NBCM vs SPY
NBCM vs SPY
Neuberger Berman Commodity Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. NBCM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | NBCM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $455M | $789.1B | |
| Dividend Yield | 7.25% | 1.01% | |
| Holdings | 208 | 505 | |
| YTD Return | +26.29% | +9.93% | |
| 1Y Return | +38.83% | +19.50% | |
| 3Y Return (annualized) | +14.55% | +19.33% | |
| 5Y Return (annualized) | - | +12.82% | |
| Volatility (annualized) | 13.4% | 15.3% | |
| Max Drawdown | -14.8% | -56.5% | |
| Fund Family | Neuberger Berman | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Oct 24, 2022 | Jan 22, 1993 |
NBCM vs SPY Performance
Neuberger Berman Commodity Strategy ETF (NBCM) is a ETF from Neuberger Berman and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NBCM returned +38.83% while SPY returned +19.50%. Year to date, NBCM is up 26.29% versus a gain of 9.93% for SPY.
Over three years, NBCM compounded at +14.55% per year against +19.33% for SPY. Across the full 4-year window we track, NBCM has the edge at +12.50% annualized vs +8.74%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.4% for NBCM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.8% for NBCM and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NBCM charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, NBCM currently yields 7.25% against 1.01% for SPY.
Holdings Overlap
NBCM and SPY share 0 holdings out of 590 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NBCM or SPY?
NBCM has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, NBCM or SPY?
Over the past year NBCM returned +38.83% vs +19.50% for SPY, so NBCM leads on 1-year performance. Over the longest common window we track (4 years), NBCM annualized +12.50% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, NBCM or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.4% for NBCM. Worst drawdown: NBCM -14.8% vs SPY -56.5%.
Should I hold both NBCM and SPY?
NBCM and SPY have a monthly-return correlation of 0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NBCM and SPY?
NBCM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 590 unique securities.
Which pays a higher dividend, NBCM or SPY?
NBCM yields 7.25% while SPY yields 1.01%, so NBCM currently pays the higher dividend yield.
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