NUMV vs. NULG

Last updated Jun 23, 2026

NUMV (Nuveen ESG Mid-Cap Value ETF) and NULG (Nuveen ESG Large-Cap Growth ETF) are both exchange-traded funds - NUMV is a Mid Cap Value Equities fund tracking the TIAA ESG USA Mid-Cap Value Index, while NULG is a Large Cap Growth Equities fund tracking the MSCI TIAA ESG USA Large Cap Growth. Both are passively managed. Over the past 5 years, NUMV returned 7.17%/yr vs 14.24%/yr for NULG. A 0.64 correlation means they provide meaningful diversification when combined. NUMV charges 0.31%/yr vs 0.25%/yr for NULG.

Performance

NUMV vs. NULG - 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 Large-Cap Growth ETF (NULG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUMV achieves a 9.03% return, which is significantly lower than NULG's 18.24% return.

NUMV

• 1D: 0.27%
• 1M: 1.21%
• YTD: 9.03%
• 6M: 7.98%
• 1Y: 22.86%
• 3Y*: 16.54%
• 5Y*: 7.17%
• 10Y*: —

NULG

• 1D: -0.23%
• 1M: 4.33%
• YTD: 18.24%
• 6M: 17.45%
• 1Y: 30.79%
• 3Y*: 24.33%
• 5Y*: 14.24%
• 10Y*: —

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

NUMV vs. NULG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUMV Nuveen ESG Mid-Cap Value ETF	9.03%	14.05%	12.31%	8.43%	-14.97%	31.15%	0.91%	29.81%	-11.91%	14.70%
NULG Nuveen ESG Large-Cap Growth ETF	18.24%	14.07%	23.75%	42.71%	-28.43%	28.06%	39.58%	39.23%	0.31%	24.57%

Correlation

The correlation between NUMV and NULG is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016	0.64

The correlation between NUMV and NULG shifts across timeframes, from 0.51 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.

NUMV vs. NULG - Sectors Allocation Comparison

Sectors	NUMV	NULG
Financial Services	18.0%	6.5%
Technology	17.3%	60.3%
Industrials	12.9%	8.5%
Real Estate	8.6%	1.0%
Healthcare	8.4%	5.6%
Consumer Defensive	8.1%	1.8%
Consumer Cyclical	7.9%	8.7%
Utilities	6.3%	-
Communication Services	5.4%	6.0%
Basic Materials	4.7%	1.7%
Energy	2.3%	-

Return for Risk

NUMV vs. NULG — 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: 58
NUMV Omega Ratio Rank: 51
NUMV Calmar Ratio Rank: 55
NUMV Martin Ratio Rank: 58

NULG

NULG Risk / Return Rank: 48
NULG Sharpe Ratio Rank: 52
NULG Sortino Ratio Rank: 48
NULG Omega Ratio Rank: 49
NULG Calmar Ratio Rank: 44
NULG Martin Ratio Rank: 45

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. NULG - 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 Large-Cap Growth ETF (NULG). 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	NULG	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.71	+0.11
Sortino ratio: Return per unit of downside risk	2.65	2.32	+0.33
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	2.64	2.13	+0.50
Martin ratio: Return relative to average drawdown	9.96	7.17	+2.78

NUMV vs. NULG - Sharpe Ratio Comparison

The current NUMV Sharpe Ratio is 1.82, which is comparable to the NULG Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of NUMV and NULG, 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. NULG - Drawdown Comparison

The maximum NUMV drawdown since its inception was -43.46%, which is greater than NULG's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for NUMV and NULG.

Drawdown Indicators

	NUMV	NULG	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-36.17%	-7.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-14.50%	+5.79%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-22.28%	+2.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-36.17%	+10.46%
Current Drawdown Current decline from peak	-1.88%	-0.23%	-1.65%
Average Drawdown Average peak-to-trough decline	-6.86%	-6.82%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	4.30%	-2.00%

Volatility

NUMV vs. NULG - Volatility Comparison

The current volatility for Nuveen ESG Mid-Cap Value ETF (NUMV) is 3.50%, while Nuveen ESG Large-Cap Growth ETF (NULG) has a volatility of 7.41%. This indicates that NUMV experiences smaller price fluctuations and is considered to be less risky than NULG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMV	NULG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	7.41%	-3.91%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	14.68%	-5.27%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	18.13%	-5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	21.71%	-4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	21.45%	-1.71%

NUMV vs. NULG - Expense Ratio Comparison

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

Dividends

NUMV vs. NULG - Dividend Comparison

NUMV's dividend yield for the trailing twelve months is around 1.41%, more than NULG's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NULG Nuveen ESG Large-Cap Growth ETF	0.10%	0.11%	0.16%	0.43%	0.40%	5.08%	2.68%	1.10%	3.73%	0.61%
NUMV Nuveen ESG Mid-Cap Value ETF	1.41%	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 NULG in my portfolio?

NUMV and NULG have a correlation of 0.51, 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 NULG?

NULG has higher volatility (7.41%) compared to NUMV (3.50%). In terms of maximum drawdown, NUMV dropped -43.46% vs NULG's -36.17%.

Which ETF is better, NUMV or NULG?

On 5-year performance, NULG leads with 14.24% vs 7.17% for NUMV. On fees, NULG is cheaper at 0.25% per year. On volatility, NUMV has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMV or NULG?

Over the 5-year period, NULG has performed better with a 14.24% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMV or NULG?

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

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

NUMV has the higher dividend yield at 1.41%, compared with 0.10% for NULG.

What is the main difference between NUMV and NULG?

NUMV is categorized as Mid Cap Value Equities, while NULG is Large Cap Growth Equities. NUMV tracks TIAA ESG USA Mid-Cap Value Index, while NULG tracks MSCI TIAA ESG USA Large Cap Growth. Their fees differ too: 0.31% for NUMV and 0.25% for NULG.

Which has better risk-adjusted returns?

NUMV currently has the higher Sharpe Ratio (1.82 vs 1.71), 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.