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China Equity ETF

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NBCE | China Equity ETF
Concentrated, all-cap portfolio focused on high quality, onshore China A-Share companies, which seeks to invest in a manner broadly consistent with the values of many U.S. investors
NET ASSET VALUE
$23.18
As of 04/12/24
1 DAY NAV CHANGE
$-0.24(-1.01%)
As of 04/12/24
YTD RETURN
-2.78%
As of 04/12/24
NET EXPENSE RATIO1
0.74%
GROSS EXPENSE RATIO1
2.14%

NOTICE:

NBCE began as the Neuberger Berman Greater China Equity Fund (Predecessor Fund), an open-end mutual fund which operated since July 17, 2013. As of the close of business on October 13, 2023, NBCE acquired the Predecessor Fund's assets and liabilities, and assumed its performance, financial and other historical information.

Why NBce?
Allocate to the broad onshore China equity market in one trade with an actively managed ETF that provides daily portfolio transparency, intra-day tradability and pricing
Potential for Outsized Growth
The world's second-largest economy and equity market is prioritizing higher quality economic growth and corporate sector return on equity, providing potentially attractive investment opportunities2
Access to China A-Shares
Unlock the broad China equity market, which houses “new economy” sectors such as consumer goods, technology, health care and modern manufacturing
Alignment of Values
The Fund's responsible investment approach seeks to invest in companies that align with the values of many U.S. investors, and exclude companies involved in business activities and behaviors that we perceive to be environmentally or socially harmful3
Actively Managed
Passive alternatives do not limit exposure to controversies and may lack the expertise and resources to properly analyze corporate governance initiatives
Fund Details
As of 04/12/24
Total Net Assets
As of 04/12/24
$5.49 million
Ticker
NBCE
CUSIP
64135A507
ISIN
US64135A5074
Exchange
NYSE ARCA
ETF Listing Date
10/16/23
Predecessor Fund Inception Date
07/17/13
Asset Class
Equity
Reference Benchmark
MSCI China A Onshore Index (Net)
Distribution Frequency
Annually
Creation Basket Size (In Shares)
25,000
Shares Outstanding
As of 04/12/24
236,994
Number of Holdings
As of 04/12/24
58
Performance & Distributions
Price & Trading Characteristics
As of 04/12/24
NAV
$23.18
Closing Price (4PM)
$23.25
Premium/Discount ($)
$0.08
Premium/Discount (%)
0.33%
Daily Volume
30-Day Average Volume
1,160
30-Day Median Bid/Ask Spread
0.54%

Net Asset Value is determined at the close of each business day, and represents the dollar value of one share of the Fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. ETF investors should not expect to buy or sell shares at NAV.

Premium/Discount: The amount the Fund’s closing price is trading above or below the reported NAV, expressed as a percentage of the NAV. When the Fund’s closing price is greater than the Fund’s NAV, it is said to be trading at a “premium” and the percentage is expressed as a positive number. When the Fund’s closing price is less than the Fund’s NAV, it is said to be trading at a “discount” and the percentage is expressed as a negative number.

30 Day Bid/Ask Spread: The median bid-ask spread (expressed as a percentage rounded to the nearest hundredth) is calculated by identifying the national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified.

30-Day Average Volume (Shares): The average number of shares traded in a security across all U.S. exchanges over the last 30 calendar days. Because ETFs trade like stocks at current market prices, shareholders may pay more than a Fund’s NAV when purchasing fund shares and may receive less than a Fund’s NAV when selling Fund shares. The premium and discount information contained on this website represents past performance and cannot be used to predict future results.

HISTORICAL PREMIUM/DISCOUNT
Portfolio Holdings
  • Top 10 Holdings
  • Sector Allocation
  • Geographic Breakdown
  • as of
Fees
Management Fee
0.69%
Other Expenses
1.45%
Gross Expense Ratio
2.14%
Net Expense Ratio
0.74%

Net expense ratio represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The investment manager has contractually undertaken to waive and/or reimburse certain fees and expenses so that the total annual operating expenses (excluding interest, brokerage commissions, acquired fund fees and expenses, taxes including any expenses relating to tax reclaims, dividend and interest expenses relating to short sales, and extraordinary expenses, if any) of the Fund are limited to 0.74% of average net assets through 8/31/2026. Absent such arrangements, which cannot be changed without Board approval, the returns may have been lower. Information as of most recent prospectus dated 12/18/2023, as amended and supplemented. Please see the Fund’s prospectus for additional details.

Team
Yi Shi
Associate Portfolio Manager
Ning Meng, Portfolio Manager
Ning Meng (孟宁), Managing Director, joined the firm in 2019. Ning is Neuberger Berman’s Portfolio Manager responsible for the China A-Share strategy and is part of the Emerging Markets Equity team. Prior to joining the firm, he was with HFT Investment Management, where he most recently served as Chief Investment Officer, Chief Executive Officer of HFT HK, and Head of International Investment. In that role, he was responsible for portfolio management and investment advisory for HFT HK, and its QFII and RQFII clients. Prior to HFT, Ning was Deputy CEO and CIO for Pegasus (a joint venture of Fullerton Fund Management in China), and a portfolio manager and Chief Representative of China for Fullerton. He started his career with CPIC, the third largest insurance company in China, and served as a senior equity portfolio manager. Ning received his master’s degree in Economics and Financials from York University UK and a BA in Economics and International Trade from Nanjing University China.
Yi Shi, Associate Portfolio Manager
Yi Shi (史怡), Vice President, joined the firm in 2020. Yi is an Associate Portfolio Manager and Portfolio Analyst for China A-Share strategies responsible for ESG integration, engagement, and investment. Prior to joining the firm, she was with HFT Investment Management, where she served as portfolio analyst of International Investment Department. In that role, she was assisting in portfolio management, including research on various investment strategies, establish a ESG framework and complete investment analysis. She started her career with JP Morgan Chase in the US and served as a compliance support specialist. Yi received her MBA from the University of Dayton in the US and a BA in International Economics and Trade from Northwest University China. Yi has been awarded the Certificate in ESG Investing by the CFA Institute.
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