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Commodity Strategy ETF

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NBCM | Commodity Strategy ETF
Investing in commodities with an active risk-diversified approach that seeks to minimize effects of market volatility
NET ASSET VALUE
$23.01
As of 12/01/22
1 DAY NAV CHANGE
$0.07(0.33%)
As of 12/01/22
YTD RETURN
16.38%
As of 12/01/22
NET EXPENSE RATIO1
0.65%
GROSS EXPENSE RATIO1
0.79%

NOTICE:

NBCM began as the Neuberger Berman Commodity Strategy Fund (Predecessor Fund), an open-end mutual fund which had operated since August 27, 2012. Effective as of the close of business on October 21, 2022, NBCM acquired its assets and liabilities, and assumed its performance, financial and other historical information.

Differentiators
Commodity Risk Diversification
Risk-balanced portfolio construction seeks to enhance diversification
Alpha Enhancements
Tactical exposure adjustments and optimized derivative contract selection expand alpha sources
Inflation Hedge
Provides exposure to global growth and seeks to mitigate effects of inflation
Commodities: Unique Characteristics and Benefits
FUND DETAILS
Total Net Assets
As of 12/01/22
$224.64 million
Ticker
NBCM
CUSIP
64135A408
ISIN
US64135A4085
Exchange
NYSE ARCA
ETF Listing Date
10/24/22
Predecessor Fund Inception Date
08/27/12
Asset Class
Commodities
Reference Benchmark
Bloomberg Commodity Index
Distribution Frequency
Annually
Creation Basket Size (In Shares)
25,000
Shares Outstanding
As of 12/01/22
9,763,076
Number of Commodity Holdings
As of 12/01/22
28
PERFORMANCE & DISTRIBUTIONS
PRICE & TRADING CHARACTERISTICS
As of 12/01/22
NAV
$23.01
Closing Price (4PM)
$22.90
Premium/Discount ($)
($0.11)
Premium/Discount (%)
-0.47%
Daily Volume
241,125
30-Day Average Volume
99,908
30-Day Median Bid/Ask Spread
0.43%

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
Annual Fund Operating Expenses
Gross Expense Ratio
0.79%
Net Expense Ratio
0.65%

Net expense ratio represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The ETF’s investment manager has contractually undertaken to waive and/or reimburse certain fees and expenses of the ETF so that the total annual operating expenses are capped (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses relating to short sales, and extraordinary expenses, if any) through 8/31/2025. Absent such arrangements, which cannot be changed without Board approval, the returns may have been lower. Information as of most recent prospectus dated 9/16/2022, as amended and supplemented.

Net expense ratio represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The ETF’s investment manager has contractually undertaken to waive and/or reimburse certain fees and expenses of the ETF so that the total annual operating expenses are capped (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses relating to short sales, and extraordinary expenses, if any) through 8/31/2025. Absent such arrangements, which cannot be changed without Board approval, the returns may have been lower. Information as of most recent prospectus dated 9/16/2022, as amended and supplemented.

Team
Hakan Kaya, PhD
Senior Portfolio Manager
New York
David Wan
Portfolio Manager
New York
Michael Foster
Senior Portfolio Manager
New York
Hakan Kaya, PhD, Senior Portfolio Manager
Hakan Kaya, PhD, Managing Director, joined the firm in 2008. Hakan is a Senior Portfolio Manager on the Quantitative and Multi-Asset Strategies team responsible for Global Risk Balanced Portfolios and Commodities. He contributes to asset allocation research with a focus on risk management and has a record of publishing research in both refereed journals and white papers on timely investment issues. Prior to joining the firm, he was a consultant with Mount Lucas Management Corporation where he developed weather risk and statistical relative value models for commodities investment. Dr. Kaya received BS degrees summa cum laude in Mathematics and Industrial Engineering from Koc University in Istanbul, Turkey and holds a PhD in Operations Research & Financial Engineering from Princeton University.
David Wan, Portfolio Manager
David Yi Wan, Senior Vice President, joined the firm in 2001. David is a Portfolio Manager on the Quantitative and Multi-Asset Class (“QMAC”) team responsible for Global Risk Balanced Portfolios and Commodities. He focuses on research and development of asset allocation and commodities investment strategies. In addition, he is responsible for the day-to-day portfolio management and implementation of these strategies. Prior to joining the firm, he was an Assistant Vice President with the Information Management department at Lehman Brothers. Previously, he was deputy director of the Science & Technology Office with Chongqing Cheng-Yu Expressway Company Limited in China. David received a BS in Engineering Mechanics from Tongji University (China), an MS in Computer Science from the City College of New York and an MBA from New York University Stern Business School.
Michael Foster, Senior Portfolio Manager

Michael J. Foster, Managing Director, joined the firm in 1999. Mike is a Senior Portfolio Manager on multiple fixed income strategies, including Enhanced Cash and Short Duration, as well as high quality strategies across the yield curve. Prior to joining the firm, Mike worked in the Fixed Income division of Bear Stearns (1994-1997). Mike earned a BA from Lehigh University and a MBA from the University of Rochester, Simon Business School.

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