NBSM vs VTI
Neuberger Berman Small-Mid Cap ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, NBSM or VTI?
Small Cap Growth against Large Cap Blend.
VTI has a lower expense ratio. VTI led over 1Y and the full window. NBSM is less concentrated, with 20.7% of the fund in its ten largest positions against 33.3%.
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 | NBSM | VTI |
|---|---|---|
| Expense Ratio | 0.65% | 0.03%Best |
| AUM | $108M | $690.1B |
| Dividend Yield | 0.35% | 1.03% |
| Holdings | 151 | 3,524 |
| YTD Return | +9.02% | +13.35%Best |
| 1Y Return | +8.94% | +15.92%Best |
| 3Y Return (annualized) | - | +23.41% |
| 5Y Return (annualized) | - | +12.83% |
| Volatility (annualized) | 14.8% | 12.2%Best |
| Max Drawdown | -25.2% | -19.3%Best |
| $10,000 over 2.5 years | $10,940 | $15,004Best |
| Top 10 Weight | 20.7%Best | 33.3% |
| Fund Family | Neuberger Berman | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Growth | Large Cap Blend |
| Inception | Mar 20, 2024 | May 24, 2001 |
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Mar 22, 2024 to Oct 2, 2026 (2.5 years).
NBSM vs VTI 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 2.5 years both funds cover.
NBSM vs VTI Performance
Neuberger Berman Small-Mid Cap ETF (NBSM) is an ETF from Neuberger Berman and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year NBSM returned +8.94% while VTI returned +15.92%. Year to date, NBSM is up 9.02% versus a gain of 13.35% for VTI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBSM has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 12.2% for VTI. 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 -25.2% for NBSM and -19.3% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NBSM charges 0.65% per year while VTI charges 0.03%. On a $10,000 position that is $65 vs $3 annually, a gap of $62 per year that compounds over a long holding period. On income, NBSM currently yields 0.35% against 1.03% for VTI.
Holdings Overlap
93.7% of NBSM's money is in holdings VTI also owns. 0.7% of VTI's money is in holdings NBSM also owns.
Most of NBSM is already inside VTI. Owning both mostly buys the same companies twice.
The two holdings books were reported 46 days apart, NBSM as of Sep 15, 2026 and VTI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
70 positions in common, counted across the 73 positions we hold weights for in NBSM and 3,463 in VTI, against full books of 151 and 3,524.
What only one of them owns
Our book lists 1,100 positions for VTI that do not appear in our book for NBSM (96.8% of the fund), and 1 for NBSM that do not appear in VTI (1.1%).
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 NBSM | Weight in VTI | Difference |
|---|---|---|---|
| KEXKirby Corp | 2.22% | 0.01% | 2.21% |
| TDWTidewater Inc | 2.21% | 0.00% | 2.21% |
| HAEHaemonetics Corp | 2.13% | 0.01% | 2.12% |
| MKSIMks Instruments Inc | 2.10% | 0.03% | 2.07% |
| RVTYRevvity Inc | 2.10% | 0.02% | 2.08% |
| GTESGates Industrial Corporation Plc Ordinary Shares | 2.06% | 0.01% | 2.05% |
| UMBFUmb Financial Corp. | 1.99% | 0.01% | 1.98% |
| HGTYHagerty, Inc. | 1.99% | 0.00% | 1.99% |
| UGIUgi Corp | 1.96% | 0.01% | 1.95% |
| CBUCommunity Bank System Inc | 1.93% | 0.00% | 1.93% |
93.7% of NBSM is already inside VTI.
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, NBSM or VTI?
NBSM has an expense ratio of 0.65% while VTI charges 0.03%. VTI is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, NBSM or VTI?
Over the past year NBSM returned +8.94% vs +15.92% for VTI, so VTI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBSM or VTI?
NBSM has been the more volatile fund at 14.8% annualized versus 12.2% for VTI. Worst drawdown: NBSM -25.2% vs VTI -19.3%.
Should I hold both NBSM and VTI?
NBSM and VTI have a monthly-return correlation of 0.69, 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 NBSM and VTI?
93.7% of NBSM's money is in holdings VTI also owns. 0.7% of VTI's is in holdings NBSM also owns. They hold 70 positions in common, counted across the 73 positions we hold weights for in NBSM and 3,463 in VTI.
Which pays a higher dividend, NBSM or VTI?
NBSM yields 0.35% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is VTI better than NBSM?
VTI has a lower expense ratio. VTI led over 1Y and the full window. NBSM is less concentrated, with 20.7% of the fund in its ten largest positions against 33.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.