ETF Evaluator:
Neuberger Disrupters ETF ()
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(as of Aug 26)
Best Performing in Technology Over the Last Year
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ETF Details
Neuberger Disrupters ETF Overview
Neuberger Disrupters ETF (NBDS) is an actively managed Sector Equity Technology exchange-traded fund (ETF). Neuberger Berman launched the ETF in 2022.
The investment seeks capital appreciation.
Under normal market conditions, the fund will invest at least 80% of its total assets in a concentrated portfolio of equity securities issued by U.S. and foreign (non-U.S.) companies, including companies located in emerging markets, of any market capitalization, that are pursuing disruptive growth agendas (“disrupters”). The Managers define “disrupters” as companies at various growth stages that, in the Portfolio Managers’ view, are generating or pursuing new opportunities by disrupting existing markets or creating new markets. The fund is non-diversified.
About Neuberger Disrupters ETF (NBDS)
There are 2 members of the management team with an average tenure of 4.32 years: Jason Tauber (2022) and Richard Bradt (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 1000 Growth TR USD index with a weighting of 100%. Neuberger Disrupters ETF has 31 securities in its portfolio. The top 10 holdings constitute 46.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Neuberger Disrupters ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Neuberger Disrupters ETF has 10.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 86.4% There is 10.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Neuberger Disrupters ETF has 2.8% of the portfolio in cash.
Assets Under Management
The fund has $142 million in total assets, which is below the $3 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NBDS Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Neuberger Disrupters ETF expense ratio is average compared to funds in the Technology category. Neuberger Disrupters ETF has an expense ratio of 0.40%, which is 26% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Neuberger Disrupters ETF has a portfolio turnover rate of 34%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 39% for the Technology category.
Recently, in the month of July 2026, Neuberger Disrupters ETF returned -8.6%, which earned it a grade of C, as the Technology category had an average return of -9.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Neuberger Disrupters ETF has a trailing yield of 0.00%, which is below the 0.45% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Neuberger Disrupters ETF Grades
Year to date, the ETF has returned 9.6%, 11.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 13.6% over the past year (grade of D) and 16.9% over the past three years (grade of D).
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NBDS Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NBDS Return (NAV) | -8.6% | 8.5% | 13.6% | 16.9% | na | na |
| NBDS Return (Price) | -8.6% | 8.5% | 13.7% | 17.0% | na | na |
| NAV +/- Price Return | 0.017% | -0.036% | -0.086% | -0.054% | na | na |
| Technology Avg | -9.8% | 7.3% | 33.6% | 22.3% | 10.5% | 19.0% |
| NBDS Grade (NAV) | C | B | D | D | na | na |
| +/- Category (NAV) | 1.3% | 1.2% | -20.0% | -5.4% | na | na |
| NBDS Tax-Cost Ratio | na | na | 0.1% | 0.0% | na | na |
NBDS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NBDS Return (NAV) | 9.6% | 19.4% | 18.3% | 38.5% | na | na | na | na | na | na | na |
| NBDS Return (Price) | 9.5% | 19.6% | 18.0% | 38.6% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.008% | 0.007% | -0.021% | 0.003% | na | na | na | na | na | na | na |
| Technology Avg | 21.3% | 23.2% | 19.9% | 43.8% | -35.8% | 16.7% | 53.3% | 37.8% | -3.2% | 33.7% | 15.0% |
| NBDS Grade (NAV) | D | D | C | D | na | na | na | na | na | na | na |
| +/- Category | -11.8% | -3.8% | -1.6% | -5.3% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.55 |
| R-Squared: | 67% |
| Standard Deviation: | 24.0% |
| Category Risk Index: | 0.90 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.96 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 143 Mil |
| Share Class Assets: | $ 143 Mil |
| Turnover: | 34.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.3 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Tauber Jason (2022), Bradt Richard (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 31 |
| % in Top 10 Holdings: | 46.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 10.8% |
Portfolio Allocation |
|
| Domestic Stock: | 86.4% |
| Foreign Stock: | 10.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Neuberger Berman |
| Phone Number: | 877-628-2583 |
| Website: | |
| Inception Date: | April 6, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.54% |
