Nuveen Enhanced Yield U.S. Aggregate Bond ETF

Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) tracks the ICE BofA Enhanced Yield U.S. Broad Bond Index. That index is a rules-based version of the U.S. investment-grade bond market that leans toward higher-yielding types of bonds. The fund's 0.19% expense ratio is well above the 0.08% average of seven similar funds. Its three-year return ranked first in that group as of October 27, 2026.

• Over the year to Oct 27, 2026, NUAG returned -1.2%, 3rd of 8 among similar funds.
• Its 5-year annualized return was +0.1%.
• Its worst full calendar year was 2022 (-14.0%); its best was 2023 (+7.5%).
• The deepest fall in its price history was 19.8% (Aug 4, 2020 to Oct 24, 2022), recovered by Feb 10, 2026.

As of Jul 31, 2026, the fund held 1,305 securities; the ten largest made up 19.4% of assets.

The bonds mature in 14.5 years on average (weighted by size), with an average coupon of 4.55%.

• Over the three months to Jul 31, 2026, investors added a net $5.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.46%, +0.25%, -1.40%.

The fund tracks the ICE BofA Enhanced Yield U.S. Broad Bond Index, which starts from the ICE BofA U.S. Broad Market Index. That base index covers U.S. dollar, investment-grade (rated as lower default risk), taxable, fixed-rate bonds with at least one year left to maturity. It includes Treasuries, corporate bonds, mortgage-backed securities and other asset-backed securities. Most bond indexes weight each bond by its market value. This one sorts bonds into groups by asset class, sector, credit quality, duration (sensitivity to interest rates) and maturity. It then gives more weight to the groups likely to yield more than the base index.

Rules keep the index close to the base index. They limit how far sector weights, duration, turnover and tracking error (how much returns differ) can drift. No group can have a negative weight. Within each group, bonds are weighted by market value. The index held 11,624 securities as of October 31, 2025. The fund doesn't buy them all. It uses representative sampling, which means holding a smaller set with similar traits, and it held 1,305 bonds as of July 31, 2026. Both the index and the fund rebalance monthly.

The fund may also use "dollar rolls." In a dollar roll, it sells mortgage securities for delivery this month and agrees to buy back similar ones later. This can add income, but it can also make the share price swing more, and it relies on the other party keeping its side of the deal.

• NUAG charges 0.19% a year, versus an average of 0.08% for the similar funds below (8th of 8, cheapest first).
• Of that, 0.18% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $243 over 10 years (assuming a 5% annual return).

It spreads money across the broad U.S. investment-grade bond market, with Treasuries, corporate bonds and agency mortgage bonds, so it could serve as a portfolio's main bond fund.

As of July 31, 2026, NUAG held 28% of its assets in Treasuries, 40% in corporate bonds and 22% in bonds from government-sponsored enterprises such as Fannie Mae. It had a 4.68% trailing 12-month yield as of October 27, 2026, and it pays monthly. Bonds can still fall hard. The fund lost 14.09% in 2022 as interest rates rose. Its deepest drop was 19.8%, from August 2020 to October 2022, and it didn't recover until February 2026, about 40 months later. Anyone selling shares for spending money during that stretch would have locked in losses. Price data starts in June 2020, so the 2008 crisis and the 2020 crash aren't covered here. The SEC's standard example puts costs at $19 for the first year and $243 over 10 years on $10,000. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).