NBDS vs. NBSM

Last updated Aug 4, 2026

NBDS (Neuberger Berman Disrupters ETF) and NBSM (Neuberger Small-Mid Cap ETF) are both exchange-traded funds - NBDS is a Technology Equities fund actively managed by Neuberger Berman, while NBSM is a Mid Cap Growth Equities fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBDS returned 17.77% vs 15.50% for NBSM. Their 0.52 correlation means they have sometimes moved together and sometimes differently. NBDS charges 0.55%/yr vs 0.65%/yr for NBSM.

Performance

NBDS vs. NBSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Disrupters ETF (NBDS) and Neuberger Small-Mid Cap ETF (NBSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBDS achieves a 11.35% return, which is significantly lower than NBSM's 14.54% return.

NBDS

• 1D: 1.70%
• 1M: -3.47%
• 6M: 17.42%
• YTD: 11.35%
• 1Y: 17.77%
• 3Y*: 19.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.08%

NBSM

• 1D: 1.55%
• 1M: 1.77%
• 6M: 9.51%
• YTD: 14.54%
• 1Y: 15.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.89%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NBDS Neuberger Berman Disrupters ETF	$3.41M	$2.00M	$2.54M
NBSM Neuberger Small-Mid Cap ETF	$323.50K	$384.29K	$2.46M

NBDS vs. NBSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBDS Neuberger Berman Disrupters ETF	11.35%	19.58%	4.09%
NBSM Neuberger Small-Mid Cap ETF	14.54%	-0.04%	0.03%

Correlation

The correlation between NBDS and NBSM is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.52

The correlation between NBDS and NBSM has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

NBDS vs. NBSM - Sectors Allocation Comparison

Sectors	NBDS	NBSM
Technology	60.3%	17.4%
Healthcare	15.5%	11.7%
Industrials	8.0%	25.6%
Financial Services	5.3%	17.1%
Consumer Cyclical	5.2%	9.1%
Communication Services	3.4%	2.4%
Utilities	2.3%	5.2%
Basic Materials	-	2.7%
Consumer Defensive	-	0.9%
Energy	-	5.6%
Real Estate	-	2.4%

Return for Risk

NBDS vs. NBSM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBDS

NBDS Risk / Return Rank: 26
NBDS Sharpe Ratio Rank: 26
NBDS Sortino Ratio Rank: 27
NBDS Omega Ratio Rank: 26
NBDS Calmar Ratio Rank: 24
NBDS Martin Ratio Rank: 24

NBSM

NBSM Risk / Return Rank: 39
NBSM Sharpe Ratio Rank: 37
NBSM Sortino Ratio Rank: 41
NBSM Omega Ratio Rank: 35
NBSM Calmar Ratio Rank: 40
NBSM Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBDS vs. NBSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Disrupters ETF (NBDS) and Neuberger Small-Mid Cap ETF (NBSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NBDS	NBSM	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.02	-0.38
Sortino ratio: Return per unit of downside risk	1.04	1.65	-0.61
Omega ratio: Gain probability vs. loss probability	1.13	1.18	-0.05
Calmar ratio: Return relative to maximum drawdown	0.75	1.54	-0.79
Martin ratio: Return relative to average drawdown	1.90	4.59	-2.70

NBDS vs. NBSM - Sharpe Ratio Comparison

The current NBDS Sharpe Ratio is 0.64, which is lower than the NBSM Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of NBDS and NBSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NBDS vs. NBSM - Drawdown Comparison

The maximum NBDS drawdown since its inception was -29.93%, which is greater than NBSM's maximum drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for NBDS and NBSM.

Drawdown Indicators

	NBDS	NBSM	Difference
Max Drawdown Largest peak-to-trough decline	-29.93%	-25.16%	-4.77%
Max Drawdown (1Y) Largest decline over 1 year	-23.96%	-10.12%	-13.84%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	—	—
Current Drawdown Current decline from peak	-7.02%	0.00%	-7.02%
Average Drawdown Average peak-to-trough decline	-9.37%	-7.04%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.39%	3.38%	+6.01%

Volatility

NBDS vs. NBSM - Volatility Comparison

Neuberger Berman Disrupters ETF (NBDS) has a higher volatility of 9.10% compared to Neuberger Small-Mid Cap ETF (NBSM) at 3.88%. This indicates that NBDS's price experiences larger fluctuations and is considered to be riskier than NBSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBDS	NBSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.10%	3.88%	+5.22%
Volatility (6M) Calculated over the trailing 6-month period	23.22%	11.14%	+12.08%
Volatility (1Y) Calculated over the trailing 1-year period	27.92%	15.31%	+12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.03%	17.91%	+10.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.03%	17.91%	+10.12%

NBDS vs. NBSM - Expense Ratio Comparison

NBDS has a 0.55% expense ratio, which is lower than NBSM's 0.65% expense ratio.

Dividends

NBDS vs. NBSM - Dividend Comparison

NBDS's dividend yield for the trailing twelve months is around 0.34%, less than NBSM's 0.35% yield.

Position	TTM	2025	2024
NBDS Neuberger Berman Disrupters ETF	0.34%	0.38%	0.00%
NBSM Neuberger Small-Mid Cap ETF	0.35%	0.40%	0.23%

Frequently Asked Questions

Can I hold both NBDS and NBSM in my portfolio?

NBDS and NBSM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBDS or NBSM?

NBDS has higher volatility (9.10%) compared to NBSM (3.88%). In terms of maximum drawdown, NBDS dropped -29.93% vs NBSM's -25.16%.

Which ETF is better, NBDS or NBSM?

On 1-year performance, NBDS leads with 17.77% vs 15.50% for NBSM. On fees, NBDS is cheaper at 0.55% per year. On volatility, NBSM has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBDS or NBSM?

Over the 1-year period, NBDS has performed better with a 17.77% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBDS or NBSM?

NBDS is cheaper with a 0.55% expense ratio, compared with 0.65% for NBSM.

Which ETF pays a higher dividend yield, NBDS or NBSM?

NBSM has the higher dividend yield at 0.35%, compared with 0.34% for NBDS.

What is the main difference between NBDS and NBSM?

NBDS is categorized as Technology Equities, while NBSM is Mid Cap Growth Equities. Their fees differ too: 0.55% for NBDS and 0.65% for NBSM.

Which has better risk-adjusted returns?

NBSM currently has the higher Sharpe Ratio (1.02 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.