NULG vs. NUGO

Last updated Jun 5, 2026

NULG (Nuveen ESG Large-Cap Growth ETF) and NUGO (Nuveen Growth Opportunities ETF) are both Large Cap Growth Equities funds from Nuveen. NULG is passively managed, while NUGO is actively managed. Over the past 3 years, NULG returned 24.67%/yr vs 25.80%/yr for NUGO. Their correlation of 0.94 suggests significant overlap in exposure. NULG charges 0.25%/yr vs 0.56%/yr for NUGO.

Performance

NULG vs. NUGO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap Growth ETF (NULG) and Nuveen Growth Opportunities ETF (NUGO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NULG achieves a 16.76% return, which is significantly higher than NUGO's 9.96% return.

NULG

• 1D: -0.39%
• 1M: 8.41%
• YTD: 16.76%
• 6M: 15.85%
• 1Y: 26.42%
• 3Y*: 24.67%
• 5Y*: 14.66%
• 10Y*: —

NUGO

• 1D: -0.25%
• 1M: 4.72%
• YTD: 9.96%
• 6M: 8.88%
• 1Y: 26.78%
• 3Y*: 25.80%
• 5Y*: —
• 10Y*: —

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

NULG vs. NUGO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NULG Nuveen ESG Large-Cap Growth ETF	16.76%	14.07%	23.75%	42.71%	-28.43%	9.17%
NUGO Nuveen Growth Opportunities ETF	9.96%	14.91%	35.95%	45.37%	-32.73%	7.78%

Correlation

The correlation between NULG and NUGO is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.94

The correlation between NULG and NUGO has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

NULG vs. NUGO - Sectors Allocation Comparison

Sectors	NULG	NUGO
Technology	56.5%	54.6%
Consumer Cyclical	9.8%	12.3%
Industrials	9.4%	9.0%
Financial Services	7.1%	3.3%
Communication Services	6.5%	13.2%
Healthcare	5.5%	6.5%
Consumer Defensive	2.1%	0.9%
Basic Materials	1.9%	1.6%
Real Estate	1.2%	-
Energy	-	-
Utilities	-	0.2%

Return for Risk

NULG vs. NUGO — Risk / Return Rank

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

NULG

NULG Risk / Return Rank: 42
NULG Sharpe Ratio Rank: 46
NULG Sortino Ratio Rank: 43
NULG Omega Ratio Rank: 44
NULG Calmar Ratio Rank: 37
NULG Martin Ratio Rank: 40

NUGO

NUGO Risk / Return Rank: 38
NUGO Sharpe Ratio Rank: 44
NUGO Sortino Ratio Rank: 42
NUGO Omega Ratio Rank: 41
NUGO Calmar Ratio Rank: 32
NUGO Martin Ratio Rank: 33

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.

NULG vs. NUGO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap Growth ETF (NULG) and Nuveen Growth Opportunities ETF (NUGO). 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.

	NULG	NUGO	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.52	+0.04
Sortino ratio: Return per unit of downside risk	2.15	2.11	+0.05
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	1.83	1.53	+0.30
Martin ratio: Return relative to average drawdown	6.22	4.99	+1.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NULG vs. NUGO - Sharpe Ratio Comparison

The current NULG Sharpe Ratio is 1.56, which is comparable to the NUGO Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of NULG and NUGO, 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

	NULG	NUGO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.52	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.59	+0.31

Drawdowns

NULG vs. NUGO - Drawdown Comparison

The maximum NULG drawdown since its inception was -36.17%, roughly equal to the maximum NUGO drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for NULG and NUGO.

Drawdown Indicators

	NULG	NUGO	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-38.01%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	-14.50%	-17.54%	+3.04%
Max Drawdown (3Y) Largest decline over 3 years	-22.28%	-25.12%	+2.84%
Max Drawdown (5Y) Largest decline over 5 years	-36.17%	—	—
Current Drawdown Current decline from peak	-0.99%	-1.64%	+0.65%
Average Drawdown Average peak-to-trough decline	-6.84%	-12.05%	+5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	5.38%	-1.12%

Volatility

NULG vs. NUGO - Volatility Comparison

Nuveen ESG Large-Cap Growth ETF (NULG) has a higher volatility of 4.80% compared to Nuveen Growth Opportunities ETF (NUGO) at 4.19%. This indicates that NULG's price experiences larger fluctuations and is considered to be riskier than NUGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULG	NUGO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	4.19%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	13.55%	13.35%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	17.70%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	23.11%	-1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	23.11%	-1.72%

NULG vs. NUGO - Expense Ratio Comparison

NULG has a 0.25% expense ratio, which is lower than NUGO's 0.56% expense ratio.

Dividends

NULG vs. NUGO - Dividend Comparison

NULG's dividend yield for the trailing twelve months is around 0.10%, while NUGO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUGO Nuveen Growth Opportunities ETF	0.00%	0.00%	0.00%	0.19%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%
NULG Nuveen ESG Large-Cap Growth ETF	0.10%	0.11%	0.16%	0.43%	0.40%	5.08%	2.68%	1.10%	3.73%	0.61%

Frequently Asked Questions

Can I hold both NULG and NUGO in my portfolio?

NULG and NUGO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NULG or NUGO?

NULG has higher volatility (4.80%) compared to NUGO (4.19%). In terms of maximum drawdown, NULG dropped -36.17% vs NUGO's -38.01%.

Which ETF is better, NULG or NUGO?

On 3-year performance, NUGO leads with 25.80% vs 24.67% for NULG. On fees, NULG is cheaper at 0.25% per year. On volatility, NUGO has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULG or NUGO?

Over the 3-year period, NUGO has performed better with a 25.80% return vs 24.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULG or NUGO?

NULG is cheaper with a 0.25% expense ratio, compared with 0.56% for NUGO.

Which ETF pays a higher dividend yield, NULG or NUGO?

NULG has the higher dividend yield at 0.10%, compared with 0.00% for NUGO.

What is the main difference between NULG and NUGO?

Their fees differ too: 0.25% for NULG and 0.56% for NUGO.

Which has better risk-adjusted returns?

NULG currently has the higher Sharpe Ratio (1.56 vs 1.52), 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.