NULG vs. NURE

Last updated Jun 5, 2026

NULG (Nuveen ESG Large-Cap Growth ETF) and NURE (Nuveen Short-Term REIT ETF) are both exchange-traded funds - NULG is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap Growth, while NURE is a REIT fund tracking the Dow Jones U.S. Select Short-Term REIT Index. Both are passively managed. Over the past 5 years, NULG returned 14.66%/yr vs 2.02%/yr for NURE. At a 0.42 correlation, their price movements are largely independent. NULG charges 0.25%/yr vs 0.35%/yr for NURE.

Performance

NULG vs. NURE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap Growth ETF (NULG) and Nuveen Short-Term REIT ETF (NURE). 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 NURE's 13.59% return.

NULG

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

NURE

• 1D: 2.34%
• 1M: 5.22%
• YTD: 13.59%
• 6M: 16.03%
• 1Y: 10.17%
• 3Y*: 5.79%
• 5Y*: 2.02%
• 10Y*: —

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

NULG vs. NURE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NULG Nuveen ESG Large-Cap Growth ETF	16.76%	14.07%	23.75%	42.71%	-28.43%	28.06%	39.58%	39.23%	0.31%	24.57%
NURE Nuveen Short-Term REIT ETF	13.59%	-7.51%	6.65%	13.09%	-28.48%	53.41%	-7.24%	25.10%	0.02%	8.41%

Correlation

The correlation between NULG and NURE is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 21, 2016	0.42

Over the past year, the correlation between NULG and NURE has dropped to 0.15 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

NULG vs. NURE - Sectors Allocation Comparison

Sectors	NULG	NURE
Technology	56.5%	-
Consumer Cyclical	9.8%	-
Industrials	9.4%	-
Financial Services	7.1%	-
Communication Services	6.5%	-
Healthcare	5.5%	-
Consumer Defensive	2.1%	-
Basic Materials	1.9%	-
Real Estate	1.2%	100.0%
Energy	-	-
Utilities	-	-

Return for Risk

NULG vs. NURE — 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

NURE

NURE Risk / Return Rank: 21
NURE Sharpe Ratio Rank: 19
NURE Sortino Ratio Rank: 20
NURE Omega Ratio Rank: 19
NURE Calmar Ratio Rank: 24
NURE Martin Ratio Rank: 20

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. NURE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap Growth ETF (NULG) and Nuveen Short-Term REIT ETF (NURE). 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	NURE	Difference
Sharpe ratio: Return per unit of total volatility	1.56	0.64	+0.92
Sortino ratio: Return per unit of downside risk	2.15	1.03	+1.13
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.16
Calmar ratio: Return relative to maximum drawdown	1.83	1.12	+0.71
Martin ratio: Return relative to average drawdown	6.22	2.32	+3.90
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. NURE - Sharpe Ratio Comparison

The current NULG Sharpe Ratio is 1.56, which is higher than the NURE Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of NULG and NURE, 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	NURE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	0.64	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.10	+0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.28	+0.62

Drawdowns

NULG vs. NURE - Drawdown Comparison

The maximum NULG drawdown since its inception was -36.17%, smaller than the maximum NURE drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for NULG and NURE.

Drawdown Indicators

	NULG	NURE	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-46.05%	+9.88%
Max Drawdown (1Y) Largest decline over 1 year	-14.50%	-9.13%	-5.37%
Max Drawdown (3Y) Largest decline over 3 years	-22.28%	-21.03%	-1.25%
Max Drawdown (5Y) Largest decline over 5 years	-36.17%	-35.98%	-0.19%
Current Drawdown Current decline from peak	-0.99%	-10.45%	+9.46%
Average Drawdown Average peak-to-trough decline	-6.84%	-12.30%	+5.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	4.39%	-0.13%

Volatility

NULG vs. NURE - Volatility Comparison

Nuveen ESG Large-Cap Growth ETF (NULG) and Nuveen Short-Term REIT ETF (NURE) have volatilities of 4.80% and 4.58%, 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

	NULG	NURE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	4.58%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	13.55%	11.65%	+1.90%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	15.95%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	19.67%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	21.81%	-0.42%

NULG vs. NURE - Expense Ratio Comparison

NULG has a 0.25% expense ratio, which is lower than NURE's 0.35% expense ratio.

Dividends

NULG vs. NURE - Dividend Comparison

NULG's dividend yield for the trailing twelve months is around 0.10%, less than NURE's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
NURE Nuveen Short-Term REIT ETF	4.38%	4.56%	3.51%	3.73%	2.80%	1.34%	3.41%	3.28%	4.11%	3.86%	0.48%

Frequently Asked Questions

Can I hold both NULG and NURE in my portfolio?

NULG and NURE have a correlation of 0.15, 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 NURE?

NULG has higher volatility (4.80%) compared to NURE (4.58%). In terms of maximum drawdown, NULG dropped -36.17% vs NURE's -46.05%.

Which ETF is better, NULG or NURE?

On 5-year performance, NULG leads with 14.66% vs 2.02% for NURE. On fees, NULG is cheaper at 0.25% per year. On volatility, NURE has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULG or NURE?

Over the 5-year period, NULG has performed better with a 14.66% return vs 2.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULG or NURE?

NULG is cheaper with a 0.25% expense ratio, compared with 0.35% for NURE.

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

NURE has the higher dividend yield at 4.38%, compared with 0.10% for NULG.

What is the main difference between NULG and NURE?

NULG is categorized as Large Cap Growth Equities, while NURE is REIT. NULG tracks MSCI TIAA ESG USA Large Cap Growth, while NURE tracks Dow Jones U.S. Select Short-Term REIT Index. Their fees differ too: 0.25% for NULG and 0.35% for NURE.

Which has better risk-adjusted returns?

NULG currently has the higher Sharpe Ratio (1.56 vs 0.64), 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.