NBDS vs TCAL
Neuberger Berman Disrupters ETF vs T. Rowe Price Capital Appreciation Premium Income ETF
Which is better, NBDS or TCAL?
NBDS has been ahead.
TCAL has a lower expense ratio. NBDS led over 1Y and the full window. TCAL is less concentrated, with 17.0% of the fund in its ten largest positions against 46.6%.
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 | NBDS | TCAL |
|---|---|---|
| Expense Ratio | 0.40% | 0.34%Best |
| AUM | $183M | $311M |
| Dividend Yield | 0.33% | 11.81% |
| Holdings | 32 | 488 |
| YTD Return | +11.35%Best | +2.64% |
| 1Y Return | +9.23%Best | +1.67% |
| 3Y Return (annualized) | +21.50% | - |
| Volatility (annualized) | 25.5% | 7.9%Best |
| Max Drawdown | -24.0% | -7.2%Best |
| $10,000 over 1.5 years | $14,300Best | $10,443 |
| Top 10 Weight | 46.6% | 17.0%Best |
| Fund Family | Neuberger Berman | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 6, 2022 | Mar 26, 2025 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Oct 14, 2026 (1.5 years).
NBDS vs TCAL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
NBDS vs TCAL Performance
Neuberger Berman Disrupters ETF (NBDS) is an ETF from Neuberger Berman and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is an ETF from T.Rowe Price. Over the past year NBDS returned +9.23% while TCAL returned +1.67%. Year to date, NBDS is up 11.35% versus a gain of 2.64% for TCAL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBDS has been the more volatile fund, with annualized monthly volatility of 25.5% compared with 7.9% for TCAL. 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 -24.0% for NBDS and -7.2% for TCAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.07. They move largely independently of each other.
Fees and Cost Over Time
NBDS charges 0.40% per year while TCAL charges 0.34%. On a $10,000 position that is $40 vs $34 annually, a gap of $6 per year that compounds over a long holding period. On income, NBDS currently yields 0.33% against 11.81% for TCAL.
Holdings Overlap
15.6% of NBDS's money is in holdings TCAL also owns. 4.1% of TCAL's money is in holdings NBDS also owns.
NBDS and TCAL share little of their money.
3 positions in common, counted across the 32 positions we hold weights for in NBDS and 103 in TCAL, against full books of 32 and 488.
What only one of them owns
Our book lists 95 positions for TCAL that do not appear in our book for NBDS (91.0% of the fund), and 25 for NBDS that do not appear in TCAL (68.1%).
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.
You are not choosing between two funds in isolation.
Whichever of NBDS and TCAL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NBDS or TCAL?
NBDS has an expense ratio of 0.40% while TCAL charges 0.34%. TCAL is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, NBDS or TCAL?
Over the past year NBDS returned +9.23% vs +1.67% for TCAL, so NBDS leads on 1-year performance. Over the longest common window we track (2 years), NBDS annualized +26.93% vs +2.93% for TCAL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBDS or TCAL?
NBDS has been the more volatile fund at 25.5% annualized versus 7.9% for TCAL. Worst drawdown: NBDS -24.0% vs TCAL -7.2%.
Should I hold both NBDS and TCAL?
NBDS and TCAL have a monthly-return correlation of -0.07, 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 NBDS and TCAL?
15.6% of NBDS's money is in holdings TCAL also owns. 4.1% of TCAL's is in holdings NBDS also owns. They hold 3 positions in common, counted across the 32 positions we hold weights for in NBDS and 103 in TCAL.
Which pays a higher dividend, NBDS or TCAL?
NBDS yields 0.33% while TCAL yields 11.81%, so TCAL currently pays the higher dividend yield.
Is TCAL better than NBDS?
TCAL has a lower expense ratio. NBDS led over 1Y and the full window. TCAL is less concentrated, with 17.0% of the fund in its ten largest positions against 46.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.