NULC vs. DCMT

Last updated Aug 5, 2026

NULC (Nuveen ESG Large-Cap ETF) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - NULC is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap, while DCMT is a Commodities fund actively managed by DoubleLine. NULC is passively managed, while DCMT is actively managed. Over the past year, NULC returned 22.88% vs 29.63% for DCMT. Their -0.01 correlation means they have often moved in opposite directions in the past. NULC charges 0.20%/yr vs 0.66%/yr for DCMT.

Performance

NULC vs. DCMT - Performance Comparison

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

Returns By Period

In the year-to-date period, NULC achieves a 16.79% return, which is significantly lower than DCMT's 24.74% return.

NULC

• 1D: 1.94%
• 1M: 4.01%
• 6M: 14.56%
• YTD: 16.79%
• 1Y: 22.88%
• 3Y*: 20.15%
• 5Y*: 10.75%
• 10Y*: —
• ALL TIME*: 14.13%

DCMT

• 1D: -1.11%
• 1M: 6.02%
• 6M: 16.61%
• YTD: 24.74%
• 1Y: 29.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.42%

*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)
DCMT DoubleLine Commodity Strategy ETF	$307.72K	$268.91K	$199.57K
NULC Nuveen ESG Large-Cap ETF	$320.07K	$400.60K	$268.48K

NULC vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NULC Nuveen ESG Large-Cap ETF	16.79%	16.29%	17.00%
DCMT DoubleLine Commodity Strategy ETF	24.74%	6.04%	3.65%

Correlation

The correlation between NULC and DCMT is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.17
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	-0.01

The correlation between NULC and DCMT shifts across timeframes, from -0.17 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NULC vs. DCMT — Risk / Return Rank

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

NULC

NULC Risk / Return Rank: 65
NULC Sharpe Ratio Rank: 64
NULC Sortino Ratio Rank: 63
NULC Omega Ratio Rank: 60
NULC Calmar Ratio Rank: 65
NULC Martin Ratio Rank: 73

DCMT

DCMT Risk / Return Rank: 52
DCMT Sharpe Ratio Rank: 57
DCMT Sortino Ratio Rank: 55
DCMT Omega Ratio Rank: 53
DCMT Calmar Ratio Rank: 46
DCMT Martin Ratio Rank: 48

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.

NULC vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and DoubleLine Commodity Strategy ETF (DCMT). 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	DCMT	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.56	+0.13
Sortino ratio: Return per unit of downside risk	2.37	2.16	+0.21
Omega ratio: Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.58	1.86	+0.71
Martin ratio: Return relative to average drawdown	10.27	6.16	+4.10

NULC vs. DCMT - Sharpe Ratio Comparison

The current NULC Sharpe Ratio is 1.70, which is comparable to the DCMT Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of NULC and DCMT, 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. DCMT - Drawdown Comparison

The maximum NULC drawdown since its inception was -34.86%, which is greater than DCMT's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for NULC and DCMT.

Drawdown Indicators

	NULC	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-34.86%	-15.96%	-18.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-15.96%	+7.05%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	—	—
Current Drawdown Current decline from peak	0.00%	-10.46%	+10.46%
Average Drawdown Average peak-to-trough decline	-6.35%	-3.63%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	4.82%	-2.59%

Volatility

NULC vs. DCMT - Volatility Comparison

The current volatility for Nuveen ESG Large-Cap ETF (NULC) is 3.98%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 5.57%. This indicates that NULC experiences smaller price fluctuations and is considered to be less risky than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULC	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	5.57%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	16.66%	-5.92%
Volatility (1Y) Calculated over the trailing 1-year period	13.63%	19.04%	-5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	16.06%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	16.06%	+3.83%

NULC vs. DCMT - Expense Ratio Comparison

NULC has a 0.20% expense ratio, which is lower than DCMT's 0.66% expense ratio.

Dividends

NULC vs. DCMT - Dividend Comparison

NULC's dividend yield for the trailing twelve months is around 8.71%, more than DCMT's 2.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DCMT DoubleLine Commodity Strategy ETF	2.94%	3.67%	1.59%	0.00%	0.00%	0.00%	0.00%	0.00%
NULC Nuveen ESG Large-Cap ETF	8.71%	10.17%	1.86%	1.32%	2.37%	6.14%	4.07%	0.77%

Frequently Asked Questions

Can I hold both NULC and DCMT in my portfolio?

NULC and DCMT have a correlation of -0.17, 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 DCMT?

DCMT has higher volatility (5.57%) compared to NULC (3.98%). In terms of maximum drawdown, NULC dropped -34.86% vs DCMT's -15.96%.

Which ETF is better, NULC or DCMT?

On 1-year performance, DCMT leads with 29.63% vs 22.88% for NULC. On fees, NULC is cheaper at 0.20% per year. On volatility, NULC has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULC or DCMT?

Over the 1-year period, DCMT has performed better with a 29.63% return vs 22.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULC or DCMT?

NULC is cheaper with a 0.20% expense ratio, compared with 0.66% for DCMT.

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

NULC has the higher dividend yield at 8.71%, compared with 2.94% for DCMT.

What is the main difference between NULC and DCMT?

NULC is categorized as Large Cap Growth Equities, while DCMT is Commodities. They also come from different issuers: Nuveen and DoubleLine. Their fees differ too: 0.20% for NULC and 0.66% for DCMT.

Which has better risk-adjusted returns?

NULC currently has the higher Sharpe Ratio (1.70 vs 1.56), 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.