NULC vs. IUSG

Last updated Jun 24, 2026

NULC (Nuveen ESG Large-Cap ETF) and IUSG (iShares Core S&P U.S. Growth ETF) are both Large Cap Growth Equities funds - NULC tracks the MSCI TIAA ESG USA Large Cap while IUSG tracks the S&P 900 Growth Index. Both are passively managed. Over the past 5 years, NULC returned 10.62%/yr vs 13.77%/yr for IUSG. Their correlation of 0.92 suggests significant overlap in exposure. NULC charges 0.20%/yr vs 0.04%/yr for IUSG.

Performance

NULC vs. IUSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap ETF (NULC) and iShares Core S&P U.S. Growth ETF (IUSG). 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 IUSG's 9.19% return.

NULC

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

IUSG

• 1D: -2.31%
• 1M: -1.86%
• YTD: 9.19%
• 6M: 7.87%
• 1Y: 26.96%
• 3Y*: 25.00%
• 5Y*: 13.77%
• 10Y*: 17.77%

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

NULC vs. IUSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NULC Nuveen ESG Large-Cap ETF	11.42%	16.29%	18.71%	22.54%	-20.18%	25.69%	22.51%	6.17%
IUSG iShares Core S&P U.S. Growth ETF	9.19%	21.23%	34.70%	29.28%	-28.81%	31.26%	32.65%	16.90%

Correlation

The correlation between NULC and IUSG is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.92

The correlation between NULC and IUSG has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

NULC vs. IUSG - Sectors Allocation Comparison

Sectors	NULC	IUSG
Technology	30.1%	50.8%
Financial Services	17.1%	8.7%
Healthcare	10.6%	6.4%
Industrials	9.5%	6.6%
Communication Services	9.2%	15.2%
Consumer Cyclical	7.6%	8.4%
Consumer Defensive	5.8%	1.2%
Energy	3.4%	0.3%
Utilities	2.2%	1.1%
Real Estate	2.2%	0.8%
Basic Materials	2.1%	0.5%

Return for Risk

NULC vs. IUSG — 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

IUSG

IUSG Risk / Return Rank: 47
IUSG Sharpe Ratio Rank: 48
IUSG Sortino Ratio Rank: 45
IUSG Omega Ratio Rank: 45
IUSG Calmar Ratio Rank: 43
IUSG Martin Ratio Rank: 51

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. IUSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and iShares Core S&P U.S. Growth ETF (IUSG). 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	IUSG	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.60	+0.27
Sortino ratio: Return per unit of downside risk	2.56	2.20	+0.37
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.05
Calmar ratio: Return relative to maximum drawdown	2.80	2.07	+0.72
Martin ratio: Return relative to average drawdown	11.61	8.45	+3.16

NULC vs. IUSG - Sharpe Ratio Comparison

The current NULC Sharpe Ratio is 1.87, which is comparable to the IUSG Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of NULC and IUSG, 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. IUSG - Drawdown Comparison

The maximum NULC drawdown since its inception was -34.86%, smaller than the maximum IUSG drawdown of -63.41%. Use the drawdown chart below to compare losses from any high point for NULC and IUSG.

Drawdown Indicators

	NULC	IUSG	Difference
Max Drawdown Largest peak-to-trough decline	-34.86%	-63.41%	+28.55%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-13.07%	+4.16%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-22.28%	+3.75%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-32.21%	+4.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.35%	—
Current Drawdown Current decline from peak	-2.91%	-5.23%	+2.32%
Average Drawdown Average peak-to-trough decline	-6.42%	-21.40%	+14.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	3.20%	-1.06%

Volatility

NULC vs. IUSG - Volatility Comparison

The current volatility for Nuveen ESG Large-Cap ETF (NULC) is 5.02%, while iShares Core S&P U.S. Growth ETF (IUSG) has a volatility of 7.16%. This indicates that NULC experiences smaller price fluctuations and is considered to be less risky than IUSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULC	IUSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	7.16%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	10.57%	13.66%	-3.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.34%	16.92%	-3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	21.06%	-4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	20.48%	-0.50%

NULC vs. IUSG - Expense Ratio Comparison

NULC has a 0.20% expense ratio, which is higher than IUSG's 0.04% 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

NULC vs. IUSG - Dividend Comparison

NULC's dividend yield for the trailing twelve months is around 9.13%, more than IUSG's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSG iShares Core S&P U.S. Growth ETF	0.50%	0.53%	0.59%	1.12%	1.07%	0.59%	0.93%	1.64%	1.32%	1.28%	1.48%	1.29%
NULC Nuveen ESG Large-Cap ETF	9.13%	10.17%	1.86%	1.32%	2.37%	6.14%	4.07%	0.77%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NULC and IUSG in my portfolio?

NULC and IUSG have a correlation of 0.87, 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 IUSG?

IUSG has higher volatility (7.16%) compared to NULC (5.02%). In terms of maximum drawdown, NULC dropped -34.86% vs IUSG's -63.41%.

Which ETF is better, NULC or IUSG?

On 5-year performance, IUSG leads with 13.77% vs 10.62% for NULC. On fees, IUSG is cheaper at 0.04% per year. On volatility, NULC has been the lower-risk option at 5.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULC or IUSG?

Over the 5-year period, IUSG has performed better with a 13.77% return vs 10.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULC or IUSG?

IUSG is cheaper with a 0.04% expense ratio, compared with 0.20% for NULC.

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

NULC has the higher dividend yield at 9.13%, compared with 0.50% for IUSG.

What is the main difference between NULC and IUSG?

NULC tracks MSCI TIAA ESG USA Large Cap, while IUSG tracks S&P 900 Growth Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.20% for NULC and 0.04% for IUSG.

Which has better risk-adjusted returns?

NULC currently has the higher Sharpe Ratio (1.87 vs 1.60), 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.