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NBFCNeuberger Flexible Credit Income ETF

Get income1y track recordRanked #1,107 of 1,622 in this goal

Seeks long-term capital appreciation through credit instruments.

By Neuberger Berman · Launched 2024

Annual Cost

0.40%

#2,058 of 5,562 · average

Fund Size

$75M

#3,200 of 5,562 · mid-size

Dividend YieldGoal

7.29%

Track Record

1 year

#3,638 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,795+7.9%

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

Classification

How Beacon categorizes this fund

Asset class

Fixed income

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 17.5% of fundwell diversified

State Street Global Advisors
5.5%
Symphony CLO Ltd
1.9%
Ballyrock Ltd
1.9%
Wellington Management CLO
1.9%
AGL CLO Ltd.
1.9%
Bausch & Lomb Corporation
1.2%
CHARLES SCHWAB CORP
0.8%
AB Bsl CLO 1 Ltd
0.8%
OCP CLO Ltd
0.8%
CITCO FUNDING LLC
0.8%

Asset allocation

Bonds
92.0%
Cash
6.2%
Preferred
1.6%
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
19.9%
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%

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks long-term capital appreciation through credit instruments.
Strategy
Invests primarily in a diverse range of credit instruments, including corporate and sovereign bonds, mortgage-backed securities, and loans. The Fund may invest across the credit spectrum, including high-yield and investment-grade securities, and may also include derivatives for hedging or investment purposes.
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

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

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

Why we flagged this: strategy=option_income + option_income_strategy

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 2026-06-20