NUMV vs. NUDV

Last updated Jun 4, 2026

NUMV (Nuveen ESG Mid-Cap Value ETF) and NUDV (Nuveen ESG Dividend ETF) are both exchange-traded funds - NUMV is a Mid Cap Value Equities fund tracking the TIAA ESG USA Mid-Cap Value Index, while NUDV is a Large Cap Value Equities fund tracking the Nuveen ESG USA High Dividend Yield Index. Both are passively managed. Over the past 3 years, NUMV returned 16.96%/yr vs 15.87%/yr for NUDV. Their correlation of 0.93 suggests significant overlap in exposure. NUMV charges 0.31%/yr vs 0.26%/yr for NUDV.

Performance

NUMV vs. NUDV - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with NUMV having a 9.74% return and NUDV slightly lower at 9.63%.

NUMV

• 1D: -0.42%
• 1M: 4.09%
• YTD: 9.74%
• 6M: 11.20%
• 1Y: 23.74%
• 3Y*: 16.96%
• 5Y*: 6.55%
• 10Y*: —

NUDV

• 1D: -0.72%
• 1M: 1.42%
• YTD: 9.63%
• 6M: 10.03%
• 1Y: 18.63%
• 3Y*: 15.87%
• 5Y*: —
• 10Y*: —

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

NUMV vs. NUDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUMV Nuveen ESG Mid-Cap Value ETF	9.74%	14.05%	12.31%	8.43%	-14.97%	7.36%
NUDV Nuveen ESG Dividend ETF	9.63%	10.77%	14.02%	10.13%	-7.83%	8.92%

Correlation

The correlation between NUMV and NUDV is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.93

The correlation between NUMV and NUDV has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

NUMV vs. NUDV - Sectors Allocation Comparison

Sectors	NUMV	NUDV
Financial Services	18.6%	23.2%
Technology	14.8%	13.2%
Industrials	13.9%	12.0%
Real Estate	8.6%	5.8%
Consumer Defensive	8.3%	10.5%
Healthcare	8.2%	11.3%
Consumer Cyclical	8.1%	6.7%
Utilities	6.8%	5.8%
Communication Services	5.5%	3.9%
Basic Materials	4.6%	2.7%
Energy	2.6%	5.0%

Return for Risk

NUMV vs. NUDV — Risk / Return Rank

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

NUMV

NUMV Risk / Return Rank: 56
NUMV Sharpe Ratio Rank: 56
NUMV Sortino Ratio Rank: 59
NUMV Omega Ratio Rank: 53
NUMV Calmar Ratio Rank: 55
NUMV Martin Ratio Rank: 59

NUDV

NUDV Risk / Return Rank: 55
NUDV Sharpe Ratio Rank: 52
NUDV Sortino Ratio Rank: 55
NUDV Omega Ratio Rank: 50
NUDV Calmar Ratio Rank: 57
NUDV Martin Ratio Rank: 57

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. NUDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Value ETF (NUMV) and Nuveen ESG Dividend ETF (NUDV). 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.

	NUMV	NUDV	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.81	+0.11
Sortino ratio: Return per unit of downside risk	2.79	2.66	+0.13
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	2.74	2.84	-0.10
Martin ratio: Return relative to average drawdown	10.37	10.08	+0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUMV vs. NUDV - Sharpe Ratio Comparison

The current NUMV Sharpe Ratio is 1.92, which is comparable to the NUDV Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of NUMV and NUDV, 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

	NUMV	NUDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	1.81	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.64	-0.19

Drawdowns

NUMV vs. NUDV - Drawdown Comparison

The maximum NUMV drawdown since its inception was -43.46%, which is greater than NUDV's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for NUMV and NUDV.

Drawdown Indicators

	NUMV	NUDV	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-20.10%	-23.36%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-6.60%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-16.48%	-3.05%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.72%	+0.30%
Average Drawdown Average peak-to-trough decline	-6.89%	-4.92%	-1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	1.85%	+0.44%

Volatility

NUMV vs. NUDV - Volatility Comparison

Nuveen ESG Mid-Cap Value ETF (NUMV) has a higher volatility of 2.97% compared to Nuveen ESG Dividend ETF (NUDV) at 2.71%. This indicates that NUMV's price experiences larger fluctuations and is considered to be riskier than NUDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMV	NUDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.71%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	7.44%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	10.34%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	14.97%	+2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	14.97%	+4.80%

NUMV vs. NUDV - Expense Ratio Comparison

NUMV has a 0.31% expense ratio, which is higher than NUDV's 0.26% expense ratio.

Dividends

NUMV vs. NUDV - Dividend Comparison

NUMV's dividend yield for the trailing twelve months is around 1.40%, less than NUDV's 2.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUDV Nuveen ESG Dividend ETF	2.27%	2.36%	6.18%	2.48%	2.96%	0.60%	0.00%	0.00%	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 NUDV in my portfolio?

NUMV and NUDV have a correlation of 0.87, 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 NUDV?

NUMV has higher volatility (2.97%) compared to NUDV (2.71%). In terms of maximum drawdown, NUMV dropped -43.46% vs NUDV's -20.10%.

Which ETF is better, NUMV or NUDV?

On 3-year performance, NUMV leads with 16.96% vs 15.87% for NUDV. On fees, NUDV is cheaper at 0.26% per year. On volatility, NUDV has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMV or NUDV?

Over the 3-year period, NUMV has performed better with a 16.96% return vs 15.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMV or NUDV?

NUDV is cheaper with a 0.26% expense ratio, compared with 0.31% for NUMV.

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

NUDV has the higher dividend yield at 2.27%, compared with 1.40% for NUMV.

What is the main difference between NUMV and NUDV?

NUMV is categorized as Mid Cap Value Equities, while NUDV is Large Cap Value Equities. NUMV tracks TIAA ESG USA Mid-Cap Value Index, while NUDV tracks Nuveen ESG USA High Dividend Yield Index. Their fees differ too: 0.31% for NUMV and 0.26% for NUDV.

Which has better risk-adjusted returns?

NUMV currently has the higher Sharpe Ratio (1.92 vs 1.81), 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.