NBSM vs. ISCMF

Last updated Jun 25, 2026

NBSM (Neuberger Small-Mid Cap ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - NBSM is a Mid Cap Growth Equities fund actively managed by Neuberger Berman, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. NBSM is actively managed, while ISCMF is passively managed. Over the past year, NBSM returned 10.64% vs 31.30% for ISCMF. At a -0.00 correlation, their price movements are largely independent. NBSM charges 0.65%/yr vs 0.19%/yr for ISCMF.

Performance

NBSM vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Small-Mid Cap ETF (NBSM) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBSM achieves a 9.98% return, which is significantly lower than ISCMF's 22.87% return.

NBSM

• 1D: 1.46%
• 1M: 4.36%
• YTD: 9.98%
• 6M: 7.93%
• 1Y: 10.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -4.99%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 31.30%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

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

NBSM vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBSM Neuberger Small-Mid Cap ETF	9.98%	-0.04%	0.03%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.58%

Correlation

The correlation between NBSM and ISCMF is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	-0.00

Return for Risk

NBSM vs. ISCMF — Risk / Return Rank

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

NBSM

NBSM Risk / Return Rank: 23
NBSM Sharpe Ratio Rank: 21
NBSM Sortino Ratio Rank: 23
NBSM Omega Ratio Rank: 20
NBSM Calmar Ratio Rank: 24
NBSM Martin Ratio Rank: 26

ISCMF

ISCMF Risk / Return Rank: 81
ISCMF Sharpe Ratio Rank: 60
ISCMF Sortino Ratio Rank: 81
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 72

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.

NBSM vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Small-Mid Cap ETF (NBSM) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.

	NBSM	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.76	-1.06
Sortino ratio: Return per unit of downside risk	1.17	3.18	-2.01
Omega ratio: Gain probability vs. loss probability	1.13	2.31	-1.18
Calmar ratio: Return relative to maximum drawdown	1.06	5.53	-4.47
Martin ratio: Return relative to average drawdown	3.16	11.76	-8.60

NBSM vs. ISCMF - Sharpe Ratio Comparison

The current NBSM Sharpe Ratio is 0.71, which is lower than the ISCMF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of NBSM and ISCMF, 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

NBSM vs. ISCMF - Drawdown Comparison

The maximum NBSM drawdown since its inception was -25.16%, roughly equal to the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for NBSM and ISCMF.

Drawdown Indicators

	NBSM	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-25.16%	-25.42%	+0.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.12%	-5.69%	-4.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	-1.16%	-5.26%	+4.10%
Average Drawdown Average peak-to-trough decline	-7.32%	-13.34%	+6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	2.67%	+0.71%

Volatility

NBSM vs. ISCMF - Volatility Comparison

The current volatility for Neuberger Small-Mid Cap ETF (NBSM) is 4.49%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that NBSM experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBSM	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	5.11%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	11.04%	15.45%	-4.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	17.84%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	14.28%	+3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	14.28%	+3.78%

NBSM vs. ISCMF - Expense Ratio Comparison

NBSM has a 0.65% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

NBSM vs. ISCMF - Dividend Comparison

NBSM's dividend yield for the trailing twelve months is around 0.36%, while ISCMF has not paid dividends to shareholders.

Position	TTM	2025	2024
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%	0.00%
NBSM Neuberger Small-Mid Cap ETF	0.36%	0.40%	0.23%

Frequently Asked Questions

Can I hold both NBSM and ISCMF in my portfolio?

NBSM and ISCMF have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBSM or ISCMF?

ISCMF has higher volatility (5.11%) compared to NBSM (4.49%). In terms of maximum drawdown, NBSM dropped -25.16% vs ISCMF's -25.42%.

Which ETF is better, NBSM or ISCMF?

On 1-year performance, ISCMF leads with 31.30% vs 10.64% for NBSM. On fees, ISCMF is cheaper at 0.19% per year. On volatility, NBSM has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBSM or ISCMF?

Over the 1-year period, ISCMF has performed better with a 31.30% return vs 10.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBSM or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.65% for NBSM.

Which ETF pays a higher dividend yield, NBSM or ISCMF?

NBSM has the higher dividend yield at 0.36%, compared with 0.00% for ISCMF.

What is the main difference between NBSM and ISCMF?

NBSM is categorized as Mid Cap Growth Equities, while ISCMF is Commodities. They also come from different issuers: Neuberger Berman and iShares. Their fees differ too: 0.65% for NBSM and 0.19% for ISCMF.

Which has better risk-adjusted returns?

ISCMF currently has the higher Sharpe Ratio (1.76 vs 0.71), 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.