USMV vs. NULC ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to Nuveen ESG Large-Cap ETF (NULC)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

NULC

Nuveen ESG Large-Cap ETF

NULC Description

The investment seeks to track the investment results, before fees and expenses, of the ICE BofAML Enhanced Yield 1-5 Year US Broad Bond Index (the "index"). Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in component securities of the index. The index is designed to broadly capture the 1-5 year U.S. investment grade fixed income market, as represented by a modified version of the ICE BofAML 1-5 Year US Broad Market Index.

Grade (RS Rating)

Last Trade

$48.43

Average Daily Volume

1,139

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

Performance

Period	USMV	NULC
30 Days	1.70%	2.83%
60 Days	2.42%	5.29%
90 Days	4.02%	7.13%
12 Months	25.63%	30.46%

47 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in NULC	Overlap
ACGL	D	0.68%	0.12%	0.12%
ADP	B	0.09%	0.97%	0.09%
AKAM	D	0.39%	0.07%	0.07%
AMGN	D	0.59%	0.96%	0.59%
AZO	C	0.98%	0.03%	0.03%
CBOE	B	0.85%	0.43%	0.43%
CDNS	B	0.18%	0.6%	0.18%
CI	F	0.21%	0.08%	0.08%
CMCSA	B	0.39%	0.75%	0.39%
CRM	B	0.05%	1.59%	0.05%
EA	A	0.89%	0.36%	0.36%
ED	D	1.13%	0.65%	0.65%
FI	A	0.69%	1.75%	0.69%
FSLR	F	0.06%	0.36%	0.06%
GILD	C	0.94%	0.69%	0.69%
GOOG	C	0.16%	1.78%	0.16%
HD	A	0.3%	0.21%	0.21%
HOLX	D	0.16%	0.35%	0.16%
IBM	C	1.66%	1.71%	1.66%
IT	C	0.35%	0.07%	0.07%
JNPR	F	0.45%	0.22%	0.22%
KEYS	A	0.55%	0.57%	0.55%
KO	D	0.1%	1.57%	0.1%
KR	B	0.61%	0.44%	0.44%
LLY	F	1.25%	2.08%	1.25%
MA	C	0.7%	2.09%	0.7%
MCD	D	1.25%	1.17%	1.17%
MCK	B	1.35%	1.49%	1.35%
MELI	D	0.18%	1.32%	0.18%
MMC	B	1.11%	1.38%	1.11%
MSFT	F	1.34%	6.71%	1.34%
NEM	D	0.46%	0.19%	0.19%
NTAP	C	0.22%	0.5%	0.22%
NVDA	C	0.67%	8.24%	0.67%
PEP	F	1.01%	0.74%	0.74%
PG	A	1.23%	1.47%	1.23%
PGR	A	1.67%	1.58%	1.58%
SNPS	B	0.18%	0.91%	0.18%
STX	D	0.16%	0.38%	0.16%
T	A	0.74%	0.88%	0.74%
TJX	A	0.45%	1.28%	0.45%
TRV	B	1.15%	0.49%	0.49%
TXN	C	1.39%	0.61%	0.61%
V	A	0.9%	2.21%	0.9%
VRTX	F	0.69%	0.3%	0.3%
VZ	C	1.35%	0.22%	0.22%
WTW	B	0.38%	0.05%	0.05%

USMV Overweight 123 Positions Relative to NULC

Symbol	Grade	Weight
TMUS	B	1.95%
MSI	B	1.81%
WMT	A	1.78%
WCN	A	1.56%
RSG	A	1.55%
BRK.A	B	1.55%
DUK	C	1.49%
CSCO	B	1.47%
CB	C	1.47%
APH	A	1.44%
WM	A	1.44%
NOC	D	1.43%
SO	D	1.35%
UNH	C	1.34%
ORCL	B	1.31%
ROP	B	1.3%
ACN	C	1.29%
AJG	B	1.27%
AVGO	D	1.19%
JNJ	D	1.18%
ABBV	D	1.04%
MRK	F	1.01%
GDDY	A	1.0%
AAPL	C	0.99%
FCNCA	A	0.88%
LMT	D	0.82%
K	A	0.8%
WEC	A	0.78%
CTSH	B	0.76%
NOW	A	0.75%
TSN	B	0.71%
ORLY	B	0.68%
COR	B	0.67%
GIS	D	0.66%
VRSN	F	0.64%
FICO	B	0.59%
REGN	F	0.59%
KDP	D	0.59%
TDY	B	0.57%
BDX	F	0.56%
FANG	D	0.55%
FFIV	B	0.55%
MPC	D	0.54%
INCY	C	0.53%
AON	A	0.53%
CME	A	0.53%
PTC	A	0.52%
ELV	F	0.52%
YUM	B	0.5%
BMY	B	0.49%
XEL	A	0.46%
UBER	D	0.45%
XOM	B	0.45%
MDLZ	F	0.44%
WDAY	B	0.43%
EG	C	0.43%
ERIE	D	0.42%
VRSK	A	0.42%
CL	D	0.41%
CHD	B	0.4%
HUM	C	0.4%
BAH	F	0.39%
AEP	D	0.39%
KHC	F	0.38%
CTVA	C	0.38%
ROL	B	0.36%
AFG	A	0.35%
GEN	B	0.35%
CDW	F	0.35%
CVX	A	0.34%
MKL	A	0.34%
GRMN	B	0.33%
CPB	D	0.33%
AIZ	A	0.32%
NBIX	C	0.32%
WMB	A	0.31%
WRB	A	0.31%
GLW	B	0.31%
FWONK	B	0.31%
HSY	F	0.3%
ANET	C	0.29%
ICE	C	0.28%
L	A	0.28%
HON	B	0.25%
AEE	A	0.24%
HUBS	A	0.24%
ADI	D	0.23%
D	C	0.23%
AZPN	A	0.23%
ALNY	D	0.22%
BMRN	D	0.22%
HRL	D	0.21%
KMB	D	0.21%
TW	A	0.2%
DTE	C	0.2%
PKG	A	0.2%
PFE	D	0.2%
DPZ	C	0.19%
CRWD	B	0.19%
CMS	C	0.19%
MOH	F	0.18%
EOG	A	0.17%
LIN	D	0.16%
UTHR	C	0.14%
AMZN	C	0.14%
MDT	D	0.13%
DELL	C	0.12%
HIG	B	0.12%
OXY	D	0.12%
DGX	A	0.11%
LNT	A	0.1%
RTX	C	0.09%
ABT	B	0.09%
OTIS	C	0.07%
TEL	B	0.07%
ATO	A	0.06%
PSX	C	0.06%
KNX	B	0.06%
VLO	C	0.05%
BR	A	0.05%
GD	F	0.05%
ULTA	F	0.04%
CVS	D	0.04%

USMV Underweight 74 Positions Relative to NULC

Symbol	Grade	Weight
GOOGL	C	-2.91%
TSLA	B	-1.95%
ETN	A	-1.74%
DIS	B	-1.66%
MS	A	-1.57%
SPGI	C	-1.51%
DHR	F	-1.31%
OKE	A	-1.3%
PNC	B	-1.28%
ECL	D	-1.2%
CARR	D	-1.18%
HCA	F	-1.16%
INTC	D	-1.07%
UPS	C	-1.06%
AMT	D	-1.01%
LNG	B	-0.98%
MRVL	B	-0.96%
CMG	B	-0.96%
AMAT	F	-0.94%
C	A	-0.94%
AXON	A	-0.87%
BKR	B	-0.86%
TGT	F	-0.8%
EW	C	-0.78%
LOW	D	-0.78%
EXC	C	-0.75%
AMD	F	-0.73%
HPQ	B	-0.71%
VEEV	C	-0.63%
ZTS	D	-0.56%
MMM	D	-0.56%
HPE	B	-0.54%
TEAM	A	-0.53%
ADM	D	-0.5%
URI	B	-0.47%
IRM	D	-0.46%
WST	C	-0.45%
EBAY	D	-0.45%
BKNG	A	-0.45%
ADBE	C	-0.45%
AWK	D	-0.44%
FTV	C	-0.43%
EQIX	A	-0.42%
LYB	F	-0.41%
STLD	B	-0.41%
WDC	D	-0.41%
TFC	A	-0.38%
TRU	D	-0.37%
HOOD	B	-0.36%
TRMB	B	-0.34%
BALL	D	-0.33%
DECK	A	-0.32%
J	F	-0.32%
MCO	B	-0.3%
GS	A	-0.23%
FDX	B	-0.23%
SOLV	C	-0.2%
EME	C	-0.19%
A	D	-0.19%
PANW	C	-0.18%
MOS	F	-0.16%
MKTX	D	-0.16%
LPLA	A	-0.13%
CAH	B	-0.13%
DINO	D	-0.13%
NXPI	D	-0.1%
USB	A	-0.07%
WELL	A	-0.07%
IDXX	F	-0.05%
UNP	C	-0.04%
DXCM	D	-0.03%
FBIN	D	-0.02%
BG	F	-0.01%
DOV	A	-0.01%