NBDS vs SPY
Neuberger Berman Disrupters ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NBDS or SPY?
Each has led over a different period.
SPY has a lower expense ratio. NBDS led over 3Y, SPY over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 45.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NBDS | SPY |
|---|---|---|
| Expense Ratio | 0.40% | 0.09%Best |
| AUM | $181M | $804.7B |
| Dividend Yield | 0.35% | 0.98% |
| Holdings | 32 | 505 |
| YTD Return | +16.01%Best | +13.82% |
| 1Y Return | +13.11% | +16.96%Best |
| 3Y Return (annualized) | +24.45%Best | +22.97% |
| 5Y Return (annualized) | - | +13.73% |
| Volatility (annualized) | 23.6% | 15.1%Best |
| Max Drawdown | -29.8% | -19.9%Best |
| $10,000 over 4.5 years | $17,208 | $18,370Best |
| Top 10 Weight | 45.9% | 37.8%Best |
| Fund Family | Neuberger Berman | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 6, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.5 years row, are measured over the window both funds cover: Apr 7, 2022 to Sep 21, 2026 (4.5 years).
NBDS vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.5 years both funds cover.
NBDS vs SPY Performance
Neuberger Berman Disrupters ETF (NBDS) is an ETF from Neuberger Berman and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NBDS returned +13.11% while SPY returned +16.96%. Year to date, NBDS is up 16.01% versus a gain of 13.82% for SPY.
Over three years, NBDS compounded at +24.45% per year against +22.97% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBDS has been the more volatile fund, with annualized monthly volatility of 23.6% compared with 15.1% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -29.8% for NBDS and -19.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NBDS charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, NBDS currently yields 0.35% against 0.98% for SPY.
Holdings Overlap
49.6% of NBDS's money is in holdings SPY also owns. 18.6% of SPY's money is in holdings NBDS also owns.
The two portfolios partly overlap.
16 positions in common, counted across the 32 positions we hold weights for in NBDS and 504 in SPY, against full books of 32 and 505.
What only one of them owns
Our book lists 481 positions for SPY that do not appear in our book for NBDS (80.7% of the fund), and 12 for NBDS that do not appear in SPY (33.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in NBDS | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.65% | 8.01% | 0.36% |
| AMZNAmazon.Com Inc | 2.67% | 3.79% | 1.12% |
| AMDAdvanced Micro Devices Inc | 4.78% | 1.14% | 3.64% |
| AVGOBroadcom Inc | 2.85% | 2.66% | 0.19% |
| CEGConstellation Energy Corporation Com | 4.11% | 0.14% | 3.97% |
| HOODRobinhood Markets Inc - A | 3.71% | 0.12% | 3.59% |
| MPWRMonolithic Power Systems Inc | 3.52% | 0.09% | 3.43% |
| NOWServicenow, Inc | 3.05% | 0.22% | 2.83% |
| TSLATesla Inc | 1.53% | 1.52% | 0.01% |
| ISRGIntuitive Surgical Inc. | 2.63% | 0.20% | 2.43% |
49.6% of NBDS is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NBDS or SPY?
NBDS has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, NBDS or SPY?
Over the past year NBDS returned +13.11% vs +16.96% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBDS or SPY?
NBDS has been the more volatile fund at 23.6% annualized versus 15.1% for SPY. Worst drawdown: NBDS -29.8% vs SPY -19.9%.
Should I hold both NBDS and SPY?
NBDS and SPY have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NBDS and SPY?
49.6% of NBDS's money is in holdings SPY also owns. 18.6% of SPY's is in holdings NBDS also owns. They hold 16 positions in common, counted across the 32 positions we hold weights for in NBDS and 504 in SPY.
Which pays a higher dividend, NBDS or SPY?
NBDS yields 0.35% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than NBDS?
SPY has a lower expense ratio. NBDS led over 3Y, SPY over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 45.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.