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
$ 57.5 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 | 9.6 % |
| ENERGY TRANSFER, L.P. | 7.5 % |
| ENTERPRISE PRODUCTS PARTNERS | 7.2 % |
| CHENIERE ENERGY INC | 6.9 % |
| DT MIDSTREAM, INC. | 5.7 % |
| CONOCOPHILLIPS | 5.3 % |
| CHEVRON CORP | 4.7 % |
| WILLIAMS COS INC | 4.5 % |
| WESTERN GAS EQUITY PARTNERS LP | 4.1 % |
| CLEARWAY ENERGY, INC. CLASS C | 3.8 % |
Constituent Breakdown
| Number of holdings | 32 |
| Herfindahl-Hirschman Index | 461 |
| Wgt avg mkt cap (mns) | $81,012 |
| Large cap (>$10bn) | 72.9% |
| Mid cap ($2-10bn) | 20.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 89.5% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 90.9 % |
 |
CANADA | 2.7 % |
Historical Performance
Standardized Performance (as of 08/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 18.1% | 18.5% | 14.9% | 17.0% | -- | -- | -- | 10.5% |
| Dividend Yield | 0.8% | 2.3% | 3.4% | 2.8% | -- | -- | -- | 2.0% |
| Total Returns | 18.9% | 20.7% | 18.3% | 19.8% | -- | -- | -- | 12.5% | Ann. Volatility | 16.1% | 15.2% | 19.5% | 18.3% | -- | -- | -- | 19.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | -0.03 | 0% |
| MSCI Emg Mkts | -0.02 | 0% |
Liquidity Measures
| Avg. volume (000) | 5 |
| ADV traded (mns) | $0 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.21% |
Technical Indicators
| 30d moving avg. (EMA) | $40.02 |
| Relative strength (RSI) | 45 |
| MACD/Signal | -0.39/-0.24 |
| Bollinger Bands (Upper/Lower) | $41.48/$38.52 |
| 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 | 49.7% | +30 bp | -1.4% |
| ENFR | Alerian Energy Infrastructure ETF | 47.1% | -20 bp | -0.9% |
| USAI | Pacer American Energy Independence ETF | 44.4% | +20 bp | -1.9% |
| PIPE | Invesco SteelPath MLP & Energy Infrastructure ETF | 42.2% | +20 bp | -1.9% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 40.9% | -10 bp | -1.4% |
| EINC | VanEck Energy Income ETF | 38.5% | -9 bp | -1.2% |
| TPYP | Tortoise North American Pipeline Fund | 35.0% | -15 bp | -1.1% |
| AMZA | InfraCap MLP ETF | 34.8% | +117 bp | -0.7% |
| USNG | Amplify Samsung U.S. Natural Gas Infrastructure ETF | 33.7% | +4 bp | -1.6% |
| BESF | Bastion Energy ETF | 32.7% | +25 bp | +0.2% |
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 11/4/2026
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
6.1%
ALTAR SCORE™
69th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 748 funds in the Global Equity category with an average
ALTAR Score™ of 4.7% and a standard deviation
of 2.7%. NBCT's ALTAR Score™ is approximately 0.5 standard
deviations above the category average. This places NBCT in the 69th percentile
among funds in the category.
Sell-Side Consensus
$43.71
PRICE TARGET
+8.2%
UPSIDE