NUBF.TO vs. NSCE.TO

Last updated Apr 1, 2026

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

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

Performance

NUBF.TO vs. NSCE.TO - Performance Comparison

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

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

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

Returns By Period

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

NUBF.TO

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

NSCE.TO

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

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

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

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

NUBF.TO

NBI Unconstrained Fixed Income ETF

NSCE.TO

NBI Sustainable Canadian Equity ETF

Return for Risk

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

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

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

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

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.

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

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

	NUBF.TO	NSCE.TO	Difference
Sharpe ratio Return per unit of total volatility	0.71	0.07	+0.64
Sortino ratio Return per unit of downside risk	1.06	0.18	+0.88
Omega ratio Gain probability vs. loss probability	1.14	1.02	+0.11
Calmar ratio Return relative to maximum drawdown	0.89	0.14	+0.75
Martin ratio Return relative to average drawdown	3.77	0.35	+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.

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

The current NUBF.TO Sharpe Ratio is 0.71, which is higher than the NSCE.TO Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of NUBF.TO and NSCE.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

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

Correlation

The correlation between NUBF.TO and NSCE.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

NUBF.TO vs. NSCE.TO - Dividend Comparison

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

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

Drawdowns

NUBF.TO vs. NSCE.TO - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

NUBF.TO vs. NSCE.TO - Volatility Comparison

The current volatility for NBI Unconstrained Fixed Income ETF (NUBF.TO) is 3.01%, while NBI Sustainable Canadian Equity ETF (NSCE.TO) has a volatility of 3.80%. This indicates that NUBF.TO experiences smaller price fluctuations and is considered to be less risky than NSCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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