NBET vs. NBCE

Last updated Jun 24, 2026

NBET (Neuberger Berman Energy Transition & Infrastructure ETF) and NBCE (Neuberger Berman China Equity ETF) are both exchange-traded funds - NBET is a Energy 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, NBET returned 23.09% vs 68.17% for NBCE. At a 0.12 correlation, their price movements are largely independent. NBET charges 0.65%/yr vs 0.74%/yr for NBCE.

Performance

NBET vs. NBCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Energy Transition & Infrastructure ETF (NBET) 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, NBET achieves a 20.80% return, which is significantly lower than NBCE's 32.09% return.

NBET

• 1D: 0.19%
• 1M: -5.87%
• YTD: 20.80%
• 6M: 20.90%
• 1Y: 23.09%
• 3Y*: 19.86%
• 5Y*: —
• 10Y*: —

NBCE

• 1D: -3.12%
• 1M: 7.62%
• YTD: 32.09%
• 6M: 32.92%
• 1Y: 68.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBET vs. NBCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBET Neuberger Berman Energy Transition & Infrastructure ETF	20.80%	5.87%	30.30%	13.70%
NBCE Neuberger Berman China Equity ETF	32.09%	39.08%	3.35%	-2.22%

Correlation

The correlation between NBET and NBCE 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 Oct 16, 2023	0.12

The correlation between NBET and NBCE shifts across timeframes, from -0.03 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

NBET vs. NBCE - Sectors Allocation Comparison

Sectors	NBET	NBCE
Energy	88.7%	3.7%
Utilities	9.0%	1.6%
Industrials	2.3%	17.7%
Basic Materials	0.9%	11.7%
Communication Services	-	0.9%
Consumer Cyclical	-	6.8%
Consumer Defensive	-	4.3%
Financial Services	-	14.0%
Healthcare	-	4.2%
Real Estate	-	1.5%
Technology	-	33.7%

Return for Risk

NBET vs. NBCE — Risk / Return Rank

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

NBET

NBET Risk / Return Rank: 51
NBET Sharpe Ratio Rank: 50
NBET Sortino Ratio Rank: 47
NBET Omega Ratio Rank: 44
NBET Calmar Ratio Rank: 64
NBET Martin Ratio Rank: 50

NBCE

NBCE Risk / Return Rank: 94
NBCE Sharpe Ratio Rank: 95
NBCE Sortino Ratio Rank: 93
NBCE Omega Ratio Rank: 92
NBCE Calmar Ratio Rank: 95
NBCE Martin Ratio Rank: 94

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.

NBET vs. NBCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) 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.

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.

	NBET	NBCE	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.36	-1.77
Sortino ratio: Return per unit of downside risk	2.15	4.21	-2.06
Omega ratio: Gain probability vs. loss probability	1.26	1.58	-0.32
Calmar ratio: Return relative to maximum drawdown	2.90	7.43	-4.53
Martin ratio: Return relative to average drawdown	7.90	24.33	-16.44

NBET vs. NBCE - Sharpe Ratio Comparison

The current NBET Sharpe Ratio is 1.59, which is lower than the NBCE Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of NBET 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.

Drawdowns

NBET vs. NBCE - Drawdown Comparison

The maximum NBET drawdown since its inception was -18.72%, smaller than the maximum NBCE drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for NBET and NBCE.

Drawdown Indicators

	NBET	NBCE	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-28.42%	+9.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-9.23%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	—	—
Current Drawdown Current decline from peak	-6.98%	-3.12%	-3.86%
Average Drawdown Average peak-to-trough decline	-5.07%	-8.98%	+3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.81%	+0.12%

Volatility

NBET vs. NBCE - Volatility Comparison

The current volatility for Neuberger Berman Energy Transition & Infrastructure ETF (NBET) is 4.77%, while Neuberger Berman China Equity ETF (NBCE) has a volatility of 9.69%. This indicates that NBET experiences smaller price fluctuations and is considered to be less risky than NBCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBET	NBCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	9.69%	-4.92%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	15.74%	-4.74%
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	20.40%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	24.39%	-4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	24.39%	-4.91%

NBET vs. NBCE - Expense Ratio Comparison

NBET has a 0.65% expense ratio, which is lower than NBCE's 0.74% expense ratio.

Dividends

NBET vs. NBCE - Dividend Comparison

NBET's dividend yield for the trailing twelve months is around 1.71%, more than NBCE's 1.00% yield.

Position	TTM	2025	2024	2023	2022
NBCE Neuberger Berman China Equity ETF	1.00%	1.32%	1.20%	0.00%	0.00%
NBET Neuberger Berman Energy Transition & Infrastructure ETF	1.71%	2.70%	2.43%	1.22%	0.87%

Frequently Asked Questions

Can I hold both NBET and NBCE in my portfolio?

NBET and NBCE 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, NBET or NBCE?

NBCE has higher volatility (9.69%) compared to NBET (4.77%). In terms of maximum drawdown, NBET dropped -18.72% vs NBCE's -28.42%.

Which ETF is better, NBET or NBCE?

On 1-year performance, NBCE leads with 68.17% vs 23.09% for NBET. On fees, NBET is cheaper at 0.65% per year. On volatility, NBET has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBET or NBCE?

Over the 1-year period, NBCE has performed better with a 68.17% return vs 23.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBET or NBCE?

NBET is cheaper with a 0.65% expense ratio, compared with 0.74% for NBCE.

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

NBET has the higher dividend yield at 1.71%, compared with 1.00% for NBCE.

What is the main difference between NBET and NBCE?

NBET is categorized as Energy Equities, while NBCE is China Equities. Their fees differ too: 0.65% for NBET and 0.74% for NBCE.

Which has better risk-adjusted returns?

NBCE currently has the higher Sharpe Ratio (3.36 vs 1.59), 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.