NBOS Fees and Costs — Neuberger Berman Option Strategy ETF
Data updated: 2026-07-27
The net expense ratio is 0.57%: a 0.50% management fee plus 0.08% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $138K in broker commissions, 0.0304% of average net assets, and portfolio turnover was 112%.
NBOS Fees and Expenses
Annual operating expenses and sales charges of NBOS. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.08% |
| Gross expense ratio | 0.59% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.57% |
| 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 |
NBOS Costs Over Time
On $10,000 invested in NBOS, assuming 5% a year before costs, total costs come to $379 over 5 years, cutting the return by 0.63% 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 0.57%) | $60 | $188 | $327 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $379 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
NBOS 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): 0.0304%
- Total broker commissions: $138K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 112%
- Securities lending: none during the year
NBOS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $135K | 97.68% |
| J.P. Morgan Securities LLC | $3K | 2.06% |
| Jefferies LLC | $368 | 0.27% |
NBOS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.3B | 82.30% |
| Morgan Stanley & Co. LLC | $69.9M | 4.60% |
| BMO Capital Markets Corp. | $67.5M | 4.45% |
| Nomura Securities International, Inc. | $50.4M | 3.32% |
| J.P. Morgan Securities LLC | $40.0M | 2.63% |
| Goldman Sachs & Co. LLC | $24.0M | 1.58% |
| BofA Securities, Inc. | $10.1M | 0.67% |
| BNY Capital Markets, LLC | $7.0M | 0.46% |
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.