NULV vs. NHYM

Last updated Apr 2, 2026

Compare and contrast key facts about Nuveen ESG Large-Cap Value ETF (NULV) and Nuveen High Yield Municipal Income ETF (NHYM).

NULV and NHYM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NULV is a passively managed fund by Nuveen that tracks the performance of the MSCI TIAA ESG USA Large Cap Value. It was launched on Dec 13, 2016. NHYM is an actively managed fund by Nuveen. It was launched on Jan 22, 2025.

Performance

NULV vs. NHYM - Performance Comparison

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

NULV vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
NULV Nuveen ESG Large-Cap Value ETF	1.78%	11.88%
NHYM Nuveen High Yield Municipal Income ETF	0.74%	3.25%

Returns By Period

In the year-to-date period, NULV achieves a 1.78% return, which is significantly higher than NHYM's 0.74% return.

NULV

• 1D: 0.77%
• 1M: -4.14%
• YTD: 1.78%
• 6M: 6.21%
• 1Y: 15.16%
• 3Y*: 12.72%
• 5Y*: 7.40%
• 10Y*: —

NHYM

• 1D: 0.47%
• 1M: -1.24%
• YTD: 0.74%
• 6M: 2.75%
• 1Y: 3.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NULV vs. NHYM - Expense Ratio Comparison

NULV has a 0.26% expense ratio, which is lower than NHYM's 0.35% expense ratio.

NHYM

Nuveen High Yield Municipal Income ETF

NULV

Nuveen ESG Large-Cap Value ETF

Return for Risk

NULV vs. NHYM — Risk / Return Rank

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

NULV

NULV Risk / Return Rank: 53
NULV Sharpe Ratio Rank: 54
NULV Sortino Ratio Rank: 53
NULV Omega Ratio Rank: 54
NULV Calmar Ratio Rank: 47
NULV Martin Ratio Rank: 56

NHYM

NHYM Risk / Return Rank: 24
NHYM Sharpe Ratio Rank: 27
NHYM Sortino Ratio Rank: 23
NHYM Omega Ratio Rank: 28
NHYM Calmar Ratio Rank: 23
NHYM 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.

NULV vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Large-Cap Value ETF (NULV) and Nuveen High Yield Municipal Income ETF (NHYM). 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	NHYM	Difference
Sharpe ratio Return per unit of total volatility	1.02	0.56	+0.47
Sortino ratio Return per unit of downside risk	1.47	0.74	+0.73
Omega ratio Gain probability vs. loss probability	1.21	1.13	+0.09
Calmar ratio Return relative to maximum drawdown	1.33	0.64	+0.69
Martin ratio Return relative to average drawdown	5.95	1.45	+4.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NULV vs. NHYM - Sharpe Ratio Comparison

The current NULV Sharpe Ratio is 1.02, which is higher than the NHYM Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of NULV and NHYM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NULV	NHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	0.56	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.55	-0.01

Correlation

The correlation between NULV and NHYM is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NULV vs. NHYM - Dividend Comparison

NULV's dividend yield for the trailing twelve months is around 1.61%, less than NHYM's 4.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NULV Nuveen ESG Large-Cap Value ETF	1.61%	1.64%	2.09%	2.55%	2.12%	4.52%	1.42%	1.47%	3.73%	1.22%
NHYM Nuveen High Yield Municipal Income ETF	4.59%	4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

NULV vs. NHYM - Drawdown Comparison

The maximum NULV drawdown since its inception was -36.99%, which is greater than NHYM's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for NULV and NHYM.

Drawdown Indicators

	NULV	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-6.11%	-30.88%
Max Drawdown (1Y) Largest decline over 1 year	-11.32%	-5.52%	-5.80%
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	—	—
Current Drawdown Current decline from peak	-4.62%	-1.62%	-3.00%
Average Drawdown Average peak-to-trough decline	-5.05%	-1.89%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.45%	+0.09%

Volatility

NULV vs. NHYM - Volatility Comparison

Nuveen ESG Large-Cap Value ETF (NULV) has a higher volatility of 4.22% compared to Nuveen High Yield Municipal Income ETF (NHYM) at 1.62%. This indicates that NULV's price experiences larger fluctuations and is considered to be riskier than NHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULV	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	1.62%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	8.15%	2.70%	+5.45%
Volatility (1Y) Calculated over the trailing 1-year period	14.89%	6.36%	+8.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	6.20%	+8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.11%	6.20%	+10.91%