by Neuberger Berman, while NBJP is a Japan Equities fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBCM returned 43.15% vs 35.70% for NBJP. At a 0.04 correlation, their price movements are largely independent. NBCM charges 0.66%/yr vs 0.50%/yr for NBJP.

Performance

NBCM vs. NBJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Commodity Strategy ETF (NBCM) and Neuberger Berman Japan Equity ETF (NBJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBCM achieves a 28.62% return, which is significantly higher than NBJP's 19.10% return.

NBCM

• 1D: -0.95%
• 1M: -2.98%
• YTD: 28.62%
• 6M: 28.05%
• 1Y: 43.15%
• 3Y*: 18.06%
• 5Y*: —
• 10Y*: —

NBJP

• 1D: 0.19%
• 1M: 6.21%
• YTD: 19.10%
• 6M: 20.98%
• 1Y: 35.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBCM vs. NBJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBCM Neuberger Berman Commodity Strategy ETF	28.62%	17.45%	5.20%
NBJP Neuberger Berman Japan Equity ETF	19.10%	30.41%	-3.34%

Correlation

The correlation between NBCM and NBJP is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Sep 13, 2024	0.04

Return for Risk

NBCM vs. NBJP — Risk / Return Rank

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

NBCM

NBCM Risk / Return Rank: 77
NBCM Sharpe Ratio Rank: 78
NBCM Sortino Ratio Rank: 68
NBCM Omega Ratio Rank: 76
NBCM Calmar Ratio Rank: 84
NBCM Martin Ratio Rank: 81

NBJP

NBJP Risk / Return Rank: 54
NBJP Sharpe Ratio Rank: 55
NBJP Sortino Ratio Rank: 55
NBJP Omega Ratio Rank: 53
NBJP Calmar Ratio Rank: 52
NBJP Martin Ratio Rank: 53

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. NBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and Neuberger Berman Japan Equity ETF (NBJP). 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	NBJP	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.82	+0.67
Sortino ratio: Return per unit of downside risk	3.07	2.58	+0.49
Omega ratio: Gain probability vs. loss probability	1.44	1.33	+0.12
Calmar ratio: Return relative to maximum drawdown	4.47	2.50	+1.97
Martin ratio: Return relative to average drawdown	15.96	8.99	+6.97
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. NBJP - Sharpe Ratio Comparison

The current NBCM Sharpe Ratio is 2.49, which is higher than the NBJP Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of NBCM and NBJP, 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	NBJP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.82	+0.67
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.37	-0.45

Drawdowns

NBCM vs. NBJP - Drawdown Comparison

The maximum NBCM drawdown since its inception was -12.84%, smaller than the maximum NBJP drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for NBCM and NBJP.

Drawdown Indicators

	NBCM	NBJP	Difference
Max Drawdown Largest peak-to-trough decline	-12.84%	-14.34%	+1.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.70%	-14.34%	+4.64%
Max Drawdown (3Y) Largest decline over 3 years	-11.47%	—	—
Current Drawdown Current decline from peak	-5.39%	-0.61%	-4.78%
Average Drawdown Average peak-to-trough decline	-4.18%	-3.22%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	3.98%	-1.27%

Volatility

NBCM vs. NBJP - Volatility Comparison

The current volatility for Neuberger Berman Commodity Strategy ETF (NBCM) is 5.03%, while Neuberger Berman Japan Equity ETF (NBJP) has a volatility of 5.43%. This indicates that NBCM experiences smaller price fluctuations and is considered to be less risky than NBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCM	NBJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	5.43%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	15.49%	16.50%	-1.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.43%	19.70%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	19.52%	-4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	19.52%	-4.58%

NBCM vs. NBJP - Expense Ratio Comparison

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

Dividends

NBCM vs. NBJP - Dividend Comparison

NBCM's dividend yield for the trailing twelve months is around 6.57%, more than NBJP's 1.92% yield.

Position	TTM	2025	2024	2023	2022
NBCM Neuberger Berman Commodity Strategy ETF	6.57%	8.46%	5.22%	4.37%	0.80%
NBJP Neuberger Berman Japan Equity ETF	1.92%	2.29%	0.75%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBCM and NBJP in my portfolio?

NBCM and NBJP have a correlation of -0.03, 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 NBJP?

NBJP has higher volatility (5.43%) compared to NBCM (5.03%). In terms of maximum drawdown, NBCM dropped -12.84% vs NBJP's -14.34%.

Which ETF is better, NBCM or NBJP?

On 1-year performance, NBCM leads with 43.15% vs 35.70% for NBJP. On fees, NBJP is cheaper at 0.50% per year. On volatility, NBCM has been the lower-risk option at 5.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBCM or NBJP?

Over the 1-year period, NBCM has performed better with a 43.15% return vs 35.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCM or NBJP?

NBJP is cheaper with a 0.50% expense ratio, compared with 0.66% for NBCM.

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

NBCM has the higher dividend yield at 6.57%, compared with 1.92% for NBJP.

What is the main difference between NBCM and NBJP?

NBCM is categorized as Commodities, while NBJP is Japan Equities. Their fees differ too: 0.66% for NBCM and 0.50% for NBJP.

Which has better risk-adjusted returns?

NBCM currently has the higher Sharpe Ratio (2.49 vs 1.82), 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.