NBJP vs. DCMT

Last updated Aug 5, 2026

NBJP (Neuberger Berman Japan Equity ETF) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - NBJP is a Japan Equities fund actively managed by Neuberger Berman, while DCMT is a Commodities fund actively managed by DoubleLine. Both are actively managed. Over the past year, NBJP returned 29.30% vs 29.63% for DCMT. Their -0.07 correlation means they have often moved in opposite directions in the past. NBJP charges 0.50%/yr vs 0.66%/yr for DCMT.

Performance

NBJP vs. DCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Japan Equity ETF (NBJP) 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, NBJP achieves a 17.33% return, which is significantly lower than DCMT's 24.74% return.

NBJP

• 1D: 2.63%
• 1M: -2.09%
• 6M: 8.66%
• YTD: 17.33%
• 1Y: 29.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.44%

DCMT

• 1D: -1.11%
• 1M: 6.02%
• 6M: 16.61%
• YTD: 24.74%
• 1Y: 29.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.42%

*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)
DCMT DoubleLine Commodity Strategy ETF	$307.72K	$268.91K	$199.57K
NBJP Neuberger Berman Japan Equity ETF	$895.11K	$554.78K	$656.70K

NBJP vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBJP Neuberger Berman Japan Equity ETF	17.33%	30.41%	-2.65%
DCMT DoubleLine Commodity Strategy ETF	24.74%	6.04%	8.41%

Correlation

The correlation between NBJP and DCMT is -0.17, 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.	-0.17
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	-0.07

Return for Risk

NBJP vs. DCMT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBJP

NBJP Risk / Return Rank: 48
NBJP Sharpe Ratio Rank: 47
NBJP Sortino Ratio Rank: 45
NBJP Omega Ratio Rank: 46
NBJP Calmar Ratio Rank: 50
NBJP Martin Ratio Rank: 48

DCMT

DCMT Risk / Return Rank: 52
DCMT Sharpe Ratio Rank: 57
DCMT Sortino Ratio Rank: 55
DCMT Omega Ratio Rank: 53
DCMT Calmar Ratio Rank: 46
DCMT Martin Ratio Rank: 48

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.

NBJP vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Japan Equity ETF (NBJP) 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.

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.

	NBJP	DCMT	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.56	-0.23
Sortino ratio: Return per unit of downside risk	1.90	2.16	-0.26
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio: Return relative to maximum drawdown	2.05	1.86	+0.19
Martin ratio: Return relative to average drawdown	6.22	6.16	+0.06

NBJP vs. DCMT - Sharpe Ratio Comparison

The current NBJP Sharpe Ratio is 1.33, which is comparable to the DCMT Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of NBJP 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.

Drawdowns

NBJP vs. DCMT - Drawdown Comparison

The maximum NBJP drawdown since its inception was -14.34%, smaller than the maximum DCMT drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for NBJP and DCMT.

Drawdown Indicators

	NBJP	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-15.96%	+1.62%
Max Drawdown (1Y) Largest decline over 1 year	-14.34%	-15.96%	+1.62%
Current Drawdown Current decline from peak	-6.94%	-10.46%	+3.52%
Average Drawdown Average peak-to-trough decline	-3.43%	-3.63%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.72%	4.82%	-0.10%

Volatility

NBJP vs. DCMT - Volatility Comparison

Neuberger Berman Japan Equity ETF (NBJP) has a higher volatility of 8.45% compared to DoubleLine Commodity Strategy ETF (DCMT) at 5.57%. This indicates that NBJP's price experiences larger fluctuations and is considered to be riskier than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBJP	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.45%	5.57%	+2.88%
Volatility (6M) Calculated over the trailing 6-month period	19.61%	16.66%	+2.95%
Volatility (1Y) Calculated over the trailing 1-year period	22.19%	19.04%	+3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	16.06%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.60%	16.06%	+4.54%

NBJP vs. DCMT - Expense Ratio Comparison

NBJP has a 0.50% expense ratio, which is lower than DCMT's 0.66% expense ratio.

Dividends

NBJP vs. DCMT - Dividend Comparison

NBJP's dividend yield for the trailing twelve months is around 1.95%, less than DCMT's 2.94% yield.

Position	TTM	2025	2024
DCMT DoubleLine Commodity Strategy ETF	2.94%	3.67%	1.59%
NBJP Neuberger Berman Japan Equity ETF	1.95%	2.29%	0.75%

Frequently Asked Questions

Can I hold both NBJP and DCMT in my portfolio?

NBJP and DCMT have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBJP or DCMT?

NBJP has higher volatility (8.45%) compared to DCMT (5.57%). In terms of maximum drawdown, NBJP dropped -14.34% vs DCMT's -15.96%.

Which ETF is better, NBJP or DCMT?

On 1-year performance, DCMT leads with 29.63% vs 29.30% for NBJP. On fees, NBJP is cheaper at 0.50% per year. On volatility, DCMT has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBJP or DCMT?

Over the 1-year period, DCMT has performed better with a 29.63% return vs 29.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBJP or DCMT?

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

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

DCMT has the higher dividend yield at 2.94%, compared with 1.95% for NBJP.

What is the main difference between NBJP and DCMT?

NBJP is categorized as Japan Equities, while DCMT is Commodities. They also come from different issuers: Neuberger Berman and DoubleLine. Their fees differ too: 0.50% for NBJP and 0.66% for DCMT.

Which has better risk-adjusted returns?

DCMT currently has the higher Sharpe Ratio (1.56 vs 1.33), 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.