NULG vs SPY
Nuveen ESG Large-Cap Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NULG or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. NULG led over the full window, SPY over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.93. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 45.5%.
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 | NULG | SPY |
|---|---|---|
| Expense Ratio | 0.26% | 0.09%Best |
| AUM | $2.9B | $804.7B |
| Dividend Yield | 0.10% | 0.98% |
| Holdings | 71 | 505 |
| YTD Return | +12.76%Best | +11.52% |
| 1Y Return | +11.73% | +17.48%Best |
| 3Y Return (annualized) | +20.56% | +20.62%Best |
| 5Y Return (annualized) | +11.20% | +12.73%Best |
| Volatility (annualized) | 18.8% | 15.6%Best |
| Max Drawdown | -36.2% | -34.1%Best |
| $10,000 over 5 years | $17,003 | $18,205Best |
| Top 10 Weight | 45.5% | 38.0%Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Dec 13, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 14, 2016 to Sep 10, 2026 (9.7 years).
NULG vs SPY 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 9.7 years both funds cover.
NULG vs SPY Performance
Nuveen ESG Large-Cap Growth ETF (NULG) is an ETF from Nuveen and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NULG returned +11.73% while SPY returned +17.48%. Year to date, NULG is up 12.76% versus a gain of 11.52% for SPY.
Over three years, NULG compounded at +20.56% per year against +20.62% for SPY; over five years the annualized figures are +11.20% and +12.73% respectively. Across the full 10-year window we track, NULG has the edge at +18.11% annualized vs +14.10%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NULG has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 15.6% for SPY. 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 -36.2% for NULG and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NULG charges 0.26% per year while SPY charges 0.09%. On a $10,000 position that is $26 vs $9 annually, a gap of $17 per year that compounds over a long holding period. On income, NULG currently yields 0.10% against 0.98% for SPY.
Holdings Overlap
92.1% of NULG's money is in holdings SPY also owns. 22.5% of SPY's money is in holdings NULG also owns.
Most of NULG is already inside SPY. Owning both mostly buys the same companies twice.
55 positions in common, counted across the 67 positions we hold weights for in NULG and 504 in SPY, against full books of 71 and 505.
What only one of them owns
Our book lists 440 positions for SPY that do not appear in our book for NULG (77.0% of the fund), and 12 for NULG that do not appear in SPY (6.3%).
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 NULG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 15.91% | 7.71% | 8.20% |
| AVGOBroadcom Inc | 6.49% | 2.97% | 3.52% |
| LLYEli Lilly & Co. | 4.10% | 1.33% | 2.77% |
| AMDAdvanced Micro Devices Inc. | 3.56% | 1.27% | 2.29% |
| VVisa Inc | 3.01% | 0.92% | 2.09% |
| AMATApplied Materials, Inc. | 2.70% | 0.65% | 2.05% |
| PANWPalo Alto Networks Inc. | 2.79% | 0.45% | 2.34% |
| LRCXLam Research Corpcommon Stock | 2.60% | 0.60% | 2.00% |
| CATCaterpillar, Inc. | 2.26% | 0.61% | 1.65% |
| NFLXNetflix, Inc. | 1.93% | 0.47% | 1.46% |
92.1% of NULG is already inside SPY.
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, NULG or SPY?
NULG has an expense ratio of 0.26% while SPY charges 0.09%. SPY is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, NULG or SPY?
Over the past year NULG returned +11.73% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), NULG annualized +18.11% vs +14.10% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NULG or SPY?
NULG has been the more volatile fund at 18.8% annualized versus 15.6% for SPY. Worst drawdown: NULG -36.2% vs SPY -34.1%.
Should I hold both NULG and SPY?
NULG and SPY have a monthly-return correlation of 0.93, 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 NULG and SPY?
92.1% of NULG's money is in holdings SPY also owns. 22.5% of SPY's is in holdings NULG also owns. They hold 55 positions in common, counted across the 67 positions we hold weights for in NULG and 504 in SPY.
Which pays a higher dividend, NULG or SPY?
NULG yields 0.10% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than NULG?
SPY has a lower expense ratio. NULG led over the full window, SPY over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.93. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 45.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.