NUMG vs. VO

Last updated Jun 23, 2026

NUMG (Nuveen ESG Mid-Cap Growth ETF) and VO (Vanguard Mid-Cap ETF) are both exchange-traded funds - NUMG is a Mid Cap Growth Equities fund tracking the MSCI TIAA ESG USA Mid Cap Growth, while VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Both are passively managed. Over the past 5 years, NUMG returned -0.91%/yr vs 8.06%/yr for VO. Their correlation of 0.86 suggests significant overlap in exposure. NUMG charges 0.30%/yr vs 0.03%/yr for VO.

Performance

NUMG vs. VO - Performance Comparison

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

Returns By Period

In the year-to-date period, NUMG achieves a -5.49% return, which is significantly lower than VO's 11.30% return.

NUMG

• 1D: -0.29%
• 1M: -1.85%
• YTD: -5.49%
• 6M: -7.45%
• 1Y: -3.64%
• 3Y*: 6.44%
• 5Y*: -0.91%
• 10Y*: —

VO

• 1D: 0.44%
• 1M: 3.04%
• YTD: 11.30%
• 6M: 9.77%
• 1Y: 19.89%
• 3Y*: 16.59%
• 5Y*: 8.06%
• 10Y*: 12.03%

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

NUMG vs. VO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUMG Nuveen ESG Mid-Cap Growth ETF	-5.49%	0.78%	11.99%	20.47%	-28.31%	12.27%	45.73%	34.87%	-5.79%	19.00%
VO Vanguard Mid-Cap ETF	11.30%	11.62%	15.31%	16.03%	-18.73%	24.70%	18.10%	30.98%	-9.24%	19.28%

Correlation

The correlation between NUMG and VO is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016	0.86

The correlation between NUMG and VO shifts across timeframes, from 0.80 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

NUMG vs. VO - Sectors Allocation Comparison

Sectors	NUMG	VO
Technology	33.4%	20.8%
Industrials	24.6%	17.7%
Healthcare	13.5%	7.5%
Consumer Cyclical	10.6%	8.6%
Financial Services	6.4%	12.5%
Communication Services	5.2%	3.0%
Real Estate	3.1%	5.1%
Basic Materials	2.0%	4.0%
Utilities	1.2%	7.9%
Consumer Defensive	-	4.7%
Energy	-	7.9%

Return for Risk

NUMG vs. VO — 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: 6
NUMG Omega Ratio Rank: 7
NUMG Calmar Ratio Rank: 7
NUMG Martin Ratio Rank: 7

VO

VO Risk / Return Rank: 48
VO Sharpe Ratio Rank: 46
VO Sortino Ratio Rank: 46
VO Omega Ratio Rank: 43
VO Calmar Ratio Rank: 51
VO Martin Ratio Rank: 55

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. VO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Growth ETF (NUMG) and Vanguard Mid-Cap ETF (VO). 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	VO	Difference
Sharpe ratio: Return per unit of total volatility	-0.20	1.56	-1.76
Sortino ratio: Return per unit of downside risk	-0.15	2.23	-2.37
Omega ratio: Gain probability vs. loss probability	0.98	1.27	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.19	2.45	-2.63
Martin ratio: Return relative to average drawdown	-0.47	9.23	-9.70

NUMG vs. VO - Sharpe Ratio Comparison

The current NUMG Sharpe Ratio is -0.20, which is lower than the VO Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of NUMG and VO, 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. VO - Drawdown Comparison

The maximum NUMG drawdown since its inception was -38.85%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for NUMG and VO.

Drawdown Indicators

	NUMG	VO	Difference
Max Drawdown Largest peak-to-trough decline	-38.85%	-58.87%	+20.02%
Max Drawdown (1Y) Largest decline over 1 year	-19.71%	-8.17%	-11.54%
Max Drawdown (3Y) Largest decline over 3 years	-26.58%	-19.02%	-7.56%
Max Drawdown (5Y) Largest decline over 5 years	-38.85%	-27.57%	-11.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.37%	—
Current Drawdown Current decline from peak	-13.97%	-0.45%	-13.52%
Average Drawdown Average peak-to-trough decline	-11.37%	-7.85%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.76%	2.16%	+5.60%

Volatility

NUMG vs. VO - Volatility Comparison

Nuveen ESG Mid-Cap Growth ETF (NUMG) has a higher volatility of 6.31% compared to Vanguard Mid-Cap ETF (VO) at 4.35%. This indicates that NUMG's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMG	VO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.31%	4.35%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	15.15%	9.80%	+5.35%
Volatility (1Y) Calculated over the trailing 1-year period	18.66%	12.80%	+5.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.94%	17.66%	+5.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	18.98%	+2.89%

NUMG vs. VO - Expense Ratio Comparison

NUMG has a 0.30% expense ratio, which is higher than VO's 0.03% expense ratio.

Dividends

NUMG vs. VO - Dividend Comparison

NUMG's dividend yield for the trailing twelve months is around 0.01%, less than VO's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
VO Vanguard Mid-Cap ETF	1.35%	1.52%	1.49%	1.52%	1.60%	1.12%	1.45%	1.48%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both NUMG and VO in my portfolio?

NUMG and VO have a correlation of 0.80, 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 VO?

NUMG has higher volatility (6.31%) compared to VO (4.35%). In terms of maximum drawdown, NUMG dropped -38.85% vs VO's -58.87%.

Which ETF is better, NUMG or VO?

On 5-year performance, VO leads with 8.06% vs -0.91% for NUMG. On fees, VO is cheaper at 0.03% per year. On volatility, VO has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMG or VO?

Over the 5-year period, VO has performed better with a 8.06% return vs -0.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMG or VO?

VO is cheaper with a 0.03% expense ratio, compared with 0.30% for NUMG.

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

VO has the higher dividend yield at 1.35%, compared with 0.01% for NUMG.

What is the main difference between NUMG and VO?

NUMG is categorized as Mid Cap Growth Equities, while VO is Mid Cap Blend Equities. NUMG tracks MSCI TIAA ESG USA Mid Cap Growth, while VO tracks CRSP US Mid Cap Index. They also come from different issuers: Nuveen and Vanguard. Their fees differ too: 0.30% for NUMG and 0.03% for VO.

Which has better risk-adjusted returns?

VO currently has the higher Sharpe Ratio (1.56 vs -0.20), 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.