MSLC vs NBCR
Morgan Stanley Pathway Large Cap Equity ETF vs Neuberger Berman Core Equity ETF
Which is better, MSLC or NBCR?
Nearly the same fund. NBCR costs less.
NBCR has a lower expense ratio. MSLC led over 1Y, NBCR over the full window. The two have moved almost in lockstep, correlation 0.99. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 36.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MSLC | NBCR |
|---|---|---|
| Expense Ratio | 0.39% | 0.29%Best |
| AUM | $4.1B | $856M |
| Dividend Yield | 1.95% | 0.42% |
| Holdings | 793 | 206 |
| YTD Return | +10.97%Best | +8.54% |
| 1Y Return | +14.08%Best | +12.11% |
| Volatility (annualized) | 11.9%Best | 12.2% |
| Max Drawdown | -17.9%Best | -18.2% |
| $10,000 over 1.8 years | $12,375 | $12,445Best |
| Top 10 Weight | 35.6%Best | 36.9% |
| Fund Family | Morgan Stanley | Neuberger Berman |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 9, 2024 | Jul 31, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 14, 2026 (1.8 years).
MSLC vs NBCR growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.8 years both funds cover.
MSLC vs NBCR Performance
Morgan Stanley Pathway Large Cap Equity ETF (MSLC) is an ETF from Morgan Stanley and Neuberger Berman Core Equity ETF (NBCR) is an ETF from Neuberger Berman. Over the past year MSLC returned +14.08% while NBCR returned +12.11%. Year to date, MSLC is up 10.97% versus a gain of 8.54% for NBCR.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBCR has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 11.9% for MSLC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -17.9% for MSLC and -18.2% for NBCR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MSLC charges 0.39% per year while NBCR charges 0.29%. On a $10,000 position that is $39 vs $29 annually, a gap of $10 per year that compounds over a long holding period. On income, MSLC currently yields 1.95% against 0.42% for NBCR.
Holdings Overlap
68.4% of MSLC's money is in holdings NBCR also owns. 94.9% of NBCR's money is in holdings MSLC also owns.
Most of NBCR is already inside MSLC. Owning both mostly buys the same companies twice.
180 positions in common, counted across the 789 positions we hold weights for in MSLC and 203 in NBCR, against full books of 793 and 206.
What only one of them owns
Our book lists 16 positions for NBCR that do not appear in our book for MSLC (3.2% of the fund), and 515 for MSLC that do not appear in NBCR (28.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in MSLC | Weight in NBCR | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.04% | 7.72% | 0.68% |
| AAPLApple, Inc | 5.80% | 6.95% | 1.15% |
| MSFTMicrosoft Corp | 5.55% | 6.03% | 0.48% |
| AMZNAmazon.Com Inc | 4.07% | 3.51% | 0.56% |
| GOOGLAlphabet Inc | 3.23% | 3.10% | 0.13% |
| METAMeta Platforms Inc | 2.31% | 2.26% | 0.05% |
| AVGOBroadcom Inc | 2.49% | 1.83% | 0.66% |
| GOOGAlphabet Inc. C | 1.95% | 2.31% | 0.36% |
| MUMicron Technology, Inc. | 1.60% | 1.48% | 0.12% |
| JPMJpmorgan Chase | 1.61% | 1.35% | 0.26% |
94.9% of NBCR is already inside MSLC.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MSLC or NBCR?
MSLC has an expense ratio of 0.39% while NBCR charges 0.29%. NBCR is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, MSLC or NBCR?
Over the past year MSLC returned +14.08% vs +12.11% for NBCR, so MSLC leads on 1-year performance. Over the longest common window we track (2 years), MSLC annualized +12.57% vs +12.92% for NBCR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MSLC or NBCR?
NBCR has been the more volatile fund at 12.2% annualized versus 11.9% for MSLC. Worst drawdown: MSLC -17.9% vs NBCR -18.2%.
Should I hold both MSLC and NBCR?
MSLC and NBCR have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between MSLC and NBCR?
94.9% of NBCR's money is in holdings MSLC also owns. 94.9% of NBCR's is in holdings MSLC also owns. They hold 180 positions in common, counted across the 789 positions we hold weights for in MSLC and 203 in NBCR.
Which pays a higher dividend, MSLC or NBCR?
MSLC yields 1.95% while NBCR yields 0.42%, so MSLC currently pays the higher dividend yield.
Is NBCR better than MSLC?
NBCR has a lower expense ratio. MSLC led over 1Y, NBCR over the full window. The two have moved almost in lockstep, correlation 0.99. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 36.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.