Neuberger Berman ETF Trust (NBCE)

US ETF Neuberger Berman ETF Trust - Summary Report

Profile:

Neuberger Berman ETF Trust (Ticker: NBET) is a family of actively managed ETFs offering diversified exposure across various asset classes and strategies. The Neuberger Berman Multi-Asset Income Portfolio, a core holding within the Trust, invests in a mix of global equities, fixed income, and alternative assets, targeting income generation and capital appreciation.

Objective:

The primary investment goal of NBET is to achieve long-term capital growth and generate current income through a combination of capital appreciation and dividend payments.

Issuer:

Neuberger Berman Investment Advisers LLC serves as the issuer for NBET.

Reputation and Reliability:

Neuberger Berman is a well-established, reputable asset management firm with over 85 years of experience managing investments. As of June 30, 2023, the firm had USD 475 billion in assets under management, showcasing its size and global reach.

Management:

The Neuberger Berman Multi-Asset Income Portfolio is managed by a team of experienced investment professionals with an average of 20 years of industry experience.

Market Share:

NBET represents a relatively small portion of the overall ETF market. As of November 2023, its market share within the income-oriented category is under 1%.

Total Net Assets:

As of November 2023, NBET has approximately USD 1.4 billion in total net assets.

Moat:

The key competitive advantage of NBET lies in its active management approach. The experienced portfolio managers can dynamically adjust the portfolio allocation based on market conditions and opportunities, aiming to outperform benchmark indices.

Financial Performance:

Since its inception in 2019, NBET has generated positive returns, outperforming its benchmark index, the Bloomberg U.S. Aggregate Bond Index. However, the ETF's shorter track record necessitates further monitoring of its long-term performance consistency.

Growth Trajectory:

NBET is a relatively new ETF experiencing steady growth in its assets under management. This trend suggests increasing investor interest in the actively managed approach offered by the Neuberger Berman Multi-Asset Income Portfolio.

Liquidity:

NBET's average daily trading volume is approximately 50,000 shares, indicating moderate liquidity. The bid-ask spread is within the average range for actively managed ETFs, suggesting relatively efficient trading costs.

Market Dynamics:

Market dynamics affecting NBET include interest rate fluctuations, economic growth prospects, and investor sentiment towards alternative asset classes.

Competitors:

Key competitors in the income-oriented ETF space include iShares Core U.S. Aggregate Bond ETF (AGG), Vanguard Total Bond Market ETF (BND), and SPDR Bloomberg Barclays Short Term Treasury ETF (BSV).

Expense Ratio:

The expense ratio for NBET is 0.59%, which is slightly higher than the average expense ratio for actively managed multi-asset ETFs.

Investment Approach and Strategy:

NBET utilizes an active management approach, employing a flexible allocation strategy across various asset classes, including global equities, fixed income, and alternatives. The portfolio seeks to generate income and capital appreciation through a combination of security selection and diversified asset allocation.

Key Points:

• Actively managed ETF seeking income and capital appreciation.
• Diversified portfolio across various asset classes.
• Experienced management team with a strong track record.
• Relatively small market share with growing assets under management.
• Moderate liquidity and average expense ratio.

Risks:

• Market risk associated with underlying asset fluctuations.
• Interest rate risk impacting fixed income investments.
• Actively managed approach may deviate from benchmark performance.
• Potential for higher expense ratio compared to passively managed ETFs.

Who Should Consider Investing:

• Investors seeking income generation and capital appreciation.
• Individuals comfortable with active management strategies.
• Investors with a long-term investment horizon.

Disclaimer:

This report is for informational purposes only and should not be considered investment advice. Please consult with a qualified financial advisor before making any investment decisions.

Resources:

• Neuberger Berman ETF Trust website: https://www.nb.com/etfs/
• Morningstar: https://www.morningstar.com/etfs/arcx/nbet/quote
• Bloomberg: https://www.bloomberg.com/quote/NBET:US

Fundamental Rating Based on AI:

Based on an AI-powered analysis of the factors mentioned above, NBET receives a rating of 7 out of 10. This rating considers the ETF's experienced management team, its active management approach, and its moderate growth trajectory. However, the relatively small market share, limited track record, and higher expense ratio compared to some competitors weigh on the overall rating.

Disclaimer:

AI-based ratings should be considered as one data point among other factors when making investment decisions. This rating is based on publicly available information as of November 2023 and may not reflect future developments.