Skip to content
etf.net

NBET

GradeDNew York Stock Exchange Arca

Neuberger Berman Energy Transition & Infrastructure ETF

Themes · Neuberger Berman · Inception 2022-04-06

$40.67+0.27 (+0.68%)

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

History starts Apr 7, 2022.
Intraday session: up, 58 prints from 40.40 to 40.67. Range 40.48 to 40.93. Use the arrow keys to read each point.$40.50$40.60$40.80$40.9010 AM12 PM2 PM4 PM
Expense ratio
2.10%
Fund size
$50M
1Y return
+28.3%
Yield · Last 12 months
2.39%
Holdings
30
Volume · 30D
0M sh
NAV per share
$41.02
52W range
low $31.34high $43.14

The ETF.net NBET Grade

D

29/ 100

Rank 29 of 34 in Infrastructure⁠

Confidence Medium

Six-pillar profile for NBET. Scores out of 100: Cost 0, Risk 63, Mission not scored, Tradability 50, Holdings 27, Durability 54. Strongest: Risk (63). Weakest: Cost (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 29 of 100 sits in the D 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.
    FScore 0
    Category rank34/34 · bottom quartile

  • 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.
    BScore 63
    Category rank11/34 · top 32%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 50
    Category rank18/34 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 27
    Category rank28/32 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 54
    Category rank18/34 · mid-pack

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

Our read on NBET

ETF.net Research

DA concentrated global take on the energy transition build-out: grids, utilities, industrial materials, telecom networks and the real assets underneath them, roughly 30 names deep. A distinctive mandate carrying a premium price tag.

Stated mandate

The Fund seeks exposure to equity securities of energy transition and infrastructure companies. Its mandate covers infrastructure assets and services across energy, utilities, industrial materials, real estate facilities, and telecommunications networks.

Why people hold it

  1. 01The mandate is wider than the label suggests: energy, utilities, industrial materials, real estate facilities and telecom networks all count as transition infrastructure.
  2. 02Roughly 30 holdings spanning US and international markets, so individual names carry real weight instead of being diluted inside a sprawling index basket.
  3. 03Trading since 2022, so there is a multi-year live record to inspect rather than a backtest, and the fund distributes quarterly.

Worth knowing

  1. 01Cost is the headline trade-off: 2.10% a year, versus index rivals in the same lane like IGF at 0.37% and IFRA at 0.30%.
  2. 02A small fund that trades thinly, so bid-ask spreads and order size matter more here than with the category's heavyweights.
  3. 03About 30 stocks tied to a single policy-sensitive theme: swings in that theme land harder than they would in a broad infrastructure basket.

NBET Holdings

As of Sep 21, 2026, 5:20 PM
Asset class
Stocks
Holdings
30
Top-10 weight
60%
Largest holding
TRGP9.5%

Sectors

  • Energy90.9%
  • Utilities7.3%
  • Industrials1.8%

Geography

  • United States97.46%
  • Canada2.54%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TRGPTARGA RESOURCES CORP COMMON STOCK9.52%16,565$5M340
002ETENERGY TRANSFER LP MLP7.87%189,188$4M52
003EPDENTERPRISE PRODUCTS PARTNERS MLP7.64%99,871$4M44
004DTMDT MIDSTREAM INC COMMON STOCK5.97%24,266$3M202
005LNGCHENIERE ENERGY INC COMMON STOCK5.88%11,129$3M270
006WMBWILLIAMS COS INC COMMON STOCK5.11%36,057$3M361
007COPCONOCOPHILLIPS COMMON STOCK4.72%18,197$2M425
008CVXCHEVRON CORP COMMON STOCK4.64%11,265$2M468
009WESWESTERN MIDSTREAM PARTNERS L MLP4.37%46,954$2M37
010SUNCSUNOCOCORP LLC COMMON STOCK3.90%24,370$2M52
011CWENCLEARWAY ENERGY INC C COMMON STOCK3.82%62,984$2M147
012AMANTERO MIDSTREAM CORP COMMON STOCK3.68%88,200$2M197
013ARANTERO RESOURCES CORP COMMON STOCK3.20%46,690$2M147
014XOMEXXONMOBIL HOLDINGS CORP COMMON STOCK3.09%9,605$2M501
015OXYOCCIDENTAL PETROLEUM CORP COMMON STOCK3.00%25,909$2M314

Showing 1–15 of 32 holdings

NBET Performance

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

NBET$12,831
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. NBET $12,831. SPY $11,723. Use the arrow keys to read each point.$9,215$11,504$13,793Sep 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 NBET. Periods over one year show the average yearly return.
PeriodNBET
Year to date+26.1%
1 month−2.7%
3 months+4.6%
1 year+28.3%
3 years+23.8%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 NBET
YearReturn barNBET
2026 YTD+26.1%
2025+5.9%
2024+30.4%
2023+7.5%
2022−6.1%

History from Apr 7, 2022

NBET in the news

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

NBET 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.
2.39%Last 12 months
Payout per share
$0.97Last 12 months
Last payment
$0.30 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2022–2026

One bar per payment. 9 payments from 2022 to 2026 YTD. Dec 16, 2022 $0.20; Dec 19, 2023 $0.31; Dec 18, 2024 $0.77; Mar 21, 2025 $0.21; Jun 23, 2025 $0.27; Sep 23, 2025 $0.28; Dec 18, 2025 $0.13; Mar 20, 2026 $0.27; Jun 23, 2026 $0.30. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 26, 2026$0.30
Mar 20, 2026Mar 25, 2026$0.27
Dec 18, 2025Dec 23, 2025$0.13
Sep 23, 2025Sep 26, 2025$0.28
Jun 23, 2025Jun 26, 2025$0.27
Mar 21, 2025Mar 26, 2025$0.21
Dec 18, 2024Dec 23, 2024$0.77
Dec 19, 2023Data unavailable$0.31
Dec 16, 2022Data unavailable$0.20

NBET Risk

How much the fund’s monthly returns vary, scaled to a year.
18.2%
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.
1.00
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.
−18.7%
53 months · trough Oct 2023
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.
0.58
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.

NBET Cost

Expense ratio2.10%
  • The middle half of Infrastructure funds
  • Median 0.55%

Every other Infrastructure fund charges less.

NBET costs $210.00 a year on $10,000. The median Infrastructure fund costs $55.00.