NBTR vs SCHZ: Grades, Fees and Holdings Compared

Neuberger Total Return Bond ETF

NBTRCNYSE Arca

Schwab U.S. Aggregate Bond ETF

SCHZANYSE Arca

Overlap

No data

Expense ratio

SCHZ −0.91pt a year

NBTR0.94%SCHZ0.03%

Avg volume · 30D

SCHZ 1295.9×the volume

NBTR1.83KSCHZ2.37M

NBTR vs SCHZ Performance

Oct 31, 2025 – Oct 30, 2026

−0.5%NBTR−0.2%SCHZ

Expense ratio: NBTR 0.94%; SCHZ 0.03%, better
Fund size: NBTR $59M; SCHZ $10.8B
1Y total return: NBTR −0.5%; SCHZ −0.2%, better
Yield (12M): NBTR 5.59%, better; SCHZ 4.27%
Holdings: NBTR 503; SCHZ 12610
Avg volume (30D): NBTR 1.83K sh; SCHZ 2.37M sh, better
NAV per share: NBTR $48.11; SCHZ $22.54
52W range

ETF.net Grade

Pillar letters and Scores for NBTR, SCHZ, with each pillar’s weight
Pillar	NBTR	SCHZ
Cost30% weight	F2	A97Higher
Mission25% weight	A100	A100
Risk15% weight	C47	C47
Tradability15% weight	F14	A85Higher
Holdings10% weight	B68	A78Higher
Durability5% weight	F22	A88Higher

Rank among US Aggregate Bond funds

How we build Categories ›

Same Category. NBTR and SCHZ are both graded against the same 114 US Aggregate Bond funds, so their Grades compare head to head.

US Aggregate Bond⁠

Category · 114 funds

See all 114 ›

SCHZ ranks 2nd and NBTR 93rd of 114 funds in the US Aggregate Bond Category.

Rank 1AAGGiShares Core U.S. Aggregate Bond ETFScore 87
Rank 2AIUSBiShares Core Universal USD Bond ETFScore 86
Rank 2ASCHZSchwab U.S. Aggregate Bond ETFScore 86
Rank 2ASPABState Street SPDR Portfolio Aggregate Bond ETFScore 86
Rank 93CLDSFFirst Trust Low Duration Strategic Focus ETFScore 42
Rank 93CNBTRNeuberger Total Return Bond ETFScore 42
Rank 98CCRXPColumbia Core Plus Bond ETFScore 41

Our read on each fund

ETF.net Research

NBTRCNeuberger Total Return Bond ETF

SCHZASchwab U.S. Aggregate Bond ETF

In short

NBTR No data

SCHZ Schwab's core bond holding: the broad U.S. investment-grade bond market, over 10,000 issues deep, for 0.03% a year. That is the floor of a category whose median fee is more than ten times higher. Running since 2011, pays monthly.

Stated mandate

NBTR No data

SCHZ The fund seeks to track the total return of an index representing the broad U.S. investment-grade bond market.

Why people hold it

NBTR No data

SCHZ 0.03% a year sits at the category floor, against a cohort median of 0.36%. Only a short list of aggregate-bond funds matches it, including AGG, BND and SPAB.
Tracks the Bloomberg US Aggregate Bond Index tightly, one of the cleanest index implementations among the 187 funds in its peer group.schwabassetmanagement.com
One ticker, thousands of investment-grade U.S. bonds, income paid monthly. The plumbing of a bond portfolio without buying a single bond yourself.
Live since 2011 and now a multi-billion-dollar fund that trades actively, so trading costs on ordinary retail-sized orders tend to be minor.

Worth knowing

NBTR No data

SCHZ This is duration exposure, not a cash substitute. Interest-rate moves, not credit selection, drive most of the ride, and that is the weakest part of its risk profile.
Investment grade and U.S. only: no high-yield, no foreign bonds. Funds like BNDX cover the international side of the cohort.
The aggregate-bond aisle is commoditized. Against AGG, BND and SPAB at the same 0.03%, the differences come down to index variant and where you already custody, not fee.

Full NBTR profile⁠

Full SCHZ profile⁠

NBTR vs SCHZ Holdings

How NBTR and SCHZ differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile87.6%
Asset classFixed Income100%

Sector

No Sector split for NBTR and SCHZ.

Country, concentration and asset class

Country by domicile

Country weights in NBTR and SCHZ, widest gap first
Country	More in NBTRMore in SCHZ	NBTR	SCHZ
United States	SCHZ +10.5 points	83.8%	94.3%
Cayman Islands	NBTR +7.0 points	7.3%	0.3%
United Kingdom	NBTR +0.9 points	1.7%	0.8%
France	NBTR +0.7 points	0.8%	0.1%
Italy	NBTR +0.7 points	0.7%	0.0%
Canada	NBTR +0.6 points	1.7%	1.1%
Other countries (24)	NBTR +0.5 points	3.9%	3.4%

Concentration

Weight in the 10 largest Holdings

NBTR19.7%
SCHZ4.8%

Securities held

NBTR501
SCHZ12,608

Asset class

NBTR: Fixed Income
SCHZ: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. NBTR holds 501 securities, SCHZ 12,608.

All 505 NBTR holdings⁠All 12,611 SCHZ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NBTR vs SCHZ Cost

Overpaying NBTR vs SCHZ

$17,066

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

NBTR 0.94%
$17,704
SCHZ 0.03%
$638

Amount$10,000

Years30 years

Cost over time

NBTR 0.94%
SCHZ 0.03%
Overpaying

Year by year

Year	NBTR	SCHZ	Overpaying
10	$1,661	$55	$1,606
20	$6,260	$216	$6,044
30	$17,704	$638	$17,066

Expense ratio

0.94%NBTR
0.03%SCHZ, cheaper

SCHZ0.03%NBTR0.94%

0.00%1.04%

Middle half of US Aggregate Bond funds
Median 0.34%

SCHZ 2nd cheapest of 114 funds

NBTR 112th cheapest of 114 funds

NBTR vs SCHZ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): NBTR 5.59%, better; SCHZ 4.27%
Payout (12M): NBTR $2.69; SCHZ $0.96
Last payment: NBTR $0.21; SCHZ $0.08
Ex-dividend: NBTR Oct 27, 2026; SCHZ Oct 1, 2026
Paid on: NBTR Oct 30, 2026; SCHZ Oct 7, 2026
Frequency: NBTR Monthly; SCHZ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

NBTRMonthly · 22 paymentsAll NBTR payments⁠

SCHZMonthly · 45 paymentsAll SCHZ payments⁠

NBTR vs SCHZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: NBTR 4.0%since Jan 2025SCHZ 5.6%
Return per unit of riskSharpe ratio, 3 years: NBTR −0.07since Jan 2025SCHZ 0.17
Worst fallMax drawdown, 5 years: NBTR −4.5%since Dec 2024SCHZ −17.5%
Market sensitivityBeta, 5 years: NBTR 0.07SCHZ 0.99; Market = 1

NBTR and SCHZ in the news

All news⁠

Best ETFs
Best bond ETFs: LQD, HYG and TLT cost more than the funds beside them
Updated Oct 2, 2026SCHZ

Popular comparisons

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NBTR vs SCHZ

In short

Stated mandate

Why people hold it

Worth knowing

How NBTR and SCHZ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best bond ETFs: LQD, HYG and TLT cost more than the funds beside them

How NBTR and SCHZ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings