NUMG vs. NUDM

Last updated Jun 4, 2026

NUMG (Nuveen ESG Mid-Cap Growth ETF) and NUDM (Nuveen ESG International Developed Markets Equity ETF) are both exchange-traded funds - NUMG is a Mid Cap Growth Equities fund tracking the MSCI TIAA ESG USA Mid Cap Growth, while NUDM is a Foreign Large Cap Equities fund tracking the MSCI TIAA ESG International DM. Both are passively managed. Over the past 5 years, NUMG returned 0.99%/yr vs 7.98%/yr for NUDM. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

NUMG vs. NUDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Mid-Cap Growth ETF (NUMG) and Nuveen ESG International Developed Markets Equity ETF (NUDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUMG achieves a -0.40% return, which is significantly lower than NUDM's 7.90% return.

NUMG

• 1D: -1.63%
• 1M: 5.76%
• YTD: -0.40%
• 6M: 0.31%
• 1Y: -0.49%
• 3Y*: 8.47%
• 5Y*: 0.99%
• 10Y*: —

NUDM

• 1D: -0.62%
• 1M: 4.14%
• YTD: 7.90%
• 6M: 9.70%
• 1Y: 21.49%
• 3Y*: 16.01%
• 5Y*: 7.98%
• 10Y*: —

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

NUMG vs. NUDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUMG Nuveen ESG Mid-Cap Growth ETF	-0.40%	0.78%	11.99%	20.47%	-28.31%	12.27%	45.73%	34.87%	-5.79%	9.15%
NUDM Nuveen ESG International Developed Markets Equity ETF	7.90%	29.60%	5.47%	17.70%	-15.16%	10.62%	10.06%	24.58%	-14.82%	8.40%

Correlation

The correlation between NUMG and NUDM is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017	0.65

The correlation between NUMG and NUDM shifts across timeframes, from 0.56 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

NUMG vs. NUDM - Sectors Allocation Comparison

Sectors	NUMG	NUDM
Technology	28.7%	12.1%
Industrials	26.5%	21.2%
Healthcare	13.9%	10.8%
Consumer Cyclical	11.8%	6.0%
Financial Services	6.5%	25.9%
Communication Services	5.2%	4.5%
Real Estate	3.7%	2.3%
Basic Materials	2.3%	5.4%
Utilities	1.4%	3.8%
Consumer Defensive	-	7.4%
Energy	-	0.7%

Return for Risk

NUMG vs. NUDM — Risk / Return Rank

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

NUMG

NUMG Risk / Return Rank: 8
NUMG Sharpe Ratio Rank: 8
NUMG Sortino Ratio Rank: 8
NUMG Omega Ratio Rank: 8
NUMG Calmar Ratio Rank: 9
NUMG Martin Ratio Rank: 8

NUDM

NUDM Risk / Return Rank: 38
NUDM Sharpe Ratio Rank: 38
NUDM Sortino Ratio Rank: 38
NUDM Omega Ratio Rank: 37
NUDM Calmar Ratio Rank: 35
NUDM Martin Ratio Rank: 41

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.

NUMG vs. NUDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Growth ETF (NUMG) and Nuveen ESG International Developed Markets Equity ETF (NUDM). 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.

	NUMG	NUDM	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	1.37	-1.40
Sortino ratio: Return per unit of downside risk	0.09	1.96	-1.87
Omega ratio: Gain probability vs. loss probability	1.01	1.25	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.03	1.73	-1.75
Martin ratio: Return relative to average drawdown	-0.06	6.46	-6.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUMG vs. NUDM - Sharpe Ratio Comparison

The current NUMG Sharpe Ratio is -0.03, which is lower than the NUDM Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of NUMG and NUDM, 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

	NUMG	NUDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.03	1.37	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.48	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.48	-0.04

Drawdowns

NUMG vs. NUDM - Drawdown Comparison

The maximum NUMG drawdown since its inception was -38.85%, which is greater than NUDM's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for NUMG and NUDM.

Drawdown Indicators

	NUMG	NUDM	Difference
Max Drawdown Largest peak-to-trough decline	-38.85%	-32.01%	-6.84%
Max Drawdown (1Y) Largest decline over 1 year	-19.71%	-12.50%	-7.21%
Max Drawdown (3Y) Largest decline over 3 years	-26.58%	-13.47%	-13.11%
Max Drawdown (5Y) Largest decline over 5 years	-38.85%	-30.09%	-8.76%
Current Drawdown Current decline from peak	-9.34%	-1.71%	-7.63%
Average Drawdown Average peak-to-trough decline	-11.37%	-6.86%	-4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.59%	3.34%	+4.25%

Volatility

NUMG vs. NUDM - Volatility Comparison

The current volatility for Nuveen ESG Mid-Cap Growth ETF (NUMG) is 4.75%, while Nuveen ESG International Developed Markets Equity ETF (NUDM) has a volatility of 5.22%. This indicates that NUMG experiences smaller price fluctuations and is considered to be less risky than NUDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMG	NUDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	5.22%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	14.59%	13.03%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	15.74%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.86%	16.64%	+6.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	17.59%	+4.28%

NUMG vs. NUDM - Expense Ratio Comparison

Both NUMG and NUDM have an expense ratio of 0.30%.

Dividends

NUMG vs. NUDM - Dividend Comparison

NUMG's dividend yield for the trailing twelve months is around 0.01%, less than NUDM's 6.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUDM Nuveen ESG International Developed Markets Equity ETF	6.92%	7.46%	3.33%	3.14%	1.98%	4.31%	1.47%	3.42%	2.45%	0.47%
NUMG Nuveen ESG Mid-Cap Growth ETF	0.01%	0.01%	0.06%	0.18%	0.18%	12.76%	3.82%	0.27%	5.14%	0.56%

Frequently Asked Questions

Can I hold both NUMG and NUDM in my portfolio?

NUMG and NUDM have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUMG or NUDM?

NUDM has higher volatility (5.22%) compared to NUMG (4.75%). In terms of maximum drawdown, NUMG dropped -38.85% vs NUDM's -32.01%.

Which ETF is better, NUMG or NUDM?

On 5-year performance, NUDM leads with 7.98% vs 0.99% for NUMG. Both ETFs have the same 0.30% expense ratio. On volatility, NUMG has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMG or NUDM?

Over the 5-year period, NUDM has performed better with a 7.98% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMG or NUDM?

NUMG and NUDM have the same expense ratio: 0.30% per year.

Which ETF pays a higher dividend yield, NUMG or NUDM?

NUDM has the higher dividend yield at 6.92%, compared with 0.01% for NUMG.

What is the main difference between NUMG and NUDM?

NUMG is categorized as Mid Cap Growth Equities, while NUDM is Foreign Large Cap Equities. NUMG tracks MSCI TIAA ESG USA Mid Cap Growth, while NUDM tracks MSCI TIAA ESG International DM.

Which has better risk-adjusted returns?

NUDM currently has the higher Sharpe Ratio (1.37 vs -0.03), 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.