Neuberger Berman Small-Mid Cap ETF
$27.89+0.11 (+0.40%)
- 0.75%
- $109M
- +13.1%
- 0.36%
- 0.1M sh
- $27.66
- low $24.31high $29.61
The ETF.net NBSM Grade
D
Score 39 out of 100
- 32 of 48
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.D26 out of 100Rank 33 of 48Mission
Whether the fund did what it promised, tested against its stated mandate.A91 out of 100Rank 3 of 11Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D30 out of 100Rank 36 of 44Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B69 out of 100Rank 7 of 48Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C43 out of 100Rank 36 of 48Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C51 out of 100Rank 23 of 48
Our read on NBSM
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.
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 Holdings
- Stocks
- 70
- 24%
- State Str Instl Invt Tr Treas Mmkt Fd Inst
Sectors
- Industrials24.9%
- Financials17.8%
- Health Care15.7%
- Technology15.7%
- Consumer Discretionary5.9%
- Energy5.7%
- Utilities4.9%
- Materials2.8%
- Real Estate2.6%
- Communication2.5%
- Consumer Staples1.5%
Geography
- United States90.83%
- Bermuda5.03%
- Canada2.66%
- Italy1.48%
NBSM Performance
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$11,310
Returns run to the Oct 12, 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.
| Period | NBSM |
|---|---|
| Year to date | +10.0% |
| 1 month | −1.6% |
| 3 months | −1.5% |
| 1 year | +13.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NBSM |
|---|---|---|
| 2026 YTD | +10.0% | |
| 2025 | 0.0% | |
| 2024 | −0.4% |
NBSM in the news
NBSM Dividends
- 0.36%
- $0.10
- $0.10 per share
- Irregular
Distribution history
NBSM Risk
- 15.1%
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.
- −0.04
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.
- −25.2%
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.
- 0.80
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
NBSM Cost
0.75%
NBSM0.75%
- The middle half of US Active Small/Mid-Cap funds
- Median 0.59%
31 of the 47 US Active Small/Mid-Cap funds charge less.
Other funds in US Active Small/Mid-Cap
- CHWSMHotchkis & Wiley SMID Cap Diversified Value FundExpense ratio 0.55%1 year return +18.9%
- DGRNJFundstrat Granny Shots US Small- & Mid-Cap ETFExpense ratio 0.75%1 year return —
- DRSMCRockefeller U.S. Small-Mid Cap ETFExpense ratio 0.75%1 year return +9.3%
- DMSSMMorgan Stanley Pathway Funds - Small-Mid Cap Equity ETFExpense ratio 0.89%1 year return +18.8%
- DEPMBHarbor Mid Cap Core ETF (EPMB)Expense ratio 0.88%1 year return +22.8%