NBCT
Neuberger Berman Carbon Transition Infrastructure ETF
NBCT uses a fundamental, bottom-up approach to actively invest in carbon transition and infrastructure companies of any size from developed and emerging markets.
Global
EQUITY
Active
MANAGEMENT STYLE
33.1 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Fund sponsor | Neuberger Berman |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 06, 2022 |
| Assets (mns) | $33 |
| Expense ratio | 55 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
| LINDE PLC | 5.6 % |
| ABB LTD. | 5.3 % |
| EATON CORP PLC | 4.8 % |
| CONSTELLATION ENERGY CORPORATION | 4.4 % |
| NEXTERA ENERGY GROUP | 4.0 % |
| FIRST SOLAR INC | 3.8 % |
| SCHNEIDER ELECTRIC SA | 3.8 % |
| CHENIERE ENERGY INC | 3.8 % |
| QUANTA SERVICES INC | 3.7 % |
| CRH PLC | 3.6 % |
Constituent Breakdown
| Number of holdings | 45 |
| Herfindahl-Hirschman Index | 315 |
| Wgt avg mkt cap (mns) | $66,481 |
| Large cap (>$10bn) | 83.0% |
| Mid cap ($2-10bn) | 12.1% |
| Small cap (<$2bn) | 0.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 52.3 % |
 |
IRELAND | 9.3 % |
 |
SWITZERLAND | 8.2 % |
 |
BRITAIN | 8.1 % |
 |
SPAIN | 4.4 % |
 |
FRANCE | 3.8 % |
 |
DENMARK | 3.4 % |
 |
CANADA | 2.8 % |
 |
NETHERLANDS | 2.0 % |
 |
GERMANY | 1.6 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 14.9% | 15.2% | 16.7% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 74% |
| MSCI EAFE | 0.94 | 72% |
| MSCI Emg Mkts | 0.76 | 49% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.21% |
| ADV of underlying (mns) | $9,532 |
Technical Indicators
| Recent close | $30.62 |
| 30d moving avg. | $30.75 |
| Annualized volatility | 20.0% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 0.0% |
| 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. NBCT |
Expenses vs. NBCT |
ALTAR Score™ vs. NBCT |
|---|---|---|---|---|
| SOLR | Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund | 30.9% | +24 bp | +1.9% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 24.2% | +4 bp | +0.4% |
| GII | SPDR S&P Global Infrastructure ETF | 22.0% | -15 bp | +1.1% |
| IGF | iShares Global Infrastructure ETF | 22.0% | -14 bp | +1.1% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 22.0% | -10 bp | +2.3% |
| GSFP | Goldman Sachs Future Planet Equity ETF | 21.2% | +20 bp | +0.9% |
| GRID | First Trust Nasdaq Clean Edge Smart GRID Infrastructure | 21.1% | +3 bp | +1.1% |
| TEMP | JPMorgan Climate Change Solutions ETF | 21.1% | -6 bp | +2.2% |
| JXI | iShares Global Utilities ETF | 20.9% | -12 bp | +2.9% |
| IDU | iShares U.S. Utilities ETF | 18.5% | -15 bp | +1.7% |
Risk and Returns: NBCT 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/19/2024
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
NBCT
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
NBCT
3.5%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. NBCT's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places NBCT in the 44th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NBCTSELL
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 |
| NBCT (55 bp) Percentile rank | 29 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NBCT | 55.0 | 20.9 | 75.9 |
| Peer Avg. | 57.0 | 39.6 | 96.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .