NBCM vs. NBSD

Last updated Aug 2, 2026

NBCM (Neuberger Berman Commodity Strategy ETF) and NBSD (Neuberger Berman Short Duration Income ETF) are both exchange-traded funds - NBCM is a Commodities fund actively managed by Neuberger Berman, while NBSD is a Short-Term Bond fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBCM returned 39.66% vs 3.72% for NBSD. Their -0.06 correlation means they have often moved in opposite directions in the past. NBCM charges 0.66%/yr vs 0.35%/yr for NBSD.

Performance

NBCM vs. NBSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Commodity Strategy ETF (NBCM) and Neuberger Berman Short Duration Income ETF (NBSD). 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 NBSD's 1.35% 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%

NBSD

• 1D: 0.03%
• 1M: 0.28%
• 6M: 0.81%
• YTD: 1.35%
• 1Y: 3.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.47%

*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)
NBCM Neuberger Berman Commodity Strategy ETF	$2.21M	$2.59M	$2.25M
NBSD Neuberger Berman Short Duration Income ETF	$7.09M	$9.57M	$8.83M

NBCM vs. NBSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBCM Neuberger Berman Commodity Strategy ETF	26.45%	17.45%	0.18%
NBSD Neuberger Berman Short Duration Income ETF	1.35%	6.18%	3.93%

Correlation

The correlation between NBCM and NBSD is -0.15, 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.	-0.15
Correlation (All Time) Calculated using the full available price history since Jun 24, 2024	-0.06

Return for Risk

NBCM vs. NBSD — 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

NBSD

NBSD Risk / Return Rank: 94
NBSD Sharpe Ratio Rank: 96
NBSD Sortino Ratio Rank: 97
NBSD Omega Ratio Rank: 96
NBSD Calmar Ratio Rank: 88
NBSD Martin Ratio Rank: 94

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. NBSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Commodity Strategy ETF (NBCM) and Neuberger Berman Short Duration Income ETF (NBSD). 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	NBSD	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.98	-0.83
Sortino ratio: Return per unit of downside risk	2.74	4.89	-2.14
Omega ratio: Gain probability vs. loss probability	1.38	1.65	-0.28
Calmar ratio: Return relative to maximum drawdown	2.64	3.58	-0.94
Martin ratio: Return relative to average drawdown	8.37	18.35	-9.98

NBCM vs. NBSD - Sharpe Ratio Comparison

The current NBCM Sharpe Ratio is 2.16, which is comparable to the NBSD Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of NBCM and NBSD, 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. NBSD - Drawdown Comparison

The maximum NBCM drawdown since its inception was -14.78%, which is greater than NBSD's maximum drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for NBCM and NBSD.

Drawdown Indicators

	NBCM	NBSD	Difference
Max Drawdown Largest peak-to-trough decline	-14.78%	-2.63%	-12.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-1.19%	-13.59%
Max Drawdown (3Y) Largest decline over 3 years	-14.78%	—	—
Current Drawdown Current decline from peak	-6.98%	-0.03%	-6.95%
Average Drawdown Average peak-to-trough decline	-4.40%	-0.22%	-4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.65%	0.23%	+4.42%

Volatility

NBCM vs. NBSD - Volatility Comparison

Neuberger Berman Commodity Strategy ETF (NBCM) has a higher volatility of 4.62% compared to Neuberger Berman Short Duration Income ETF (NBSD) at 0.40%. This indicates that NBCM's price experiences larger fluctuations and is considered to be riskier than NBSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCM	NBSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	0.40%	+4.22%
Volatility (6M) Calculated over the trailing 6-month period	15.33%	1.07%	+14.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.09%	1.42%	+16.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	2.70%	+12.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.00%	2.70%	+12.30%

NBCM vs. NBSD - Expense Ratio Comparison

NBCM has a 0.66% expense ratio, which is higher than NBSD's 0.35% expense ratio.

Dividends

NBCM vs. NBSD - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022
NBCM Neuberger Berman Commodity Strategy ETF	6.69%	8.46%	5.22%	4.37%	0.80%
NBSD Neuberger Berman Short Duration Income ETF	4.75%	5.06%	2.96%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBCM and NBSD in my portfolio?

NBCM and NBSD have a correlation of -0.15, 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 NBSD?

NBCM has higher volatility (4.62%) compared to NBSD (0.40%). In terms of maximum drawdown, NBCM dropped -14.78% vs NBSD's -2.63%.

Which ETF is better, NBCM or NBSD?

On 1-year performance, NBCM leads with 39.66% vs 3.72% for NBSD. On fees, NBSD is cheaper at 0.35% per year. On volatility, NBSD has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBCM or NBSD?

Over the 1-year period, NBCM has performed better with a 39.66% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCM or NBSD?

NBSD is cheaper with a 0.35% expense ratio, compared with 0.66% for NBCM.

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

NBCM has the higher dividend yield at 6.69%, compared with 4.75% for NBSD.

What is the main difference between NBCM and NBSD?

NBCM is categorized as Commodities, while NBSD is Short-Term Bond. Their fees differ too: 0.66% for NBCM and 0.35% for NBSD.

Which has better risk-adjusted returns?

NBSD currently has the higher Sharpe Ratio (2.98 vs 2.16), 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.