NULC vs. RFDA

Last updated Jun 4, 2026

NULC (Nuveen ESG Large-Cap ETF) and RFDA (RiverFront Dynamic US Dividend Advantage ETF) are both Large Cap Growth Equities funds. NULC is passively managed, while RFDA is actively managed. Over the past 5 years, NULC returned 11.41%/yr vs 13.17%/yr for RFDA. Their correlation of 0.90 suggests significant overlap in exposure. NULC charges 0.20%/yr vs 0.52%/yr for RFDA.

Performance

NULC vs. RFDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap ETF (NULC) and RiverFront Dynamic US Dividend Advantage ETF (RFDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NULC achieves a 14.11% return, which is significantly higher than RFDA's 11.40% return.

NULC

• 1D: -0.57%
• 1M: 5.76%
• YTD: 14.11%
• 6M: 14.35%
• 1Y: 26.94%
• 3Y*: 21.23%
• 5Y*: 11.41%
• 10Y*: —

RFDA

• 1D: -0.92%
• 1M: 4.27%
• YTD: 11.40%
• 6M: 12.25%
• 1Y: 29.49%
• 3Y*: 19.19%
• 5Y*: 13.17%
• 10Y*: —

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

NULC vs. RFDA - 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%
RFDA RiverFront Dynamic US Dividend Advantage ETF	11.40%	16.42%	20.12%	16.98%	-8.58%	25.94%	11.26%	14.93%

Correlation

The correlation between NULC and RFDA is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 5, 2019	0.90

The correlation between NULC and RFDA has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.

NULC vs. RFDA - Sectors Allocation Comparison

Sectors	NULC	RFDA
Technology	36.2%	19.9%
Financial Services	13.4%	14.7%
Communication Services	10.9%	8.8%
Healthcare	8.7%	8.8%
Industrials	8.4%	8.9%
Consumer Cyclical	8.0%	7.0%
Consumer Defensive	6.0%	7.6%
Energy	2.4%	12.5%
Real Estate	2.3%	5.0%
Utilities	2.0%	5.0%
Basic Materials	1.7%	1.8%

Return for Risk

NULC vs. RFDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NULC

NULC Risk / Return Rank: 64
NULC Sharpe Ratio Rank: 63
NULC Sortino Ratio Rank: 62
NULC Omega Ratio Rank: 61
NULC Calmar Ratio Rank: 61
NULC Martin Ratio Rank: 70

RFDA

RFDA Risk / Return Rank: 83
RFDA Sharpe Ratio Rank: 78
RFDA Sortino Ratio Rank: 78
RFDA Omega Ratio Rank: 79
RFDA Calmar Ratio Rank: 90
RFDA 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. RFDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and RiverFront Dynamic US Dividend Advantage ETF (RFDA). 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	RFDA	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.55	-0.43
Sortino ratio: Return per unit of downside risk	2.92	3.52	-0.60
Omega ratio: Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio: Return relative to maximum drawdown	3.04	5.44	-2.40
Martin ratio: Return relative to average drawdown	13.07	19.87	-6.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NULC vs. RFDA - Sharpe Ratio Comparison

The current NULC Sharpe Ratio is 2.12, which is comparable to the RFDA Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of NULC and RFDA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NULC	RFDA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.55	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.84	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.79	+0.01

Drawdowns

NULC vs. RFDA - Drawdown Comparison

The maximum NULC drawdown since its inception was -34.86%, roughly equal to the maximum RFDA drawdown of -34.60%. Use the drawdown chart below to compare losses from any high point for NULC and RFDA.

Drawdown Indicators

	NULC	RFDA	Difference
Max Drawdown Largest peak-to-trough decline	-34.86%	-34.60%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-5.45%	-3.46%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-19.35%	+0.82%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-19.35%	-8.55%
Current Drawdown Current decline from peak	-0.57%	-0.92%	+0.35%
Average Drawdown Average peak-to-trough decline	-6.30%	-3.74%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.49%	+0.58%

Volatility

NULC vs. RFDA - Volatility Comparison

Nuveen ESG Large-Cap ETF (NULC) has a higher volatility of 3.29% compared to RiverFront Dynamic US Dividend Advantage ETF (RFDA) at 2.66%. This indicates that NULC's price experiences larger fluctuations and is considered to be riskier than RFDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULC	RFDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	2.66%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	8.47%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	11.64%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	15.73%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	16.85%	+2.83%

NULC vs. RFDA - Expense Ratio Comparison

NULC has a 0.20% expense ratio, which is lower than RFDA's 0.52% expense ratio.

Dividends

NULC vs. RFDA - Dividend Comparison

NULC's dividend yield for the trailing twelve months is around 8.91%, more than RFDA's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
RFDA RiverFront Dynamic US Dividend Advantage ETF	1.77%	1.89%	2.23%	2.68%	3.57%	1.44%	1.62%	1.87%	2.44%	1.90%	0.98%

Frequently Asked Questions

Can I hold both NULC and RFDA in my portfolio?

NULC and RFDA have a correlation of 0.80, 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 RFDA?

NULC has higher volatility (3.29%) compared to RFDA (2.66%). In terms of maximum drawdown, NULC dropped -34.86% vs RFDA's -34.60%.

Which ETF is better, NULC or RFDA?

On 5-year performance, RFDA leads with 13.17% vs 11.41% for NULC. On fees, NULC is cheaper at 0.20% per year. On volatility, RFDA has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULC or RFDA?

Over the 5-year period, RFDA has performed better with a 13.17% return vs 11.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULC or RFDA?

NULC is cheaper with a 0.20% expense ratio, compared with 0.52% for RFDA.

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

NULC has the higher dividend yield at 8.91%, compared with 1.77% for RFDA.

What is the main difference between NULC and RFDA?

They also come from different issuers: Nuveen and SS&C. Their fees differ too: 0.20% for NULC and 0.52% for RFDA.

Which has better risk-adjusted returns?

RFDA currently has the higher Sharpe Ratio (2.55 vs 2.12), 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.