NULV vs. NURE

Last updated Jun 26, 2026

NULV (Nuveen ESG Large-Cap Value ETF) and NURE (Nuveen Short-Term REIT ETF) are both exchange-traded funds - NULV is a Large Cap Value Equities fund tracking the MSCI TIAA ESG USA Large Cap Value, 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, NULV returned 8.42%/yr vs 1.96%/yr for NURE. A 0.62 correlation means they provide meaningful diversification when combined. NULV charges 0.26%/yr vs 0.35%/yr for NURE.

Performance

NULV vs. NURE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Large-Cap Value ETF (NULV) 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, NULV achieves a 10.72% return, which is significantly lower than NURE's 16.61% return.

NULV

• 1D: -0.04%
• 1M: -2.04%
• YTD: 10.72%
• 6M: 9.48%
• 1Y: 22.85%
• 3Y*: 16.18%
• 5Y*: 8.42%
• 10Y*: —

NURE

• 1D: 0.96%
• 1M: 5.10%
• YTD: 16.61%
• 6M: 16.53%
• 1Y: 14.60%
• 3Y*: 7.02%
• 5Y*: 1.96%
• 10Y*: —

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

NULV vs. NURE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NULV Nuveen ESG Large-Cap Value ETF	10.72%	16.31%	11.88%	7.60%	-10.09%	23.46%	1.87%	27.26%	-4.90%	15.67%
NURE Nuveen Short-Term REIT ETF	16.61%	-7.51%	6.65%	13.09%	-28.48%	53.41%	-7.24%	25.10%	0.02%	8.41%

Correlation

The correlation between NULV and NURE is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016	0.62

The correlation between NULV and NURE shifts across timeframes, from 0.57 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NULV vs. NURE — Risk / Return Rank

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

NULV

NULV Risk / Return Rank: 75
NULV Sharpe Ratio Rank: 77
NULV Sortino Ratio Rank: 78
NULV Omega Ratio Rank: 74
NULV Calmar Ratio Rank: 71
NULV Martin Ratio Rank: 76

NURE

NURE Risk / Return Rank: 28
NURE Sharpe Ratio Rank: 28
NURE Sortino Ratio Rank: 27
NURE Omega Ratio Rank: 25
NURE Calmar Ratio Rank: 35
NURE Martin Ratio Rank: 26

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. NURE - Risk-Adjusted Trends Comparison

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

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NULV	NURE	Difference
Sharpe ratio: Return per unit of total volatility	2.12	0.92	+1.20
Sortino ratio: Return per unit of downside risk	3.01	1.41	+1.60
Omega ratio: Gain probability vs. loss probability	1.38	1.16	+0.22
Calmar ratio: Return relative to maximum drawdown	3.15	1.61	+1.55
Martin ratio: Return relative to average drawdown	12.72	3.34	+9.38

NULV vs. NURE - Sharpe Ratio Comparison

The current NULV Sharpe Ratio is 2.12, which is higher than the NURE Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of NULV 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.

Drawdowns

NULV vs. NURE - Drawdown Comparison

The maximum NULV drawdown since its inception was -36.99%, smaller than the maximum NURE drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for NULV and NURE.

Drawdown Indicators

	NULV	NURE	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-46.05%	+9.06%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-9.13%	+1.85%
Max Drawdown (3Y) Largest decline over 3 years	-15.07%	-21.03%	+5.96%
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	-35.98%	+14.51%
Current Drawdown Current decline from peak	-2.77%	-8.06%	+5.29%
Average Drawdown Average peak-to-trough decline	-4.96%	-12.28%	+7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	4.38%	-2.58%

Volatility

NULV vs. NURE - Volatility Comparison

The current volatility for Nuveen ESG Large-Cap Value ETF (NULV) is 3.28%, while Nuveen Short-Term REIT ETF (NURE) has a volatility of 4.36%. This indicates that NULV experiences smaller price fluctuations and is considered to be less risky than NURE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NULV	NURE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	4.36%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	11.60%	-3.32%
Volatility (1Y) Calculated over the trailing 1-year period	10.84%	16.02%	-5.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.32%	19.68%	-5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	21.77%	-4.78%

NULV vs. NURE - Expense Ratio Comparison

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

Dividends

NULV vs. NURE - Dividend Comparison

NULV's dividend yield for the trailing twelve months is around 1.48%, less than NURE's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
NULV Nuveen ESG Large-Cap Value ETF	1.48%	1.64%	2.09%	2.55%	2.12%	4.52%	1.42%	1.47%	3.73%	1.22%	0.00%
NURE Nuveen Short-Term REIT ETF	4.26%	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 NULV and NURE in my portfolio?

NULV and NURE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NULV or NURE?

NURE has higher volatility (4.36%) compared to NULV (3.28%). In terms of maximum drawdown, NULV dropped -36.99% vs NURE's -46.05%.

Which ETF is better, NULV or NURE?

On 5-year performance, NULV leads with 8.42% vs 1.96% for NURE. On fees, NULV is cheaper at 0.26% per year. On volatility, NULV has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NULV or NURE?

Over the 5-year period, NULV has performed better with a 8.42% return vs 1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NULV or NURE?

NULV is cheaper with a 0.26% expense ratio, compared with 0.35% for NURE.

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

NURE has the higher dividend yield at 4.26%, compared with 1.48% for NULV.

What is the main difference between NULV and NURE?

NULV is categorized as Large Cap Value Equities, while NURE is REIT. NULV tracks MSCI TIAA ESG USA Large Cap Value, while NURE tracks Dow Jones U.S. Select Short-Term REIT Index. Their fees differ too: 0.26% for NULV and 0.35% for NURE.

Which has better risk-adjusted returns?

NULV currently has the higher Sharpe Ratio (2.12 vs 0.92), 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.