NULV vs. DHLX

Last updated Jun 5, 2026

NULV (Nuveen ESG Large-Cap Value ETF) and DHLX (Diamond Hill Large Cap Concentrated ETF) are both Large Cap Value Equities funds - NULV tracks the MSCI TIAA ESG USA Large Cap Value while DHLX tracks the Actively Managed. Both are passively managed. A 0.74 correlation means they provide meaningful diversification when combined. NULV charges 0.26%/yr vs 0.55%/yr for DHLX.

Performance

NULV vs. DHLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap Value ETF (NULV) and Diamond Hill Large Cap Concentrated ETF (DHLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NULV achieves a 13.87% return, which is significantly higher than DHLX's -0.78% return.

NULV

• 1D: 0.92%
• 1M: 2.54%
• YTD: 13.87%
• 6M: 14.07%
• 1Y: 28.31%
• 3Y*: 17.85%
• 5Y*: 8.68%
• 10Y*: —

DHLX

• 1D: 0.95%
• 1M: -2.00%
• YTD: -0.78%
• 6M: 1.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NULV vs. DHLX - Yearly Performance Comparison

	2026 (YTD)	2025
NULV Nuveen ESG Large-Cap Value ETF	13.87%	4.52%
DHLX Diamond Hill Large Cap Concentrated ETF	-0.78%	1.24%

Correlation

The correlation between NULV and DHLX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.74

Return for Risk

NULV vs. DHLX — Risk / Return Rank

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

NULV

NULV Risk / Return Rank: 82
NULV Sharpe Ratio Rank: 83
NULV Sortino Ratio Rank: 86
NULV Omega Ratio Rank: 81
NULV Calmar Ratio Rank: 78
NULV Martin Ratio Rank: 82

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.

NULV vs. DHLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap Value ETF (NULV) and Diamond Hill Large Cap Concentrated ETF (DHLX). 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.

	NULV	DHLX	Difference
Sharpe ratio: Return per unit of total volatility	2.66	—	—
Sortino ratio: Return per unit of downside risk	3.81	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	3.91	—	—
Martin ratio: Return relative to average drawdown	16.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NULV	DHLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.06	+0.55

Drawdowns

NULV vs. DHLX - Drawdown Comparison

The maximum NULV drawdown since its inception was -36.99%, which is greater than DHLX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for NULV and DHLX.

Drawdown Indicators

	NULV	DHLX	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-8.40%	-28.59%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	—	—
Current Drawdown Current decline from peak	0.00%	-4.66%	+4.66%
Average Drawdown Average peak-to-trough decline	-4.97%	-2.40%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	—	—

Volatility

Volatility by Period

	NULV	DHLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	11.45%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.33%	11.45%	+2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.02%	11.45%	+5.57%

NULV vs. DHLX - Expense Ratio Comparison

NULV has a 0.26% expense ratio, which is lower than DHLX's 0.55% expense ratio.

Dividends

NULV vs. DHLX - Dividend Comparison

NULV's dividend yield for the trailing twelve months is around 1.44%, more than DHLX's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHLX Diamond Hill Large Cap Concentrated ETF	0.41%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NULV Nuveen ESG Large-Cap Value ETF	1.44%	1.64%	2.09%	2.55%	2.12%	4.52%	1.42%	1.47%	3.73%	1.22%

Frequently Asked Questions

Can I hold both NULV and DHLX in my portfolio?

NULV and DHLX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NULV or DHLX?

On fees, NULV is cheaper at 0.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NULV or DHLX?

NULV is cheaper with a 0.26% expense ratio, compared with 0.55% for DHLX.

Which ETF pays a higher dividend yield, NULV or DHLX?

NULV has the higher dividend yield at 1.44%, compared with 0.41% for DHLX.

What is the main difference between NULV and DHLX?

NULV tracks MSCI TIAA ESG USA Large Cap Value, while DHLX tracks Actively Managed. They also come from different issuers: Nuveen and Diamond Hill. Their fees differ too: 0.26% for NULV and 0.55% for DHLX.