NBGX vs SPY
Neuberger Berman Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NBGX or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 53.4%.
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 | NBGX | SPY |
|---|---|---|
| Expense Ratio | 0.44% | 0.09%Best |
| AUM | $15M | $823.2B |
| Dividend Yield | 0.38% | 0.99% |
| Holdings | 112 | 1,515 |
| YTD Return | +8.10% | +13.53%Best |
| 1Y Return | +9.56% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 15.8% | 12.3%Best |
| Max Drawdown | -21.6% | -18.8%Best |
| $10,000 over 1.8 years | $12,451 | $13,395Best |
| Top 10 Weight | 53.4% | 38.2%Best |
| Fund Family | Neuberger Berman ETF Trust | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Dec 18, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 19, 2024 to Oct 14, 2026 (1.8 years).
NBGX vs SPY 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.
NBGX vs SPY Performance
Neuberger Berman Growth ETF (NBGX) is an ETF from Neuberger Berman ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NBGX returned +9.56% while SPY returned +17.47%. Year to date, NBGX is up 8.10% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBGX has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 12.3% for SPY. 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 -21.6% for NBGX and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NBGX charges 0.44% per year while SPY charges 0.09%. On a $10,000 position that is $44 vs $9 annually, a gap of $35 per year that compounds over a long holding period. On income, NBGX currently yields 0.38% against 0.99% for SPY.
Holdings Overlap
84.9% of NBGX's money is in holdings SPY also owns. 50.9% of SPY's money is in holdings NBGX also owns.
Most of NBGX is already inside SPY. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 58 positions we hold weights for in NBGX and 504 in SPY, against full books of 112 and 1,515.
What only one of them owns
Our book lists 450 positions for SPY that do not appear in our book for NBGX (48.2% of the fund), and 7 for NBGX that do not appear in SPY (4.9%).
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 NBGX | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 10.67% | 7.78% | 2.89% |
| GOOGLAlphabet Inc | 8.85% | 3.12% | 5.73% |
| AAPLApple, Inc | 4.43% | 7.45% | 3.02% |
| MSFTMicrosoft Corp | 5.36% | 5.71% | 0.35% |
| METAMeta Platforms Inc | 6.07% | 2.22% | 3.85% |
| AMZNAmazon.Com Inc | 3.91% | 3.78% | 0.13% |
| AVGOBroadcom Inc | 4.94% | 2.48% | 2.46% |
| MUMicron Technology, Inc. | 2.85% | 1.59% | 1.26% |
| LLYEli Lilly & Co. | 2.92% | 1.37% | 1.55% |
| VVisa Inc Class A | 2.38% | 0.95% | 1.43% |
84.9% of NBGX is already inside SPY.
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, NBGX or SPY?
NBGX has an expense ratio of 0.44% while SPY charges 0.09%. SPY is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, NBGX or SPY?
Over the past year NBGX returned +9.56% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NBGX annualized +12.95% vs +17.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBGX or SPY?
NBGX has been the more volatile fund at 15.8% annualized versus 12.3% for SPY. Worst drawdown: NBGX -21.6% vs SPY -18.8%.
Should I hold both NBGX and SPY?
NBGX and SPY have a monthly-return correlation of 0.94, 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 NBGX and SPY?
84.9% of NBGX's money is in holdings SPY also owns. 50.9% of SPY's is in holdings NBGX also owns. They hold 46 positions in common, counted across the 58 positions we hold weights for in NBGX and 504 in SPY.
Which pays a higher dividend, NBGX or SPY?
NBGX yields 0.38% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than NBGX?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 53.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.