NULC vs SPY
NULC vs SPY
Nuveen ESG Large-Cap ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. NULC delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | NULC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.21% | 0.09% | |
| AUM | $70M | $789.1B | |
| Dividend Yield | 0.91% | 1.01% | |
| Holdings | 138 | 505 | |
| YTD Return | +16.93% | +13.79% | |
| 1Y Return | +23.89% | +23.66% | |
| 3Y Return (annualized) | +20.07% | +21.40% | |
| 5Y Return (annualized) | +10.83% | +13.37% | |
| Volatility (annualized) | 16.9% | 15.3% | |
| Max Drawdown | -34.9% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 3, 2019 | Jan 22, 1993 |
NULC vs SPY Performance
Nuveen ESG Large-Cap ETF (NULC) is a ETF from Nuveen and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NULC returned +23.89% while SPY returned +23.66%. Year to date, NULC is up 16.93% versus a gain of 13.79% for SPY.
Over three years, NULC compounded at +20.07% per year against +21.40% for SPY; over five years the annualized figures are +10.83% and +13.37% respectively. Across the full 7-year window we track, NULC has the edge at +15.66% annualized vs +8.85%. 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 15.3% 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 -34.9% for NULC and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 SPY charges 0.09%. On a $10,000 position that is $21 vs $9 annually, a gap of $12 per year that compounds over a long holding period. On income, NULC currently yields 0.91% against 1.01% for SPY.
Holdings Overlap
NULC and SPY share 124 holdings out of 516 unique holdings combined, representing a 38.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in NULC | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 8.01% | 7.31% | 0.70% |
| MSFT | 3.07% | 4.43% | 1.36% |
| AVGO | 3.76% | 2.73% | 1.03% |
| META | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
| V | Pro | Pro | Pro |
| CSCO | Pro | Pro | Pro |
| MA | Pro | Pro | Pro |
| COST | Pro | Pro | Pro |
| KO | Pro | Pro | Pro |
See all 10 holdings NULC shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, NULC or SPY?
NULC has an expense ratio of 0.21% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, NULC or SPY?
Over the past year NULC returned +23.89% vs +23.66% for SPY, so NULC leads on 1-year performance. Over the longest common window we track (7 years), NULC annualized +15.66% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NULC or SPY?
NULC has been the more volatile fund at 16.9% annualized versus 15.3% for SPY. Worst drawdown: NULC -34.9% vs SPY -56.5%.
Should I hold both NULC and SPY?
NULC and SPY have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between NULC and SPY?
NULC and SPY share 124 common holdings with a 38.5% weight overlap. Combined, they hold 516 unique securities.
Which pays a higher dividend, NULC or SPY?
NULC yields 0.91% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.