Neuberger Berman Core Equity ETF

Neuberger Berman Core Equity ETF (NBCR) is an actively managed fund holding about 200 large US company stocks. Its goal is to beat the Russell 1000 Index with less risk, while keeping its sector weights close to that index's. Its net expense ratio of 0.29% is well above the 0.09% average of similar funds. Its 9.2% one-year return through October 27, 2026, trailed all eight funds it was compared with.

• Over the year to Oct 27, 2026, NBCR returned +9.2%, 9th of 9 among similar funds.
• Its worst full calendar year was 2025 (+18.7%); its best was 2025 (+18.7%).
• The deepest fall in its price history was 18.2% (Feb 19, 2025 to Apr 8, 2025), recovered by Jun 24, 2025.

As of Aug 31, 2026, the fund held 202 securities; the ten largest made up 35.47% of assets.

By sector

• Over the three months to Aug 31, 2026, investors withdrew a net $46.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -1.16%, +0.73%, +1.90%.

NBCR does not track an index. Its portfolio managers pick stocks from large US companies. The prospectus defines these as companies within the market-value range of the Russell 1000 Index at the time of purchase. The aim is to beat that index with less risk by choosing stocks well. Neuberger Berman's research analysts rate stocks within each industry. They use company visits, management interviews, models of earnings and cash flow, and price targets. The managers then hold what they see as the most attractive names in each industry.

The fund aims to be sector neutral. That means its weights in technology, financials, health care and other sectors stay close to the Russell 1000's. So results depend mostly on which stocks it picks within each sector. As of August 31, 2026, it held 202 stocks. The 10 largest made up 35.5% of assets, led by NVIDIA (7.4%), Apple (6.5%) and Microsoft (5.9%).

Managers sell a stock when they believe it no longer looks attractive. The prospectus reports 44% portfolio turnover. At least 80% of net assets must stay in stocks or in funds that hold stocks. The fund is non-diversified, so it can hold larger stakes in a few companies. Managers weigh ESG (environmental, social and governance) factors they consider financially material, but it is not a sustainable or impact fund. It held no derivatives as of August 31, 2026.

• NBCR charges 0.29% a year, versus an average of 0.09% for the similar funds below (8th of 9, cheapest first).
• Of that, 0.39% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.23% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $603 over 10 years (assuming a 5% annual return).

It holds about 200 large US stocks with sector weights kept close to the Russell 1000, so it can serve as a broad US stock position, though it costs more than index funds.

NBCR launched on August 1, 2024, so it has no record from the 2008, 2020 or 2022 market drops. That gives little evidence of how it holds up in a long bear market. Its deepest fall was 18.2%, from February 19 to April 8, 2025. It regained that peak by June 24, 2025, about 2.5 months later. Its only full calendar year, 2025, returned 18.7%. Its beta of 0.92 means it moved a little less than the market over the year to October 27, 2026. Even so, anyone selling shares in a slump would likely face losses close to the broad market's. Income is small: the trailing yield was 0.41%, paid once a year. In the SEC's standard example, costs on $10,000 come to $603 over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.