NCLO vs. NSCI

Last updated Aug 5, 2026

NCLO (Nuveen AA-BBB CLO ETF) and NSCI (Nuveen Securitized Income ETF) are both exchange-traded funds - NCLO is a CLO fund tracking the JP Morgan CLO A Index, while NSCI is a Mortgage Backed Securities fund actively managed by Nuveen. NCLO is passively managed, while NSCI is actively managed. Their 0.09 correlation means their historical movements had little consistent relationship. NCLO charges 0.26%/yr vs 0.38%/yr for NSCI.

Performance

NCLO vs. NSCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen AA-BBB CLO ETF (NCLO) and Nuveen Securitized Income ETF (NSCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCLO achieves a 3.32% return, which is significantly higher than NSCI's 2.68% return.

NCLO

• 1D: 0.24%
• 1M: 0.93%
• 6M: 2.45%
• YTD: 3.32%
• 1Y: 6.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.05%

NSCI

• 1D: 0.08%
• 1M: 0.34%
• 6M: 2.12%
• YTD: 2.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NCLO Nuveen AA-BBB CLO ETF	$805.70K	$960.01K	$1.09M
NSCI Nuveen Securitized Income ETF	$1.74M	$1.48M	$1.00M

NCLO vs. NSCI - Yearly Performance Comparison

	2026 (YTD)	2025
NCLO Nuveen AA-BBB CLO ETF	3.32%	1.93%
NSCI Nuveen Securitized Income ETF	2.68%	1.66%

Correlation

The correlation between NCLO and NSCI is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.09

Return for Risk

NCLO vs. NSCI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NCLO

NCLO Risk / Return Rank: 65
NCLO Sharpe Ratio Rank: 58
NCLO Sortino Ratio Rank: 51
NCLO Omega Ratio Rank: 88
NCLO Calmar Ratio Rank: 50
NCLO Martin Ratio Rank: 81

NSCI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NCLO vs. NSCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen AA-BBB CLO ETF (NCLO) and Nuveen Securitized Income ETF (NSCI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NCLO	NSCI	Difference
Sharpe ratio: Return per unit of total volatility	1.56	—	—
Sortino ratio: Return per unit of downside risk	2.03	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	2.03	—	—
Martin ratio: Return relative to average drawdown	11.91	—	—

Drawdowns

NCLO vs. NSCI - Drawdown Comparison

The maximum NCLO drawdown since its inception was -3.05%, which is greater than NSCI's maximum drawdown of -1.10%. Use the drawdown chart below to compare losses from any high point for NCLO and NSCI.

Drawdown Indicators

	NCLO	NSCI	Difference
Max Drawdown Largest peak-to-trough decline	-3.05%	-1.10%	-1.95%
Max Drawdown (1Y) Largest decline over 1 year	-3.05%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.16%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	—	—

Volatility

Volatility by Period

	NCLO	NSCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	1.29%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.76%	1.29%	+2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	1.29%	+2.47%

NCLO vs. NSCI - Expense Ratio Comparison

NCLO has a 0.26% expense ratio, which is lower than NSCI's 0.38% expense ratio.

Dividends

NCLO vs. NSCI - Dividend Comparison

NCLO's dividend yield for the trailing twelve months is around 5.73%, more than NSCI's 3.85% yield.

Position	TTM	2025	2024
NCLO Nuveen AA-BBB CLO ETF	5.73%	6.09%	0.35%
NSCI Nuveen Securitized Income ETF	3.85%	1.09%	0.00%

Frequently Asked Questions

Can I hold both NCLO and NSCI in my portfolio?

NCLO and NSCI have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NCLO or NSCI?

On fees, NCLO is cheaper at 0.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NCLO or NSCI?

NCLO is cheaper with a 0.26% expense ratio, compared with 0.38% for NSCI.

Which ETF pays a higher dividend yield, NCLO or NSCI?

NCLO has the higher dividend yield at 5.73%, compared with 3.85% for NSCI.

What is the main difference between NCLO and NSCI?

NCLO is categorized as CLO, while NSCI is Mortgage Backed Securities. Their fees differ too: 0.26% for NCLO and 0.38% for NSCI.