NBDS vs. NBCE

Last updated Jun 4, 2026

NBDS (Neuberger Berman Disrupters ETF) and NBCE (Neuberger Berman China Equity ETF) are both exchange-traded funds - NBDS is a Technology Equities fund actively managed by Neuberger Berman, while NBCE is a China Equities fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBDS returned 33.80% vs 62.13% for NBCE. At a 0.25 correlation, their price movements are largely independent. NBDS charges 0.55%/yr vs 0.74%/yr for NBCE.

Performance

NBDS vs. NBCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Disrupters ETF (NBDS) and Neuberger Berman China Equity ETF (NBCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBDS achieves a 17.73% return, which is significantly lower than NBCE's 25.89% return.

NBDS

• 1D: -0.69%
• 1M: 16.39%
• YTD: 17.73%
• 6M: 15.50%
• 1Y: 33.80%
• 3Y*: 23.07%
• 5Y*: —
• 10Y*: —

NBCE

• 1D: 0.49%
• 1M: 8.36%
• YTD: 25.89%
• 6M: 30.43%
• 1Y: 62.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBDS vs. NBCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBDS Neuberger Berman Disrupters ETF	17.73%	19.58%	17.97%	13.85%
NBCE Neuberger Berman China Equity ETF	25.89%	39.08%	3.35%	-2.22%

Correlation

The correlation between NBDS and NBCE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 17, 2023	0.25

The correlation between NBDS and NBCE shifts across timeframes, from 0.25 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

NBDS vs. NBCE - Sectors Allocation Comparison

Sectors	NBDS	NBCE
Technology	65.4%	28.7%
Healthcare	9.1%	4.6%
Consumer Cyclical	6.5%	7.9%
Industrials	5.8%	17.3%
Financial Services	5.7%	15.2%
Communication Services	4.4%	1.2%
Utilities	3.1%	1.7%
Basic Materials	-	13.7%
Consumer Defensive	-	5.5%
Energy	-	3.5%
Real Estate	-	0.9%

Return for Risk

NBDS vs. NBCE — Risk / Return Rank

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

NBDS

NBDS Risk / Return Rank: 34
NBDS Sharpe Ratio Rank: 39
NBDS Sortino Ratio Rank: 36
NBDS Omega Ratio Rank: 38
NBDS Calmar Ratio Rank: 29
NBDS Martin Ratio Rank: 27

NBCE

NBCE Risk / Return Rank: 92
NBCE Sharpe Ratio Rank: 92
NBCE Sortino Ratio Rank: 91
NBCE Omega Ratio Rank: 90
NBCE Calmar Ratio Rank: 93
NBCE Martin Ratio Rank: 92

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.

NBDS vs. NBCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Disrupters ETF (NBDS) and Neuberger Berman China Equity ETF (NBCE). 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.

	NBDS	NBCE	Difference
Sharpe ratio: Return per unit of total volatility	1.38	3.36	-1.98
Sortino ratio: Return per unit of downside risk	1.90	4.29	-2.39
Omega ratio: Gain probability vs. loss probability	1.24	1.58	-0.34
Calmar ratio: Return relative to maximum drawdown	1.42	6.77	-5.35
Martin ratio: Return relative to average drawdown	3.71	22.69	-18.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBDS vs. NBCE - Sharpe Ratio Comparison

The current NBDS Sharpe Ratio is 1.38, which is lower than the NBCE Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of NBDS and NBCE, 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

	NBDS	NBCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	3.36	-1.98
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.02	-0.50

Drawdowns

NBDS vs. NBCE - Drawdown Comparison

The maximum NBDS drawdown since its inception was -29.81%, roughly equal to the maximum NBCE drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for NBDS and NBCE.

Drawdown Indicators

	NBDS	NBCE	Difference
Max Drawdown Largest peak-to-trough decline	-29.81%	-28.42%	-1.39%
Max Drawdown (1Y) Largest decline over 1 year	-23.96%	-9.23%	-14.73%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	—	—
Current Drawdown Current decline from peak	-0.69%	-0.48%	-0.21%
Average Drawdown Average peak-to-trough decline	-9.52%	-9.13%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.13%	2.75%	+6.38%

Volatility

NBDS vs. NBCE - Volatility Comparison

Neuberger Berman Disrupters ETF (NBDS) has a higher volatility of 8.88% compared to Neuberger Berman China Equity ETF (NBCE) at 7.20%. This indicates that NBDS's price experiences larger fluctuations and is considered to be riskier than NBCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBDS	NBCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.88%	7.20%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	19.41%	13.42%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	24.54%	18.59%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.64%	24.04%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	24.04%	+3.60%

NBDS vs. NBCE - Expense Ratio Comparison

NBDS has a 0.55% expense ratio, which is lower than NBCE's 0.74% expense ratio.

Dividends

NBDS vs. NBCE - Dividend Comparison

NBDS's dividend yield for the trailing twelve months is around 0.32%, less than NBCE's 1.05% yield.

Position	TTM	2025	2024
NBCE Neuberger Berman China Equity ETF	1.05%	1.32%	1.20%
NBDS Neuberger Berman Disrupters ETF	0.32%	0.38%	0.00%

Frequently Asked Questions

Can I hold both NBDS and NBCE in my portfolio?

NBDS and NBCE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBDS or NBCE?

NBDS has higher volatility (8.88%) compared to NBCE (7.20%). In terms of maximum drawdown, NBDS dropped -29.81% vs NBCE's -28.42%.

Which ETF is better, NBDS or NBCE?

On 1-year performance, NBCE leads with 62.13% vs 33.80% for NBDS. On fees, NBDS is cheaper at 0.55% per year. On volatility, NBCE has been the lower-risk option at 7.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBDS or NBCE?

Over the 1-year period, NBCE has performed better with a 62.13% return vs 33.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBDS or NBCE?

NBDS is cheaper with a 0.55% expense ratio, compared with 0.74% for NBCE.

Which ETF pays a higher dividend yield, NBDS or NBCE?

NBCE has the higher dividend yield at 1.05%, compared with 0.32% for NBDS.

What is the main difference between NBDS and NBCE?

NBDS is categorized as Technology Equities, while NBCE is China Equities. Their fees differ too: 0.55% for NBDS and 0.74% for NBCE.

Which has better risk-adjusted returns?

NBCE currently has the higher Sharpe Ratio (3.36 vs 1.38), 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.