NBCC
Neuberger Berman Next Generation Connected Consumer ETF
NBCC actively selects global companies across multiple sectors, that are positioned to benefit from the growing economic power of the NextGen Consumers: Generations Y & Z.
Global
EQUITY
Active
MANAGEMENT STYLE
6.8 M
ASSETS UNDER MGMT
56 bp
EXPENSES
Fund Basics
| Fund sponsor | Neuberger Berman |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 06, 2022 |
| Assets (mns) | $7 |
| Expense ratio | 56 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PHILIP MORRIS INTERNATIONAL | 5.3 % |
| HOME DEPOT INC | 4.9 % |
| SPOTIFY TECHNOLOGY SA | 4.9 % |
| T-MOBILE US, INC. | 4.7 % |
| ESSILOR INTERNATIONAL | 4.5 % |
| DRAFTKINGS INC CLASS A | 4.5 % |
| MCDONALD'S CORP | 4.2 % |
| CARNIVAL CORP | 3.9 % |
| ALLSTATE CORP | 3.7 % |
| WIX.COM LTD | 3.2 % |
Constituent Breakdown
| Number of holdings | 36 |
| Herfindahl-Hirschman Index | 318 |
| Wgt avg mkt cap (mns) | $171,852 |
| Large cap (>$10bn) | 82.8% |
| Mid cap ($2-10bn) | 12.6% |
| Small cap (<$2bn) | 4.7% |
| Developed mkts. | 98.3% |
| Emerging mkts. | 1.7% |
Country Exposure
 |
UNITED STATES | 65.6 % |
 |
LUXEMBOURG | 7.6 % |
 |
FRANCE | 6.0 % |
 |
ITALY | 3.8 % |
 |
ISRAEL | 3.2 % |
 |
BRITAIN | 2.7 % |
 |
NETHERLANDS | 2.3 % |
 |
MEXICO | 1.6 % |
 |
CHINA | 1.0 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.8% | 13.5% | 12.4% | -- | -- | -- | 3.6% | Volatility | 13.6% | 12.3% | 13.6% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.04 | 75% |
| MSCI EAFE | 0.96 | 69% |
| MSCI Emg Mkts | 0.81 | 51% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.23% |
| ADV of underlying (mns) | $12,816 |
Technical Indicators
| Recent close | $24.68 |
| 30d moving avg. | $25.56 |
| Annualized volatility | 19.8% |
| Relative strength (RSI) | 42 |
| Short interest (ETF) | 0.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. NBCC |
Expenses vs. NBCC |
ALTAR Score™ vs. NBCC |
|---|---|---|---|---|
| IYC | iShares U.S. Consumer Discretionary ETF | 20.3% | -16 bp | +1.5% |
| XLY | Consumer Discretionary Select Sector SPDR Fund | 17.0% | -48 bp | +2.6% |
| IEDI | iShares U.S. Consumer Focused ETF | 16.4% | -38 bp | +2.7% |
| FDIS | Fidelity MSCI Consumer Discretionary Index ETF | 15.5% | -48 bp | +2.3% |
| VCR | Vanguard Consumer Discretionary ETF | 15.3% | -46 bp | +2.4% |
| RSPD | Invesco S&P 500 Equal Weight Consumer Discretionary ETF | 14.5% | -16 bp | +3.2% |
| RXI | iShares Global Consumer Discretionary ETF | 14.0% | -15 bp | +6.6% |
| MILN | Global X Millennial Consumer ETF | 14.0% | -6 bp | +0.5% |
| ACSI | American Customer Satisfaction ETF | 13.8% | +9 bp | +2.7% |
| DGRW | WisdomTree US Quality Dividend Growth Fund | 13.5% | -28 bp | +3.1% |
Risk and Returns: NBCC vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2024 | 2025E | Fwd Est | 2026E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/2/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
NBCC
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
NBCC
2.6%
Cat. Avg
4.5%
ALTAR Score™ Calculation
Category Overview
There are 363 funds in the Global Equity category, with an average ALTAR Score™
of 4.5% and a standard deviation of
4.0%. NBCC's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places NBCC in the 31st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NBCCSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| NBCC (56 bp) Percentile rank | 31 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NBCC | 56.0 | 22.5 | 78.5 |
| Peer Avg. | 72.6 | 36.2 | 108.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .