NUDV vs. XMHQ

Last updated Aug 2, 2026

NUDV (Nuveen ESG Dividend ETF) and XMHQ (Invesco S&P MidCap Quality ETF) are both exchange-traded funds - NUDV is a Large Cap Value Equities fund tracking the Nuveen ESG USA High Dividend Yield Index, while XMHQ is a Quality Factor fund tracking the S&P MidCap 400 Quality Index. Both are passively managed. Over the past 3 years, NUDV returned 14.23%/yr vs 13.54%/yr for XMHQ. Their correlation of 0.81 means they have usually moved in the same direction. NUDV charges 0.26%/yr vs 0.25%/yr for XMHQ.

Performance

NUDV vs. XMHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Dividend ETF (NUDV) and Invesco S&P MidCap Quality ETF (XMHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUDV achieves a 13.60% return, which is significantly higher than XMHQ's 12.54% return.

NUDV

• 1D: -0.11%
• 1M: 1.31%
• 6M: 8.66%
• YTD: 13.60%
• 1Y: 23.02%
• 3Y*: 14.23%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.89%

XMHQ

• 1D: 0.26%
• 1M: 1.40%
• 6M: 8.28%
• YTD: 12.54%
• 1Y: 16.17%
• 3Y*: 13.54%
• 5Y*: 10.18%
• 10Y*: 12.83%
• ALL TIME*: 9.48%

*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)
NUDV Nuveen ESG Dividend ETF	$309.43K	$235.58K	$178.17K
XMHQ Invesco S&P MidCap Quality ETF	$19.95M	$19.43M	$20.53M

NUDV vs. XMHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUDV Nuveen ESG Dividend ETF	13.60%	10.77%	14.02%	10.13%	-7.83%	8.35%
XMHQ Invesco S&P MidCap Quality ETF	12.54%	4.71%	16.79%	29.51%	-12.42%	2.43%

Correlation

The correlation between NUDV and XMHQ is 0.66, 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.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021	0.81

The correlation between NUDV and XMHQ shifts across timeframes, from 0.66 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

NUDV vs. XMHQ - Sectors Allocation Comparison

Sectors	NUDV	XMHQ
Financial Services	23.4%	15.1%
Healthcare	13.7%	16.0%
Technology	13.3%	18.5%
Industrials	12.2%	30.2%
Consumer Defensive	10.3%	1.1%
Utilities	6.6%	2.2%
Consumer Cyclical	5.7%	9.4%
Real Estate	4.5%	-
Basic Materials	4.2%	1.5%
Communication Services	3.4%	1.4%
Energy	2.6%	6.9%

Return for Risk

NUDV vs. XMHQ — Risk / Return Rank

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

NUDV

NUDV Risk / Return Rank: 87
NUDV Sharpe Ratio Rank: 88
NUDV Sortino Ratio Rank: 89
NUDV Omega Ratio Rank: 85
NUDV Calmar Ratio Rank: 86
NUDV Martin Ratio Rank: 86

XMHQ

XMHQ Risk / Return Rank: 41
XMHQ Sharpe Ratio Rank: 38
XMHQ Sortino Ratio Rank: 40
XMHQ Omega Ratio Rank: 35
XMHQ Calmar Ratio Rank: 46
XMHQ Martin Ratio Rank: 44

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.

NUDV vs. XMHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Dividend ETF (NUDV) and Invesco S&P MidCap Quality ETF (XMHQ). 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.

	NUDV	XMHQ	Difference
Sharpe ratio: Return per unit of total volatility	2.12	0.95	+1.17
Sortino ratio: Return per unit of downside risk	3.10	1.47	+1.63
Omega ratio: Gain probability vs. loss probability	1.37	1.17	+0.20
Calmar ratio: Return relative to maximum drawdown	3.34	1.64	+1.70
Martin ratio: Return relative to average drawdown	12.23	4.86	+7.37

NUDV vs. XMHQ - Sharpe Ratio Comparison

The current NUDV Sharpe Ratio is 2.12, which is higher than the XMHQ Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of NUDV and XMHQ, 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

NUDV vs. XMHQ - Drawdown Comparison

The maximum NUDV drawdown since its inception was -20.10%, smaller than the maximum XMHQ drawdown of -58.19%. Use the drawdown chart below to compare losses from any high point for NUDV and XMHQ.

Drawdown Indicators

	NUDV	XMHQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-58.19%	+38.09%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-8.85%	+2.25%
Max Drawdown (3Y) Largest decline over 3 years	-16.48%	-24.56%	+8.08%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.90%	—
Current Drawdown Current decline from peak	-1.71%	-0.02%	-1.69%
Average Drawdown Average peak-to-trough decline	-4.78%	-9.22%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	2.97%	-1.17%

Volatility

NUDV vs. XMHQ - Volatility Comparison

Nuveen ESG Dividend ETF (NUDV) has a higher volatility of 3.29% compared to Invesco S&P MidCap Quality ETF (XMHQ) at 3.13%. This indicates that NUDV's price experiences larger fluctuations and is considered to be riskier than XMHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUDV	XMHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	3.13%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	7.67%	11.07%	-3.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	15.30%	-4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	20.57%	-5.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	20.63%	-5.79%

NUDV vs. XMHQ - Expense Ratio Comparison

NUDV has a 0.26% expense ratio, which is higher than XMHQ's 0.25% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

NUDV vs. XMHQ - Dividend Comparison

NUDV's dividend yield for the trailing twelve months is around 2.26%, more than XMHQ's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NUDV Nuveen ESG Dividend ETF	2.26%	2.36%	6.18%	2.48%	2.96%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XMHQ Invesco S&P MidCap Quality ETF	0.56%	0.64%	5.20%	0.73%	1.72%	1.00%	1.12%	1.22%	1.59%	1.06%	1.63%	1.34%

Frequently Asked Questions

Can I hold both NUDV and XMHQ in my portfolio?

NUDV and XMHQ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUDV or XMHQ?

NUDV has higher volatility (3.29%) compared to XMHQ (3.13%). In terms of maximum drawdown, NUDV dropped -20.10% vs XMHQ's -58.19%.

Which ETF is better, NUDV or XMHQ?

On 3-year performance, NUDV leads with 14.23% vs 13.54% for XMHQ. On fees, XMHQ is cheaper at 0.25% per year. On volatility, XMHQ has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUDV or XMHQ?

Over the 3-year period, NUDV has performed better with a 14.23% return vs 13.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUDV or XMHQ?

XMHQ is cheaper with a 0.25% expense ratio, compared with 0.26% for NUDV.

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

NUDV has the higher dividend yield at 2.26%, compared with 0.56% for XMHQ.

What is the main difference between NUDV and XMHQ?

NUDV is categorized as Large Cap Value Equities, while XMHQ is Quality Factor. NUDV tracks Nuveen ESG USA High Dividend Yield Index, while XMHQ tracks S&P MidCap 400 Quality Index. They also come from different issuers: Nuveen and Invesco. Their fees differ too: 0.26% for NUDV and 0.25% for XMHQ.

Which has better risk-adjusted returns?

NUDV currently has the higher Sharpe Ratio (2.12 vs 0.95), 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.