Nuveen ESG Large-Cap Value ETF

Nuveen ESG Large-Cap Value ETF (NULV) is an index fund that tracks the Nuveen ESG USA Large-Cap Value Index. That index holds about 100 large US value stocks that MSCI selects for stronger environmental, social and governance (ESG) scores, and it leaves out tobacco, alcohol, gambling, weapons and nuclear power companies. The fund's 0.26% yearly fee is a little below the 0.29% average of similar funds but well above Vanguard Russell 1000 Value ETF's 0.07%.

• Over the year to Oct 27, 2026, NULV returned +23.7%, 3rd of 9 among similar funds.
• Its 5-year annualized return was +9.7%.
• Its worst full calendar year was 2022 (-10.0%); its best was 2021 (+23.4%).
• The deepest fall in its price history was 21.5% (Jan 4, 2022 to Sep 30, 2022), recovered by Mar 6, 2024.

As of Jul 31, 2026, the fund held 101 securities; the ten largest made up 28.6% of assets.

By sector

• Over the three months to Jul 31, 2026, investors added a net $43.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +1.83%, -1.44%, +3.41%.

NULV tracks the Nuveen ESG USA Large-Cap Value Index, which MSCI owns and calculates. Nuveen and its sub-adviser have no say over which stocks go in. The index starts from the MSCI USA Value Index. That index holds large and mid-size US stocks that look cheap on three measures: book value to price, expected earnings to price, and dividend yield. MSCI ESG Research then scores each company against its industry peers on issues such as climate change, waste, treatment of workers and suppliers, product safety and business ethics. Companies with significant alcohol, tobacco, nuclear power, gambling or weapons businesses are left out. So are companies above certain carbon emissions and ownership limits.

Within each sector, the highest-scoring companies are added until they make up half of that sector's market value in the starting index. Stocks are weighted by market value (company size). Their weights are then adjusted so the sector mix stays close to the MSCI USA Value Index. As of July 31, 2026, the fund held 101 stocks, and Microsoft was the largest at 8.7%.

The index is rebalanced every February, May, August and November. The fund buys all or nearly all of the index's stocks in about the same proportions. Its portfolio turnover, the share of holdings replaced over a year, was 58%. The fund uses no leverage, options or swaps.

• NULV charges 0.26% a year, versus an average of 0.29% for the similar funds below (6th of 9, cheapest first).
• Of that, 0.25% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $27 in the first year and $331 over 10 years (assuming a 5% annual return).

It holds about 100 large US companies across all major sectors for a 0.26% fee, but it covers only the value side of the market, so it may sit alongside a broader or growth-focused fund.

NULV spreads money across about 100 large US value companies that pass an ESG screen. Its beta, a measure of how much a fund moves with the market, was 0.64 over the year to October 27, 2026. The fund launched in 2016, so it has no record from 2008. It lost 25.4% in the first quarter of 2020. In 2022 it fell 21.5% between January 4 and September 30 and took about 17 months, until March 6, 2024, to get back to its peak. Its worst calendar year was 2022, a loss of about 10%. Anyone who had to sell shares during that stretch would have locked in losses.

Income is modest: the yield was 1.36% as of October 27, 2026, and the fund pays once a year. In the SEC's standard $10,000 example, costs come to $27 after one year and $331 after 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.