XP vs. NU
XP (XP Inc.) and NU (Nu Holdings Ltd.) are both stocks. Both are in the Financial Services sector — XP in Capital Markets, NU in Banks - Diversified. Over the past 3 years, XP returned -8.15%/yr vs 19.16%/yr for NU. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
XP vs. NU - Performance Comparison
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Returns By Period
In the year-to-date period, XP achieves a -1.06% return, which is significantly higher than NU's -23.60% return.
XP
- 1D
- 4.51%
- 1M
- -3.70%
- YTD
- -1.06%
- 6M
- -0.08%
- 1Y
- -16.23%
- 3Y*
- -8.15%
- 5Y*
- -17.02%
- 10Y*
- —
NU
- 1D
- 0.63%
- 1M
- 0.47%
- YTD
- -23.60%
- 6M
- -23.04%
- 1Y
- 5.35%
- 3Y*
- 19.16%
- 5Y*
- —
- 10Y*
- —
XP vs. NU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XP XP Inc. | -1.06% | 39.53% | -52.23% | 79.63% | -46.62% | -4.61% |
NU Nu Holdings Ltd. | -23.60% | 61.58% | 24.37% | 104.67% | -56.61% | -16.62% |
Correlation
The correlation between XP and NU is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021 | 0.53 |
The correlation between XP and NU shifts across timeframes, from 0.52 (3 years) to 0.64 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
XP:
$8.40B
NU:
$62.80B
XP:
R$9.77
NU:
$0.65
XP:
8.43
NU:
19.71
XP:
0.74
NU:
0.30
XP:
2.34
NU:
3.58
XP:
1.77
NU:
4.99
XP:
R$18.65B
NU:
$17.54B
XP:
R$12.49B
NU:
$7.67B
XP:
R$6.31B
NU:
$4.14B
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Return for Risk
XP vs. NU — Risk / Return Rank
XP
NU
XP vs. NU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for XP Inc. (XP) and Nu Holdings Ltd. (NU). 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.
| XP | NU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.06 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.14 | -0.62 |
| Martin ratioReturn relative to average drawdown | -1.05 | 0.33 | -1.39 |
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Drawdowns
XP vs. NU - Drawdown Comparison
The maximum XP drawdown since its inception was -79.19%, which is greater than NU's maximum drawdown of -72.07%. Use the drawdown chart below to compare losses from any high point for XP and NU.
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Drawdown Indicators
| XP | NU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.19% | -72.07% | -7.12% |
Max Drawdown (1Y)Largest decline over 1 year | -34.06% | -38.17% | +4.11% |
Max Drawdown (3Y)Largest decline over 3 years | -56.64% | -39.58% | -17.06% |
Max Drawdown (5Y)Largest decline over 5 years | -79.19% | — | — |
Current DrawdownCurrent decline from peak | -64.49% | -31.82% | -32.67% |
Average DrawdownAverage peak-to-trough decline | -47.06% | -29.78% | -17.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.48% | 16.02% | -0.54% |
Volatility
XP vs. NU - Volatility Comparison
The current volatility for XP Inc. (XP) is 12.19%, while Nu Holdings Ltd. (NU) has a volatility of 13.41%. This indicates that XP experiences smaller price fluctuations and is considered to be less risky than NU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XP | NU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.19% | 13.41% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 35.54% | 28.95% | +6.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 38.22% | +7.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.75% | 58.38% | -8.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.30% | 58.38% | -1.08% |
Dividends
XP vs. NU - Dividend Comparison
XP's dividend yield for the trailing twelve months is around 2.38%, while NU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NU Nu Holdings Ltd. | 0.00% | 0.00% | 0.00% | 0.00% |
XP XP Inc. | 2.38% | 1.10% | 5.49% | 5.02% |
Financials
XP vs. NU - Financials Comparison
This section allows you to compare key financial metrics between XP Inc. and Nu Holdings Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
XP vs. NU - Profitability Comparison
XP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, XP Inc. reported a gross profit of 3.04B and revenue of 4.62B. Therefore, the gross margin over that period was 65.8%.
NU - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nu Holdings Ltd. reported a gross profit of 2.00B and revenue of 4.98B. Therefore, the gross margin over that period was 40.2%.
XP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, XP Inc. reported an operating income of 1.41B and revenue of 4.62B, resulting in an operating margin of 30.6%.
NU - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nu Holdings Ltd. reported an operating income of 954.31M and revenue of 4.98B, resulting in an operating margin of 19.2%.
XP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, XP Inc. reported a net income of 1.29B and revenue of 4.62B, resulting in a net margin of 27.9%.
NU - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nu Holdings Ltd. reported a net income of 872.06M and revenue of 4.98B, resulting in a net margin of 17.5%.
Frequently Asked Questions
XP and NU have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NU has higher volatility (13.41%) compared to XP (12.19%). In terms of maximum drawdown, XP dropped -79.19% vs NU's -72.07%.
NU currently has the higher Sharpe Ratio (0.14 vs -0.36), 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.
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