NULC vs. BDGS

Last updated Jun 24, 2026

NULC (Nuveen ESG Large-Cap ETF) and BDGS (Bridges Capital Tactical ETF) are both exchange-traded funds - NULC is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap, while BDGS is a Large Cap Blend Equities fund actively managed by Bridges. NULC is passively managed, while BDGS is actively managed. Over the past 3 years, NULC returned 19.66%/yr vs 13.42%/yr for BDGS. A 0.73 correlation means they provide meaningful diversification when combined. NULC charges 0.20%/yr vs 0.87%/yr for BDGS.

Performance

NULC vs. BDGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap ETF (NULC) and Bridges Capital Tactical ETF (BDGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NULC achieves a 11.42% return, which is significantly higher than BDGS's 4.21% return.

NULC

• 1D: -1.16%
• 1M: 0.22%
• YTD: 11.42%
• 6M: 10.52%
• 1Y: 24.81%
• 3Y*: 19.66%
• 5Y*: 10.62%
• 10Y*: —

BDGS

• 1D: -0.33%
• 1M: -1.13%
• YTD: 4.21%
• 6M: 3.97%
• 1Y: 11.63%
• 3Y*: 13.42%
• 5Y*: —
• 10Y*: —

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

NULC vs. BDGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NULC Nuveen ESG Large-Cap ETF	11.42%	16.29%	18.71%	17.05%
BDGS Bridges Capital Tactical ETF	4.21%	10.61%	19.07%	8.23%

Correlation

The correlation between NULC and BDGS is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since May 11, 2023	0.73

The correlation between NULC and BDGS has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.

NULC vs. BDGS - Sectors Allocation Comparison

Sectors	NULC	BDGS
Technology	30.1%	37.4%
Financial Services	17.1%	9.3%
Healthcare	10.6%	7.5%
Industrials	9.5%	6.6%
Communication Services	9.2%	16.6%
Consumer Cyclical	7.6%	10.9%
Consumer Defensive	5.8%	4.1%
Energy	3.4%	2.6%
Utilities	2.2%	1.9%
Real Estate	2.2%	1.5%
Basic Materials	2.1%	1.5%

Return for Risk

NULC vs. BDGS — Risk / Return Rank

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

NULC

NULC Risk / Return Rank: 61
NULC Sharpe Ratio Rank: 61
NULC Sortino Ratio Rank: 58
NULC Omega Ratio Rank: 57
NULC Calmar Ratio Rank: 61
NULC Martin Ratio Rank: 68

BDGS

BDGS Risk / Return Rank: 62
BDGS Sharpe Ratio Rank: 56
BDGS Sortino Ratio Rank: 61
BDGS Omega Ratio Rank: 64
BDGS Calmar Ratio Rank: 61
BDGS Martin Ratio Rank: 71

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.

NULC vs. BDGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and Bridges Capital Tactical ETF (BDGS). 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.

	NULC	BDGS	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.84	+0.03
Sortino ratio: Return per unit of downside risk	2.56	2.75	-0.19
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	2.80	2.90	-0.10
Martin ratio: Return relative to average drawdown	11.61	12.72	-1.11

NULC vs. BDGS - Sharpe Ratio Comparison

The current NULC Sharpe Ratio is 1.87, which is comparable to the BDGS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of NULC and BDGS, 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

NULC vs. BDGS - Drawdown Comparison

The maximum NULC drawdown since its inception was -34.86%, which is greater than BDGS's maximum drawdown of -9.12%. Use the drawdown chart below to compare losses from any high point for NULC and BDGS.

Drawdown Indicators

	NULC	BDGS	Difference
Max Drawdown Largest peak-to-trough decline	-34.86%	-9.12%	-25.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-4.03%	-4.88%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-9.12%	-9.41%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	—	—
Current Drawdown Current decline from peak	-2.91%	-2.17%	-0.74%
Average Drawdown Average peak-to-trough decline	-6.42%	-0.66%	-5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	0.92%	+1.22%

Volatility

NULC vs. BDGS - Volatility Comparison

Nuveen ESG Large-Cap ETF (NULC) has a higher volatility of 5.02% compared to Bridges Capital Tactical ETF (BDGS) at 2.30%. This indicates that NULC's price experiences larger fluctuations and is considered to be riskier than BDGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULC	BDGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	2.30%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	10.57%	5.17%	+5.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.34%	6.38%	+6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	8.22%	+8.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	8.22%	+11.76%

NULC vs. BDGS - Expense Ratio Comparison

NULC has a 0.20% expense ratio, which is lower than BDGS's 0.87% expense ratio.

Dividends

NULC vs. BDGS - Dividend Comparison

NULC's dividend yield for the trailing twelve months is around 9.13%, more than BDGS's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BDGS Bridges Capital Tactical ETF	0.53%	0.55%	1.81%	0.84%	0.00%	0.00%	0.00%	0.00%
NULC Nuveen ESG Large-Cap ETF	9.13%	10.17%	1.86%	1.32%	2.37%	6.14%	4.07%	0.77%

Frequently Asked Questions

Can I hold both NULC and BDGS in my portfolio?

NULC and BDGS have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NULC or BDGS?

NULC has higher volatility (5.02%) compared to BDGS (2.30%). In terms of maximum drawdown, NULC dropped -34.86% vs BDGS's -9.12%.

Which ETF is better, NULC or BDGS?

On 3-year performance, NULC leads with 19.66% vs 13.42% for BDGS. On fees, NULC is cheaper at 0.20% per year. On volatility, BDGS has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULC or BDGS?

Over the 3-year period, NULC has performed better with a 19.66% return vs 13.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULC or BDGS?

NULC is cheaper with a 0.20% expense ratio, compared with 0.87% for BDGS.

Which ETF pays a higher dividend yield, NULC or BDGS?

NULC has the higher dividend yield at 9.13%, compared with 0.53% for BDGS.

What is the main difference between NULC and BDGS?

NULC is categorized as Large Cap Growth Equities, while BDGS is Large Cap Blend Equities. They also come from different issuers: Nuveen and Bridges. Their fees differ too: 0.20% for NULC and 0.87% for BDGS.

Which has better risk-adjusted returns?

NULC currently has the higher Sharpe Ratio (1.87 vs 1.84), 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.