TMSFvsNBTRETF Comparison
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T. Rowe Price Multi-Sector Income ETF (TMSF) belongs to the Intl Aggregate Bonds segment. Neuberger Berman Total Return Bond ETF (NBTR) is part of the US Aggregate Bonds segment. TMSF's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, NBTR's top sector exposures are Sovereign, Industrials and Finance. TMSF is less expensive with a Total Expense Ratio (TER) of 0.37%, versus 0.94% for NBTR. TMSF is up 1.47% year-to-date (YTD) with +$34M in YTD flows. NBTR performs worse with -1.71% YTD performance, and +$6M in YTD flows. Run a side-by-side ETF comparison of TMSF and NBTR 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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TMSF vs NBTR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMSF NBTR | -0.52%-0.50% | -0.97%-2.08% | +1.47%-1.71% | n/a-1.62% | n/an/a | n/an/a |
| Flows | TMSF NBTR | +$1M+$2M | +$1M+$5M | +$34M+$6M | -+$9M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSF NBTR | +2.85%+4.00% | n/a+3.48% | n/an/a | n/an/a |
| Max drawdown | TMSF NBTR | -2.32%-3.27% | n/a-4.41% | n/an/a | n/an/a |
| Max drawdown duration | TMSF NBTR | 51d52d | n/a229d | n/an/a | n/an/a |
Trading data
TMSF | NBTR | |
Last sale 10/16/2026 at 1:30 PM | $48.98 | $48.03 |
| Previous close 10/15/2026 | $49.01 | $48.07 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
TMSF | NBTR | |
|---|---|---|
| Last price | $48.98 | $48.03 |
| 1D performance | -0.07% | -0.09% |
| AuM | $58.83 M | $57.55 M |
| E/R | 0.37% | 0.94% |
Characteristics
TMSF | NBTR | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Neuberger Berman |
| Benchmark | - | - |
| N° of holdings | 220 | 278 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | December 17, 2024 |
| ESG | No | No |
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Exposure
Countries
TMSF
USA
53.64%
Other
46.36%
NBTR
USA
57.91%
Other
42.09%
Sectors
TMSF
Sovereign
18.95%
Finance
15.53%
Other
65.52%
NBTR
Sovereign
23.09%
Industrials
12.22%
Finance
9.69%
Other
55.01%
Diversification
TMSF
Total weight of top 15 holdings out of 15
18.27%
NBTR
Total weight of top 15 holdings out of 15
20.04%
Top 15 holdings
Data as of August 31, 2026
TMSF
USA, TIPS 1.875% 15jan2036, USD (A-2036)
4.11%
USA, Notes 4% 31may2028, USD (BC-2028)
2.44%
US87283Q8832
2.11%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
1.46%
Mexico, Bonos 8.5% 28feb2030, MXN
1.36%
Colombia, 5.375% 21jan2029, USD
1.02%
USA, Bonds 5% 15may2046, USD
0.72%
Brazil, 6.625% 15mar2035, USD
0.71%
Ecuador, 8.75% 29jan2034, USD
0.69%
USA, Bonds 5% 15may2056, USD
0.68%
Paraguay, 2.739% 29jan2033, USD
0.64%
Carvana, 14% 1jun2031, USD
0.63%
Afreximbank, 6.25% 23jan2032, USD
0.62%
JP Morgan, 0.5% 15jun2027, USD (A, Conv.)
0.55%
Civitas Resources, 9.625% 15jun2033, USD
0.54%
NBTR
USA, Notes 3.5% 31jan2028, USD (U-2028)
2.73%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.99%
USA, Notes 4.125% 31jul2028, USD (AB-2028)
1.91%
USA, Notes 4.25% 15may2035, USD (C-2035)
1.77%
USA, Notes 3.625% 31dec2030, USD (AH-2030)
1.68%
USA, Notes 3.875% 31mar2028, USD (AZ-2028)
1.50%
USA, Notes 4.25% 30jun2033, USD (M-2033)
1.16%
USA, Bonds 5% 15may2056, USD
1.12%
USA, Notes 4.625% 15feb2035, USD (B-2035)
1.02%
USA, Notes 2.875% 15may2028, USD (C-2028)
0.95%
US13877LAS51
0.91%
Aimco CLO 2017-AA, FRN 20jan2038, USD (ABS, AR2)
0.91%
USA, Bonds 4% 15nov2052, USD
0.83%
US3132DWJR51
0.81%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.78%
Frequently asked questions about TMSF and NBTR
How have the TMSF and NBTR ETFs performed in 2026?
As of October 15, 2026, TMSF is up 1.47% year-to-date (YTD), while NBTR has lost -1.71%. That puts TMSF better performer ahead so far this year.
Which ETF is attracting more investor money: TMSF or NBTR?
Year-to-date, the TMSF ETF saw +$34M in flows, compared to +$6M for NBTR.
Which ETF is bigger: TMSF or NBTR?
As of October 15, 2026, TMSF holds $58.83 M in assets under management (AUM), while NBTR manages $57.55 M.
What sectors do the TMSF and NBTR ETFs invest in?
TMSF leans toward sectors like Sovereign and Finance. Meanwhile, NBTR focuses on Sovereign, Industrials and Finance.
What are the top holdings of the TMSF ETF and NBTR ETF?
TMSF top holdings include USA, TIPS 1.875% 15jan2036, USD (A-2036), USA, Notes 4% 31may2028, USD (BC-2028) and US87283Q8832. NBTR holds in its top three: USA, Notes 3.5% 31jan2028, USD (U-2028), USA, Notes 4.375% 15may2036, USD (C-2036) and USA, Notes 4.125% 31jul2028, USD (AB-2028).
Which ETF is more diversified: TMSF or NBTR?
TMSF holds 298 securities with 18.27% of its assets in the top 15. NBTR has 444 securities and a top 15 weight of 20.04%.
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