NSCI vs. NCLO

Last updated Jun 7, 2026

NSCI (Nuveen Securitized Income ETF) and NCLO (Nuveen AA-BBB CLO ETF) are both exchange-traded funds - NSCI is a Mortgage Backed Securities fund actively managed by Nuveen, while NCLO is a CLO fund tracking the JP Morgan CLO A Index. NSCI is actively managed, while NCLO is passively managed. At a 0.10 correlation, their price movements are largely independent. NSCI charges 0.38%/yr vs 0.26%/yr for NCLO.

Performance

NSCI vs. NCLO - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with NSCI at 1.90% and NCLO at 1.90%.

NSCI

• 1D: 0.02%
• 1M: 0.37%
• YTD: 1.90%
• 6M: 2.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NCLO

• 1D: -0.10%
• 1M: 0.40%
• YTD: 1.90%
• 6M: 2.48%
• 1Y: 5.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NSCI vs. NCLO - Yearly Performance Comparison

	2026 (YTD)	2025
NSCI Nuveen Securitized Income ETF	1.90%	1.66%
NCLO Nuveen AA-BBB CLO ETF	1.90%	1.95%

Correlation

The correlation between NSCI and NCLO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	0.10

Return for Risk

NSCI vs. NCLO — Risk / Return Rank

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

NCLO

NCLO Risk / Return Rank: 57
NCLO Sharpe Ratio Rank: 48
NCLO Sortino Ratio Rank: 43
NCLO Omega Ratio Rank: 80
NCLO Calmar Ratio Rank: 40
NCLO Martin Ratio Rank: 71

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.

NSCI vs. NCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Securitized Income ETF (NSCI) and Nuveen AA-BBB CLO ETF (NCLO). 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.

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

Sharpe Ratios by Period

	NSCI	NCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.97	1.58	+2.40

Drawdowns

NSCI vs. NCLO - Drawdown Comparison

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

Drawdown Indicators

	NSCI	NCLO	Difference
Max Drawdown Largest peak-to-trough decline	-1.10%	-3.05%	+1.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.05%	—
Current Drawdown Current decline from peak	0.00%	-0.41%	+0.41%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.20%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.46%	—

Volatility

Volatility by Period

	NSCI	NCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.32%	3.64%	-2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.32%	3.71%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.32%	3.71%	-2.39%

NSCI vs. NCLO - Expense Ratio Comparison

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

Dividends

NSCI vs. NCLO - Dividend Comparison

NSCI's dividend yield for the trailing twelve months is around 3.04%, less than NCLO's 5.78% yield.

Position	TTM	2025	2024
NCLO Nuveen AA-BBB CLO ETF	5.78%	6.09%	0.35%
NSCI Nuveen Securitized Income ETF	3.04%	1.09%	0.00%

Frequently Asked Questions

Can I hold both NSCI and NCLO in my portfolio?

NSCI and NCLO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NSCI or NCLO?

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, NSCI or NCLO?

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

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

NCLO has the higher dividend yield at 5.78%, compared with 3.04% for NSCI.

What is the main difference between NSCI and NCLO?

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