ETF Evaluator:
Neuberger Short Duration Income ETF ()
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(as of Aug 26)
Best Performing in Short-Term Bond Over the Last Year
| 6.6% | Overlay Shares Short Term Bond ETF (OVT) |
| 5.0% | AAM SLC Low Duration Income ETF (LODI) |
| 4.6% | SanJac Alpha Low Duration ETF (SJLD) |
| 4.5% | Performance Trust Short Term Bond ETF (STBF) |
| 4.4% | American Century® Short Dur Str Inc ETF (SDSI) |
Risk
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Risk
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ETF Details
Neuberger Short Duration Income ETF Overview
Neuberger Short Duration Income ETF (NBSD) is an actively managed Taxable Bond Short-Term Bond exchange-traded fund (ETF). Neuberger Berman launched the ETF in 2010.
The investment seeks the highest available current income consistent with liquidity and low risk to principal; total return is a secondary goal.
To pursue its goals, the fund invests at least 80% of its net assets in fixed and floating rate investment-grade bonds and other debt securities issued by domestic and foreign governments, corporate entities, and trusts. These may include mortgage- and asset-backed securities, collateralized debt obligations (“CDOs”), including collateralized loan obligations (“CLOs”), and credit risk transfer securities.
About Neuberger Short Duration Income ETF (NBSD)
There are 4 members of the management team with an average tenure of 8.69 years: David Brown (2021), Michael Foster (2010), Matthew McGinnis (2017) and Ashok Bhatia (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Govt/Credit 1-3 Yr TR USD index with a weighting of 100%. Neuberger Short Duration Income ETF has 1064 securities in its portfolio. The top 10 holdings constitute 59.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Neuberger Short Duration Income ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Neuberger Short Duration Income ETF has 8.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 2.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.6% (84.5% domestic bond, 8.2% foreign bond and 0.0% convertible bond). Neuberger Short Duration Income ETF has 4.9% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $3 billion average for the Short-Term Bond 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.
NBSD 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 Short Duration Income ETF expense ratio is below average compared to funds in the Short-Term Bond category. Neuberger Short Duration Income ETF has an expense ratio of 0.35%, which is 25% higher than its category average, making the fund expense ratio grade a D. 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 Short Duration Income ETF has a portfolio turnover rate of 49%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Short-Term Bond category.
Recently, in the month of July 2026, Neuberger Short Duration Income ETF returned 0.2%, which earned it a grade of A, as the Short-Term Bond category had an average return of -0.1%. 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 Short Duration Income ETF has a trailing yield of 4.76%, which is above the 4.54% category average.
The fund normally distributes its income monthly 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 Short Duration Income ETF Grades
Year to date, the ETF has returned 1.3%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 4.1% over the past year (grade of A), 5.8% over the past three years (grade of A) and 3.0% per year over the past five years (grade of A) and 2.6% per year over the past 10 years (grade of C).
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NBSD 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 |
|
| NBSD Return (NAV) | 0.2% | 0.5% | 4.1% | 5.8% | 3.0% | 2.6% |
| NBSD Return (Price) | 0.4% | 0.7% | 4.2% | 5.9% | 3.1% | 2.6% |
| NAV +/- Price Return | -0.196% | -0.109% | -0.099% | -0.074% | -0.043% | -0.022% |
| Short-Term Bond Avg | -0.1% | 0.3% | 3.6% | 5.2% | 2.3% | 2.5% |
| NBSD Grade (NAV) | A | A | A | A | A | C |
| +/- Category (NAV) | 0.3% | 0.2% | 0.6% | 0.6% | 0.7% | 0.1% |
| NBSD Tax-Cost Ratio | na | na | 1.9% | 2.1% | 1.9% | 1.5% |
NBSD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NBSD Return (NAV) | 1.3% | 6.3% | 6.7% | 6.4% | -4.8% | 1.1% | 3.8% | 4.2% | 1.3% | 0.9% | 0.8% |
| NBSD Return (Price) | 1.3% | 6.2% | 6.9% | 6.4% | -4.8% | 1.1% | 3.8% | 4.2% | 1.3% | 0.9% | 0.8% |
| NAV +/- Price Ret | 0.065% | -0.017% | 0.036% | 0.000% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Short-Term Bond Avg | 1.0% | 6.3% | 5.1% | 6.0% | -5.3% | -0.4% | 4.4% | 5.6% | 1.2% | 1.7% | 2.4% |
| NBSD Grade (NAV) | B | C | A | B | B | A | D | F | C | F | F |
| +/- Category | 0.3% | 0.0% | 1.6% | 0.4% | 0.5% | 1.6% | -0.5% | -1.3% | 0.1% | -0.8% | -1.6% |
| Risk Measures | |
| Beta: | 0.26 |
| R-Squared: | 78% |
| Standard Deviation: | 1.7% |
| Category Risk Index: | 0.72 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.14 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.8% |
| Total Assets: | $ 1,208 Mil |
| Share Class Assets: | $ 1,208 Mil |
| Turnover: | 49.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 16.1 years | |||
| Average Tenure: 8.7 years | |||
| Managers (Year): Foster Michael (2010), McGinnis Matthew (2017), Brown David (2021), Bhatia Ashok (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1064 |
| % in Top 10 Holdings: | 59.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 2.5% |
| Domestic Bond: | 84.5% |
| Foreign Bond: | 8.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Neuberger Berman |
| Phone Number: | 877-628-2583 |
| Website: | |
| Inception Date: | June 21, 2010 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.28% |
