NUDM vs. NUDV

Last updated Aug 4, 2026

NUDM (Nuveen ESG International Developed Markets Equity ETF) and NUDV (Nuveen ESG Dividend ETF) are both exchange-traded funds - NUDM is a Foreign Large Cap Equities fund tracking the MSCI TIAA ESG International DM, while NUDV is a Large Cap Value Equities fund tracking the Nuveen ESG USA High Dividend Yield Index. Both are passively managed. Over the past 3 years, NUDM returned 17.61%/yr vs 15.08%/yr for NUDV. Their 0.68 correlation means they have sometimes moved together and sometimes differently. NUDM charges 0.30%/yr vs 0.26%/yr for NUDV.

Performance

NUDM vs. NUDV - Performance Comparison

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

Returns By Period

In the year-to-date period, NUDM achieves a 12.01% return, which is significantly lower than NUDV's 13.96% return.

NUDM

• 1D: 0.35%
• 1M: 1.07%
• 6M: 6.46%
• YTD: 12.01%
• 1Y: 25.69%
• 3Y*: 17.61%
• 5Y*: 8.93%
• 10Y*: —
• ALL TIME*: 8.69%

NUDV

• 1D: 0.32%
• 1M: 1.63%
• 6M: 8.28%
• YTD: 13.96%
• 1Y: 23.41%
• 3Y*: 15.08%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NUDM Nuveen ESG International Developed Markets Equity ETF	$2.51M	$2.03M	$1.85M
NUDV Nuveen ESG Dividend ETF	$325.02K	$233.14K	$178.66K

NUDM vs. NUDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUDM Nuveen ESG International Developed Markets Equity ETF	12.01%	29.60%	5.47%	17.70%	-15.16%	0.33%
NUDV Nuveen ESG Dividend ETF	13.96%	10.77%	14.02%	10.13%	-7.83%	8.35%

Correlation

The correlation between NUDM and NUDV is 0.51, 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.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021	0.68

The correlation between NUDM and NUDV shifts across timeframes, from 0.51 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

NUDM vs. NUDV - Sectors Allocation Comparison

Sectors	NUDM	NUDV
Financial Services	27.7%	23.4%
Industrials	20.8%	12.2%
Technology	14.6%	13.3%
Healthcare	9.9%	13.7%
Consumer Defensive	6.0%	10.3%
Consumer Cyclical	5.0%	5.7%
Basic Materials	4.8%	4.2%
Communication Services	4.6%	3.4%
Utilities	4.2%	6.6%
Real Estate	1.6%	4.5%
Energy	0.6%	2.6%

Return for Risk

NUDM vs. NUDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NUDM

NUDM Risk / Return Rank: 61
NUDM Sharpe Ratio Rank: 64
NUDM Sortino Ratio Rank: 64
NUDM Omega Ratio Rank: 62
NUDM Calmar Ratio Rank: 55
NUDM Martin Ratio Rank: 61

NUDV

NUDV Risk / Return Rank: 88
NUDV Sharpe Ratio Rank: 89
NUDV Sortino Ratio Rank: 90
NUDV Omega Ratio Rank: 87
NUDV Calmar Ratio Rank: 86
NUDV Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NUDM vs. NUDV - Risk-Adjusted Trends Comparison

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

	NUDM	NUDV	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.27	-0.69
Sortino ratio: Return per unit of downside risk	2.23	3.32	-1.09
Omega ratio: Gain probability vs. loss probability	1.28	1.40	-0.12
Calmar ratio: Return relative to maximum drawdown	2.06	3.57	-1.50
Martin ratio: Return relative to average drawdown	7.74	13.05	-5.30

NUDM vs. NUDV - Sharpe Ratio Comparison

The current NUDM Sharpe Ratio is 1.58, which is lower than the NUDV Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of NUDM and NUDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NUDM vs. NUDV - Drawdown Comparison

The maximum NUDM drawdown since its inception was -32.01%, which is greater than NUDV's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for NUDM and NUDV.

Drawdown Indicators

	NUDM	NUDV	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-20.10%	-11.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.50%	-6.60%	-5.90%
Max Drawdown (3Y) Largest decline over 3 years	-13.47%	-16.48%	+3.01%
Max Drawdown (5Y) Largest decline over 5 years	-30.09%	—	—
Current Drawdown Current decline from peak	0.00%	-1.40%	+1.40%
Average Drawdown Average peak-to-trough decline	-6.76%	-4.77%	-1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	1.80%	+1.53%

Volatility

NUDM vs. NUDV - Volatility Comparison

Nuveen ESG International Developed Markets Equity ETF (NUDM) has a higher volatility of 4.56% compared to Nuveen ESG Dividend ETF (NUDV) at 3.12%. This indicates that NUDM's price experiences larger fluctuations and is considered to be riskier than NUDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUDM	NUDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	3.12%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	14.07%	7.67%	+6.40%
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	10.38%	+5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	14.84%	+1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.58%	14.84%	+2.74%

NUDM vs. NUDV - Expense Ratio Comparison

NUDM has a 0.30% expense ratio, which is higher than NUDV's 0.26% expense ratio.

Dividends

NUDM vs. NUDV - Dividend Comparison

NUDM's dividend yield for the trailing twelve months is around 6.66%, more than NUDV's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUDM Nuveen ESG International Developed Markets Equity ETF	6.66%	7.46%	3.33%	3.14%	1.98%	4.31%	1.47%	3.42%	2.45%	0.47%
NUDV Nuveen ESG Dividend ETF	2.25%	2.36%	6.18%	2.48%	2.96%	0.60%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUDM and NUDV in my portfolio?

NUDM and NUDV have a correlation of 0.51, 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 NUDV?

NUDM has higher volatility (4.56%) compared to NUDV (3.12%). In terms of maximum drawdown, NUDM dropped -32.01% vs NUDV's -20.10%.

Which ETF is better, NUDM or NUDV?

On 3-year performance, NUDM leads with 17.61% vs 15.08% for NUDV. On fees, NUDV is cheaper at 0.26% per year. On volatility, NUDV has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUDM or NUDV?

Over the 3-year period, NUDM has performed better with a 17.61% return vs 15.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUDM or NUDV?

NUDV is cheaper with a 0.26% expense ratio, compared with 0.30% for NUDM.

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

NUDM has the higher dividend yield at 6.66%, compared with 2.25% for NUDV.

What is the main difference between NUDM and NUDV?

NUDM is categorized as Foreign Large Cap Equities, while NUDV is Large Cap Value Equities. NUDM tracks MSCI TIAA ESG International DM, while NUDV tracks Nuveen ESG USA High Dividend Yield Index. Their fees differ too: 0.30% for NUDM and 0.26% for NUDV.

Which has better risk-adjusted returns?

NUDV currently has the higher Sharpe Ratio (2.27 vs 1.58), 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.