Which returned more over the last year, CMDT or NBCM?

In the year to Oct 9, 2026, with distributions reinvested, CMDT returned +31.6% and NBCM +43.3%.

Which is cheaper, CMDT or NBCM?

Neither: CMDT and NBCM both charge 0.65% a year. Fees come from each fund's prospectus.

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CMDT vs NBCM: how they differ

CMDT and NBCM hold 7% of their weight in the same names, and NBCM returned +43.3% over the year. PIMCO Commodity Strategy Active Exchange-Traded Fund and Neuberger Commodity Strategy ETF.

Both cost 0.65% a year; their one-year returns differ by 11.7 points; CMDT is 1.8 times larger.

	CMDT	NBCM
Expense ratio	0.65%	0.65%
Net assets, CMDT as of Jun 30, 2026 and NBCM as of May 31, 2026	$751m	$425m
Total return, 1 year	+31.6%	+43.3%
Holdings in common	7%

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.

+31.6%

CMDT total return, 1 year

+43.3%

NBCM total return, 1 year

0.65%

CMDT expense ratio

0.65%

NBCM expense ratio

What they hold in common

By the books each fund has filed, CMDT and NBCM hold 7% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Jun 30, 2026.

50%

half

7% in common

Positions both hold, largest shared weight first

Holding CMDT NBCM

WELLS FARGO & COMPANY 0.94% 1.09%

GOLDMAN SACHS GROUP INC 0.89% 0.95%

JPMORGAN CHASE & CO 0.82% 1.54%

BANK OF AMERICA CORP 0.75% 1.40%

CITIGROUP INC 0.52% 1.11%

ENBRIDGE INC 0.43% 0.62%

ATHENE GLOBAL FUNDING 0.40% 0.36%

Hyundai Auto Lease Securitization Trust 0.27% 0.56%

Stellantis Financial Underwritten Enhanced Lease Trust 0.25% 0.46%

ORACLE CORP 0.53% 0.25%

CarMax Auto Owner Trust 0.37% 0.23%

COREBRIDGE GLOB FUNDING 0.18% 0.52%

Only in CMDT

PIMCO Enhanced Short Maturity Active Exchange-Traded Fund 5.91%

ROGERS COMMUNICATIONS IN 1.45%

LETRA TESOURO NACIONAL 1.43%

BANK OF MONTREAL 1.37%

TRANSCANADA PIPELINES 1.15%

ROYAL BANK OF CANADA 1.03%

Fannie Mae 0.94%

Government National Mortgage Association 0.93%

Only in NBCM

US BANK NA CINCINNATI 1.92%

MORGAN STANLEY BANK NA 1.68%

MERCK & CO INC 1.59%

BANK OF NY MELLON CORP 1.37%

ENTERPRISE PRODUCTS OPER 1.22%

ABBOTT LABORATORIES 1.20%

VIRGINIA ELEC & POWER CO 1.18%

TRUIST BANK 1.15%

On the same fields

CMDT

PIMCO Commodity Strategy Active Exchange-Traded Fund

NBCM

Neuberger Commodity Strategy ETF

Where it sits Commodity ETF Commodity ETF

Issuer PIMCO Neuberger Berman

What it is Actively managed Actively managed

Total return, 1 year +31.6% +43.3%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 +14.4 pts +26.1 pts

Expense ratio 0.65% 0.65%

Holdings 259 149

Net assets, CMDT as of Jun 30, 2026 and NBCM as of May 31, 2026 $751m $425m

CMDT and NBCM on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

CMDT in plain words

CMDT is actively managed and tracks no index. The prospectus expense ratio is 0.65% a year.

Over the year to Oct 9, 2026 it returned +31.6% with distributions reinvested, against +40.2% for its benchmark, the Bloomberg Commodity Index Total Return.

NBCM in plain words

NBCM is actively managed and tracks no index.

Over the year to Oct 9, 2026 it returned +43.3% with distributions reinvested, against +40.2% for its benchmark, the Bloomberg Commodity Index.

Questions people ask

Which returned more over the last year, CMDT or NBCM?: In the year to Oct 9, 2026, with distributions reinvested, CMDT returned +31.6% and NBCM +43.3%.
Which is cheaper, CMDT or NBCM?: Neither: CMDT and NBCM both charge 0.65% a year. Fees come from each fund's prospectus.

Other comparisons

CMDT vs PIT CMDT vs FAAR CMDT vs COMB CMDT vs HGER NBCM vs SDCI NBCM vs PIT FAAR vs NBCM COMB vs NBCM

CMDT on its own →NBCM on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

CMDT filings on SEC EDGAR ↗CMDT prospectus with the expense ratio (SEC) ↗PIMCO website ↗NBCM filings on SEC EDGAR ↗NBCM prospectus with the expense ratio (SEC) ↗Neuberger Berman website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Cite this page

ETFIQ, CMDT against NBCM, data as of Oct 9, 2026. https://etfiq.com/compare/any/cmdt-vs-nbcm

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.