NBOS vs. NBSD

Last updated Jun 24, 2026

NBOS (Neuberger Berman Option Strategy ETF) and NBSD (Neuberger Berman Short Duration Income ETF) are both exchange-traded funds - NBOS is a Options Trading fund actively managed by Neuberger Berman, while NBSD is a Short-Term Bond fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBOS returned 16.74% vs 4.08% for NBSD. At a 0.19 correlation, their price movements are largely independent. NBOS charges 0.56%/yr vs 0.35%/yr for NBSD.

Performance

NBOS vs. NBSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Option Strategy ETF (NBOS) and Neuberger Berman Short Duration Income ETF (NBSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBOS achieves a 5.59% return, which is significantly higher than NBSD's 0.85% return.

NBOS

• 1D: -1.02%
• 1M: -0.14%
• YTD: 5.59%
• 6M: 5.20%
• 1Y: 16.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NBSD

• 1D: 0.00%
• 1M: 0.13%
• YTD: 0.85%
• 6M: 0.84%
• 1Y: 4.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBOS vs. NBSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBOS Neuberger Berman Option Strategy ETF	5.59%	12.22%	5.60%
NBSD Neuberger Berman Short Duration Income ETF	0.85%	6.18%	3.93%

Correlation

The correlation between NBOS and NBSD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 24, 2024	0.19

Return for Risk

NBOS vs. NBSD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NBOS

NBOS Risk / Return Rank: 78
NBOS Sharpe Ratio Rank: 72
NBOS Sortino Ratio Rank: 71
NBOS Omega Ratio Rank: 81
NBOS Calmar Ratio Rank: 75
NBOS Martin Ratio Rank: 90

NBSD

NBSD Risk / Return Rank: 88
NBSD Sharpe Ratio Rank: 91
NBSD Sortino Ratio Rank: 94
NBSD Omega Ratio Rank: 93
NBSD Calmar Ratio Rank: 73
NBSD Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NBOS vs. NBSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Option Strategy ETF (NBOS) and Neuberger Berman Short Duration Income ETF (NBSD). 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.

	NBOS	NBSD	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.84	-0.71
Sortino ratio: Return per unit of downside risk	2.97	4.49	-1.52
Omega ratio: Gain probability vs. loss probability	1.44	1.61	-0.16
Calmar ratio: Return relative to maximum drawdown	3.57	3.45	+0.12
Martin ratio: Return relative to average drawdown	19.42	17.71	+1.71

NBOS vs. NBSD - Sharpe Ratio Comparison

The current NBOS Sharpe Ratio is 2.13, which is comparable to the NBSD Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of NBOS and NBSD, 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

NBOS vs. NBSD - Drawdown Comparison

The maximum NBOS drawdown since its inception was -12.66%, which is greater than NBSD's maximum drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for NBOS and NBSD.

Drawdown Indicators

	NBOS	NBSD	Difference
Max Drawdown Largest peak-to-trough decline	-12.66%	-2.63%	-10.03%
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	-1.19%	-3.52%
Current Drawdown Current decline from peak	-1.31%	-0.24%	-1.07%
Average Drawdown Average peak-to-trough decline	-1.10%	-0.23%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.23%	+0.63%

Volatility

NBOS vs. NBSD - Volatility Comparison

Neuberger Berman Option Strategy ETF (NBOS) has a higher volatility of 2.96% compared to Neuberger Berman Short Duration Income ETF (NBSD) at 0.43%. This indicates that NBOS's price experiences larger fluctuations and is considered to be riskier than NBSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBOS	NBSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	0.43%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	1.04%	+5.44%
Volatility (1Y) Calculated over the trailing 1-year period	7.91%	1.45%	+6.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.01%	2.76%	+7.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.01%	2.76%	+7.25%

NBOS vs. NBSD - Expense Ratio Comparison

NBOS has a 0.56% expense ratio, which is higher than NBSD's 0.35% expense ratio.

Dividends

NBOS vs. NBSD - Dividend Comparison

NBOS's dividend yield for the trailing twelve months is around 8.00%, more than NBSD's 4.81% yield.

Position	TTM	2025	2024
NBOS Neuberger Berman Option Strategy ETF	8.00%	7.81%	7.32%
NBSD Neuberger Berman Short Duration Income ETF	4.81%	5.06%	2.96%

Frequently Asked Questions

Can I hold both NBOS and NBSD in my portfolio?

NBOS and NBSD have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBOS or NBSD?

NBOS has higher volatility (2.96%) compared to NBSD (0.43%). In terms of maximum drawdown, NBOS dropped -12.66% vs NBSD's -2.63%.

Which ETF is better, NBOS or NBSD?

On 1-year performance, NBOS leads with 16.74% vs 4.08% for NBSD. On fees, NBSD is cheaper at 0.35% per year. On volatility, NBSD has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBOS or NBSD?

Over the 1-year period, NBOS has performed better with a 16.74% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBOS or NBSD?

NBSD is cheaper with a 0.35% expense ratio, compared with 0.56% for NBOS.

Which ETF pays a higher dividend yield, NBOS or NBSD?

NBOS has the higher dividend yield at 8.00%, compared with 4.81% for NBSD.

What is the main difference between NBOS and NBSD?

NBOS is categorized as Options Trading, while NBSD is Short-Term Bond. Their fees differ too: 0.56% for NBOS and 0.35% for NBSD.

Which has better risk-adjusted returns?

NBSD currently has the higher Sharpe Ratio (2.84 vs 2.13), 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.