NULC vs. NUSC
NULC (Nuveen ESG Large-Cap ETF) and NUSC (Nuveen ESG Small-Cap ETF) are both exchange-traded funds - NULC is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap, while NUSC is a Small Cap Growth Equities fund tracking the MSCI TIAA ESG USA Small Cap. Both are passively managed. Over the past 5 years, NULC returned 10.75%/yr vs 6.01%/yr for NUSC. Their correlation of 0.83 means they have usually moved in the same direction. NULC charges 0.20%/yr vs 0.30%/yr for NUSC.
Performance
NULC vs. NUSC - Performance Comparison
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Returns By Period
In the year-to-date period, NULC achieves a 16.79% return, which is significantly lower than NUSC's 18.57% 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%
NUSC
- 1D
- 2.06%
- 1M
- 3.04%
- 6M
- 12.07%
- YTD
- 18.57%
- 1Y
- 29.96%
- 3Y*
- 13.19%
- 5Y*
- 6.01%
- 10Y*
- —
- ALL TIME*
- 10.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $320.07K | $400.60K | $268.48K | |
| $2.00M | $2.93M | $4.63M |
NULC vs. NUSC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NULC Nuveen ESG Large-Cap ETF | 16.79% | 16.29% | 18.71% | 22.54% | -20.18% | 25.69% | 22.51% | 6.17% |
NUSC Nuveen ESG Small-Cap ETF | 18.57% | 7.72% | 8.29% | 15.72% | -17.73% | 17.51% | 23.69% | 13.15% |
Correlation
The correlation between NULC and NUSC is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.83 |
The correlation between NULC and NUSC has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
NULC vs. NUSC — Risk / Return Rank
NULC
NUSC
NULC vs. NUSC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) 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.
| NULC | NUSC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 2.98 | -0.40 |
| Martin ratioReturn relative to average drawdown | 10.27 | 10.83 | -0.57 |
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Drawdowns
NULC vs. NUSC - Drawdown Comparison
The maximum NULC drawdown since its inception was -34.86%, smaller than the maximum NUSC drawdown of -41.49%. Use the drawdown chart below to compare losses from any high point for NULC and NUSC.
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Drawdown Indicators
| NULC | NUSC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.86% | -41.49% | +6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -10.10% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.53% | -26.95% | +8.42% |
Max Drawdown (5Y)Largest decline over 5 years | -27.90% | -28.85% | +0.95% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.35% | -8.09% | +1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 2.77% | -0.54% |
Volatility
NULC vs. NUSC - Volatility Comparison
The current volatility for Nuveen ESG Large-Cap ETF (NULC) is 3.98%, while Nuveen ESG Small-Cap ETF (NUSC) has a volatility of 4.45%. This indicates that NULC experiences smaller price fluctuations and is considered to be less risky than NUSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NULC | NUSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 4.45% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 12.63% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.63% | 17.27% | -3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.00% | 21.13% | -4.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.89% | 22.26% | -2.37% |
NULC vs. NUSC - Expense Ratio Comparison
NULC has a 0.20% expense ratio, which is lower than NUSC's 0.30% expense ratio.
Dividends
NULC vs. NUSC - Dividend Comparison
NULC's dividend yield for the trailing twelve months is around 8.71%, more than NUSC's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NULC Nuveen ESG Large-Cap ETF | 8.71% | 10.17% | 1.86% | 1.32% | 2.37% | 6.14% | 4.07% | 0.77% | 0.00% | 0.00% |
NUSC Nuveen ESG Small-Cap ETF | 0.88% | 1.05% | 1.15% | 1.11% | 1.16% | 7.06% | 0.52% | 0.90% | 3.95% | 0.94% |
Frequently Asked Questions
NULC and NUSC have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUSC has higher volatility (4.45%) compared to NULC (3.98%). In terms of maximum drawdown, NULC dropped -34.86% vs NUSC's -41.49%.
On 5-year performance, NULC leads with 10.75% vs 6.01% for NUSC. 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.
Over the 5-year period, NULC has performed better with a 10.75% return vs 6.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NULC is cheaper with a 0.20% expense ratio, compared with 0.30% for NUSC.
NULC has the higher dividend yield at 8.71%, compared with 0.88% for NUSC.
NULC is categorized as Large Cap Growth Equities, while NUSC is Small Cap Growth Equities. NULC tracks MSCI TIAA ESG USA Large Cap, while NUSC tracks MSCI TIAA ESG USA Small Cap. Their fees differ too: 0.20% for NULC and 0.30% for NUSC.
NUSC currently has the higher Sharpe Ratio (1.75 vs 1.70), 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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