NBSMvsMSSMETF Comparison
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Neuberger Berman Small-Mid Cap ETF (NBSM) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Industrials, Information Technology and Financials. NBSM is less expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.9% for MSSM. NBSM is up 6.05% year-to-date (YTD) with +$14M in YTD flows. MSSM performs better with 13.7% YTD performance, and -$41M in YTD flows. Run a side-by-side ETF comparison of NBSM and MSSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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NBSM vs MSSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 05/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | NBSM MSSM | +5.29%+10.49% | +1.07%+6.56% | +6.05%+13.70% | +15.01%+40.39% | n/an/a | n/an/a |
| Flows | NBSM MSSM | +$1M-$1K | +$13M-$33M | +$14M-$41M | +$55M-$37M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NBSM MSSM | +16.36%+20.79% | +15.27%+17.55% | n/an/a | n/an/a |
| Max drawdown | NBSM MSSM | -10.22%-9.62% | -10.22%-9.62% | n/an/a | n/an/a |
| Max drawdown duration | NBSM MSSM | 79d46d | 79d46d | n/an/a | n/an/a |
Trading data
NBSM | MSSM | |
Last sale 5/1/2026 at 1:30 PM | $26.73 | $57.48 |
| Previous close 05/01/2026 | $26.98 | $57.33 |
| Consolidated volume 05/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 5/1/2026 at 1:30 PM
Live
Closed
NBSM | MSSM | |
|---|---|---|
| Last price | $26.73 | $57.48 |
| 1D performance | -0.91% | +0.27% |
| AuM | $225.73 M | $730.00 M |
| E/R | 0.75% | 0.9% |
Characteristics
NBSM | MSSM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Neuberger Berman | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 65 | 1902 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 21, 2024 | December 9, 2024 |
| ESG | Yes | No |
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Exposure
Countries
NBSM
USA
87.28%
Other
12.72%
MSSM
USA
79.68%
Other
20.32%
Sectors
NBSM
Industrials
30.64%
Information Techn.
17.52%
Financials
16.06%
Other
35.78%
MSSM
Industrials
19.29%
Information Techn.
17.22%
Financials
11.21%
Health Care
9.3%
Consumer Discreti.
7.76%
Other
35.23%
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Diversification
NBSM
Total weight of top 15 holdings out of 15
32.44%
MSSM
Total weight of top 15 holdings out of 15
10.47%
Top 15 holdings
Data as of March 31, 2026
NBSM
TIDEWATER
2.49%
KIRBY
2.47%
VALMONT INDUSTRS
2.39%
WHITE MTN INS
2.34%
LITTELFUSE
2.26%
ARCOSA INC
2.20%
BRADY NON VOTING
2.19%
UGI
2.11%
APTARGROUP
2.10%
CNX RESOURCES CORP
2.10%
COMMUNITY BANK SYSTEM
2.03%
GATES INDUSTRIAL CORPORATION PLC
2.00%
TORO
1.97%
MKS INSTRUMENTS
1.92%
STEWART INFO SVC
1.86%
MSSM
COMFORT SYSTEMS USA
1.13%
TECHNIPFMC PLC
1.07%
US04351P1012
1.03%
CIENA
0.86%
VIASAT
0.80%
BLOOM ENERGY CORP
0.73%
ORMAT TECHNOLOGIES
0.59%
PLEXUS
0.57%
RESIDEO TECHNOLOGIES
0.56%
REGAL REXNORD CORP
0.55%
FABRINET
0.54%
TEXAS CAPITAL
0.54%
ITT
0.52%
CALIX NETWORKS
0.51%
PRIMORIS SERVICES
0.48%
Frequently asked questions about NBSM and MSSM
How have the NBSM and MSSM ETFs performed in 2026?
As of May 1, 2026, NBSM is up 6.05% year-to-date (YTD), while MSSM has returned 13.7%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: NBSM or MSSM?
Year-to-date, the NBSM ETF saw +$14M in flows, compared to -$41M for MSSM.
Which ETF is more volatile: NBSM or MSSM?
Over the past year, NBSM had a volatility of 15.27%, while MSSM experienced 17.55%.
Which ETF is bigger: NBSM or MSSM?
As of May 1, 2026, NBSM holds $225.73 M in assets under management (AUM), while MSSM manages $730.00 M.
What sectors do the NBSM and MSSM ETFs invest in?
NBSM leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.
What are the top holdings of the NBSM ETF and MSSM ETF?
NBSM top holdings include TIDEWATER, KIRBY and VALMONT INDUSTRS. MSSM holds in its top three: COMFORT SYSTEMS USA, TECHNIPFMC PLC and US04351P1012.
Which ETF is more diversified: NBSM or MSSM?
NBSM holds 65 securities with 32.44% of its assets in the top 15. MSSM has 1949 securities and a top 15 weight of 10.47%.
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