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NBCM vs USCI: Differences, Returns & Fees

NBCM is an actively managed commodity fund and USCI a commodity futures fund, and over the year NBCM returned +44.9% against +43.7%. Net assets: $425m on May 31, 2026 for Neuberger Commodity Strategy ETF, and $419m on Oct 14, 2026 for United States Commodity Index Fund ETV.

NBCM costs 0.40 points a year less; their one-year returns differ by 1.2 points.

NBCM vs USCI: Differences, Returns & Fees
NBCMUSCI
Expense ratio0.65%1.05%
Net assets, NBCM as of May 31, 2026 and USCI as of Oct 14, 2026$425m$419m
Total return, 1 year+44.9%+43.7%
What it tracksNo index, actively managedBroad futures
Holdings in commonnot published
+44.9%
NBCM total return, 1 year
+43.7%
USCI total return, 1 year
0.65%
NBCM expense ratio
1.05%
USCI expense ratio
Client brief · page 1 of 2Report BR-9B893CF047

NBCM and USCI are built for the same job. How do they differ in cost, holdings and results?

  1. What each follows. NBCM follows No index, actively managed and USCI follows Broad futures.
  2. Cost. NBCM charges 0.65% of assets a year and USCI 1.05%, a gap of 0.40 points.
  3. One-year total return (similar). Over 1 year to Oct 14, 2026 NBCM returned +44.9% and USCI +43.7% with distributions reinvested, a gap of 1.2 points.

Data as of Oct 14, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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On the same fields

NBCM
Neuberger Commodity Strategy ETF
USCI
United States Commodity Index Fund ETV
Where it sits Commodity ETF Commodity ETF
Issuer Neuberger Berman USCF
What it is Actively managed Holds broad futures
Total return, 1 year +44.9% +43.7%
Its benchmark over the same days +41.5% (BCI) not published
Gap to its benchmark +3.4 pts vs BCI not available
Expense ratio 0.65% 1.05%
Holdings 149 not read by ETFIQ
Net assets, NBCM as of May 31, 2026 and USCI as of Oct 14, 2026 $425m $419m

NBCM and USCI on the fields both publish, as of Oct 14, 2026. Source: ETFIQ.

About NBCM

NBCM is actively managed and tracks no index. Over the year to Oct 14, 2026 it returned +44.9% with distributions reinvested, against +41.5% for its benchmark, the Bloomberg Commodity Index. The prospectus expense ratio is 0.65% a year.

About USCI

USCI holds broad futures. Over the year to Oct 14, 2026 it returned +43.7% with distributions reinvested. The prospectus expense ratio is 1.05% a year.

Questions people ask

Which returned more over the last year, NBCM or USCI?
In the year to Oct 14, 2026, with distributions reinvested, NBCM returned +44.9% and USCI +43.7%.
Which is cheaper, NBCM or USCI?
NBCM is cheaper, by 0.40 percentage points a year. That is about $40 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BCD vs NBCMNBCM vs PITFAAR vs NBCMNBCM vs SDCIBCD vs USCIFAAR vs USCICMDT vs USCICMDY vs USCI
NBCM on its own →USCI on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
NBCM filings on SEC EDGAR ↗NBCM prospectus with the expense ratio (SEC) ↗Neuberger Berman website ↗USCI filings on SEC EDGAR ↗USCF website ↗

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

Cite this pageCitation, APA and Markdown

ETFIQ, NBCM against USCI, data as of Oct 14, 2026. https://etfiq.com/compare/any/nbcm-vs-usci

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