NBET Fees and Costs — Neuberger Berman Energy Transition & Infrastructure ETF
Data updated: 2026-09-28
The net expense ratio is 0.65%: a 0.64% management fee plus 1.46% other expenses, less a 1.45% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0073% of average net assets, and portfolio turnover was 15%.
NBET Fees and Expenses
Annual operating expenses and sales charges of NBET. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | — |
| Other expenses | 1.46% |
| Gross expense ratio | 2.10% |
| Fee waiver | −1.45% |
| Net expense ratio | 0.65% |
| 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 | Yes |
NBET Costs Over Time
On $10,000 invested in NBET, assuming 5% a year before costs, total costs come to $414 over 5 years, cutting the return by 0.69% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $227 | $414 |
| Value after costs | $10,431 | $11,349 | $12,349 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
NBET Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0073%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $18.9M
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
NBET Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Deutsche Bank Securities Inc. | $525 | 38.49% |
| BofA Securities, Inc. | $267 | 19.53% |
| Stifel, Nicolaus & Company, Incorporated | $221 | 16.20% |
| National Financial Services LLC | $139 | 10.19% |
| Canaccord Genuity LLC | $95 | 6.94% |
| Barclays Capital Inc. | $83 | 6.07% |
| RBC Capital Markets, LLC | $14 | 1.04% |
| Scotia Capital (USA) Inc. | $7 | 0.53% |
| BMO Capital Markets Corp. | $7 | 0.51% |
| Citigroup Global Markets Inc. | $7 | 0.51% |
NBET Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $4.8M | 25.39% |
| Goldman Sachs & Co. LLC | $4.1M | 21.81% |
| State Street Bank and Trust Company | $4.0M | 20.96% |
| Mizuho Securities USA LLC | $3.3M | 17.29% |
| UBS Securities LLC | $1.9M | 10.24% |
| Jane Street Capital, LLC | $814K | 4.31% |
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.