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NBDS

GradeCNew York Stock Exchange Arca

Neuberger Berman Disrupters ETF

Themes · Neuberger Berman · Inception 2022-04-06 · SEC filings

$41.05−0.60 (−1.44%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Apr 7, 2022.
Intraday session: down, 58 prints from 41.64 to 41.05. Range 40.89 to 41.48. Use the arrow keys to read each point.$41.20$41.4010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$182M
1Y return
+14.3%
Yield · Last 12 months
Data unavailable
Holdings
32
Volume · 30D
0M sh
NAV per share
$41.23
52W range
low $29.42high $42.86

The ETF.net NBDS Grade

C

52/ 100

Rank 14 of 31 in Disruptive Innovation⁠

Confidence Medium

Six-pillar profile for NBDS. Scores out of 100: Cost 55, Risk 36, Mission not scored, Tradability 72, Holdings 43, Durability 46. Strongest: Tradability (72). Weakest: Risk (36). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 52 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 55
    Category rank14/31 · top 45%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 36
    Category rank24/31 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 72
    Category rank6/31 · top 19%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 43
    Category rank21/31 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 46
    Category rank20/31 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on NBDS

ETF.net Research

CMost disruption funds hand the job to a rulebook. NBDS hands it to Neuberger Berman's analysts: roughly 30 hand-picked companies whose technologies or services may reshape their markets, priced at the category's going rate.

Stated mandate

The Fund targets companies offering differentiated solutions, technologies, or services that may create or reshape markets, using internal research and analysis to identify such businesses.

Why people hold it

  1. 01Human stock-picking, not a screen. Managers use internal research to hunt companies with differentiated solutions, technologies or services that may create or reshape markets.
  2. 02Concentrated by design: about 30 names, so a winner actually moves the needle instead of getting diluted inside a sprawling innovation basket.
  3. 03Active management at index-fund pricing for this corner: the 0.65% expense ratio sits right at the median for disruptive-innovation ETFs.
  4. 04Holds up well against a crowded field, landing in the upper half of its disruptive-innovation peer group on our overall read.

Worth knowing

  1. 01Thinly traded. Shares change hands lightly, which can mean wider gaps between buy and sell prices than the big names in the theme.
  2. 02Cheaper index routes to similar ground exist, including KOMP at 0.20% and XT at 0.46%.
  3. 03A 30-stock portfolio of high-growth disruptors concentrates risk, and the fund only launched in 2022, so the track record is short.

NBDS Holdings

As of Sep 21, 2026, 5:19 PM
Asset class
Stocks
Holdings
32
Top-10 weight
47%
Largest holding
NVDA7.6%

Sectors

  • Technology52.7%
  • Health Care16.7%
  • Industrials8.0%
  • Consumer Discr.6.9%
  • Financials6.0%
  • Communication5.7%
  • Utilities4.0%
  • Cons. Staples0.0%
  • Real Estate0.0%
  • Materials0.0%
  • Energy0.0%

Geography

  • United States86.44%
  • Netherlands4.19%
  • Canada3.39%
  • Sweden2.86%
  • United Kingdom1.72%
  • Israel1.41%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANVIDIA CORP COMMON STOCK7.61%60,250$13M828
002AMDADVANCED MICRO DEVICES COMMON STOCK5.88%18,487$10M618
003—DEFINIUM THERAPEUTICS INC COMMON STOCK4.93%223,710$9M1
004SNOWSNOWFLAKE INC COMMON STOCK4.86%25,722$9M321
005PTGXPROTAGONIST THERAPEUTICS INC COMMON STOCK4.38%53,907$8M137
006HOODROBINHOOD MARKETS INC A COMMON STOCK4.18%61,317$7M331
007ASMLASML HOLDING NV NY REG SHS NY REG SHRS4.05%4,238$7M199
008GKOSGLAUKOS CORP COMMON STOCK3.81%40,873$7M123
009CEGCONSTELLATION ENERGY COMMON STOCK3.63%25,069$6M353
010MPWRMONOLITHIC POWER SYSTEMS INC COMMON STOCK3.53%5,104$6M419
011SHOP.TOSHOPIFY INC CLASS A COMMON STOCK3.30%45,211$6M122
012NOWSERVICENOW INC COMMON STOCK3.04%39,431$5M426
013ISRGINTUITIVE SURGICAL INC COMMON STOCK2.80%12,509$5M406
014RKLBROCKET LAB CORP COMMON STOCK2.79%75,908$5M237
015AVGOBROADCOM INC COMMON STOCK2.78%13,725$5M732

Showing 1–15 of 33 holdings

NBDS Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

NBDS$11,429
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. NBDS $11,429. SPY $11,723. Use the arrow keys to read each point.$7,778$9,917$12,057Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NBDS. Periods over one year show the average yearly return.
PeriodNBDS
Year to date+17.5%
1 month+1.1%
3 months−1.5%
1 year+14.3%
3 years+24.9%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NBDS
YearReturn barNBDS
2026 YTD+17.5%
2025+19.6%
2024+18.0%
2023+38.6%
2022−24.7%

History from Apr 7, 2022

NBDS in the news

ETF.net Research hasn’t filed on NBDS yet — coverage lands here as it’s written.

NBDS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.13 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 19, 2025 $0.13. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 19, 2025Dec 24, 2025$0.13

NBDS Risk

How much the fund’s monthly returns vary, scaled to a year.
23.9%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.71
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−29.8%
53 months · trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.52
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

NBDS Cost

Expense ratio0.65%
  • The middle half of Disruptive Innovation funds
  • Median 0.65%

11 of the 31 Disruptive Innovation funds charge less.

NBDS costs $65.00 a year on $10,000. The median Disruptive Innovation fund costs $65.00.