NUDM vs. DWMF

Last updated Jun 4, 2026

NUDM (Nuveen ESG International Developed Markets Equity ETF) and DWMF (WisdomTree International Multifactor Fund) are both Foreign Large Cap Equities funds. NUDM is passively managed, while DWMF is actively managed. Over the past 5 years, NUDM returned 7.98%/yr vs 8.14%/yr for DWMF. Their correlation of 0.84 suggests significant overlap in exposure. NUDM charges 0.30%/yr vs 0.38%/yr for DWMF.

Performance

NUDM vs. DWMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG International Developed Markets Equity ETF (NUDM) and WisdomTree International Multifactor Fund (DWMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUDM achieves a 7.90% return, which is significantly higher than DWMF's 1.89% return.

NUDM

• 1D: -0.62%
• 1M: 4.14%
• YTD: 7.90%
• 6M: 9.70%
• 1Y: 21.49%
• 3Y*: 16.01%
• 5Y*: 7.98%
• 10Y*: —

DWMF

• 1D: -0.69%
• 1M: -0.93%
• YTD: 1.89%
• 6M: 3.01%
• 1Y: 7.73%
• 3Y*: 13.07%
• 5Y*: 8.14%
• 10Y*: —

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

NUDM vs. DWMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NUDM Nuveen ESG International Developed Markets Equity ETF	7.90%	29.60%	5.47%	17.70%	-15.16%	10.62%	10.06%	24.58%	-10.99%
DWMF WisdomTree International Multifactor Fund	1.89%	24.42%	10.22%	10.78%	-7.31%	11.24%	-1.18%	16.10%	-7.30%

Correlation

The correlation between NUDM and DWMF is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 13, 2018	0.84

The correlation between NUDM and DWMF has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

NUDM vs. DWMF - Sectors Allocation Comparison

Sectors	NUDM	DWMF
Financial Services	25.9%	20.0%
Industrials	21.2%	18.9%
Technology	12.1%	4.0%
Healthcare	10.8%	9.0%
Consumer Defensive	7.4%	11.5%
Consumer Cyclical	6.0%	5.5%
Basic Materials	5.4%	3.7%
Communication Services	4.5%	9.5%
Utilities	3.8%	9.2%
Real Estate	2.3%	6.7%
Energy	0.7%	2.0%

Return for Risk

NUDM vs. DWMF — Risk / Return Rank

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

NUDM

NUDM Risk / Return Rank: 38
NUDM Sharpe Ratio Rank: 38
NUDM Sortino Ratio Rank: 38
NUDM Omega Ratio Rank: 37
NUDM Calmar Ratio Rank: 35
NUDM Martin Ratio Rank: 41

DWMF

DWMF Risk / Return Rank: 20
DWMF Sharpe Ratio Rank: 21
DWMF Sortino Ratio Rank: 20
DWMF Omega Ratio Rank: 20
DWMF Calmar Ratio Rank: 20
DWMF Martin Ratio Rank: 21

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.

NUDM vs. DWMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG International Developed Markets Equity ETF (NUDM) and WisdomTree International Multifactor Fund (DWMF). 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.

	NUDM	DWMF	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.71	+0.67
Sortino ratio: Return per unit of downside risk	1.96	1.06	+0.91
Omega ratio: Gain probability vs. loss probability	1.25	1.13	+0.12
Calmar ratio: Return relative to maximum drawdown	1.73	0.89	+0.84
Martin ratio: Return relative to average drawdown	6.46	2.61	+3.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUDM vs. DWMF - Sharpe Ratio Comparison

The current NUDM Sharpe Ratio is 1.37, which is higher than the DWMF Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of NUDM and DWMF, 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

	NUDM	DWMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	0.71	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.73	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.50	-0.02

Drawdowns

NUDM vs. DWMF - Drawdown Comparison

The maximum NUDM drawdown since its inception was -32.01%, which is greater than DWMF's maximum drawdown of -29.72%. Use the drawdown chart below to compare losses from any high point for NUDM and DWMF.

Drawdown Indicators

	NUDM	DWMF	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-29.72%	-2.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.50%	-8.74%	-3.76%
Max Drawdown (3Y) Largest decline over 3 years	-13.47%	-8.74%	-4.73%
Max Drawdown (5Y) Largest decline over 5 years	-30.09%	-17.00%	-13.09%
Current Drawdown Current decline from peak	-1.71%	-7.11%	+5.40%
Average Drawdown Average peak-to-trough decline	-6.86%	-3.90%	-2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	2.97%	+0.37%

Volatility

NUDM vs. DWMF - Volatility Comparison

Nuveen ESG International Developed Markets Equity ETF (NUDM) has a higher volatility of 5.22% compared to WisdomTree International Multifactor Fund (DWMF) at 3.36%. This indicates that NUDM's price experiences larger fluctuations and is considered to be riskier than DWMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUDM	DWMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	3.36%	+1.86%
Volatility (6M) Calculated over the trailing 6-month period	13.03%	8.73%	+4.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	11.02%	+4.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	11.23%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	14.11%	+3.48%

NUDM vs. DWMF - Expense Ratio Comparison

NUDM has a 0.30% expense ratio, which is lower than DWMF's 0.38% expense ratio.

Dividends

NUDM vs. DWMF - Dividend Comparison

NUDM's dividend yield for the trailing twelve months is around 6.92%, more than DWMF's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DWMF WisdomTree International Multifactor Fund	2.92%	2.80%	3.50%	4.01%	3.41%	3.54%	2.06%	2.77%	1.15%	0.00%
NUDM Nuveen ESG International Developed Markets Equity ETF	6.92%	7.46%	3.33%	3.14%	1.98%	4.31%	1.47%	3.42%	2.45%	0.47%

Frequently Asked Questions

Can I hold both NUDM and DWMF in my portfolio?

NUDM and DWMF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUDM or DWMF?

NUDM has higher volatility (5.22%) compared to DWMF (3.36%). In terms of maximum drawdown, NUDM dropped -32.01% vs DWMF's -29.72%.

Which ETF is better, NUDM or DWMF?

On 5-year performance, DWMF leads with 8.14% vs 7.98% for NUDM. On fees, NUDM is cheaper at 0.30% per year. On volatility, DWMF has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUDM or DWMF?

Over the 5-year period, DWMF has performed better with a 8.14% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUDM or DWMF?

NUDM is cheaper with a 0.30% expense ratio, compared with 0.38% for DWMF.

Which ETF pays a higher dividend yield, NUDM or DWMF?

NUDM has the higher dividend yield at 6.92%, compared with 2.92% for DWMF.

What is the main difference between NUDM and DWMF?

They also come from different issuers: Nuveen and WisdomTree. Their fees differ too: 0.30% for NUDM and 0.38% for DWMF.

Which has better risk-adjusted returns?

NUDM currently has the higher Sharpe Ratio (1.37 vs 0.71), 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.