NCPB vs. NUSC

Last updated Jun 4, 2026

NCPB (Nuveen Core Plus Bond ETF) and NUSC (Nuveen ESG Small-Cap ETF) are both exchange-traded funds - NCPB is a Intermediate Core-Plus Bond fund actively managed by Nuveen, while NUSC is a Small Cap Growth Equities fund tracking the MSCI TIAA ESG USA Small Cap. NCPB is actively managed, while NUSC is passively managed. Over the past year, NCPB returned 6.20% vs 27.41% for NUSC. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.30% expense ratio.

Performance

NCPB vs. NUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Core Plus Bond ETF (NCPB) and Nuveen ESG Small-Cap ETF (NUSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCPB achieves a 0.47% return, which is significantly lower than NUSC's 12.88% return.

NCPB

• 1D: -0.20%
• 1M: 0.41%
• YTD: 0.47%
• 6M: 0.53%
• 1Y: 6.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NUSC

• 1D: -0.57%
• 1M: 3.77%
• YTD: 12.88%
• 6M: 12.74%
• 1Y: 27.41%
• 3Y*: 13.27%
• 5Y*: 4.68%
• 10Y*: —

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

NCPB vs. NUSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NCPB Nuveen Core Plus Bond ETF	0.47%	7.69%	3.55%
NUSC Nuveen ESG Small-Cap ETF	12.88%	7.72%	5.44%

Correlation

The correlation between NCPB and NUSC is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.33

Return for Risk

NCPB vs. NUSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NCPB

NCPB Risk / Return Rank: 49
NCPB Sharpe Ratio Rank: 52
NCPB Sortino Ratio Rank: 55
NCPB Omega Ratio Rank: 53
NCPB Calmar Ratio Rank: 44
NCPB Martin Ratio Rank: 43

NUSC

NUSC Risk / Return Rank: 50
NUSC Sharpe Ratio Rank: 46
NUSC Sortino Ratio Rank: 48
NUSC Omega Ratio Rank: 42
NUSC Calmar Ratio Rank: 55
NUSC Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NCPB vs. NUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Core Plus Bond ETF (NCPB) and Nuveen ESG Small-Cap ETF (NUSC). 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.

	NCPB	NUSC	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.61	+0.14
Sortino ratio: Return per unit of downside risk	2.61	2.38	+0.24
Omega ratio: Gain probability vs. loss probability	1.32	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.16	2.72	-0.56
Martin ratio: Return relative to average drawdown	6.87	9.81	-2.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NCPB vs. NUSC - Sharpe Ratio Comparison

The current NCPB Sharpe Ratio is 1.76, which is comparable to the NUSC Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of NCPB and NUSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NCPB	NUSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.61	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.44	+0.76

Drawdowns

NCPB vs. NUSC - Drawdown Comparison

The maximum NCPB drawdown since its inception was -3.59%, smaller than the maximum NUSC drawdown of -41.49%. Use the drawdown chart below to compare losses from any high point for NCPB and NUSC.

Drawdown Indicators

	NCPB	NUSC	Difference
Max Drawdown Largest peak-to-trough decline	-3.59%	-41.49%	+37.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-10.10%	+7.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.85%	—
Current Drawdown Current decline from peak	-1.37%	-0.57%	-0.80%
Average Drawdown Average peak-to-trough decline	-0.92%	-8.21%	+7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	2.80%	-1.90%

Volatility

NCPB vs. NUSC - Volatility Comparison

The current volatility for Nuveen Core Plus Bond ETF (NCPB) is 1.25%, while Nuveen ESG Small-Cap ETF (NUSC) has a volatility of 4.50%. This indicates that NCPB experiences smaller price fluctuations and is considered to be less risky than NUSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCPB	NUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	4.50%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	12.17%	-9.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.55%	17.11%	-13.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.34%	21.15%	-16.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.34%	22.36%	-18.02%

NCPB vs. NUSC - Expense Ratio Comparison

Both NCPB and NUSC have an expense ratio of 0.30%.

Dividends

NCPB vs. NUSC - Dividend Comparison

NCPB's dividend yield for the trailing twelve months is around 5.22%, more than NUSC's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCPB Nuveen Core Plus Bond ETF	5.22%	5.21%	5.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUSC Nuveen ESG Small-Cap ETF	0.93%	1.05%	1.15%	1.11%	1.16%	7.06%	0.52%	0.90%	3.95%	0.94%

Frequently Asked Questions

Can I hold both NCPB and NUSC in my portfolio?

NCPB and NUSC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NCPB or NUSC?

NUSC has higher volatility (4.50%) compared to NCPB (1.25%). In terms of maximum drawdown, NCPB dropped -3.59% vs NUSC's -41.49%.

Which ETF is better, NCPB or NUSC?

On 1-year performance, NUSC leads with 27.41% vs 6.20% for NCPB. Both ETFs have the same 0.30% expense ratio. On volatility, NCPB has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NCPB or NUSC?

Over the 1-year period, NUSC has performed better with a 27.41% return vs 6.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NCPB or NUSC?

NCPB and NUSC have the same expense ratio: 0.30% per year.

Which ETF pays a higher dividend yield, NCPB or NUSC?

NCPB has the higher dividend yield at 5.22%, compared with 0.93% for NUSC.

What is the main difference between NCPB and NUSC?

NCPB is categorized as Intermediate Core-Plus Bond, while NUSC is Small Cap Growth Equities.

Which has better risk-adjusted returns?

NCPB currently has the higher Sharpe Ratio (1.76 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.