NBSM vs. NBDS

Last updated Jun 4, 2026

NBSM (Neuberger Small-Mid Cap ETF) and NBDS (Neuberger Berman Disrupters ETF) are both exchange-traded funds - NBSM is a Mid Cap Growth Equities fund actively managed by Neuberger Berman, while NBDS is a Technology Equities fund actively managed by Neuberger Berman. Both are actively managed. Over the past year, NBSM returned 8.81% vs 33.80% for NBDS. A 0.55 correlation means they provide meaningful diversification when combined. NBSM charges 0.65%/yr vs 0.55%/yr for NBDS.

Performance

NBSM vs. NBDS - Performance Comparison

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

Returns By Period

In the year-to-date period, NBSM achieves a 5.59% return, which is significantly lower than NBDS's 17.73% return.

NBSM

• 1D: -0.19%
• 1M: 0.41%
• YTD: 5.59%
• 6M: 3.81%
• 1Y: 8.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NBDS

• 1D: -0.69%
• 1M: 16.39%
• YTD: 17.73%
• 6M: 15.50%
• 1Y: 33.80%
• 3Y*: 23.07%
• 5Y*: —
• 10Y*: —

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

NBSM vs. NBDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBSM Neuberger Small-Mid Cap ETF	5.59%	-0.04%	-0.40%
NBDS Neuberger Berman Disrupters ETF	17.73%	19.58%	2.76%

Correlation

The correlation between NBSM and NBDS is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024	0.55

The correlation between NBSM and NBDS has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

NBSM vs. NBDS - Sectors Allocation Comparison

Sectors	NBSM	NBDS
Industrials	32.3%	5.8%
Technology	17.8%	65.4%
Financial Services	16.4%	5.7%
Healthcare	8.4%	9.1%
Energy	7.2%	-
Utilities	6.1%	3.1%
Consumer Cyclical	5.0%	6.5%
Communication Services	2.7%	4.4%
Real Estate	2.7%	-
Basic Materials	1.5%	-
Consumer Defensive	-	-

Return for Risk

NBSM vs. NBDS — Risk / Return Rank

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

NBSM

NBSM Risk / Return Rank: 20
NBSM Sharpe Ratio Rank: 19
NBSM Sortino Ratio Rank: 20
NBSM Omega Ratio Rank: 19
NBSM Calmar Ratio Rank: 21
NBSM Martin Ratio Rank: 22

NBDS

NBDS Risk / Return Rank: 34
NBDS Sharpe Ratio Rank: 39
NBDS Sortino Ratio Rank: 36
NBDS Omega Ratio Rank: 38
NBDS Calmar Ratio Rank: 29
NBDS Martin Ratio Rank: 27

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.

NBSM vs. NBDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Small-Mid Cap ETF (NBSM) and Neuberger Berman Disrupters ETF (NBDS). 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.

	NBSM	NBDS	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.38	-0.79
Sortino ratio: Return per unit of downside risk	1.00	1.90	-0.91
Omega ratio: Gain probability vs. loss probability	1.11	1.24	-0.13
Calmar ratio: Return relative to maximum drawdown	0.87	1.42	-0.54
Martin ratio: Return relative to average drawdown	2.62	3.71	-1.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBSM vs. NBDS - Sharpe Ratio Comparison

The current NBSM Sharpe Ratio is 0.59, which is lower than the NBDS Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of NBSM and NBDS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NBSM	NBDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	1.38	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.52	-0.39

Drawdowns

NBSM vs. NBDS - Drawdown Comparison

The maximum NBSM drawdown since its inception was -25.16%, smaller than the maximum NBDS drawdown of -29.81%. Use the drawdown chart below to compare losses from any high point for NBSM and NBDS.

Drawdown Indicators

	NBSM	NBDS	Difference
Max Drawdown Largest peak-to-trough decline	-25.16%	-29.81%	+4.65%
Max Drawdown (1Y) Largest decline over 1 year	-10.12%	-23.96%	+13.84%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.51%	—
Current Drawdown Current decline from peak	-5.11%	-0.69%	-4.42%
Average Drawdown Average peak-to-trough decline	-7.43%	-9.52%	+2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	9.13%	-5.76%

Volatility

NBSM vs. NBDS - Volatility Comparison

The current volatility for Neuberger Small-Mid Cap ETF (NBSM) is 3.92%, while Neuberger Berman Disrupters ETF (NBDS) has a volatility of 8.88%. This indicates that NBSM experiences smaller price fluctuations and is considered to be less risky than NBDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBSM	NBDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	8.88%	-4.96%
Volatility (6M) Calculated over the trailing 6-month period	10.62%	19.41%	-8.79%
Volatility (1Y) Calculated over the trailing 1-year period	14.98%	24.54%	-9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.09%	27.64%	-9.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	27.64%	-9.55%

NBSM vs. NBDS - Expense Ratio Comparison

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

Dividends

NBSM vs. NBDS - Dividend Comparison

NBSM's dividend yield for the trailing twelve months is around 0.38%, more than NBDS's 0.32% yield.

Position	TTM	2025	2024
NBDS Neuberger Berman Disrupters ETF	0.32%	0.38%	0.00%
NBSM Neuberger Small-Mid Cap ETF	0.38%	0.40%	0.23%

Frequently Asked Questions

Can I hold both NBSM and NBDS in my portfolio?

NBSM and NBDS have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBSM or NBDS?

NBDS has higher volatility (8.88%) compared to NBSM (3.92%). In terms of maximum drawdown, NBSM dropped -25.16% vs NBDS's -29.81%.

Which ETF is better, NBSM or NBDS?

On 1-year performance, NBDS leads with 33.80% vs 8.81% for NBSM. On fees, NBDS is cheaper at 0.55% per year. On volatility, NBSM has been the lower-risk option at 3.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBSM or NBDS?

Over the 1-year period, NBDS has performed better with a 33.80% return vs 8.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBSM or NBDS?

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

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

NBSM has the higher dividend yield at 0.38%, compared with 0.32% for NBDS.

What is the main difference between NBSM and NBDS?

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

Which has better risk-adjusted returns?

NBDS currently has the higher Sharpe Ratio (1.38 vs 0.59), 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.