NUBD vs. NCPB

Last updated Jun 5, 2026

NUBD (Nuveen ESG U.S. Aggregate Bond ETF) and NCPB (Nuveen Core Plus Bond ETF) are both exchange-traded funds - NUBD is a Intermediate Core Bond fund tracking the Bloomberg MSCI U.S. Aggregate ESG Select Index, while NCPB is a Intermediate Core-Plus Bond fund actively managed by Nuveen. NUBD is passively managed, while NCPB is actively managed. Over the past year, NUBD returned 4.51% vs 5.71% for NCPB. Their correlation of 0.91 suggests significant overlap in exposure. NUBD charges 0.15%/yr vs 0.30%/yr for NCPB.

Performance

NUBD vs. NCPB - Performance Comparison

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

Returns By Period

In the year-to-date period, NUBD achieves a 0.36% return, which is significantly lower than NCPB's 0.59% return.

NUBD

• 1D: 0.16%
• 1M: 0.30%
• YTD: 0.36%
• 6M: 0.43%
• 1Y: 4.51%
• 3Y*: 3.82%
• 5Y*: -0.03%
• 10Y*: —

NCPB

• 1D: 0.12%
• 1M: 0.33%
• YTD: 0.59%
• 6M: 0.84%
• 1Y: 5.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUBD vs. NCPB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUBD Nuveen ESG U.S. Aggregate Bond ETF	0.36%	6.75%	2.05%
NCPB Nuveen Core Plus Bond ETF	0.59%	7.69%	3.55%

Correlation

The correlation between NUBD and NCPB is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.91

The correlation between NUBD and NCPB has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

NUBD vs. NCPB — Risk / Return Rank

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

NUBD

NUBD Risk / Return Rank: 33
NUBD Sharpe Ratio Rank: 34
NUBD Sortino Ratio Rank: 34
NUBD Omega Ratio Rank: 32
NUBD Calmar Ratio Rank: 34
NUBD Martin Ratio Rank: 33

NCPB

NCPB Risk / Return Rank: 46
NCPB Sharpe Ratio Rank: 48
NCPB Sortino Ratio Rank: 50
NCPB Omega Ratio Rank: 48
NCPB Calmar Ratio Rank: 41
NCPB Martin Ratio Rank: 41

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.

NUBD vs. NCPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG U.S. Aggregate Bond ETF (NUBD) and Nuveen Core Plus Bond ETF (NCPB). 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.

	NUBD	NCPB	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.64	-0.43
Sortino ratio: Return per unit of downside risk	1.76	2.41	-0.66
Omega ratio: Gain probability vs. loss probability	1.21	1.30	-0.08
Calmar ratio: Return relative to maximum drawdown	1.64	1.99	-0.35
Martin ratio: Return relative to average drawdown	4.87	6.30	-1.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUBD vs. NCPB - Sharpe Ratio Comparison

The current NUBD Sharpe Ratio is 1.21, which is comparable to the NCPB Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of NUBD and NCPB, 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

	NUBD	NCPB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.64	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	1.22	-0.92

Drawdowns

NUBD vs. NCPB - Drawdown Comparison

The maximum NUBD drawdown since its inception was -19.45%, which is greater than NCPB's maximum drawdown of -3.59%. Use the drawdown chart below to compare losses from any high point for NUBD and NCPB.

Drawdown Indicators

	NUBD	NCPB	Difference
Max Drawdown Largest peak-to-trough decline	-19.45%	-3.59%	-15.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-2.88%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-5.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	—	—
Current Drawdown Current decline from peak	-3.77%	-1.25%	-2.52%
Average Drawdown Average peak-to-trough decline	-6.05%	-0.93%	-5.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.91%	+0.02%

Volatility

NUBD vs. NCPB - Volatility Comparison

Nuveen ESG U.S. Aggregate Bond ETF (NUBD) and Nuveen Core Plus Bond ETF (NCPB) have volatilities of 1.22% and 1.24%, 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.

Volatility by Period

	NUBD	NCPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.24%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	2.63%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	3.54%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.99%	4.34%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.12%	4.34%	+0.78%

NUBD vs. NCPB - Expense Ratio Comparison

NUBD has a 0.15% expense ratio, which is lower than NCPB's 0.30% expense ratio.

Dividends

NUBD vs. NCPB - Dividend Comparison

NUBD's dividend yield for the trailing twelve months is around 3.98%, less than NCPB's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCPB Nuveen Core Plus Bond ETF	5.21%	5.21%	5.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUBD Nuveen ESG U.S. Aggregate Bond ETF	3.98%	3.90%	3.51%	2.99%	2.83%	2.05%	2.21%	2.66%	3.08%	0.58%

Frequently Asked Questions

Can I hold both NUBD and NCPB in my portfolio?

With a correlation of 0.91, NUBD and NCPB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NUBD or NCPB?

NCPB has higher volatility (1.24%) compared to NUBD (1.22%). In terms of maximum drawdown, NUBD dropped -19.45% vs NCPB's -3.59%.

Which ETF is better, NUBD or NCPB?

On 1-year performance, NCPB leads with 5.71% vs 4.51% for NUBD. On fees, NUBD is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUBD or NCPB?

Over the 1-year period, NCPB has performed better with a 5.71% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUBD or NCPB?

NUBD is cheaper with a 0.15% expense ratio, compared with 0.30% for NCPB.

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

NCPB has the higher dividend yield at 5.21%, compared with 3.98% for NUBD.

What is the main difference between NUBD and NCPB?

NUBD is categorized as Intermediate Core Bond, while NCPB is Intermediate Core-Plus Bond. Their fees differ too: 0.15% for NUBD and 0.30% for NCPB.

Which has better risk-adjusted returns?

NCPB currently has the higher Sharpe Ratio (1.64 vs 1.21), 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.