NULG vs. NUSC
NULG (Nuveen ESG Large-Cap Growth ETF) and NUSC (Nuveen ESG Small-Cap ETF) are both exchange-traded funds - NULG is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap Growth, while NUSC is a Small Cap Growth Equities fund tracking the MSCI TIAA ESG USA Small Cap. Both are passively managed. Over the past 5 years, NULG returned 14.66%/yr vs 4.87%/yr for NUSC. A 0.72 correlation means they provide meaningful diversification when combined. NULG charges 0.25%/yr vs 0.30%/yr for NUSC.
Performance
NULG vs. NUSC - Performance Comparison
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Returns By Period
In the year-to-date period, NULG achieves a 16.76% return, which is significantly higher than NUSC's 13.93% return.
NULG
- 1D
- -0.39%
- 1M
- 8.41%
- YTD
- 16.76%
- 6M
- 15.85%
- 1Y
- 26.42%
- 3Y*
- 24.67%
- 5Y*
- 14.66%
- 10Y*
- —
NUSC
- 1D
- 0.93%
- 1M
- 3.29%
- YTD
- 13.93%
- 6M
- 13.54%
- 1Y
- 28.92%
- 3Y*
- 14.10%
- 5Y*
- 4.87%
- 10Y*
- —
NULG vs. NUSC - 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% |
NUSC Nuveen ESG Small-Cap ETF | 13.93% | 7.72% | 8.29% | 15.72% | -17.73% | 17.51% | 23.69% | 27.09% | -9.40% | 16.50% |
Correlation
The correlation between NULG and NUSC is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2016 | 0.72 |
The correlation between NULG and NUSC has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.
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Return for Risk
NULG vs. NUSC — Risk / Return Rank
NULG
NUSC
NULG vs. NUSC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap Growth ETF (NULG) and Nuveen ESG Small-Cap ETF (NUSC). 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 | NUSC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.29 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.88 | -1.04 |
| Martin ratioReturn relative to average drawdown | 6.22 | 10.35 | -4.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NULG | NUSC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.70 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.23 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.45 | +0.45 |
Drawdowns
NULG vs. NUSC - Drawdown Comparison
The maximum NULG drawdown since its inception was -36.17%, smaller than the maximum NUSC drawdown of -41.49%. Use the drawdown chart below to compare losses from any high point for NULG and NUSC.
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Drawdown Indicators
| NULG | NUSC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -41.49% | +5.32% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -10.10% | -4.40% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -26.95% | +4.67% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -28.85% | -7.32% |
Current DrawdownCurrent decline from peak | -0.99% | 0.00% | -0.99% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -8.21% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.26% | 2.80% | +1.46% |
Volatility
NULG vs. NUSC - Volatility Comparison
Nuveen ESG Large-Cap Growth ETF (NULG) has a higher volatility of 4.80% compared to Nuveen ESG Small-Cap ETF (NUSC) at 4.39%. This indicates that NULG's price experiences larger fluctuations and is considered to be riskier than NUSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NULG | NUSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 4.39% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 13.55% | 12.19% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 17.08% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.51% | 21.15% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 22.35% | -0.96% |
NULG vs. NUSC - Expense Ratio Comparison
NULG has a 0.25% expense ratio, which is lower than NUSC's 0.30% expense ratio.
Dividends
NULG vs. NUSC - Dividend Comparison
NULG's dividend yield for the trailing twelve months is around 0.10%, less than NUSC's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
NUSC Nuveen ESG Small-Cap ETF | 0.92% | 1.05% | 1.15% | 1.11% | 1.16% | 7.06% | 0.52% | 0.90% | 3.95% | 0.94% |
Frequently Asked Questions
NULG and NUSC have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NULG has higher volatility (4.80%) compared to NUSC (4.39%). In terms of maximum drawdown, NULG dropped -36.17% vs NUSC's -41.49%.
On 5-year performance, NULG leads with 14.66% vs 4.87% for NUSC. On fees, NULG is cheaper at 0.25% per year. On volatility, NUSC has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NULG has performed better with a 14.66% return vs 4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NULG is cheaper with a 0.25% expense ratio, compared with 0.30% for NUSC.
NUSC has the higher dividend yield at 0.92%, compared with 0.10% for NULG.
NULG is categorized as Large Cap Growth Equities, while NUSC is Small Cap Growth Equities. NULG tracks MSCI TIAA ESG USA Large Cap Growth, while NUSC tracks MSCI TIAA ESG USA Small Cap. Their fees differ too: 0.25% for NULG and 0.30% for NUSC.
NUSC currently has the higher Sharpe Ratio (1.70 vs 1.56), 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.
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