NUMG vs. NUSB

Last updated Jun 26, 2026

NUMG (Nuveen ESG Mid-Cap Growth ETF) and NUSB (Nuveen Ultra Short Income ETF) are both exchange-traded funds - NUMG is a Mid Cap Growth Equities fund tracking the MSCI TIAA ESG USA Mid Cap Growth, while NUSB is a Ultrashort Bond fund actively managed by Nuveen. NUMG is passively managed, while NUSB is actively managed. Over the past year, NUMG returned -4.50% vs 4.24% for NUSB. At a 0.14 correlation, their price movements are largely independent. NUMG charges 0.30%/yr vs 0.17%/yr for NUSB.

Performance

NUMG vs. NUSB - Performance Comparison

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

Returns By Period

In the year-to-date period, NUMG achieves a -5.14% return, which is significantly lower than NUSB's 1.75% return.

NUMG

• 1D: 0.15%
• 1M: -2.10%
• YTD: -5.14%
• 6M: -6.91%
• 1Y: -4.50%
• 3Y*: 6.37%
• 5Y*: -1.04%
• 10Y*: —

NUSB

• 1D: 0.02%
• 1M: 0.32%
• YTD: 1.75%
• 6M: 1.83%
• 1Y: 4.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUMG vs. NUSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUMG Nuveen ESG Mid-Cap Growth ETF	-5.14%	0.78%	9.05%
NUSB Nuveen Ultra Short Income ETF	1.75%	4.71%	4.48%

Correlation

The correlation between NUMG and NUSB is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.14

Return for Risk

NUMG vs. NUSB — Risk / Return Rank

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

NUMG

NUMG Risk / Return Rank: 7
NUMG Sharpe Ratio Rank: 7
NUMG Sortino Ratio Rank: 7
NUMG Omega Ratio Rank: 7
NUMG Calmar Ratio Rank: 8
NUMG Martin Ratio Rank: 7

NUSB

NUSB Risk / Return Rank: 100
NUSB Sharpe Ratio Rank: 100
NUSB Sortino Ratio Rank: 99
NUSB Omega Ratio Rank: 99
NUSB Calmar Ratio Rank: 100
NUSB Martin Ratio Rank: 100

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. NUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Growth ETF (NUMG) and Nuveen Ultra Short Income ETF (NUSB). 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.

	NUMG	NUSB	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	11.56	-11.80
Sortino ratio: Return per unit of downside risk	-0.22	30.56	-30.77
Omega ratio: Gain probability vs. loss probability	0.98	8.46	-7.48
Calmar ratio: Return relative to maximum drawdown	-0.23	71.59	-71.82
Martin ratio: Return relative to average drawdown	-0.58	380.34	-380.92

NUMG vs. NUSB - Sharpe Ratio Comparison

The current NUMG Sharpe Ratio is -0.24, which is lower than the NUSB Sharpe Ratio of 11.56. The chart below compares the historical Sharpe Ratios of NUMG and NUSB, 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

NUMG vs. NUSB - Drawdown Comparison

The maximum NUMG drawdown since its inception was -38.85%, which is greater than NUSB's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for NUMG and NUSB.

Drawdown Indicators

	NUMG	NUSB	Difference
Max Drawdown Largest peak-to-trough decline	-38.85%	-0.16%	-38.69%
Max Drawdown (1Y) Largest decline over 1 year	-19.71%	-0.06%	-19.65%
Max Drawdown (3Y) Largest decline over 3 years	-26.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.85%	—	—
Current Drawdown Current decline from peak	-13.65%	0.00%	-13.65%
Average Drawdown Average peak-to-trough decline	-11.37%	-0.00%	-11.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.82%	0.01%	+7.81%

Volatility

NUMG vs. NUSB - Volatility Comparison

Nuveen ESG Mid-Cap Growth ETF (NUMG) has a higher volatility of 6.32% compared to Nuveen Ultra Short Income ETF (NUSB) at 0.08%. This indicates that NUMG's price experiences larger fluctuations and is considered to be riskier than NUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMG	NUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	0.08%	+6.24%
Volatility (6M) Calculated over the trailing 6-month period	15.07%	0.23%	+14.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.62%	0.37%	+18.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.94%	0.38%	+22.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	0.38%	+21.48%

NUMG vs. NUSB - Expense Ratio Comparison

NUMG has a 0.30% expense ratio, which is higher than NUSB's 0.17% expense ratio.

Dividends

NUMG vs. NUSB - Dividend Comparison

NUMG's dividend yield for the trailing twelve months is around 0.01%, less than NUSB's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NUSB Nuveen Ultra Short Income ETF	4.29%	4.51%	3.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUMG and NUSB in my portfolio?

NUMG and NUSB have a correlation of 0.20, 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 NUSB?

NUMG has higher volatility (6.32%) compared to NUSB (0.08%). In terms of maximum drawdown, NUMG dropped -38.85% vs NUSB's -0.16%.

Which ETF is better, NUMG or NUSB?

On 1-year performance, NUSB leads with 4.24% vs -4.50% for NUMG. On fees, NUSB is cheaper at 0.17% per year. On volatility, NUSB has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMG or NUSB?

Over the 1-year period, NUSB has performed better with a 4.24% return vs -4.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMG or NUSB?

NUSB is cheaper with a 0.17% expense ratio, compared with 0.30% for NUMG.

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

NUSB has the higher dividend yield at 4.29%, compared with 0.01% for NUMG.

What is the main difference between NUMG and NUSB?

NUMG is categorized as Mid Cap Growth Equities, while NUSB is Ultrashort Bond. Their fees differ too: 0.30% for NUMG and 0.17% for NUSB.

Which has better risk-adjusted returns?

NUSB currently has the higher Sharpe Ratio (11.56 vs -0.24), 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.