NUSC vs. NUMG

Last updated Jun 4, 2026

NUSC (Nuveen ESG Small-Cap ETF) and NUMG (Nuveen ESG Mid-Cap Growth ETF) are both exchange-traded funds - NUSC is a Small Cap Growth Equities fund tracking the MSCI TIAA ESG USA Small Cap, 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, NUSC returned 4.68%/yr vs 0.99%/yr for NUMG. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

NUSC vs. NUMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Small-Cap ETF (NUSC) 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, NUSC achieves a 12.88% return, which is significantly higher than NUMG's -0.40% return.

NUSC

• 1D: -0.57%
• 1M: 3.77%
• YTD: 12.88%
• 6M: 12.74%
• 1Y: 27.41%
• 3Y*: 13.27%
• 5Y*: 4.68%
• 10Y*: —

NUMG

• 1D: -1.63%
• 1M: 5.76%
• YTD: -0.40%
• 6M: 0.31%
• 1Y: -0.49%
• 3Y*: 8.47%
• 5Y*: 0.99%
• 10Y*: —

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

NUSC vs. NUMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUSC Nuveen ESG Small-Cap ETF	12.88%	7.72%	8.29%	15.72%	-17.73%	17.51%	23.69%	27.09%	-9.40%	16.50%
NUMG Nuveen ESG Mid-Cap Growth ETF	-0.40%	0.78%	11.99%	20.47%	-28.31%	12.27%	45.73%	34.87%	-5.79%	19.00%

Correlation

The correlation between NUSC and NUMG is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 15, 2016	0.80

The correlation between NUSC and NUMG shifts across timeframes, from 0.74 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NUSC vs. NUMG — Risk / Return Rank

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

NUSC

NUSC Risk / Return Rank: 50
NUSC Sharpe Ratio Rank: 46
NUSC Sortino Ratio Rank: 48
NUSC Omega Ratio Rank: 42
NUSC Calmar Ratio Rank: 55
NUSC Martin Ratio Rank: 56

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: 9
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.

NUSC vs. NUMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Small-Cap ETF (NUSC) 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.

	NUSC	NUMG	Difference
Sharpe ratio Return per unit of total volatility	1.61	-0.03	+1.64
Sortino ratio Return per unit of downside risk	2.38	0.09	+2.29
Omega ratio Gain probability vs. loss probability	1.28	1.01	+0.27
Calmar ratio Return relative to maximum drawdown	2.72	-0.03	+2.75
Martin ratio Return relative to average drawdown	9.81	-0.06	+9.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUSC vs. NUMG - Sharpe Ratio Comparison

The current NUSC Sharpe Ratio is 1.61, which is higher than the NUMG Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of NUSC 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.

Sharpe Ratios by Period

	NUSC	NUMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	-0.03	+1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.04	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.44	0.00

Drawdowns

NUSC vs. NUMG - Drawdown Comparison

The maximum NUSC drawdown since its inception was -41.49%, which is greater than NUMG's maximum drawdown of -38.85%. Use the drawdown chart below to compare losses from any high point for NUSC and NUMG.

Drawdown Indicators

	NUSC	NUMG	Difference
Max Drawdown Largest peak-to-trough decline	-41.49%	-38.85%	-2.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-19.71%	+9.61%
Max Drawdown (3Y) Largest decline over 3 years	-26.95%	-26.58%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-28.85%	-38.85%	+10.00%
Current Drawdown Current decline from peak	-0.57%	-9.34%	+8.77%
Average Drawdown Average peak-to-trough decline	-8.21%	-11.37%	+3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	7.59%	-4.79%

Volatility

NUSC vs. NUMG - Volatility Comparison

The current volatility for Nuveen ESG Small-Cap ETF (NUSC) is 4.50%, while Nuveen ESG Mid-Cap Growth ETF (NUMG) has a volatility of 4.75%. This indicates that NUSC 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

	NUSC	NUMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	4.75%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	12.17%	14.59%	-2.42%
Volatility (1Y) Calculated over the trailing 1-year period	17.11%	18.18%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.15%	22.86%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	21.87%	+0.49%

NUSC vs. NUMG - Expense Ratio Comparison

Both NUSC and NUMG have an expense ratio of 0.30%.

Dividends

NUSC vs. NUMG - Dividend Comparison

NUSC's dividend yield for the trailing twelve months is around 0.93%, 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%
NUSC Nuveen ESG Small-Cap ETF	0.93%	1.05%	1.15%	1.11%	1.16%	7.06%	0.52%	0.90%	3.95%	0.94%

Frequently Asked Questions

Can I hold both NUSC and NUMG in my portfolio?

NUSC and NUMG have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUSC or NUMG?

NUMG has higher volatility (4.75%) compared to NUSC (4.50%). In terms of maximum drawdown, NUSC dropped -41.49% vs NUMG's -38.85%.

Which ETF is better, NUSC or NUMG?

On 5-year performance, NUSC leads with 4.68% vs 0.99% for NUMG. Both ETFs have the same 0.30% expense ratio. On volatility, NUSC has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUSC or NUMG?

Over the 5-year period, NUSC has performed better with a 4.68% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUSC or NUMG?

NUSC and NUMG have the same expense ratio: 0.30% per year.

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

NUSC has the higher dividend yield at 0.93%, compared with 0.01% for NUMG.

What is the main difference between NUSC and NUMG?

NUSC is categorized as Small Cap Growth Equities, while NUMG is Mid Cap Growth Equities. NUSC tracks MSCI TIAA ESG USA Small Cap, while NUMG tracks MSCI TIAA ESG USA Mid Cap Growth.

Which has better risk-adjusted returns?

NUSC currently has the higher Sharpe Ratio (1.61 vs -0.03), 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.