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Launched

Neuberger Berman Commodity Strategy ETF

NBCMNYSE ArcaNeuberger BermanC

$30.43−0.72 (−2.31%)

At close: Nov 2, 2026, 4:00 PM ET

C47/ 100

Rank 13 of 23 in Broad Commodity Futures

C47/100Rank 13 of 23inBroad Commodity Futures
Intraday session: down, 79 prints from 31.15 to 30.43. Range 30.31 to 30.66. Use the arrow keys to read each point.30.6030.8031.0010 AM12 PM2 PM4 PM
Expense ratio
0.76%
Fund size
$577M
1Y total return
+40.8%
Yield · Last 12 months
6.14%
Holdings
205
Avg volume · 30D
89.5K sh
52W range
low $22.13high $32.52
Launched

The ETF.net NBCM Grade

Based on 5 of 6 pillars

C

Score 47 out of 100

Category
Broad Commodity Futures⁠
Rank
13 of 23
Six-pillar profile for NBCM. Scores out of 100: Cost 32, Risk 61, Mission not scored, Tradability 47, Holdings 81, Durability 42. Strongest: Holdings (81). Weakest: Cost (32). Based on 5 of 6 pillars.

Score 47 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D32 out of 100
    Rank 15 of 23

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B61 out of 100
    Rank 10 of 23

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C47 out of 100
    Rank 16 of 23

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A81 out of 100
    Rank 3 of 15

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C42 out of 100
    Rank 17 of 23

Our read on NBCM

ETF.net Research

In short

CMost broad commodity funds just track an index and rebalance on schedule. NBCM runs quantitative models to shift weights across commodity sectors, backed by a fixed-income collateral sleeve. Active management in a mostly passive aisle.

Stated mandate

The Fund seeks commodity exposure through commodity-linked derivatives and fixed-income instruments. It uses quantitative models to identify opportunities and set portfolio weights across multiple commodity sectors.

Why people hold it

  • Actively managed, not index-tethered: quantitative models set the weights across commodity sectors instead of locking in a benchmark's fixed recipe.
  • Two working parts: commodity-linked derivatives for the exposure, fixed-income instruments backing them, so the collateral behind the futures isn't sitting idle.
  • Spread across multiple commodity sectors, energy to metals to ags, rather than riding one barrel or one bar of gold.
  • Sits in the upper half of the broad commodity futures group on our review, with portfolio construction the strongest part of the build.

Worth knowing

  • At 0.76% a year, it costs more than the index workhorses it competes with: BCI runs 0.26%, CMDY 0.29%. That gap is what the quant model has to cover.
  • Structured as a commodity pool, so the tax paperwork and regulatory treatment differ from a plain stock ETF. Worth a look before it hits your return.
  • Launched in 2022 and only moderately traded, so the live record is short and spreads can run wider than at the category's giants. Limit orders help.

NBCM Holdings

Holdings pillarA81 out of 100Rank 3 of 15 in Broad Commodity Futures
Asset class
Other
Holdings
205
Top-10 weight
43%
Largest holding
Ssc Government Mm Gvmxx8.4%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataSsc Government Mm Gvmxx8.45%0$109M8
2No dataNb Cayman Commodity Fund I Ltd Mutual Fund7.77%0$101M1
3No dataGold 100 Oz Futr FEB27 Xcec 202702245.49%175$71.1M1
4No dataBrent Crude Futr MAR27 Ifeu 202701294.14%516$53.7M1
5No dataWti Crude Future JAN27 Xnym 202612214.05%524$52.5M1
6No dataCopper Future MAY27 Xcec 202705262.96%226$38.3M1
7No dataLow Su Gasoil G JAN27 Ifeu 202701122.85%277$36.9M1
8No dataTreasury Bill 11/26 0.000002.70%0$35M16
9No dataUs Dollar2.59%0$33.5M228
10No dataSoybean Future MAR27 Xcbt 202703122.40%501$31.1M1
11No dataNatural Gas Futr MAR27 Xnym 202702242.36%1,251$30.6M1
12No dataTreasury Bill 01/27 0.000002.30%0$29.8M30
13No dataNy Harb Ulsd Fut JAN27 Xnym 202612312.13%146$27.6M1
14No dataSugar 11 (World) MAR27 Ifus 202702261.88%1,114$24.3M1
15No dataGasoline Rbob Fut MAR27 Xnym 202702261.75%180$22.7M1

Showing 1–15 of 205 holdings

NBCM Performance

Launched Oct 24, 2022

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
NBCM$14,079
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. NBCM $14,079. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NBCM. Periods over one year show the average yearly return.
PeriodNBCM
Year to date+37.7%
1 month+0.7%
3 months+8.9%
1 year+40.8%
3 yearsper year+18.3%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NBCM
YearReturn barNBCM
2026 YTD+37.7%
2025+17.3%
2024+6.6%
2023−6.4%
2022+5.2%

Since listing, Oct 24, 2022

NBCM in the news

NBCM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
6.14%Last 12 months
Payout per share
$1.91Last 12 months
Last payment
$1.91 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 16, 2022 $0.18; Dec 19, 2023 $0.90; Dec 18, 2024 $1.09; Dec 19, 2025 $1.91. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 19, 2025Dec 24, 2025$1.91
Dec 18, 2024Dec 23, 2024$1.09
Dec 19, 2023Dec 22, 2023$0.90
Dec 16, 2022Dec 20, 2022$0.18

$10,000 in NBCM 3 years ago paid $1,729 in dividends.

NBCM Risk

Risk pillarB61 out of 100Rank 10 of 23 in Broad Commodity Futures
How much the fund’s monthly returns vary, scaled to a year.
13.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.99
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−14.8%
48 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.93
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

NBCM Cost

Compare NBCM and SDMF

Overpaying vs SDMF, cheapest in Broad Commodity Futures

$10,299

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NBCM 0.76%

    $14,656

  • SDMF 0.21% Cheapest

    $4,357

$10,000
30 years

Cost over time

  • NBCM 0.76%
  • SDMF 0.21%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NBCM $14,656SDMF $4,357

Year by year

YearNBCMSDMFOverpaying
10$1,353$383$970
20$5,142$1,491$3,651
30$14,656$4,357$10,299

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