NUGO vs. NUSC

Last updated Jun 24, 2026

NUGO (Nuveen Growth Opportunities ETF) and NUSC (Nuveen ESG Small-Cap ETF) are both exchange-traded funds - NUGO is a Large Cap Growth Equities fund actively managed by Nuveen, while NUSC is a Small Cap Growth Equities fund tracking the MSCI TIAA ESG USA Small Cap. NUGO is actively managed, while NUSC is passively managed. Over the past 3 years, NUGO returned 23.38%/yr vs 13.78%/yr for NUSC. A 0.68 correlation means they provide meaningful diversification when combined. NUGO charges 0.56%/yr vs 0.30%/yr for NUSC.

Performance

NUGO vs. NUSC - Performance Comparison

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

Returns By Period

In the year-to-date period, NUGO achieves a 5.70% return, which is significantly lower than NUSC's 13.66% return.

NUGO

• 1D: -2.28%
• 1M: -2.28%
• YTD: 5.70%
• 6M: 4.55%
• 1Y: 21.40%
• 3Y*: 23.38%
• 5Y*: —
• 10Y*: —

NUSC

• 1D: -0.98%
• 1M: 3.23%
• YTD: 13.66%
• 6M: 11.49%
• 1Y: 28.10%
• 3Y*: 13.78%
• 5Y*: 4.65%
• 10Y*: —

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

NUGO vs. NUSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUGO Nuveen Growth Opportunities ETF	5.70%	14.91%	35.95%	45.37%	-32.73%	7.09%
NUSC Nuveen ESG Small-Cap ETF	13.66%	7.72%	8.29%	15.72%	-17.73%	0.30%

Correlation

The correlation between NUGO and NUSC is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021	0.68

The correlation between NUGO and NUSC shifts across timeframes, from 0.55 (3 years) to 0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NUGO vs. NUSC — Risk / Return Rank

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

NUGO

NUGO Risk / Return Rank: 31
NUGO Sharpe Ratio Rank: 34
NUGO Sortino Ratio Rank: 32
NUGO Omega Ratio Rank: 31
NUGO Calmar Ratio Rank: 27
NUGO Martin Ratio Rank: 29

NUSC

NUSC Risk / Return Rank: 54
NUSC Sharpe Ratio Rank: 51
NUSC Sortino Ratio Rank: 52
NUSC Omega Ratio Rank: 46
NUSC Calmar Ratio Rank: 61
NUSC Martin Ratio Rank: 61

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.

NUGO vs. NUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Growth Opportunities ETF (NUGO) 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.

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.

	NUGO	NUSC	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.62	-0.47
Sortino ratio: Return per unit of downside risk	1.63	2.37	-0.74
Omega ratio: Gain probability vs. loss probability	1.20	1.28	-0.07
Calmar ratio: Return relative to maximum drawdown	1.23	2.79	-1.57
Martin ratio: Return relative to average drawdown	3.92	10.07	-6.15

NUGO vs. NUSC - Sharpe Ratio Comparison

The current NUGO Sharpe Ratio is 1.15, which is comparable to the NUSC Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of NUGO and NUSC, 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

NUGO vs. NUSC - Drawdown Comparison

The maximum NUGO drawdown since its inception was -38.01%, smaller than the maximum NUSC drawdown of -41.49%. Use the drawdown chart below to compare losses from any high point for NUGO and NUSC.

Drawdown Indicators

	NUGO	NUSC	Difference
Max Drawdown Largest peak-to-trough decline	-38.01%	-41.49%	+3.48%
Max Drawdown (1Y) Largest decline over 1 year	-17.54%	-10.10%	-7.44%
Max Drawdown (3Y) Largest decline over 3 years	-25.12%	-26.95%	+1.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.85%	—
Current Drawdown Current decline from peak	-5.45%	-1.07%	-4.38%
Average Drawdown Average peak-to-trough decline	-11.97%	-8.17%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.48%	2.80%	+2.68%

Volatility

NUGO vs. NUSC - Volatility Comparison

Nuveen Growth Opportunities ETF (NUGO) has a higher volatility of 7.16% compared to Nuveen ESG Small-Cap ETF (NUSC) at 5.19%. This indicates that NUGO'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

	NUGO	NUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	5.19%	+1.97%
Volatility (6M) Calculated over the trailing 6-month period	14.45%	12.72%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.76%	17.45%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.19%	21.19%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.19%	22.34%	+0.85%

NUGO vs. NUSC - Expense Ratio Comparison

NUGO has a 0.56% expense ratio, which is higher than NUSC's 0.30% expense ratio.

Dividends

NUGO vs. NUSC - Dividend Comparison

NUGO has not paid dividends to shareholders, while NUSC's dividend yield for the trailing twelve months is around 0.92%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUGO Nuveen Growth Opportunities ETF	0.00%	0.00%	0.00%	0.19%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%
NUSC Nuveen ESG Small-Cap ETF	0.92%	1.05%	1.15%	1.11%	1.16%	7.06%	0.52%	0.90%	3.95%	0.94%

Frequently Asked Questions

Can I hold both NUGO and NUSC in my portfolio?

NUGO and NUSC have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUGO or NUSC?

NUGO has higher volatility (7.16%) compared to NUSC (5.19%). In terms of maximum drawdown, NUGO dropped -38.01% vs NUSC's -41.49%.

Which ETF is better, NUGO or NUSC?

On 3-year performance, NUGO leads with 23.38% vs 13.78% for NUSC. On fees, NUSC is cheaper at 0.30% per year. On volatility, NUSC has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUGO or NUSC?

Over the 3-year period, NUGO has performed better with a 23.38% return vs 13.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUGO or NUSC?

NUSC is cheaper with a 0.30% expense ratio, compared with 0.56% for NUGO.

Which ETF pays a higher dividend yield, NUGO or NUSC?

NUSC has the higher dividend yield at 0.92%, compared with 0.00% for NUGO.

What is the main difference between NUGO and NUSC?

NUGO is categorized as Large Cap Growth Equities, while NUSC is Small Cap Growth Equities. Their fees differ too: 0.56% for NUGO and 0.30% for NUSC.

Which has better risk-adjusted returns?

NUSC currently has the higher Sharpe Ratio (1.62 vs 1.15), 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.