NUEM vs. NUSC

Last updated Apr 2, 2026

Compare and contrast key facts about Nuveen ESG Emerging Markets Equity ETF (NUEM) and Nuveen ESG Small-Cap ETF (NUSC).

NUEM and NUSC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NUEM is a passively managed fund by Nuveen that tracks the performance of the MSCI TIAA ESG Emerging Markets. It was launched on Jun 7, 2017. NUSC is a passively managed fund by Nuveen that tracks the performance of the MSCI TIAA ESG USA Small Cap. It was launched on Dec 13, 2016. Both NUEM and NUSC 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

NUEM vs. NUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Emerging Markets Equity ETF (NUEM) and Nuveen ESG Small-Cap ETF (NUSC). The values are adjusted to include any dividend payments, if applicable.

NUEM vs. NUSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUEM Nuveen ESG Emerging Markets Equity ETF	3.71%	27.12%	9.73%	8.57%	-19.74%	-1.08%	24.09%	16.67%	-17.26%	18.50%
NUSC Nuveen ESG Small-Cap ETF	1.77%	7.72%	8.29%	15.72%	-17.73%	17.51%	23.69%	27.09%	-9.40%	9.07%

Returns By Period

In the year-to-date period, NUEM achieves a 3.71% return, which is significantly higher than NUSC's 1.77% return.

NUEM

• 1D: 0.44%
• 1M: -4.45%
• YTD: 3.71%
• 6M: 6.33%
• 1Y: 30.75%
• 3Y*: 14.14%
• 5Y*: 3.37%
• 10Y*: —

NUSC

• 1D: 0.84%
• 1M: -5.43%
• YTD: 1.77%
• 6M: 3.62%
• 1Y: 19.16%
• 3Y*: 9.86%
• 5Y*: 3.12%
• 10Y*: —

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

NUEM vs. NUSC - Expense Ratio Comparison

NUEM has a 0.35% expense ratio, which is higher than NUSC's 0.30% expense ratio.

NUEM

Nuveen ESG Emerging Markets Equity ETF

NUSC

Nuveen ESG Small-Cap ETF

Return for Risk

NUEM vs. NUSC — Risk / Return Rank

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

NUEM

NUEM Risk / Return Rank: 81
NUEM Sharpe Ratio Rank: 80
NUEM Sortino Ratio Rank: 82
NUEM Omega Ratio Rank: 80
NUEM Calmar Ratio Rank: 84
NUEM Martin Ratio Rank: 78

NUSC

NUSC Risk / Return Rank: 47
NUSC Sharpe Ratio Rank: 44
NUSC Sortino Ratio Rank: 47
NUSC Omega Ratio Rank: 43
NUSC Calmar Ratio Rank: 48
NUSC Martin Ratio Rank: 53

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.

NUEM vs. NUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Emerging Markets Equity ETF (NUEM) and Nuveen ESG Small-Cap ETF (NUSC). 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.

	NUEM	NUSC	Difference
Sharpe ratio Return per unit of total volatility	1.60	0.86	+0.74
Sortino ratio Return per unit of downside risk	2.25	1.35	+0.90
Omega ratio Gain probability vs. loss probability	1.32	1.18	+0.14
Calmar ratio Return relative to maximum drawdown	2.67	1.34	+1.33
Martin ratio Return relative to average drawdown	9.30	5.44	+3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUEM vs. NUSC - Sharpe Ratio Comparison

The current NUEM Sharpe Ratio is 1.60, which is higher than the NUSC Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of NUEM and NUSC, 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

	NUEM	NUSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	0.86	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.15	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.39	-0.06

Correlation

The correlation between NUEM and NUSC is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NUEM vs. NUSC - Dividend Comparison

NUEM's dividend yield for the trailing twelve months is around 3.45%, more than NUSC's 1.03% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUEM Nuveen ESG Emerging Markets Equity ETF	3.45%	3.58%	1.95%	2.37%	1.90%	2.45%	1.26%	1.98%	2.05%	0.62%
NUSC Nuveen ESG Small-Cap ETF	1.03%	1.05%	1.15%	1.11%	1.16%	7.06%	0.52%	0.90%	3.95%	0.94%

Drawdowns

NUEM vs. NUSC - Drawdown Comparison

The maximum NUEM drawdown since its inception was -39.48%, roughly equal to the maximum NUSC drawdown of -41.49%. Use the drawdown chart below to compare losses from any high point for NUEM and NUSC.

Drawdown Indicators

	NUEM	NUSC	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-41.49%	+2.01%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-14.76%	+3.20%
Max Drawdown (5Y) Largest decline over 5 years	-38.10%	-28.85%	-9.25%
Current Drawdown Current decline from peak	-7.70%	-6.21%	-1.49%
Average Drawdown Average peak-to-trough decline	-15.28%	-8.33%	-6.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.63%	-0.32%

Volatility

NUEM vs. NUSC - Volatility Comparison

Nuveen ESG Emerging Markets Equity ETF (NUEM) has a higher volatility of 8.99% compared to Nuveen ESG Small-Cap ETF (NUSC) at 6.89%. This indicates that NUEM's price experiences larger fluctuations and is considered to be riskier than NUSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUEM	NUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.99%	6.89%	+2.10%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	12.90%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	19.28%	22.31%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.42%	21.18%	-1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	22.46%	-2.37%