NULC vs. SCHX

Last updated Aug 4, 2026

NULC (Nuveen ESG Large-Cap ETF) and SCHX (Schwab U.S. Large-Cap ETF) are both exchange-traded funds - NULC is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap, while SCHX is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Large-Cap Total Stock Market Index. Both are passively managed. Over the past 5 years, NULC returned 10.52%/yr vs 12.49%/yr for SCHX. Their 0.97 correlation means they have historically moved very closely together. NULC charges 0.20%/yr vs 0.03%/yr for SCHX.

Performance

NULC vs. SCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap ETF (NULC) and Schwab U.S. Large-Cap ETF (SCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NULC achieves a 14.57% return, which is significantly higher than SCHX's 11.65% return.

NULC

• 1D: 1.14%
• 1M: 2.03%
• 6M: 10.88%
• YTD: 14.57%
• 1Y: 22.46%
• 3Y*: 19.38%
• 5Y*: 10.52%
• 10Y*: —
• ALL TIME*: 13.83%

SCHX

• 1D: 1.49%
• 1M: 1.63%
• 6M: 9.65%
• YTD: 11.65%
• 1Y: 22.69%
• 3Y*: 20.73%
• 5Y*: 12.49%
• 10Y*: 15.03%
• ALL TIME*: 14.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NULC Nuveen ESG Large-Cap ETF	$337.26K	$413.51K	$267.63K
SCHX Schwab U.S. Large-Cap ETF	$244.71M	$275.73M	$370.20M

NULC vs. SCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NULC Nuveen ESG Large-Cap ETF	14.57%	16.29%	18.71%	22.54%	-20.18%	25.69%	22.51%	6.17%
SCHX Schwab U.S. Large-Cap ETF	11.65%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	18.78%

Correlation

The correlation between NULC and SCHX is 0.94, 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.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.97

The correlation between NULC and SCHX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

NULC vs. SCHX - Sectors Allocation Comparison

Sectors	NULC	SCHX
Technology	40.7%	36.7%
Financial Services	12.4%	11.7%
Healthcare	9.9%	9.2%
Industrials	9.0%	9.4%
Consumer Cyclical	7.5%	9.6%
Communication Services	6.7%	9.7%
Consumer Defensive	6.3%	4.6%
Energy	2.1%	3.1%
Utilities	2.0%	2.2%
Real Estate	2.0%	2.1%
Basic Materials	1.5%	1.8%

Return for Risk

NULC vs. SCHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NULC

NULC Risk / Return Rank: 69
NULC Sharpe Ratio Rank: 68
NULC Sortino Ratio Rank: 68
NULC Omega Ratio Rank: 64
NULC Calmar Ratio Rank: 69
NULC Martin Ratio Rank: 75

SCHX

SCHX Risk / Return Rank: 76
SCHX Sharpe Ratio Rank: 76
SCHX Sortino Ratio Rank: 75
SCHX Omega Ratio Rank: 75
SCHX Calmar Ratio Rank: 71
SCHX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NULC vs. SCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap ETF (NULC) and Schwab U.S. Large-Cap ETF (SCHX). 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	SCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.77	-0.10
Sortino ratio: Return per unit of downside risk	2.33	2.44	-0.11
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	2.53	2.53	+0.01
Martin ratio: Return relative to average drawdown	10.07	10.64	-0.57

NULC vs. SCHX - Sharpe Ratio Comparison

The current NULC Sharpe Ratio is 1.67, which is comparable to the SCHX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of NULC and SCHX, 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. SCHX - Drawdown Comparison

The maximum NULC drawdown since its inception was -34.86%, roughly equal to the maximum SCHX drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for NULC and SCHX.

Drawdown Indicators

	NULC	SCHX	Difference
Max Drawdown Largest peak-to-trough decline	-34.86%	-34.33%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-9.02%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-19.04%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-25.41%	-2.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.33%	—
Current Drawdown Current decline from peak	-0.24%	0.00%	-0.24%
Average Drawdown Average peak-to-trough decline	-6.35%	-3.95%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.14%	+0.09%

Volatility

NULC vs. SCHX - Volatility Comparison

Nuveen ESG Large-Cap ETF (NULC) and Schwab U.S. Large-Cap ETF (SCHX) have volatilities of 3.66% and 3.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULC	SCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	3.70%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	10.62%	10.19%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	12.91%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	17.25%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.88%	18.16%	+1.72%

NULC vs. SCHX - Expense Ratio Comparison

NULC has a 0.20% expense ratio, which is higher than SCHX's 0.03% 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. SCHX - Dividend Comparison

NULC's dividend yield for the trailing twelve months is around 8.88%, more than SCHX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NULC Nuveen ESG Large-Cap ETF	8.88%	10.17%	1.86%	1.32%	2.37%	6.14%	4.07%	0.77%	0.00%	0.00%	0.00%	0.00%
SCHX Schwab U.S. Large-Cap ETF	1.02%	1.09%	1.22%	1.39%	1.64%	1.22%	1.64%	1.82%	2.02%	1.70%	1.92%	2.04%

Frequently Asked Questions

Can I hold both NULC and SCHX in my portfolio?

With a correlation of 0.94, NULC and SCHX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NULC or SCHX?

SCHX has higher volatility (3.70%) compared to NULC (3.66%). In terms of maximum drawdown, NULC dropped -34.86% vs SCHX's -34.33%.

Which ETF is better, NULC or SCHX?

On 5-year performance, SCHX leads with 12.49% vs 10.52% for NULC. On fees, SCHX is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULC or SCHX?

Over the 5-year period, SCHX has performed better with a 12.49% return vs 10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULC or SCHX?

SCHX is cheaper with a 0.03% expense ratio, compared with 0.20% for NULC.

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

NULC has the higher dividend yield at 8.88%, compared with 1.02% for SCHX.

What is the main difference between NULC and SCHX?

NULC is categorized as Large Cap Growth Equities, while SCHX is Large Cap Blend Equities. NULC tracks MSCI TIAA ESG USA Large Cap, while SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index. They also come from different issuers: Nuveen and Charles Schwab. Their fees differ too: 0.20% for NULC and 0.03% for SCHX.

Which has better risk-adjusted returns?

SCHX currently has the higher Sharpe Ratio (1.77 vs 1.67), 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.