NSCR vs. NCLO

Last updated Jun 4, 2026

NSCR (Nuveen Sustainable Core ETF) and NCLO (Nuveen AA-BBB CLO ETF) are both exchange-traded funds - NSCR is a Large Cap Blend Equities fund actively managed by Nuveen, while NCLO is a CLO fund tracking the JP Morgan CLO A Index. NSCR is actively managed, while NCLO is passively managed. Over the past year, NSCR returned 7.29% vs 5.90% for NCLO. At a 0.17 correlation, their price movements are largely independent. NSCR charges 0.45%/yr vs 0.26%/yr for NCLO.

Performance

NSCR vs. NCLO - Performance Comparison

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

Returns By Period

In the year-to-date period, NSCR achieves a -6.24% return, which is significantly lower than NCLO's 1.96% return.

NSCR

• 1D: 0.00%
• 1M: 0.00%
• YTD: -6.24%
• 6M: -6.10%
• 1Y: 7.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NCLO

• 1D: -0.16%
• 1M: 0.61%
• YTD: 1.96%
• 6M: 2.57%
• 1Y: 5.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NSCR vs. NCLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NSCR Nuveen Sustainable Core ETF	-6.24%	13.32%	-4.14%
NCLO Nuveen AA-BBB CLO ETF	1.96%	6.28%	0.35%

Correlation

The correlation between NSCR and NCLO is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.17

Return for Risk

NSCR vs. NCLO — Risk / Return Rank

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

NSCR

NSCR Risk / Return Rank: 18
NSCR Sharpe Ratio Rank: 19
NSCR Sortino Ratio Rank: 18
NSCR Omega Ratio Rank: 20
NSCR Calmar Ratio Rank: 17
NSCR Martin Ratio Rank: 18

NCLO

NCLO Risk / Return Rank: 54
NCLO Sharpe Ratio Rank: 46
NCLO Sortino Ratio Rank: 41
NCLO Omega Ratio Rank: 77
NCLO Calmar Ratio Rank: 39
NCLO Martin Ratio Rank: 69

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.

NSCR vs. NCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Sustainable Core ETF (NSCR) 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.

	NSCR	NCLO	Difference
Sharpe ratio Return per unit of total volatility	0.62	1.63	-1.01
Sortino ratio Return per unit of downside risk	0.93	2.08	-1.15
Omega ratio Gain probability vs. loss probability	1.12	1.46	-0.34
Calmar ratio Return relative to maximum drawdown	0.62	1.94	-1.32
Martin ratio Return relative to average drawdown	1.70	12.85	-11.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NSCR vs. NCLO - Sharpe Ratio Comparison

The current NSCR Sharpe Ratio is 0.62, which is lower than the NCLO Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of NSCR and NCLO, 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

	NSCR	NCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	1.63	-1.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.59	-1.06

Drawdowns

NSCR vs. NCLO - Drawdown Comparison

The maximum NSCR drawdown since its inception was -20.75%, which is greater than NCLO's maximum drawdown of -3.05%. Use the drawdown chart below to compare losses from any high point for NSCR and NCLO.

Drawdown Indicators

	NSCR	NCLO	Difference
Max Drawdown Largest peak-to-trough decline	-20.75%	-3.05%	-17.70%
Max Drawdown (1Y) Largest decline over 1 year	-11.81%	-3.05%	-8.76%
Current Drawdown Current decline from peak	-7.98%	-0.35%	-7.63%
Average Drawdown Average peak-to-trough decline	-3.33%	-0.20%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	0.46%	+3.83%

Volatility

NSCR vs. NCLO - Volatility Comparison

The current volatility for Nuveen Sustainable Core ETF (NSCR) is 0.00%, while Nuveen AA-BBB CLO ETF (NCLO) has a volatility of 1.14%. This indicates that NSCR experiences smaller price fluctuations and is considered to be less risky than NCLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NSCR	NCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	1.14%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	8.25%	3.46%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	3.64%	+8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	3.72%	+12.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.97%	3.72%	+12.25%

NSCR vs. NCLO - Expense Ratio Comparison

NSCR has a 0.45% expense ratio, which is higher than NCLO's 0.26% expense ratio.

Dividends

NSCR vs. NCLO - Dividend Comparison

NSCR's dividend yield for the trailing twelve months is around 16.34%, more than NCLO's 5.78% yield.

Position	TTM	2025	2024
NCLO Nuveen AA-BBB CLO ETF	5.78%	6.09%	0.35%
NSCR Nuveen Sustainable Core ETF	16.34%	1.92%	1.57%

Frequently Asked Questions

Can I hold both NSCR and NCLO in my portfolio?

NSCR and NCLO 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 is riskier, NSCR or NCLO?

NCLO has higher volatility (1.14%) compared to NSCR (0.00%). In terms of maximum drawdown, NSCR dropped -20.75% vs NCLO's -3.05%.

Which ETF is better, NSCR or NCLO?

On 1-year performance, NSCR leads with 7.29% vs 5.90% for NCLO. On fees, NCLO is cheaper at 0.26% per year. On volatility, NSCR has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NSCR or NCLO?

Over the 1-year period, NSCR has performed better with a 7.29% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NSCR or NCLO?

NCLO is cheaper with a 0.26% expense ratio, compared with 0.45% for NSCR.

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

NSCR has the higher dividend yield at 16.34%, compared with 5.78% for NCLO.

What is the main difference between NSCR and NCLO?

NSCR is categorized as Large Cap Blend Equities, while NCLO is CLO. Their fees differ too: 0.45% for NSCR and 0.26% for NCLO.

Which has better risk-adjusted returns?

NCLO currently has the higher Sharpe Ratio (1.63 vs 0.62), 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.