NUAG vs. NPFI

Last updated Jun 5, 2026

NUAG (Nuveen Enhanced Yield U.S. Aggregate Bond ETF) and NPFI (Nuveen Preferred And Income ETF) are both exchange-traded funds - NUAG is a Intermediate Core Bond fund tracking the ICE BofA Enhanced Yield US Broad Bond, while NPFI is a Preferred Stock/Convertible Bonds fund actively managed by Nuveen. NUAG is passively managed, while NPFI is actively managed. Over the past year, NUAG returned 5.51% vs 7.77% for NPFI. At a 0.44 correlation, their price movements are largely independent. NUAG charges 0.19%/yr vs 0.55%/yr for NPFI.

Performance

NUAG vs. NPFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) and Nuveen Preferred And Income ETF (NPFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUAG achieves a 0.67% return, which is significantly lower than NPFI's 1.68% return.

NUAG

• 1D: 0.17%
• 1M: 0.39%
• YTD: 0.67%
• 6M: 0.70%
• 1Y: 5.51%
• 3Y*: 4.97%
• 5Y*: 0.51%
• 10Y*: —

NPFI

• 1D: 0.06%
• 1M: 0.43%
• YTD: 1.68%
• 6M: 2.17%
• 1Y: 7.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUAG vs. NPFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF	0.67%	7.37%	2.71%
NPFI Nuveen Preferred And Income ETF	1.68%	9.21%	6.56%

Correlation

The correlation between NUAG and NPFI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.44

Return for Risk

NUAG vs. NPFI — Risk / Return Rank

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

NUAG

NUAG Risk / Return Rank: 45
NUAG Sharpe Ratio Rank: 45
NUAG Sortino Ratio Rank: 48
NUAG Omega Ratio Rank: 44
NUAG Calmar Ratio Rank: 45
NUAG Martin Ratio Rank: 42

NPFI

NPFI Risk / Return Rank: 76
NPFI Sharpe Ratio Rank: 83
NPFI Sortino Ratio Rank: 90
NPFI Omega Ratio Rank: 93
NPFI Calmar Ratio Rank: 50
NPFI Martin Ratio Rank: 66

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.

NUAG vs. NPFI - 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 Nuveen Preferred And Income ETF (NPFI). 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.

	NUAG	NPFI	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.68	-1.12
Sortino ratio: Return per unit of downside risk	2.32	4.12	-1.80
Omega ratio: Gain probability vs. loss probability	1.28	1.63	-0.35
Calmar ratio: Return relative to maximum drawdown	2.18	2.45	-0.28
Martin ratio: Return relative to average drawdown	6.58	11.83	-5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUAG vs. NPFI - Sharpe Ratio Comparison

The current NUAG Sharpe Ratio is 1.56, which is lower than the NPFI Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of NUAG and NPFI, 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

	NUAG	NPFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	2.68	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	2.66	-2.34

Drawdowns

NUAG vs. NPFI - Drawdown Comparison

The maximum NUAG drawdown since its inception was -19.79%, which is greater than NPFI's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for NUAG and NPFI.

Drawdown Indicators

	NUAG	NPFI	Difference
Max Drawdown Largest peak-to-trough decline	-19.79%	-3.18%	-16.61%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-3.18%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-5.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.19%	—	—
Current Drawdown Current decline from peak	-1.06%	-0.06%	-1.00%
Average Drawdown Average peak-to-trough decline	-4.95%	-0.34%	-4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.66%	+0.18%

Volatility

NUAG vs. NPFI - Volatility Comparison

Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) has a higher volatility of 1.15% compared to Nuveen Preferred And Income ETF (NPFI) at 0.75%. This indicates that NUAG's price experiences larger fluctuations and is considered to be riskier than NPFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUAG	NPFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.75%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	2.53%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	2.91%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	2.95%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	2.95%	+2.53%

NUAG vs. NPFI - Expense Ratio Comparison

NUAG has a 0.19% expense ratio, which is lower than NPFI's 0.55% expense ratio.

Dividends

NUAG vs. NPFI - Dividend Comparison

NUAG's dividend yield for the trailing twelve months is around 4.49%, less than NPFI's 6.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
NPFI Nuveen Preferred And Income ETF	6.40%	6.33%	5.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF	4.49%	4.43%	4.44%	3.95%	3.60%	2.27%	2.93%	3.54%	3.79%	3.38%	0.48%

Frequently Asked Questions

Can I hold both NUAG and NPFI in my portfolio?

NUAG and NPFI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUAG or NPFI?

NUAG has higher volatility (1.15%) compared to NPFI (0.75%). In terms of maximum drawdown, NUAG dropped -19.79% vs NPFI's -3.18%.

Which ETF is better, NUAG or NPFI?

On 1-year performance, NPFI leads with 7.77% vs 5.51% for NUAG. On fees, NUAG is cheaper at 0.19% per year. On volatility, NPFI has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUAG or NPFI?

Over the 1-year period, NPFI has performed better with a 7.77% return vs 5.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUAG or NPFI?

NUAG is cheaper with a 0.19% expense ratio, compared with 0.55% for NPFI.

Which ETF pays a higher dividend yield, NUAG or NPFI?

NPFI has the higher dividend yield at 6.40%, compared with 4.49% for NUAG.

What is the main difference between NUAG and NPFI?

NUAG is categorized as Intermediate Core Bond, while NPFI is Preferred Stock/Convertible Bonds. Their fees differ too: 0.19% for NUAG and 0.55% for NPFI.

Which has better risk-adjusted returns?

NPFI currently has the higher Sharpe Ratio (2.68 vs 1.56), 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.