NULC vs VOO
Nuveen ESG Large-Cap ETF vs Vanguard S&P 500 ETF
Which is better, NULC or VOO?
Nearly the same fund. VOO costs less.
VOO has a lower expense ratio. NULC led over 1Y, VOO over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. NULC is less concentrated, with 32.5% of the fund in its ten largest positions against 37.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NULC | VOO |
|---|---|---|
| Expense Ratio | 0.21% | 0.03%Best |
| AUM | $72M | $997.4B |
| Dividend Yield | 0.88% | 1.04% |
| Holdings | 138 | 509 |
| YTD Return | +13.67%Best | +11.48% |
| 1Y Return | +16.97%Best | +15.94% |
| 3Y Return (annualized) | +19.33% | +21.01%Best |
| 5Y Return (annualized) | +9.83% | +12.66%Best |
| Volatility (annualized) | 16.9% | 16.4%Best |
| Max Drawdown | -34.9% | -34.3%Best |
| $10,000 over 5 years | $15,981 | $18,149Best |
| Top 10 Weight | 32.5%Best | 37.6% |
| Fund Family | Nuveen | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 3, 2019 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Jun 4, 2019 to Sep 15, 2026 (7.3 years).
NULC vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7.3 years both funds cover.
NULC vs VOO Performance
Nuveen ESG Large-Cap ETF (NULC) is an ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year NULC returned +16.97% while VOO returned +15.94%. Year to date, NULC is up 13.67% versus a gain of 11.48% for VOO.
Over three years, NULC compounded at +19.33% per year against +21.01% for VOO; over five years the annualized figures are +9.83% and +12.66% respectively. Across the full 7-year window we track, VOO has the edge at +15.85% annualized vs +14.97%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NULC has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.4% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.9% for NULC and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NULC charges 0.21% per year while VOO charges 0.03%. On a $10,000 position that is $21 vs $3 annually, a gap of $18 per year that compounds over a long holding period. On income, NULC currently yields 0.88% against 1.04% for VOO.
Holdings Overlap
95.5% of NULC's money is in holdings VOO also owns. 40.5% of VOO's money is in holdings NULC also owns.
Most of NULC is already inside VOO. Owning both mostly buys the same companies twice.
114 positions in common, counted across the 128 positions we hold weights for in NULC and 494 in VOO, against full books of 138 and 509.
What only one of them owns
Our book lists 374 positions for VOO that do not appear in our book for NULC (58.7% of the fund), and 12 for NULC that do not appear in VOO (3.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in NULC | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.09% | 7.55% | 1.54% |
| MSFTMicrosoft Corp | 5.26% | 5.36% | 0.10% |
| AVGOBroadcom Inc | 3.55% | 2.86% | 0.69% |
| METAMeta Platforms Inc | 3.33% | 1.90% | 1.43% |
| AMDAdvanced Micro Devices Inc | 2.36% | 1.21% | 1.15% |
| VVisa Inc Class A | 1.97% | 0.93% | 1.04% |
| MAMastercard Inc | 1.85% | 0.72% | 1.13% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.75% | 0.71% | 1.04% |
| KOCoca Cola Co. | 1.74% | 0.53% | 1.21% |
| MRKMerck & Company Inc | 1.58% | 0.50% | 1.08% |
95.5% of NULC is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NULC or VOO?
NULC has an expense ratio of 0.21% while VOO charges 0.03%. VOO is the cheaper option, by $18 a year on a $10,000 investment.
Which performed better, NULC or VOO?
Over the past year NULC returned +16.97% vs +15.94% for VOO, so NULC leads on 1-year performance. Over the longest common window we track (7 years), NULC annualized +14.97% vs +15.85% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NULC or VOO?
NULC has been the more volatile fund at 16.9% annualized versus 16.4% for VOO. Worst drawdown: NULC -34.9% vs VOO -34.3%.
Should I hold both NULC and VOO?
NULC and VOO have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between NULC and VOO?
95.5% of NULC's money is in holdings VOO also owns. 40.5% of VOO's is in holdings NULC also owns. They hold 114 positions in common, counted across the 128 positions we hold weights for in NULC and 494 in VOO.
Which pays a higher dividend, NULC or VOO?
NULC yields 0.88% while VOO yields 1.04%, so VOO currently pays the higher dividend yield.
Is VOO better than NULC?
VOO has a lower expense ratio. NULC led over 1Y, VOO over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. NULC is less concentrated, with 32.5% of the fund in its ten largest positions against 37.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.