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Launched

Neuberger Berman Small-Mid Cap ETF

NBSMNYSE ArcaNeuberger BermanD

$29.13+0.40 (+1.39%)

At close: Nov 2, 2026, 4:00 PM ET

D39/ 100

Rank 33 of 47 in US Active Small/Mid-Cap

D39/100Rank 33 of 47inUS Active Small/Mid-Cap
Intraday session: up, 78 prints from 28.73 to 29.13. Range 28.98 to 29.34. Use the arrow keys to read each point.28.8028.9029.0029.2029.3010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$113M
1Y total return
+16.4%
Yield · Last 12 months
0.35%
Holdings
68
Avg volume · 30D
15.7K sh
52W range
low $24.31high $29.61
Launched

The ETF.net NBSM Grade

D

Score 39 out of 100

Category
US Active Small/Mid-Cap⁠
Rank
33 of 47
Six-pillar profile for NBSM. Scores out of 100: Cost 22, Risk 37, Mission 94, Tradability 63, Holdings 51, Durability 54. Strongest: Mission (94). Weakest: Cost (22). Leans toward Mission.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F22 out of 100
    Rank 34 of 47

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A94 out of 100
    Rank 3 of 11

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D37 out of 100
    Rank 29 of 44

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 9 of 47

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C51 out of 100
    Rank 28 of 47

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C54 out of 100
    Rank 21 of 47

Our read on NBSM

ETF.net Research

In short

DOld-school stock picking in small- and mid-cap land: about 80 names chosen by bottom-up fundamental research hunting undervalued companies, measured against the Russell 2500 rather than copying it.

Stated mandate

To pursue its goal, the Fund normally invests 80% of net assets in small- and mid-capitalization securities. Managers use bottom-up fundamental analysis to identify undervalued companies and manage risk through broad issuer and industry diversification.

Why people hold it

  • Real conviction, not index cloning. Roughly 80 holdings against a benchmark that spans thousands, so each pick has to earn its seat.
  • The mandate is specific and the portfolio honors it: normally 80% of net assets in small- and mid-cap stocks, primarily US, with up to 10% allowed abroad.
  • Concentration with guardrails. Managers spread risk across issuers and industries instead of betting the fund on one corner of the market.
  • A value tilt where it still has room to work: undervalued smaller companies get less analyst coverage than mega caps, which is the case for paying an active manager.

Worth knowing

  • Active pricing. The 0.75% expense ratio sits above the typical active US equity ETF, and above FFSM (0.43%) and CGMM (0.51%), which measure against the same Russell 2500 benchmark.
  • Launched in 2024, so the record is short. There is not yet a long history across different market regimes to judge the process by.
  • Small and mid caps move harder in both directions than large caps, and this fund trades moderately rather than heavily, so limit orders are your friend.

NBSM Performance

Launched Mar 20, 2024

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

Not enough history yet.Not enough history yet.Not enough history yet.
NBSM$11,638
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. NBSM $11,638. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 NBSM. Periods over one year show the average yearly return.
PeriodNBSM
Year to date+15.4%
1 month+5.3%
3 months+2.3%
1 year+16.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 NBSM
YearReturn barNBSM
2026 YTD+15.4%
20250.0%
2024−0.4%

History from Mar 21, 2024

NBSM in the news

NBSM 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 Nov 2, 2026.
0.35%Last 12 months
Payout per share
$0.10Last 12 months
Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 18, 2024 $0.06; Dec 19, 2025 $0.10. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 19, 2025Dec 24, 2025$0.10
Dec 18, 2024Dec 23, 2024$0.06

$10,000 in NBSM 1 year ago paid $40.38 in dividends.

NBSM Risk

Risk pillarD37 out of 100Rank 29 of 44 in US Active Small/Mid-Cap
How much the fund’s monthly returns vary, scaled to a year.
15.1%
Annualised · 31 months to Oct 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.
0.09
vs 3-month T-bills · 31 months to Oct 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.
−25.2%
31 months · trough Apr 2025
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.
0.80
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.

FMP measures it over up to five years of monthly returns.

NBSM Cost

Compare NBSM and AVMC

Overpaying vs AVMC, cheapest in US Active Small/Mid-Cap

$10,733

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NBSM 0.75%

    $14,482

  • AVMC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • NBSM 0.75%
  • AVMC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NBSM $14,482AVMC $3,749

Year by year

YearNBSMAVMCOverpaying
10$1,336$328$1,008
20$5,078$1,281$3,797
30$14,482$3,749$10,733

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