NBFC vs. DCMT

Last updated Jun 4, 2026

NBFC (Flexible Credit Income ETF) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - NBFC is a Multisector Bonds fund actively managed by Neuberger, while DCMT is a Commodities fund actively managed by DoubleLine. Both are actively managed. Over the past year, NBFC returned 8.01% vs 42.19% for DCMT. At a correlation of -0.10, they often move in opposite directions. NBFC charges 0.40%/yr vs 0.66%/yr for DCMT.

Performance

NBFC vs. DCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Flexible Credit Income ETF (NBFC) and DoubleLine Commodity Strategy ETF (DCMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBFC achieves a 1.32% return, which is significantly lower than DCMT's 34.49% return.

NBFC

• 1D: -0.25%
• 1M: 0.74%
• YTD: 1.32%
• 6M: 1.68%
• 1Y: 8.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DCMT

• 1D: 0.63%
• 1M: -2.89%
• YTD: 34.49%
• 6M: 33.53%
• 1Y: 42.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBFC vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBFC Flexible Credit Income ETF	1.32%	9.63%	4.58%
DCMT DoubleLine Commodity Strategy ETF	34.49%	6.04%	0.91%

Correlation

The correlation between NBFC and DCMT is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.28
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	-0.10

The correlation between NBFC and DCMT shifts across timeframes, from -0.28 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NBFC vs. DCMT — Risk / Return Rank

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

NBFC

NBFC Risk / Return Rank: 75
NBFC Sharpe Ratio Rank: 78
NBFC Sortino Ratio Rank: 87
NBFC Omega Ratio Rank: 85
NBFC Calmar Ratio Rank: 60
NBFC Martin Ratio Rank: 68

DCMT

DCMT Risk / Return Rank: 76
DCMT Sharpe Ratio Rank: 71
DCMT Sortino Ratio Rank: 66
DCMT Omega Ratio Rank: 69
DCMT Calmar Ratio Rank: 93
DCMT Martin Ratio Rank: 82

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.

NBFC vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Flexible Credit Income ETF (NBFC) and DoubleLine Commodity Strategy ETF (DCMT). 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.

	NBFC	DCMT	Difference
Sharpe ratio Return per unit of total volatility	2.51	2.32	+0.19
Sortino ratio Return per unit of downside risk	3.89	3.01	+0.87
Omega ratio Gain probability vs. loss probability	1.51	1.41	+0.10
Calmar ratio Return relative to maximum drawdown	2.91	6.83	-3.92
Martin ratio Return relative to average drawdown	12.32	16.31	-3.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBFC vs. DCMT - Sharpe Ratio Comparison

The current NBFC Sharpe Ratio is 2.51, which is comparable to the DCMT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of NBFC and DCMT, 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

	NBFC	DCMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.32	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	1.20	+1.03

Drawdowns

NBFC vs. DCMT - Drawdown Comparison

The maximum NBFC drawdown since its inception was -3.99%, smaller than the maximum DCMT drawdown of -11.95%. Use the drawdown chart below to compare losses from any high point for NBFC and DCMT.

Drawdown Indicators

	NBFC	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-3.99%	-11.95%	+7.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-6.21%	+3.44%
Current Drawdown Current decline from peak	-0.25%	-3.46%	+3.21%
Average Drawdown Average peak-to-trough decline	-0.44%	-3.13%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	2.59%	-1.94%

Volatility

NBFC vs. DCMT - Volatility Comparison

The current volatility for Flexible Credit Income ETF (NBFC) is 1.05%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 6.71%. This indicates that NBFC experiences smaller price fluctuations and is considered to be less risky than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBFC	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	6.71%	-5.66%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	15.87%	-13.41%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	18.27%	-15.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.63%	15.77%	-12.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.63%	15.77%	-12.14%

NBFC vs. DCMT - Expense Ratio Comparison

NBFC has a 0.40% expense ratio, which is lower than DCMT's 0.66% expense ratio.

Dividends

NBFC vs. DCMT - Dividend Comparison

NBFC's dividend yield for the trailing twelve months is around 7.33%, more than DCMT's 2.73% yield.

Position	TTM	2025	2024
DCMT DoubleLine Commodity Strategy ETF	2.73%	3.67%	1.59%
NBFC Flexible Credit Income ETF	7.33%	7.71%	3.95%

Frequently Asked Questions

Can I hold both NBFC and DCMT in my portfolio?

NBFC and DCMT have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBFC or DCMT?

DCMT has higher volatility (6.71%) compared to NBFC (1.05%). In terms of maximum drawdown, NBFC dropped -3.99% vs DCMT's -11.95%.

Which ETF is better, NBFC or DCMT?

On 1-year performance, DCMT leads with 42.19% vs 8.01% for NBFC. On fees, NBFC is cheaper at 0.40% per year. On volatility, NBFC has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBFC or DCMT?

Over the 1-year period, DCMT has performed better with a 42.19% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBFC or DCMT?

NBFC is cheaper with a 0.40% expense ratio, compared with 0.66% for DCMT.

Which ETF pays a higher dividend yield, NBFC or DCMT?

NBFC has the higher dividend yield at 7.33%, compared with 2.73% for DCMT.

What is the main difference between NBFC and DCMT?

NBFC is categorized as Multisector Bonds, while DCMT is Commodities. They also come from different issuers: Neuberger and DoubleLine. Their fees differ too: 0.40% for NBFC and 0.66% for DCMT.

Which has better risk-adjusted returns?

NBFC currently has the higher Sharpe Ratio (2.51 vs 2.32), 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.