Neodymium magnets also named as NdFeB Magnets simply because it mainly contains the 3 elements, i.e. Nd (Neodymium), Fe ( iron ) and B (Boron). Since neodymium is one of the rare earth elements, neodymium magnets are also classified as rare earth magnets, just as the SmCo magnets contains Sm and Co as rare earth elements. But because the neodymium magnets are much more popular than SmCo magnets, people normally refer to neodymium magnets when they talk about rare earth magnets. Other informal names are also used by people. Like super powerful magnets, super strong magnets, neo magnets, etc.