NUDV vs. NCLO

Last updated Apr 2, 2026

Compare and contrast key facts about Nuveen ESG Dividend ETF (NUDV) and Nuveen AA-BBB CLO ETF (NCLO).

NUDV and NCLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NUDV is a passively managed fund by Nuveen that tracks the performance of the Nuveen ESG USA High Dividend Yield Index. It was launched on Sep 27, 2021. NCLO is a passively managed fund by Nuveen that tracks the performance of the JP Morgan CLO A Index. It was launched on Dec 10, 2024. Both NUDV and NCLO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

NUDV vs. NCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Dividend ETF (NUDV) and Nuveen AA-BBB CLO ETF (NCLO). The values are adjusted to include any dividend payments, if applicable.

NUDV vs. NCLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUDV Nuveen ESG Dividend ETF	3.94%	10.77%	-3.49%
NCLO Nuveen AA-BBB CLO ETF	0.33%	6.28%	0.35%

Returns By Period

In the year-to-date period, NUDV achieves a 3.94% return, which is significantly higher than NCLO's 0.33% return.

NUDV

• 1D: 0.20%
• 1M: -4.71%
• YTD: 3.94%
• 6M: 7.48%
• 1Y: 13.48%
• 3Y*: 13.06%
• 5Y*: —
• 10Y*: —

NCLO

• 1D: -0.03%
• 1M: -0.17%
• YTD: 0.33%
• 6M: 2.03%
• 1Y: 5.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUDV vs. NCLO - Expense Ratio Comparison

Both NUDV and NCLO have an expense ratio of 0.26%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

NUDV

Nuveen ESG Dividend ETF

NCLO

Nuveen AA-BBB CLO ETF

Return for Risk

NUDV vs. NCLO — Risk / Return Rank

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

NUDV

NUDV Risk / Return Rank: 46
NUDV Sharpe Ratio Rank: 47
NUDV Sortino Ratio Rank: 46
NUDV Omega Ratio Rank: 47
NUDV Calmar Ratio Rank: 40
NUDV Martin Ratio Rank: 48

NCLO

NCLO Risk / Return Rank: 74
NCLO Sharpe Ratio Rank: 71
NCLO Sortino Ratio Rank: 66
NCLO Omega Ratio Rank: 85
NCLO Calmar Ratio Rank: 65
NCLO Martin Ratio Rank: 85

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.

NUDV vs. NCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Dividend ETF (NUDV) and Nuveen AA-BBB CLO ETF (NCLO). 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.

	NUDV	NCLO	Difference
Sharpe ratio Return per unit of total volatility	0.89	1.32	-0.43
Sortino ratio Return per unit of downside risk	1.33	1.75	-0.41
Omega ratio Gain probability vs. loss probability	1.19	1.36	-0.17
Calmar ratio Return relative to maximum drawdown	1.12	1.80	-0.68
Martin ratio Return relative to average drawdown	4.97	10.65	-5.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUDV vs. NCLO - Sharpe Ratio Comparison

The current NUDV Sharpe Ratio is 0.89, which is lower than the NCLO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of NUDV and NCLO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NUDV	NCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.32	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	1.44	-0.86

Correlation

The correlation between NUDV and NCLO is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NUDV vs. NCLO - Dividend Comparison

NUDV's dividend yield for the trailing twelve months is around 2.40%, less than NCLO's 5.91% yield.

	TTM	2025	2024	2023	2022	2021
NUDV Nuveen ESG Dividend ETF	2.40%	2.36%	6.18%	2.48%	2.96%	0.60%
NCLO Nuveen AA-BBB CLO ETF	5.91%	6.09%	0.35%	0.00%	0.00%	0.00%

Drawdowns

NUDV vs. NCLO - Drawdown Comparison

The maximum NUDV drawdown since its inception was -20.10%, which is greater than NCLO's maximum drawdown of -3.05%. Use the drawdown chart below to compare losses from any high point for NUDV and NCLO.

Drawdown Indicators

	NUDV	NCLO	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-3.05%	-17.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.81%	-3.05%	-8.76%
Current Drawdown Current decline from peak	-4.85%	-0.51%	-4.34%
Average Drawdown Average peak-to-trough decline	-5.05%	-0.21%	-4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	0.52%	+2.13%

Volatility

NUDV vs. NCLO - Volatility Comparison

Nuveen ESG Dividend ETF (NUDV) has a higher volatility of 3.58% compared to Nuveen AA-BBB CLO ETF (NCLO) at 2.98%. This indicates that NUDV's price experiences larger fluctuations and is considered to be riskier than NCLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUDV	NCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	2.98%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	3.29%	+4.34%
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	4.23%	+10.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	3.76%	+11.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	3.76%	+11.36%