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NBFCNeuberger Flexible Credit Income ETF

Get income2y track recordRanked #1,063 of 1,650 in this goal

Seeks high current income with a secondary objective of long-term capital appreciation.

By Neuberger Berman · Launched 2024

Annual Cost

0.40%

#2,023 of 5,861 · average

Fund Size

$74M

#3,261 of 5,861 · mid-size

Dividend YieldGoal

6.56%

Track Record

2 years

#3,546 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,542+5.4%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Fixed income

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 13.3% of fund✓ well diversified

State Street Global Advisors
2.5%
Ballyrock Ltd
1.9%
Symphony CLO Ltd
1.9%
AGL CLO Ltd.
1.8%
Bausch & Lomb Corporation
1.1%
Arini US CLO Limited
1.0%
CHARLES SCHWAB CORP
0.8%
Heritage Power LLC
0.8%
Wellington Management CLO
0.8%
RESILIENCE PARENT LLC
0.8%

Asset allocation

Bonds
95.2%
Cash
3.6%
Preferred
1.1%
Convertible
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
3.2%Low

Year-on-year price swings

Max drawdown
-4.0%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Bond profile

Duration

6.8 years

Avg maturity

10.3 years

Credit ratings

US Government
17.4%
AAA
0.7%
AA
0.2%
A
1.6%
BBB
16.8%
BB
42.7%
B
29.1%
Below B
7.0%
Other
1.9%

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks high current income with a secondary objective of long-term capital appreciation.
Strategy
Invests at least 80% of net assets in credit instruments, including corporate and sovereign bonds, securitized instruments, and loans, to achieve high current income and long-term capital appreciation. The Fund may invest in securities across the credit spectrum, including investment grade and below investment grade securities, and may hold cash and short-term securities.
Inception date
June 24, 2024
Fund family
Neuberger Berman

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04