NULC vs. QARP

Last updated Jul 17, 2026

NULC (Nuveen ESG Large-Cap ETF) and QARP (Xtrackers Russell 1000 US Quality at a Reasonable Price ETF) are both Large Cap Growth Equities funds - NULC tracks the MSCI TIAA ESG USA Large Cap while QARP tracks the Russell 1000 2Qual/Val 5% Capped Factor Index. Both are passively managed. Over the past 5 years, NULC returned 10.79%/yr vs 12.09%/yr for QARP. Their correlation of 0.91 suggests significant overlap in exposure. NULC charges 0.20%/yr vs 0.19%/yr for QARP.

Performance

NULC vs. QARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap ETF (NULC) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NULC having a 13.04% return and QARP slightly lower at 12.78%.

NULC

• 1D: -0.66%
• 1M: 0.03%
• 6M: 10.11%
• YTD: 13.04%
• 1Y: 21.44%
• 3Y*: 18.48%
• 5Y*: 10.79%
• 10Y*: —

QARP

• 1D: 0.71%
• 1M: 1.10%
• 6M: 9.34%
• YTD: 12.78%
• 1Y: 25.00%
• 3Y*: 17.33%
• 5Y*: 12.09%
• 10Y*: —

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

NULC vs. QARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NULC Nuveen ESG Large-Cap ETF	13.04%	16.29%	18.71%	22.54%	-20.18%	25.69%	22.51%	6.17%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	12.78%	13.99%	18.94%	23.03%	-14.62%	31.82%	14.83%	20.27%

Correlation

The correlation between NULC and QARP is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.91

The correlation between NULC and QARP has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

NULC vs. QARP - Sectors Allocation Comparison

Sectors	NULC	QARP
Technology	30.1%	23.5%
Financial Services	17.1%	12.1%
Healthcare	10.6%	13.9%
Industrials	9.5%	8.5%
Communication Services	9.2%	11.3%
Consumer Cyclical	7.6%	9.6%
Consumer Defensive	5.8%	9.6%
Energy	3.4%	5.8%
Utilities	2.2%	2.0%
Real Estate	2.2%	1.0%
Basic Materials	2.1%	2.3%

Return for Risk

NULC vs. QARP — 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: 60
NULC Sortino Ratio Rank: 59
NULC Omega Ratio Rank: 56
NULC Calmar Ratio Rank: 61
NULC Martin Ratio Rank: 69

QARP

QARP Risk / Return Rank: 87
QARP Sharpe Ratio Rank: 90
QARP Sortino Ratio Rank: 89
QARP Omega Ratio Rank: 88
QARP Calmar Ratio Rank: 82
QARP Martin Ratio Rank: 89

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. QARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). 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	QARP	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.38	-0.76
Sortino ratio: Return per unit of downside risk	2.24	3.34	-1.09
Omega ratio: Gain probability vs. loss probability	1.28	1.43	-0.15
Calmar ratio: Return relative to maximum drawdown	2.42	3.46	-1.04
Martin ratio: Return relative to average drawdown	9.81	15.38	-5.57

NULC vs. QARP - Sharpe Ratio Comparison

The current NULC Sharpe Ratio is 1.61, which is lower than the QARP Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of NULC and QARP, 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. QARP - Drawdown Comparison

The maximum NULC drawdown since its inception was -34.86%, roughly equal to the maximum QARP drawdown of -35.44%. Use the drawdown chart below to compare losses from any high point for NULC and QARP.

Drawdown Indicators

	NULC	QARP	Difference
Max Drawdown Largest peak-to-trough decline	-34.86%	-35.44%	+0.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-7.26%	-1.65%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-15.65%	-2.88%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-22.75%	-5.15%
Current Drawdown Current decline from peak	-1.57%	0.00%	-1.57%
Average Drawdown Average peak-to-trough decline	-6.38%	-4.39%	-1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.63%	+0.56%

Volatility

NULC vs. QARP - Volatility Comparison

Nuveen ESG Large-Cap ETF (NULC) has a higher volatility of 3.31% compared to Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP) at 2.76%. This indicates that NULC's price experiences larger fluctuations and is considered to be riskier than QARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULC	QARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	2.76%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	8.22%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	10.58%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	15.54%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.92%	19.55%	+0.37%

NULC vs. QARP - Expense Ratio Comparison

NULC has a 0.20% expense ratio, which is higher than QARP's 0.19% 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. QARP - Dividend Comparison

NULC's dividend yield for the trailing twelve months is around 9.00%, more than QARP's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NULC Nuveen ESG Large-Cap ETF	9.00%	10.17%	1.86%	1.32%	2.37%	6.14%	4.07%	0.77%	0.00%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	1.02%	1.14%	1.39%	1.28%	1.68%	1.34%	1.61%	1.85%	1.39%

Frequently Asked Questions

Can I hold both NULC and QARP in my portfolio?

NULC and QARP have a correlation of 0.83, 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 QARP?

NULC has higher volatility (3.31%) compared to QARP (2.76%). In terms of maximum drawdown, NULC dropped -34.86% vs QARP's -35.44%.

Which ETF is better, NULC or QARP?

On 5-year performance, QARP leads with 12.09% vs 10.79% for NULC. On fees, QARP is cheaper at 0.19% per year. On volatility, QARP has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULC or QARP?

Over the 5-year period, QARP has performed better with a 12.09% return vs 10.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULC or QARP?

QARP is cheaper with a 0.19% expense ratio, compared with 0.20% for NULC.

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

NULC has the higher dividend yield at 9.00%, compared with 1.02% for QARP.

What is the main difference between NULC and QARP?

NULC tracks MSCI TIAA ESG USA Large Cap, while QARP tracks Russell 1000 2Qual/Val 5% Capped Factor Index. They also come from different issuers: Nuveen and Deutsche Bank. Their fees differ too: 0.20% for NULC and 0.19% for QARP.

Which has better risk-adjusted returns?

QARP currently has the higher Sharpe Ratio (2.38 vs 1.61), 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.