NUMV vs. AVUV

Last updated Jun 24, 2026

NUMV (Nuveen ESG Mid-Cap Value ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - NUMV is a Mid Cap Value Equities fund tracking the TIAA ESG USA Mid-Cap Value Index, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. NUMV is passively managed, while AVUV is actively managed. Over the past 5 years, NUMV returned 7.06%/yr vs 11.59%/yr for AVUV. Their correlation of 0.90 suggests significant overlap in exposure. NUMV charges 0.31%/yr vs 0.25%/yr for AVUV.

Performance

NUMV vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Mid-Cap Value ETF (NUMV) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUMV achieves a 9.23% return, which is significantly lower than AVUV's 20.76% return.

NUMV

• 1D: 0.19%
• 1M: 1.40%
• YTD: 9.23%
• 6M: 8.54%
• 1Y: 21.81%
• 3Y*: 16.61%
• 5Y*: 7.06%
• 10Y*: —

AVUV

• 1D: 0.00%
• 1M: 2.33%
• YTD: 20.76%
• 6M: 18.72%
• 1Y: 38.38%
• 3Y*: 20.03%
• 5Y*: 11.59%
• 10Y*: —

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

NUMV vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NUMV Nuveen ESG Mid-Cap Value ETF	9.23%	14.05%	12.31%	8.43%	-14.97%	31.15%	0.91%	6.60%
AVUV Avantis US Small Cap Value ETF	20.76%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.54%

Correlation

The correlation between NUMV and AVUV is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.90

The correlation between NUMV and AVUV has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

NUMV vs. AVUV - Sectors Allocation Comparison

Sectors	NUMV	AVUV
Financial Services	18.0%	26.1%
Technology	17.3%	7.4%
Industrials	12.9%	13.6%
Real Estate	8.6%	0.7%
Healthcare	8.4%	4.8%
Consumer Defensive	8.1%	4.7%
Consumer Cyclical	7.9%	18.7%
Utilities	6.3%	0.1%
Communication Services	5.4%	3.1%
Basic Materials	4.7%	5.1%
Energy	2.3%	15.8%

Return for Risk

NUMV vs. AVUV — Risk / Return Rank

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

NUMV

NUMV Risk / Return Rank: 55
NUMV Sharpe Ratio Rank: 55
NUMV Sortino Ratio Rank: 57
NUMV Omega Ratio Rank: 50
NUMV Calmar Ratio Rank: 55
NUMV Martin Ratio Rank: 58

AVUV

AVUV Risk / Return Rank: 75
AVUV Sharpe Ratio Rank: 70
AVUV Sortino Ratio Rank: 73
AVUV Omega Ratio Rank: 65
AVUV Calmar Ratio Rank: 87
AVUV Martin Ratio Rank: 77

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.

NUMV vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Value ETF (NUMV) and Avantis US Small Cap Value ETF (AVUV). 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.

	NUMV	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.19	-0.45
Sortino ratio: Return per unit of downside risk	2.54	3.13	-0.58
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.52	4.85	-2.33
Martin ratio: Return relative to average drawdown	9.49	14.37	-4.88

NUMV vs. AVUV - Sharpe Ratio Comparison

The current NUMV Sharpe Ratio is 1.74, which is comparable to the AVUV Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of NUMV and AVUV, 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

NUMV vs. AVUV - Drawdown Comparison

The maximum NUMV drawdown since its inception was -43.46%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for NUMV and AVUV.

Drawdown Indicators

	NUMV	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-49.42%	+5.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-7.95%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-28.79%	+9.26%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-28.79%	+3.08%
Current Drawdown Current decline from peak	-1.69%	-1.61%	-0.08%
Average Drawdown Average peak-to-trough decline	-6.85%	-7.89%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	2.68%	-0.38%

Volatility

NUMV vs. AVUV - Volatility Comparison

The current volatility for Nuveen ESG Mid-Cap Value ETF (NUMV) is 3.49%, while Avantis US Small Cap Value ETF (AVUV) has a volatility of 4.28%. This indicates that NUMV experiences smaller price fluctuations and is considered to be less risky than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMV	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.28%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	11.39%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	17.63%	-5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	22.65%	-5.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	28.22%	-8.49%

NUMV vs. AVUV - Expense Ratio Comparison

NUMV has a 0.31% expense ratio, which is higher than AVUV's 0.25% expense ratio.

Dividends

NUMV vs. AVUV - Dividend Comparison

NUMV's dividend yield for the trailing twelve months is around 1.40%, less than AVUV's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVUV Avantis US Small Cap Value ETF	1.63%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%
NUMV Nuveen ESG Mid-Cap Value ETF	1.40%	1.53%	1.81%	2.20%	5.78%	6.62%	1.38%	2.40%	4.01%	0.83%

Frequently Asked Questions

Can I hold both NUMV and AVUV in my portfolio?

NUMV and AVUV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUMV or AVUV?

AVUV has higher volatility (4.28%) compared to NUMV (3.49%). In terms of maximum drawdown, NUMV dropped -43.46% vs AVUV's -49.42%.

Which ETF is better, NUMV or AVUV?

On 5-year performance, AVUV leads with 11.59% vs 7.06% for NUMV. On fees, AVUV is cheaper at 0.25% per year. On volatility, NUMV has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMV or AVUV?

Over the 5-year period, AVUV has performed better with a 11.59% return vs 7.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMV or AVUV?

AVUV is cheaper with a 0.25% expense ratio, compared with 0.31% for NUMV.

Which ETF pays a higher dividend yield, NUMV or AVUV?

AVUV has the higher dividend yield at 1.63%, compared with 1.40% for NUMV.

What is the main difference between NUMV and AVUV?

NUMV is categorized as Mid Cap Value Equities, while AVUV is Small Cap Value Equities. They also come from different issuers: Nuveen and Avantis. Their fees differ too: 0.31% for NUMV and 0.25% for AVUV.

Which has better risk-adjusted returns?

AVUV currently has the higher Sharpe Ratio (2.19 vs 1.74), 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.