NBDS Fees and Costs — Neuberger Berman Disrupters ETF
Data updated: 2026-07-27
The net expense ratio is 0.40% (0.65% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 34%.
NBDS Fees and Expenses
Annual operating expenses and sales charges of NBDS. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
NBDS Costs Over Time
On $10,000 invested in NBDS, assuming 5% a year before costs, total costs come to $258 over 5 years, cutting the return by 0.43% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $141 | $258 |
| Value after costs | $10,457 | $11,435 | $12,505 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
NBDS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0079%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $14.2M
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
NBDS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $482 | 28.24% |
| BofA Securities, Inc. | $322 | 18.84% |
| Goldman Sachs & Co. LLC | $318 | 18.61% |
| UBS Securities LLC | $144 | 8.42% |
| Barclays Capital Inc. | $113 | 6.60% |
| BNY Capital Markets, LLC | $79 | 4.60% |
| Jefferies LLC | $70 | 4.12% |
| Citigroup Global Markets Inc. | $64 | 3.73% |
| Morgan Stanley & Co. LLC | $58 | 3.42% |
| Stifel, Nicolaus & Company, Incorporated | $58 | 3.41% |
NBDS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $9.6M | 67.40% |
| State Street Bank and Trust Company | $3.0M | 21.12% |
| Virtu Americas LLC | $1.3M | 8.85% |
| National Financial Services LLC | $373K | 2.63% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.