SOYB vs. NBCM

Last updated Jul 12, 2026

SOYB (Teucrium Soybean Fund) and NBCM (Neuberger Berman Commodity Strategy ETF) are both exchange-traded funds - SOYB is a Agricultural Commodities fund tracking the Teucrium Soybean Fund Benchmark, while NBCM is a Commodities fund actively managed by Neuberger Berman. SOYB is passively managed, while NBCM is actively managed. Over the past 3 years, SOYB returned -3.42%/yr vs 14.74%/yr for NBCM. At a 0.39 correlation, their price movements are largely independent. SOYB charges 1.88%/yr vs 0.66%/yr for NBCM.

Performance

SOYB vs. NBCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium Soybean Fund (SOYB) and Neuberger Berman Commodity Strategy ETF (NBCM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOYB achieves a 15.14% return, which is significantly lower than NBCM's 21.59% return.

SOYB

• 1D: 0.28%
• 1M: 4.35%
• 6M: 13.74%
• YTD: 15.14%
• 1Y: 17.29%
• 3Y*: -3.42%
• 5Y*: 2.09%
• 10Y*: 2.13%

NBCM

• 1D: -0.29%
• 1M: -1.75%
• 6M: 18.42%
• YTD: 21.59%
• 1Y: 31.14%
• 3Y*: 14.74%
• 5Y*: —
• 10Y*: —

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

SOYB vs. NBCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SOYB Teucrium Soybean Fund	15.14%	1.77%	-20.48%	-5.23%	7.10%
NBCM Neuberger Berman Commodity Strategy ETF	21.59%	17.45%	6.55%	-6.41%	5.39%

Correlation

The correlation between SOYB and NBCM is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 24, 2022	0.39

Return for Risk

SOYB vs. NBCM — Risk / Return Rank

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

SOYB

SOYB Risk / Return Rank: 46
SOYB Sharpe Ratio Rank: 47
SOYB Sortino Ratio Rank: 48
SOYB Omega Ratio Rank: 46
SOYB Calmar Ratio Rank: 48
SOYB Martin Ratio Rank: 40

NBCM

NBCM Risk / Return Rank: 63
NBCM Sharpe Ratio Rank: 71
NBCM Sortino Ratio Rank: 64
NBCM Omega Ratio Rank: 68
NBCM Calmar Ratio Rank: 56
NBCM Martin Ratio Rank: 55

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.

SOYB vs. NBCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium Soybean Fund (SOYB) and Neuberger Berman Commodity Strategy ETF (NBCM). 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.

	SOYB	NBCM	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.82	-0.52
Sortino ratio: Return per unit of downside risk	1.96	2.37	-0.41
Omega ratio: Gain probability vs. loss probability	1.24	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.92	2.20	-0.28
Martin ratio: Return relative to average drawdown	5.02	7.47	-2.45

SOYB vs. NBCM - Sharpe Ratio Comparison

The current SOYB Sharpe Ratio is 1.31, which is comparable to the NBCM Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of SOYB and NBCM, 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

SOYB vs. NBCM - Drawdown Comparison

The maximum SOYB drawdown since its inception was -53.76%, which is greater than NBCM's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for SOYB and NBCM.

Drawdown Indicators

	SOYB	NBCM	Difference
Max Drawdown Largest peak-to-trough decline	-53.76%	-14.78%	-38.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-14.78%	+6.00%
Max Drawdown (3Y) Largest decline over 3 years	-31.01%	-14.78%	-16.23%
Max Drawdown (5Y) Largest decline over 5 years	-31.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.93%	—	—
Current Drawdown Current decline from peak	-14.12%	-10.56%	-3.56%
Average Drawdown Average peak-to-trough decline	-25.69%	-4.35%	-21.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	4.35%	-0.99%

Volatility

SOYB vs. NBCM - Volatility Comparison

Teucrium Soybean Fund (SOYB) and Neuberger Berman Commodity Strategy ETF (NBCM) have volatilities of 4.42% and 4.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOYB	NBCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.62%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	15.35%	-5.88%
Volatility (1Y) Calculated over the trailing 1-year period	12.93%	17.89%	-4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	14.99%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	14.99%	+1.81%

SOYB vs. NBCM - Expense Ratio Comparison

SOYB has a 1.88% expense ratio, which is higher than NBCM's 0.66% expense ratio.

Dividends

SOYB vs. NBCM - Dividend Comparison

SOYB has not paid dividends to shareholders, while NBCM's dividend yield for the trailing twelve months is around 6.95%.

Position	TTM	2025	2024	2023	2022
NBCM Neuberger Berman Commodity Strategy ETF	6.95%	8.46%	5.22%	4.37%	0.80%
SOYB Teucrium Soybean Fund	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOYB and NBCM in my portfolio?

SOYB and NBCM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOYB or NBCM?

NBCM has higher volatility (4.62%) compared to SOYB (4.42%). In terms of maximum drawdown, SOYB dropped -53.76% vs NBCM's -14.78%.

Which ETF is better, SOYB or NBCM?

On 3-year performance, NBCM leads with 14.74% vs -3.42% for SOYB. On fees, NBCM is cheaper at 0.66% per year. On volatility, SOYB has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOYB or NBCM?

Over the 3-year period, NBCM has performed better with a 14.74% return vs -3.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOYB or NBCM?

NBCM is cheaper with a 0.66% expense ratio, compared with 1.88% for SOYB.

Which ETF pays a higher dividend yield, SOYB or NBCM?

NBCM has the higher dividend yield at 6.95%, compared with 0.00% for SOYB.

What is the main difference between SOYB and NBCM?

SOYB is categorized as Agricultural Commodities, while NBCM is Commodities. They also come from different issuers: Teucrium and Neuberger Berman. Their fees differ too: 1.88% for SOYB and 0.66% for NBCM.

Which has better risk-adjusted returns?

NBCM currently has the higher Sharpe Ratio (1.82 vs 1.31), 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.