NSCE.TO vs. NUBF.TO

Last updated Apr 1, 2026

Compare and contrast key facts about NBI Sustainable Canadian Equity ETF (NSCE.TO) and NBI Unconstrained Fixed Income ETF (NUBF.TO).

NSCE.TO and NUBF.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NSCE.TO is an actively managed fund by National Bank Investments. It was launched on Jan 23, 2020. NUBF.TO is an actively managed fund by National Bank Investments. It was launched on Oct 18, 2019.

Performance

NSCE.TO vs. NUBF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in NBI Sustainable Canadian Equity ETF (NSCE.TO) and NBI Unconstrained Fixed Income ETF (NUBF.TO). The values are adjusted to include any dividend payments, if applicable.

NSCE.TO vs. NUBF.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NSCE.TO NBI Sustainable Canadian Equity ETF	-2.44%	7.84%	19.58%	13.59%	-0.97%	20.36%	2,308.77%
NUBF.TO NBI Unconstrained Fixed Income ETF	-1.28%	6.66%	1.49%	5.75%	-6.23%	0.36%	5.49%

Returns By Period

In the year-to-date period, NSCE.TO achieves a -2.44% return, which is significantly lower than NUBF.TO's -1.28% return.

NSCE.TO

• 1D: 0.28%
• 1M: -2.86%
• YTD: -2.44%
• 6M: -3.95%
• 1Y: 0.88%
• 3Y*: 10.65%
• 5Y*: 9.50%
• 10Y*: —

NUBF.TO

• 1D: 1.41%
• 1M: -3.32%
• YTD: -1.28%
• 6M: -1.13%
• 1Y: 4.26%
• 3Y*: 3.58%
• 5Y*: 1.19%
• 10Y*: —

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

NSCE.TO vs. NUBF.TO - Expense Ratio Comparison

NSCE.TO has a 0.64% expense ratio, which is lower than NUBF.TO's 0.78% expense ratio.

NUBF.TO

NBI Unconstrained Fixed Income ETF

NSCE.TO

NBI Sustainable Canadian Equity ETF

Return for Risk

NSCE.TO vs. NUBF.TO — Risk / Return Rank

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

NSCE.TO

NSCE.TO Risk / Return Rank: 13
NSCE.TO Sharpe Ratio Rank: 13
NSCE.TO Sortino Ratio Rank: 12
NSCE.TO Omega Ratio Rank: 12
NSCE.TO Calmar Ratio Rank: 15
NSCE.TO Martin Ratio Rank: 14

NUBF.TO

NUBF.TO Risk / Return Rank: 36
NUBF.TO Sharpe Ratio Rank: 37
NUBF.TO Sortino Ratio Rank: 35
NUBF.TO Omega Ratio Rank: 33
NUBF.TO Calmar Ratio Rank: 35
NUBF.TO Martin Ratio Rank: 40

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.

NSCE.TO vs. NUBF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NBI Sustainable Canadian Equity ETF (NSCE.TO) and NBI Unconstrained Fixed Income ETF (NUBF.TO). 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.

	NSCE.TO	NUBF.TO	Difference
Sharpe ratio Return per unit of total volatility	0.07	0.71	-0.64
Sortino ratio Return per unit of downside risk	0.18	1.06	-0.88
Omega ratio Gain probability vs. loss probability	1.02	1.14	-0.11
Calmar ratio Return relative to maximum drawdown	0.14	0.89	-0.75
Martin ratio Return relative to average drawdown	0.35	3.77	-3.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NSCE.TO vs. NUBF.TO - Sharpe Ratio Comparison

The current NSCE.TO Sharpe Ratio is 0.07, which is lower than the NUBF.TO Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of NSCE.TO and NUBF.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NSCE.TO	NUBF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.07	0.71	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.17	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.17	-0.07

Correlation

The correlation between NSCE.TO and NUBF.TO is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NSCE.TO vs. NUBF.TO - Dividend Comparison

NSCE.TO's dividend yield for the trailing twelve months is around 0.97%, less than NUBF.TO's 4.56% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
NSCE.TO NBI Sustainable Canadian Equity ETF	0.97%	0.89%	1.01%	1.15%	0.91%	1.05%	0.69%	0.00%
NUBF.TO NBI Unconstrained Fixed Income ETF	4.56%	4.45%	4.35%	3.99%	11.20%	4.23%	1.72%	0.55%

Drawdowns

NSCE.TO vs. NUBF.TO - Drawdown Comparison

The maximum NSCE.TO drawdown since its inception was -16.43%, roughly equal to the maximum NUBF.TO drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for NSCE.TO and NUBF.TO.

Drawdown Indicators

	NSCE.TO	NUBF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.43%	-16.37%	-0.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.52%	-4.66%	-4.86%
Max Drawdown (5Y) Largest decline over 5 years	-11.84%	-12.37%	+0.53%
Current Drawdown Current decline from peak	-7.54%	-3.32%	-4.22%
Average Drawdown Average peak-to-trough decline	-2.27%	-3.33%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	1.10%	+2.85%

Volatility

NSCE.TO vs. NUBF.TO - Volatility Comparison

NBI Sustainable Canadian Equity ETF (NSCE.TO) has a higher volatility of 3.80% compared to NBI Unconstrained Fixed Income ETF (NUBF.TO) at 3.01%. This indicates that NSCE.TO's price experiences larger fluctuations and is considered to be riskier than NUBF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NSCE.TO	NUBF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.01%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	8.75%	4.69%	+4.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	6.01%	+6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.51%	7.00%	+4.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	816.75%	11.47%	+805.28%