NBTR vs SPAB: Grades, Fees and Holdings Compared

Neuberger Total Return Bond ETF

NBTRCNYSE Arca

State Street SPDR Portfolio Aggregate Bond ETF

SPABANYSE Arca

Overlap

No data

Expense ratio

SPAB −0.91pt a year

NBTR0.94%SPAB0.03%

Avg volume · 30D

SPAB 1703.3×the volume

NBTR1.83KSPAB3.11M

NBTR vs SPAB Performance

Oct 31, 2025 – Oct 30, 2026

−0.5%NBTR−0.2%SPAB

Expense ratio: NBTR 0.94%; SPAB 0.03%, better
Fund size: NBTR $59M; SPAB $10.4B
1Y total return: NBTR −0.5%; SPAB −0.2%, better
Yield (12M): NBTR 5.59%, better; SPAB 4.20%
Holdings: NBTR 503; SPAB 8697
Avg volume (30D): NBTR 1.83K sh; SPAB 3.11M sh, better
NAV per share: NBTR $48.11; SPAB $24.78
52W range

ETF.net Grade

Pillar letters and Scores for NBTR, SPAB, with each pillar’s weight
Pillar	NBTR	SPAB
Cost30% weight	F2	A97Higher
Mission25% weight	A100	A100
Risk15% weight	C47	C47
Tradability15% weight	F14	A90Higher
Holdings10% weight	B68	A76Higher
Durability5% weight	F22	A91Higher

Rank among US Aggregate Bond funds

How we build Categories ›

Same Category. NBTR and SPAB 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 ›

SPAB 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 5ABNDVanguard Total Bond Market ETFScore 85
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

SPABAState Street SPDR Portfolio Aggregate Bond ETF

In short

NBTR No data

SPAB A 2007-vintage core bond fund priced at 0.03%: roughly 8,500 US investment-grade bonds in one ticket, at the same rock-bottom fee the household names charge for the same index.

Stated mandate

NBTR No data

SPAB The fund seeks to track the price and yield performance of the Bloomberg U.S. Aggregate Bond Index before fees and expenses, providing broad exposure to U.S.-dollar-denominated investment-grade bonds.

Why people hold it

NBTR No data

SPAB 0.03% a year against a 0.36% median for its peer group, and the same ticket price as AGG, SCHZ and BBAG on the identical index.
Roughly 8,500 dollar-denominated investment-grade bonds in one line item, tracking the Bloomberg U.S. Aggregate Bond Index. Diversification you could not assemble bond by bond.ssga.com
Trades actively and has tracked its index closely, putting it among the stronger implementations in the core-bond group.
Running since 2007, now a multi-billion-dollar fund, and it pays monthly rather than quarterly.

Worth knowing

NBTR No data

SPAB Bond prices move opposite yields. When rates rise the index falls and the fund follows it down; a 0.03% fee cannot cushion that.
AGG, SCHZ and BBAG hold the same declared index at the same 0.03%. Picking among them comes down to spreads and platform, not the portfolio.
Investment grade and US dollar only by mandate: high yield and foreign-currency debt sit outside the remit.ssga.com

Full NBTR profile⁠

Full SPAB profile⁠

NBTR vs SPAB Holdings

How NBTR and SPAB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile87.8%
Asset classFixed Income100%

Sector

No Sector split for NBTR and SPAB.

Country, concentration and asset class

Country by domicile

Country weights in NBTR and SPAB, widest gap first
Country	More in NBTRMore in SPAB	NBTR	SPAB
United States	SPAB +10.4 points	83.8%	94.2%
Cayman Islands	NBTR +7.1 points	7.3%	0.2%
United Kingdom	NBTR +0.8 points	1.7%	0.9%
France	NBTR +0.7 points	0.8%	0.1%
Italy	NBTR +0.7 points	0.7%	0.0%
Canada	NBTR +0.5 points	1.7%	1.2%
Other countries (23)	NBTR +0.5 points	3.9%	3.4%

Concentration

Weight in the 10 largest Holdings

NBTR19.7%
SPAB6.7%

Securities held

NBTR501
SPAB8,631

Asset class

NBTR: Fixed Income
SPAB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. NBTR holds 501 securities, SPAB 8,631.

All 505 NBTR holdings⁠All 8,718 SPAB 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 SPAB Cost

Overpaying NBTR vs SPAB

$17,066

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

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

Amount$10,000

Years30 years

Cost over time

NBTR 0.94%
SPAB 0.03%
Overpaying

Year by year

Year	NBTR	SPAB	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%SPAB, cheaper

SPAB0.03%NBTR0.94%

0.00%1.04%

Middle half of US Aggregate Bond funds
Median 0.34%

SPAB 2nd cheapest of 114 funds

NBTR 112th cheapest of 114 funds

NBTR vs SPAB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): NBTR 5.59%, better; SPAB 4.20%
Payout (12M): NBTR $2.69; SPAB $1.04
Last payment: NBTR $0.21; SPAB $0.09
Ex-dividend: NBTR Oct 27, 2026; SPAB Oct 1, 2026
Paid on: NBTR Oct 30, 2026; SPAB Oct 6, 2026
Frequency: NBTR Monthly; SPAB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

NBTRMonthly · 22 paymentsAll NBTR payments⁠

SPABMonthly · 45 paymentsAll SPAB payments⁠

NBTR vs SPAB 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 2025SPAB 5.6%
Return per unit of riskSharpe ratio, 3 years: NBTR −0.07since Jan 2025SPAB 0.17
Worst fallMax drawdown, 5 years: NBTR −4.5%since Dec 2024SPAB −17.4%
Market sensitivityBeta, 5 years: NBTR 0.07SPAB 1.00; Market = 1

NBTR and SPAB in the news

All news⁠

Filings Digest
AllianceBernstein's AB US Research Advanced ETF began trading on Nasdaq Monday
Oct 27, 2026SPAB
Best ETFs
Best bond ETFs: LQD, HYG and TLT cost more than the funds beside them
Updated Oct 2, 2026SPAB

Popular comparisons

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Category

NBTR vs SPAB

In short

Stated mandate

Why people hold it

Worth knowing

How NBTR and SPAB 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

AllianceBernstein's AB US Research Advanced ETF began trading on Nasdaq Monday

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

How NBTR and SPAB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings