NULC vs. NUBD
NULC (Nuveen ESG Large-Cap ETF) and NUBD (Nuveen ESG U.S. Aggregate Bond ETF) are both exchange-traded funds - NULC is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap, while NUBD is a Intermediate Core Bond fund tracking the Bloomberg MSCI U.S. Aggregate ESG Select Index. Both are passively managed. Over the past 5 years, NULC returned 11.41%/yr vs -0.06%/yr for NUBD. At a 0.11 correlation, their price movements are largely independent. NULC charges 0.20%/yr vs 0.15%/yr for NUBD.
Performance
NULC vs. NUBD - Performance Comparison
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Returns By Period
In the year-to-date period, NULC achieves a 14.11% return, which is significantly higher than NUBD's 0.20% return.
NULC
- 1D
- -0.57%
- 1M
- 5.76%
- YTD
- 14.11%
- 6M
- 14.35%
- 1Y
- 26.94%
- 3Y*
- 21.23%
- 5Y*
- 11.41%
- 10Y*
- —
NUBD
- 1D
- -0.18%
- 1M
- 0.31%
- YTD
- 0.20%
- 6M
- 0.09%
- 1Y
- 4.97%
- 3Y*
- 3.77%
- 5Y*
- -0.06%
- 10Y*
- —
NULC vs. NUBD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NULC Nuveen ESG Large-Cap ETF | 14.11% | 16.29% | 18.71% | 22.54% | -20.18% | 25.69% | 22.51% | 16.89% |
NUBD Nuveen ESG U.S. Aggregate Bond ETF | 0.20% | 6.75% | 1.31% | 5.42% | -12.90% | -2.19% | 7.17% | 3.15% |
Correlation
The correlation between NULC and NUBD is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2019 | 0.11 |
The correlation between NULC and NUBD shifts across timeframes, from 0.11 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NULC vs. NUBD — Risk / Return Rank
NULC
NUBD
NULC vs. NUBD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and Nuveen ESG U.S. Aggregate Bond ETF (NUBD). 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.
| NULC | NUBD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.23 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 1.81 | +1.23 |
| Martin ratioReturn relative to average drawdown | 13.07 | 5.38 | +7.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NULC | NUBD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.32 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | -0.01 | +0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.29 | +0.51 |
Drawdowns
NULC vs. NUBD - Drawdown Comparison
The maximum NULC drawdown since its inception was -34.86%, which is greater than NUBD's maximum drawdown of -19.45%. Use the drawdown chart below to compare losses from any high point for NULC and NUBD.
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Drawdown Indicators
| NULC | NUBD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.86% | -19.45% | -15.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -2.76% | -6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.53% | -5.94% | -12.59% |
Max Drawdown (5Y)Largest decline over 5 years | -27.90% | -17.90% | -10.00% |
Current DrawdownCurrent decline from peak | -0.57% | -3.93% | +3.36% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -6.05% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 0.93% | +1.14% |
Volatility
NULC vs. NUBD - Volatility Comparison
Nuveen ESG Large-Cap ETF (NULC) has a higher volatility of 3.29% compared to Nuveen ESG U.S. Aggregate Bond ETF (NUBD) at 1.23%. This indicates that NULC's price experiences larger fluctuations and is considered to be riskier than NUBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NULC | NUBD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.29% | 1.23% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 2.61% | +7.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.80% | 3.79% | +9.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 5.99% | +10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.68% | 5.12% | +14.56% |
NULC vs. NUBD - Expense Ratio Comparison
NULC has a 0.20% expense ratio, which is higher than NUBD's 0.15% 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. NUBD - Dividend Comparison
NULC's dividend yield for the trailing twelve months is around 8.91%, more than NUBD's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NUBD Nuveen ESG U.S. Aggregate Bond ETF | 3.99% | 3.90% | 3.51% | 2.99% | 2.83% | 2.05% | 2.21% | 2.66% | 3.08% | 0.58% |
NULC Nuveen ESG Large-Cap ETF | 8.91% | 10.17% | 1.86% | 1.32% | 2.37% | 6.14% | 4.07% | 0.77% | 0.00% | 0.00% |
Frequently Asked Questions
NULC and NUBD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NULC has higher volatility (3.29%) compared to NUBD (1.23%). In terms of maximum drawdown, NULC dropped -34.86% vs NUBD's -19.45%.
On 5-year performance, NULC leads with 11.41% vs -0.06% for NUBD. On fees, NUBD is cheaper at 0.15% per year. On volatility, NUBD has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NULC has performed better with a 11.41% return vs -0.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NUBD is cheaper with a 0.15% expense ratio, compared with 0.20% for NULC.
NULC has the higher dividend yield at 8.91%, compared with 3.99% for NUBD.
NULC is categorized as Large Cap Growth Equities, while NUBD is Intermediate Core Bond. NULC tracks MSCI TIAA ESG USA Large Cap, while NUBD tracks Bloomberg MSCI U.S. Aggregate ESG Select Index. Their fees differ too: 0.20% for NULC and 0.15% for NUBD.
NULC currently has the higher Sharpe Ratio (2.12 vs 1.32), 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.
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