NUAG vs. FALN
NUAG (Nuveen Enhanced Yield U.S. Aggregate Bond ETF) and FALN (iShares Fallen Angels USD Bond ETF) are both exchange-traded funds - NUAG is a Intermediate Core Bond fund tracking the ICE BofA Enhanced Yield US Broad Bond, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. Both are passively managed. Over the past 5 years, NUAG returned -0.09%/yr vs 3.39%/yr for FALN. Their 0.41 correlation means their historical movements had little consistent relationship. NUAG charges 0.19%/yr vs 0.25%/yr for FALN.
Performance
NUAG vs. FALN - Performance Comparison
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Returns By Period
In the year-to-date period, NUAG achieves a -0.46% return, which is significantly lower than FALN's 1.86% return.
NUAG
- 1D
- -0.29%
- 1M
- -1.36%
- 6M
- -0.83%
- YTD
- -0.46%
- 1Y
- 2.31%
- 3Y*
- 4.64%
- 5Y*
- -0.09%
- 10Y*
- —
- ALL TIME*
- 1.57%
FALN
- 1D
- -0.11%
- 1M
- -0.92%
- 6M
- 0.86%
- YTD
- 1.86%
- 1Y
- 6.24%
- 3Y*
- 8.53%
- 5Y*
- 3.39%
- 10Y*
- 6.24%
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.72M | $18.39M | $26.66M | |
| $252.59K | $179.69K | $216.95K |
NUAG vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF | -0.46% | 7.37% | 2.02% | 7.52% | -13.97% | -2.03% | 7.48% | 10.13% | -1.45% | 3.98% |
FALN iShares Fallen Angels USD Bond ETF | 1.86% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
Correlation
The correlation between NUAG and FALN is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.41 |
Over the past year, NUAG and FALN have become more correlated (0.69) than their long-term average of 0.41, meaning their price movements have been converging.
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Return for Risk
NUAG vs. FALN — Risk / Return Rank
NUAG
FALN
NUAG vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) and iShares Fallen Angels USD Bond ETF (FALN). 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.
| NUAG | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.26 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.57 | -0.40 |
| Martin ratioReturn relative to average drawdown | 3.04 | 6.42 | -3.38 |
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Drawdowns
NUAG vs. FALN - Drawdown Comparison
The maximum NUAG drawdown since its inception was -19.79%, smaller than the maximum FALN drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for NUAG and FALN.
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Drawdown Indicators
| NUAG | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.79% | -29.22% | +9.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -3.96% | +1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -5.92% | +1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -19.19% | -18.78% | -0.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.22% | — |
Current DrawdownCurrent decline from peak | -2.17% | -1.07% | -1.10% |
Average DrawdownAverage peak-to-trough decline | -4.89% | -3.28% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.97% | +0.01% |
Volatility
NUAG vs. FALN - Volatility Comparison
Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) and iShares Fallen Angels USD Bond ETF (FALN) have volatilities of 0.99% and 0.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUAG | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 0.99% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 3.79% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 4.59% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 7.33% | -1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 8.86% | -3.40% |
NUAG vs. FALN - Expense Ratio Comparison
NUAG has a 0.19% expense ratio, which is lower than FALN's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NUAG vs. FALN - Dividend Comparison
NUAG's dividend yield for the trailing twelve months is around 4.58%, less than FALN's 6.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 5.98% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% |
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF | 4.16% | 4.43% | 4.44% | 3.95% | 3.60% | 2.27% | 2.93% | 3.54% | 3.79% | 3.38% | 0.48% |
Frequently Asked Questions
NUAG and FALN have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FALN has higher volatility (0.99%) compared to NUAG (0.99%). In terms of maximum drawdown, NUAG dropped -19.79% vs FALN's -29.22%.
On 5-year performance, FALN leads with 3.39% vs -0.09% for NUAG. On fees, NUAG is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FALN has performed better with a 3.39% return vs -0.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NUAG is cheaper with a 0.19% expense ratio, compared with 0.25% for FALN.
FALN has the higher dividend yield at 5.98%, compared with 4.16% for NUAG.
NUAG is categorized as Intermediate Core Bond, while FALN is High Yield Bonds. NUAG tracks ICE BofA Enhanced Yield US Broad Bond, while FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.19% for NUAG and 0.25% for FALN.
FALN currently has the higher Sharpe Ratio (1.36 vs 0.84), 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.
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