Data as of .
NBET vs USNZ: which is really different?
NBET and USNZ hold 0% of their weight in the same names, and NBET returned more over the year.
ETFIQ Off-Index Score: NBET scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
0% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, NBET and USNZ hold 0% of their money in the same securities at the same weight.
| Only in NBET | Only in USNZ |
|---|---|
| Targa Resources Corp 9.11% | NVIDIA CORP 9.67% |
| Enterprise Products Partners LP 7.61% | APPLE INC 8.72% |
| Energy Transfer LP 7.52% | MICROSOFT CORP 6.40% |
| DT Midstream Inc 6.07% | AMAZON.COM INC 4.15% |
| Cheniere Energy Inc 6.02% | ALPHABET INC 4.02% |
| Williams Cos Inc/The 5.42% | ALPHABET INC 3.38% |
| Clearway Energy Inc 4.04% | BROADCOM INC 3.37% |
| Western Midstream Partners LP 4.02% | META PLATFORMS INC 2.39% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and May 29, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| NBET | USNZ | NBET | USNZ | NBET | USNZ | |
| 3 months | +7.7% | +2.5% | +5.4 pts | +0.3 pts | +10.1 pts | +5.0 pts |
| 6 months | +4.0% | +21.1% | −14.0 pts | +3.1 pts | −20.2 pts | −3.1 pts |
| 1 year | +29.2% | +16.8% | +12.7 pts | +0.2 pts | +7.5 pts | −5.0 pts |
| 3 years | +89.3% | +77.0% | +10.9 pts | −1.4 pts | −8.8 pts | −21.2 pts |
| Since launch | +79.2% | +108.4% | −1.1 pts | −3.2 pts | −29.9 pts | −52.3 pts |
| NBET Neuberger Energy Transition & Infrastructure ETF Holds 31 stocks in energy transition and decarbonisation, 34% of its weight in S&P 500 companies | USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF Holds 306 stocks in energy transition and decarbonisation, 98% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Neuberger Berman | Xtrackers |
| Theme | Energy transition and decarbonisation | Energy transition and decarbonisation |
| In the S&P 500 | 34.5% | 97.9% |
| Active share vs the S&P 500 | 97.8% | 23.0% |
| In the Nasdaq-100 | 0.0% | 62.8% |
| Holdings | 31 | 306 |
| Top ten, share of the fund | 57.2% | 46.1% |
| Expense ratio | 0.65% | 0.10% |
| Fee for the differing part | 0.66% | 0.43% |
| Total return, 1 year | +29.2% | +16.8% |
| vs the S&P 500 | +12.7 pts | +0.2 pts |
| vs the Nasdaq-100 | +7.5 pts | −5.0 pts |
| Below its high | −2.9% | −1.4% |
| Net assets | $45m | $298m |
NBET in plain words
By weight, 34% of NBET's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 57% of the fund across 31 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +29.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 12.7 pts.
USNZ in plain words
By weight, 98% of USNZ's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 23%. The top ten holdings are 46% of the fund across 306 positions, as filed for May 29, 2026. Over the year to Sep 18, 2026 the fund returned +16.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was about even.
Questions people ask
- Do NBET and USNZ hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, NBET or USNZ?
- NBET has 34% of its weight in S&P 500 names and USNZ has 98%, so NBET differs more from the index.
- Which is cheaper, NBET or USNZ?
- NBET charges 0.65% a year and USNZ charges 0.10%, so USNZ is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, NBET against USNZ, data as of Sep 18, 2026. https://etfiq.com/compare/themes/nbet-vs-usnz Free to use with attribution; the underlying files are at Open data.