NUMV vs. NUGO

Last updated Jun 4, 2026

NUMV (Nuveen ESG Mid-Cap Value ETF) and NUGO (Nuveen Growth Opportunities ETF) are both exchange-traded funds - NUMV is a Mid Cap Value Equities fund tracking the TIAA ESG USA Mid-Cap Value Index, while NUGO is a Large Cap Growth Equities fund actively managed by Nuveen. NUMV is passively managed, while NUGO is actively managed. Over the past 3 years, NUMV returned 16.96%/yr vs 25.96%/yr for NUGO. A 0.59 correlation means they provide meaningful diversification when combined. NUMV charges 0.31%/yr vs 0.56%/yr for NUGO.

Performance

NUMV vs. NUGO - Performance Comparison

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

Returns By Period

In the year-to-date period, NUMV achieves a 9.74% return, which is significantly lower than NUGO's 10.24% return.

NUMV

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

NUGO

• 1D: -1.39%
• 1M: 5.87%
• YTD: 10.24%
• 6M: 9.17%
• 1Y: 27.74%
• 3Y*: 25.96%
• 5Y*: —
• 10Y*: —

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

NUMV vs. NUGO - 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%
NUGO Nuveen Growth Opportunities ETF	10.24%	14.91%	35.95%	45.37%	-32.73%	7.78%

Correlation

The correlation between NUMV and NUGO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.59

Over the past year, the correlation between NUMV and NUGO has dropped to 0.39 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

NUMV vs. NUGO - Sectors Allocation Comparison

Sectors	NUMV	NUGO
Financial Services	18.6%	3.3%
Technology	14.8%	54.6%
Industrials	13.9%	9.0%
Real Estate	8.6%	-
Consumer Defensive	8.3%	0.9%
Healthcare	8.2%	6.5%
Consumer Cyclical	8.1%	12.3%
Utilities	6.8%	0.2%
Communication Services	5.5%	13.2%
Basic Materials	4.6%	1.6%
Energy	2.6%	-

Return for Risk

NUMV vs. NUGO — 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

NUGO

NUGO Risk / Return Rank: 39
NUGO Sharpe Ratio Rank: 45
NUGO Sortino Ratio Rank: 43
NUGO Omega Ratio Rank: 43
NUGO Calmar Ratio Rank: 33
NUGO Martin Ratio Rank: 34

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. NUGO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Value ETF (NUMV) and Nuveen Growth Opportunities ETF (NUGO). 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	NUGO	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.57	+0.34
Sortino ratio: Return per unit of downside risk	2.79	2.17	+0.62
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.74	1.59	+1.15
Martin ratio: Return relative to average drawdown	10.37	5.17	+5.20
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. NUGO - Sharpe Ratio Comparison

The current NUMV Sharpe Ratio is 1.92, which is comparable to the NUGO Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of NUMV and NUGO, 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	NUGO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	1.57	+0.34
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	0.59	-0.14

Drawdowns

NUMV vs. NUGO - Drawdown Comparison

The maximum NUMV drawdown since its inception was -43.46%, which is greater than NUGO's maximum drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for NUMV and NUGO.

Drawdown Indicators

	NUMV	NUGO	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-38.01%	-5.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-17.54%	+8.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-25.12%	+5.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	—	—
Current Drawdown Current decline from peak	-0.42%	-1.39%	+0.97%
Average Drawdown Average peak-to-trough decline	-6.89%	-12.06%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	5.38%	-3.09%

Volatility

NUMV vs. NUGO - Volatility Comparison

The current volatility for Nuveen ESG Mid-Cap Value ETF (NUMV) is 2.97%, while Nuveen Growth Opportunities ETF (NUGO) has a volatility of 4.21%. This indicates that NUMV experiences smaller price fluctuations and is considered to be less risky than NUGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMV	NUGO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	4.21%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	13.36%	-4.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	17.71%	-5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	23.12%	-5.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	23.12%	-3.35%

NUMV vs. NUGO - Expense Ratio Comparison

NUMV has a 0.31% expense ratio, which is lower than NUGO's 0.56% expense ratio.

Dividends

NUMV vs. NUGO - Dividend Comparison

NUMV's dividend yield for the trailing twelve months is around 1.40%, while NUGO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUGO Nuveen Growth Opportunities ETF	0.00%	0.00%	0.00%	0.19%	0.26%	0.00%	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 NUGO in my portfolio?

NUMV and NUGO have a correlation of 0.39, 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 NUGO?

NUGO has higher volatility (4.21%) compared to NUMV (2.97%). In terms of maximum drawdown, NUMV dropped -43.46% vs NUGO's -38.01%.

Which ETF is better, NUMV or NUGO?

On 3-year performance, NUGO leads with 25.96% vs 16.96% for NUMV. On fees, NUMV is cheaper at 0.31% per year. On volatility, NUMV has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMV or NUGO?

Over the 3-year period, NUGO has performed better with a 25.96% return vs 16.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMV or NUGO?

NUMV is cheaper with a 0.31% expense ratio, compared with 0.56% for NUGO.

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

NUMV has the higher dividend yield at 1.40%, compared with 0.00% for NUGO.

What is the main difference between NUMV and NUGO?

NUMV is categorized as Mid Cap Value Equities, while NUGO is Large Cap Growth Equities. Their fees differ too: 0.31% for NUMV and 0.56% for NUGO.

Which has better risk-adjusted returns?

NUMV currently has the higher Sharpe Ratio (1.92 vs 1.57), 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.