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
$ 43.1 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Inception date | Apr 06, 2022 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TARGA RESOURCES CORP | 8.9 % |
| ENTERPRISE PRODUCTS PARTNERS | 7.4 % |
| ENERGY TRANSFER, L.P. | 7.4 % |
| DT MIDSTREAM, INC. | 6.0 % |
| CHENIERE ENERGY INC | 5.9 % |
| WILLIAMS COS INC | 5.3 % |
| CLEARWAY ENERGY, INC. CLASS C | 4.0 % |
| WESTERN GAS EQUITY PARTNERS LP | 3.9 % |
| ANTERO MIDSTREAM CORP. | 3.8 % |
| ANTERO RESOURCES CORP | 3.6 % |
Constituent Breakdown
| Number of holdings | 32 |
| Herfindahl-Hirschman Index | 441 |
| Wgt avg mkt cap (mns) | $55,016 |
| Large cap (>$10bn) | 71.5% |
| Mid cap ($2-10bn) | 18.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 94.9% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 88.4 % |
 |
CANADA | 2.9 % |
Historical Performance
Standardized Performance (as of 04/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 24.2% | 32.9% | 24.4% | 19.1% | -- | -- | -- | 12.8% |
| Dividend Yield | 0.0% | 2.8% | 3.2% | 2.6% | -- | -- | -- | 2.0% |
| Total Returns | 24.2% | 35.7% | 27.6% | 21.6% | -- | -- | -- | 14.8% | Ann. Volatility | 13.8% | 14.0% | 19.2% | 17.9% | -- | -- | -- | 19.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.34 | 8% |
| MSCI EAFE | 0.22 | 4% |
| MSCI Emg Mkts | 0.16 | 3% |
Liquidity Measures
| Avg. volume (000) | 0 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.21% |
Technical Indicators
| 30d moving avg. (EMA) | $38.45 |
| Relative strength (RSI) | 75 |
| MACD/Signal | 0.93/0.99 |
| Bollinger Bands (Upper/Lower) | $40.59/$37.99 |
| Short interest (% of AUM) | 0.0% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. NBCT |
Expenses vs. NBCT |
ALTAR Score™ vs. NBCT |
|---|---|---|---|---|
| UMI | USCF Midstream Energy Income Fund ETF | 51.3% | +30 bp | -0.7% |
| ENFR | Alerian Energy Infrastructure ETF | 50.7% | -20 bp | -0.3% |
| USAI | Pacer American Energy Independence ETF | 47.8% | +20 bp | -1.4% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 41.5% | -10 bp | -0.5% |
| EINC | VanEck Energy Income ETF | 40.3% | -7 bp | -0.5% |
| MLPI | NEOS MLP & Engy Infras Hi Inc ETF | 38.5% | +13 bp | -0.8% |
| TPYP | Tortoise North American Pipeline Fund | 33.6% | -15 bp | 0.0% |
| AMZA | InfraCap MLP ETF | 32.0% | +109 bp | +0.6% |
| EIPI | FT Energy Income Partners Enhanced Income ETF | 31.5% | +55 bp | +0.6% |
| BESF | Bastion Energy ETF | 31.4% | +25 bp | +0.7% |
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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| 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 5/15/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
5.1%
ALTAR SCORE™
63rd
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 584 funds in the Global Equity category with an average
ALTAR Score™ of 4.2% and a standard deviation
of 2.6%. NBCT's ALTAR Score™ is approximately 0.3 standard
deviations above the category average. This places NBCT in the 63rd percentile
among funds in the category.
Sell-Side Consensus
$42.71
PRICE TARGET
+2.2%
UPSIDE