NBGX vs PGRO
Neuberger Berman Growth ETF vs Putnam Focused Large Cap Growth ETF
Which is better, NBGX or PGRO?
Nearly the same fund. NBGX costs less.
NBGX has a lower expense ratio. NBGX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. NBGX is less concentrated, with 53.4% of the fund in its ten largest positions against 58.8%.
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 | NBGX | PGRO |
|---|---|---|
| Expense Ratio | 0.44%Best | 0.49% |
| AUM | $15M | $222M |
| Dividend Yield | 0.38% | 0.02% |
| Holdings | 112 | 43 |
| YTD Return | +8.10%Best | +7.57% |
| 1Y Return | +9.56%Best | +8.94% |
| 3Y Return (annualized) | - | +22.58% |
| 5Y Return (annualized) | - | +11.60% |
| Volatility (annualized) | 15.8%Best | 17.8% |
| Max Drawdown | -21.6%Best | -23.3% |
| $10,000 over 1.8 years | $12,451Best | $12,277 |
| Top 10 Weight | 53.4%Best | 58.8% |
| Fund Family | Neuberger Berman ETF Trust | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Dec 18, 2024 | May 25, 2021 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 19, 2024 to Oct 14, 2026 (1.8 years).
NBGX vs PGRO 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 covers the 1.8 years both funds cover.
NBGX vs PGRO Performance
Neuberger Berman Growth ETF (NBGX) is an ETF from Neuberger Berman ETF Trust and Putnam Focused Large Cap Growth ETF (PGRO) is an ETF from Putnam Investments. Over the past year NBGX returned +9.56% while PGRO returned +8.94%. Year to date, NBGX is up 8.10% versus a gain of 7.57% for PGRO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PGRO has been the more volatile fund, with annualized monthly volatility of 17.8% compared with 15.8% for NBGX. 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 -21.6% for NBGX and -23.3% for PGRO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NBGX charges 0.44% per year while PGRO charges 0.49%. On a $10,000 position that is $44 vs $49 annually, a gap of $5 per year that compounds over a long holding period. On income, NBGX currently yields 0.38% against 0.02% for PGRO.
Holdings Overlap
64.2% of NBGX's money is in holdings PGRO also owns. 75.7% of PGRO's money is in holdings NBGX also owns.
Most of PGRO is already inside NBGX. Owning both mostly buys the same companies twice.
21 positions in common, counted across the 58 positions we hold weights for in NBGX and 40 in PGRO, against full books of 112 and 43.
What only one of them owns
Our book lists 19 positions for PGRO that do not appear in our book for NBGX (24.3% of the fund), and 33 for NBGX that do not appear in PGRO (26.6%).
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.
Top Shared Holdings
| Stock | Weight in NBGX | Weight in PGRO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 10.67% | 14.08% | 3.41% |
| GOOGLAlphabet Inc | 8.85% | 9.39% | 0.54% |
| AAPLApple, Inc | 4.43% | 6.38% | 1.95% |
| METAMeta Platforms Inc | 6.07% | 4.68% | 1.39% |
| MSFTMicrosoft Corp | 5.36% | 5.06% | 0.30% |
| AVGOBroadcom Inc | 4.94% | 4.75% | 0.19% |
| LLYEli Lilly & Co. | 2.92% | 3.90% | 0.98% |
| AMZNAmazon.Com Inc | 3.91% | 2.56% | 1.35% |
| MUMicron Technology, Inc. | 2.85% | 3.52% | 0.67% |
| MAMastercard Inc | 2.16% | 2.95% | 0.79% |
75.7% of PGRO is already inside NBGX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NBGX or PGRO?
NBGX has an expense ratio of 0.44% while PGRO charges 0.49%. NBGX is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, NBGX or PGRO?
Over the past year NBGX returned +9.56% vs +8.94% for PGRO, so NBGX leads on 1-year performance. Over the longest common window we track (2 years), NBGX annualized +12.95% vs +12.07% for PGRO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBGX or PGRO?
PGRO has been the more volatile fund at 17.8% annualized versus 15.8% for NBGX. Worst drawdown: NBGX -21.6% vs PGRO -23.3%.
Should I hold both NBGX and PGRO?
NBGX and PGRO have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between NBGX and PGRO?
75.7% of PGRO's money is in holdings NBGX also owns. 75.7% of PGRO's is in holdings NBGX also owns. They hold 21 positions in common, counted across the 58 positions we hold weights for in NBGX and 40 in PGRO.
Which pays a higher dividend, NBGX or PGRO?
NBGX yields 0.38% while PGRO yields 0.02%, so NBGX currently pays the higher dividend yield.
Is PGRO better than NBGX?
NBGX has a lower expense ratio. NBGX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. NBGX is less concentrated, with 53.4% of the fund in its ten largest positions against 58.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.