NBTR Fees and Costs — Neuberger Berman Total Return Bond ETF
Data updated: 2026-09-28
The net expense ratio is 0.38%: a 0.37% management fee plus 0.57% other expenses, less a 0.56% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0021% of average net assets, and portfolio turnover was 139%.
NBTR Fees and Expenses
Annual operating expenses and sales charges of NBTR. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | — |
| Other expenses | 0.57% |
| Gross expense ratio | 0.94% |
| Fee waiver | −0.56% |
| Net expense ratio | 0.38% |
| 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 |
NBTR Costs Over Time
On $10,000 invested in NBTR, assuming 5% a year before costs, total costs come to $242 over 5 years, cutting the return by 0.40% 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 0.38%) | $40 | $125 | $219 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $132 | $242 |
| Value after costs | $10,460 | $11,444 | $12,521 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
NBTR 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): 0.0021%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $239.4M
- Portfolio turnover (prospectus): 139%
- Securities lending: none during the year
NBTR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $1K | 100.00% |
NBTR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $50.0M | 26.10% |
| BofA Securities, Inc. | $33.3M | 17.36% |
| J.P. Morgan Securities LLC | $17.7M | 9.24% |
| Goldman Sachs & Co. LLC | $17.1M | 8.92% |
| Citigroup Global Markets Inc. | $15.4M | 8.02% |
| Morgan Stanley & Co. LLC | $15.1M | 7.88% |
| Barclays Capital Inc. | $13.4M | 7.01% |
| BMO Capital Markets Corp. | $11.0M | 5.73% |
| BNY Capital Markets, LLC | $9.4M | 4.88% |
| Deutsche Bank Securities Inc. | $9.3M | 4.86% |
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.