NBOS vs. PUTW

Last updated Aug 2, 2026

NBOS (Neuberger Berman Option Strategy ETF) and PUTW (WisdomTree PutWrite Strategy Fund) are both exchange-traded funds - NBOS is a Options Trading fund actively managed by Neuberger Berman, while PUTW is a Derivative Income fund tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index. NBOS is actively managed, while PUTW is passively managed. Their 0.49 correlation means their historical movements had little consistent relationship. NBOS charges 0.56%/yr vs 0.44%/yr for PUTW.

Performance

NBOS vs. PUTW - Performance Comparison

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

Returns By Period

NBOS

• 1D: 0.64%
• 1M: 1.31%
• 6M: 6.89%
• YTD: 8.54%
• 1Y: 17.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.64%

PUTW

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
NBOS Neuberger Berman Option Strategy ETF	$1.17M	$2.09M	$2.23M

NBOS vs. PUTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBOS Neuberger Berman Option Strategy ETF	8.54%	12.22%	10.59%
PUTW WisdomTree PutWrite Strategy Fund	0.00%	-2.80%	14.37%

Correlation

The correlation between NBOS and PUTW is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2024	0.49

Return for Risk

NBOS vs. PUTW — Risk / Return Rank

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

NBOS

NBOS Risk / Return Rank: 90
NBOS Sharpe Ratio Rank: 87
NBOS Sortino Ratio Rank: 87
NBOS Omega Ratio Rank: 90
NBOS Calmar Ratio Rank: 89
NBOS Martin Ratio Rank: 95

PUTW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

NBOS vs. PUTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Option Strategy ETF (NBOS) and WisdomTree PutWrite Strategy Fund (PUTW). 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	PUTW	Difference
Sharpe ratio: Return per unit of total volatility	2.09	—	—
Sortino ratio: Return per unit of downside risk	2.93	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	3.64	—	—
Martin ratio: Return relative to average drawdown	19.45	—	—

Drawdowns

Drawdown Indicators

	NBOS	PUTW	Difference
Max Drawdown Largest peak-to-trough decline	-12.66%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-1.07%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	NBOS	PUTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.23%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.92%	—	—

NBOS vs. PUTW - Expense Ratio Comparison

NBOS has a 0.56% expense ratio, which is higher than PUTW's 0.44% expense ratio.

Dividends

NBOS vs. PUTW - Dividend Comparison

NBOS's dividend yield for the trailing twelve months is around 8.04%, while PUTW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
NBOS Neuberger Berman Option Strategy ETF	8.04%	7.81%	7.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PUTW WisdomTree PutWrite Strategy Fund	0.00%	4.16%	11.99%	7.63%	2.16%	0.00%	1.43%	1.47%	5.49%	3.33%	2.27%

Frequently Asked Questions

Can I hold both NBOS and PUTW in my portfolio?

NBOS and PUTW have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBOS or PUTW?

On fees, PUTW is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBOS or PUTW?

PUTW is cheaper with a 0.44% expense ratio, compared with 0.56% for NBOS.

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

NBOS has the higher dividend yield at 8.04%, compared with 0.00% for PUTW.

What is the main difference between NBOS and PUTW?

NBOS is categorized as Options Trading, while PUTW is Derivative Income. They also come from different issuers: Neuberger Berman and WisdomTree. Their fees differ too: 0.56% for NBOS and 0.44% for PUTW.