NUMV vs. NUMG

Last updated Jul 17, 2026

NUMV (Nuveen ESG Mid-Cap Value ETF) and NUMG (Nuveen ESG Mid-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 NUMG is a Mid Cap Growth Equities fund tracking the MSCI TIAA ESG USA Mid Cap Growth. Both are passively managed. Over the past 5 years, NUMV returned 8.24%/yr vs -0.44%/yr for NUMG. A 0.73 correlation means they provide meaningful diversification when combined. NUMV charges 0.31%/yr vs 0.30%/yr for NUMG.

Performance

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

Returns By Period

In the year-to-date period, NUMV achieves a 13.76% return, which is significantly higher than NUMG's -2.71% return.

NUMV

• 1D: 1.16%
• 1M: 2.42%
• 6M: 8.70%
• YTD: 13.76%
• 1Y: 25.10%
• 3Y*: 15.79%
• 5Y*: 8.24%
• 10Y*: —

NUMG

• 1D: -0.26%
• 1M: 1.20%
• 6M: -3.35%
• YTD: -2.71%
• 1Y: -2.73%
• 3Y*: 4.75%
• 5Y*: -0.44%
• 10Y*: —

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

NUMV vs. NUMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUMV Nuveen ESG Mid-Cap Value ETF	13.76%	14.05%	12.31%	8.43%	-14.97%	31.15%	0.91%	29.81%	-11.91%	14.70%
NUMG Nuveen ESG Mid-Cap Growth ETF	-2.71%	0.78%	11.99%	20.47%	-28.31%	12.27%	45.73%	34.87%	-5.79%	19.00%

Correlation

The correlation between NUMV and NUMG is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016	0.73

The correlation between NUMV and NUMG shifts across timeframes, from 0.66 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

NUMV vs. NUMG - Sectors Allocation Comparison

Sectors	NUMV	NUMG
Financial Services	18.0%	6.4%
Technology	17.3%	33.4%
Industrials	12.9%	24.6%
Real Estate	8.6%	3.1%
Healthcare	8.4%	13.5%
Consumer Defensive	8.1%	-
Consumer Cyclical	7.9%	10.6%
Utilities	6.3%	1.2%
Communication Services	5.4%	5.2%
Basic Materials	4.7%	2.0%
Energy	2.3%	-

Return for Risk

NUMV vs. NUMG — Risk / Return Rank

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

NUMV

NUMV Risk / Return Rank: 76
NUMV Sharpe Ratio Rank: 79
NUMV Sortino Ratio Rank: 81
NUMV Omega Ratio Rank: 74
NUMV Calmar Ratio Rank: 72
NUMV Martin Ratio Rank: 75

NUMG

NUMG Risk / Return Rank: 8
NUMG Sharpe Ratio Rank: 8
NUMG Sortino Ratio Rank: 8
NUMG Omega Ratio Rank: 8
NUMG Calmar Ratio Rank: 8
NUMG Martin Ratio Rank: 8

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. NUMG - 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 Mid-Cap Growth ETF (NUMG). 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	NUMG	Difference
Sharpe ratio: Return per unit of total volatility	2.02	-0.15	+2.16
Sortino ratio: Return per unit of downside risk	2.92	-0.08	+2.99
Omega ratio: Gain probability vs. loss probability	1.35	0.99	+0.36
Calmar ratio: Return relative to maximum drawdown	2.90	-0.14	+3.03
Martin ratio: Return relative to average drawdown	10.99	-0.35	+11.33

NUMV vs. NUMG - Sharpe Ratio Comparison

The current NUMV Sharpe Ratio is 2.02, which is higher than the NUMG Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of NUMV and NUMG, 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. NUMG - Drawdown Comparison

The maximum NUMV drawdown since its inception was -43.46%, which is greater than NUMG's maximum drawdown of -38.85%. Use the drawdown chart below to compare losses from any high point for NUMV and NUMG.

Drawdown Indicators

	NUMV	NUMG	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-38.85%	-4.61%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-19.71%	+11.00%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-26.58%	+7.05%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-38.85%	+13.14%
Current Drawdown Current decline from peak	0.00%	-11.44%	+11.44%
Average Drawdown Average peak-to-trough decline	-6.81%	-11.37%	+4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	7.92%	-5.63%

Volatility

NUMV vs. NUMG - Volatility Comparison

The current volatility for Nuveen ESG Mid-Cap Value ETF (NUMV) is 3.20%, while Nuveen ESG Mid-Cap Growth ETF (NUMG) has a volatility of 4.70%. This indicates that NUMV experiences smaller price fluctuations and is considered to be less risky than NUMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMV	NUMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	4.70%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	15.14%	-5.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	18.79%	-6.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	22.98%	-5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	21.83%	-2.14%

NUMV vs. NUMG - Expense Ratio Comparison

NUMV has a 0.31% expense ratio, which is higher than NUMG's 0.30% expense ratio.

Dividends

NUMV vs. NUMG - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NUMV Nuveen ESG Mid-Cap Value ETF	1.35%	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 NUMG in my portfolio?

NUMV and NUMG have a correlation of 0.66, 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 NUMG?

NUMG has higher volatility (4.70%) compared to NUMV (3.20%). In terms of maximum drawdown, NUMV dropped -43.46% vs NUMG's -38.85%.

Which ETF is better, NUMV or NUMG?

On 5-year performance, NUMV leads with 8.24% vs -0.44% for NUMG. On fees, NUMG is cheaper at 0.30% per year. On volatility, NUMV has been the lower-risk option at 3.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMV or NUMG?

Over the 5-year period, NUMV has performed better with a 8.24% return vs -0.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMV or NUMG?

NUMG is cheaper with a 0.30% expense ratio, compared with 0.31% for NUMV.

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

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

What is the main difference between NUMV and NUMG?

NUMV is categorized as Mid Cap Value Equities, while NUMG is Mid Cap Growth Equities. NUMV tracks TIAA ESG USA Mid-Cap Value Index, while NUMG tracks MSCI TIAA ESG USA Mid Cap Growth. Their fees differ too: 0.31% for NUMV and 0.30% for NUMG.

Which has better risk-adjusted returns?

NUMV currently has the higher Sharpe Ratio (2.02 vs -0.15), 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.