NWLG vs VOO
Nuveen Winslow Large-Cap Growth ESG ETF vs Vanguard S&P 500 ETF
Which is better, NWLG or VOO?
Large Cap Growth against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 60.4%.
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 | NWLG | VOO |
|---|---|---|
| Expense Ratio | 0.65% | 0.03%Best |
| AUM | $9M | $997.4B |
| Dividend Yield | 0.00% | 1.04% |
| Holdings | 42 | 509 |
| Volatility (annualized) | 21.3% | 15.6%Best |
| Max Drawdown | -39.9% | -24.5%Best |
| $10,000 over 4.7 years | $11,691 | $16,009Best |
| Top 10 Weight | 60.4% | 36.4%Best |
| Fund Family | Nuveen | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Aug 4, 2021 | Sep 7, 2010 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 158 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. NWLG has data through Apr 6, 2026 and VOO through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 4.7 years row, are measured over the window both funds cover: Aug 5, 2021 to Apr 6, 2026 (4.7 years).
Risk: Volatility and Drawdowns
NWLG has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 15.6% 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 -39.9% for NWLG and -24.5% 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NWLG charges 0.65% per year while VOO charges 0.03%. On a $10,000 position that is $65 vs $3 annually, a gap of $62 per year that compounds over a long holding period. On income, NWLG currently yields 0.00% against 1.04% for VOO.
Holdings Overlap
92.5% of NWLG's money is in holdings VOO also owns. 40.3% of VOO's money is in holdings NWLG also owns.
Most of NWLG is already inside VOO. Owning both mostly buys the same companies twice.
The two holdings books were reported 181 days apart, NWLG as of Dec 31, 2025 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
35 positions in common, counted across the 39 positions we hold weights for in NWLG and 505 in VOO, against full books of 42 and 509.
What only one of them owns
Our book lists 461 positions for VOO that do not appear in our book for NWLG (59.1% of the fund), and 3 for NWLG that do not appear in VOO (5.2%).
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 NWLG | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 12.49% | 7.51% | 4.98% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 11.29% | 4.30% | 6.99% |
| AAPLApple, Inc | 8.76% | 6.59% | 2.17% |
| AMZNAmazon.Com Inc | 5.22% | 3.62% | 1.60% |
| GOOGAlphabet Inc | 6.20% | 2.59% | 3.61% |
| AVGOBroadcom Inc | 5.58% | 2.77% | 2.81% |
| METAMeta Platforms, Inc. | 3.44% | 1.92% | 1.52% |
| LLYEli Lilly & Co. | 2.66% | 1.47% | 1.19% |
| TSLATesla Inc | 2.20% | 1.84% | 0.36% |
| VVisa Inc | 2.24% | 0.87% | 1.37% |
92.5% of NWLG 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, NWLG or VOO?
NWLG has an expense ratio of 0.65% while VOO charges 0.03%. VOO is the cheaper option, by $62 a year on a $10,000 investment.
Which is riskier, NWLG or VOO?
NWLG has been the more volatile fund at 21.3% annualized versus 15.6% for VOO. Worst drawdown: NWLG -39.9% vs VOO -24.5%.
Should I hold both NWLG and VOO?
NWLG and VOO have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NWLG and VOO?
92.5% of NWLG's money is in holdings VOO also owns. 40.3% of VOO's is in holdings NWLG also owns. They hold 35 positions in common, counted across the 39 positions we hold weights for in NWLG and 505 in VOO.
Which pays a higher dividend, NWLG or VOO?
NWLG yields 0.00% while VOO yields 1.04%, so VOO currently pays the higher dividend yield.
Is VOO better than NWLG?
VOO has a lower expense ratio. VOO led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 60.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.