EFIV vs NUMV

EFIVAState Street SPDR S&P 500 ESG ETF

NUMVCNuveen ESG Mid-Cap Value

In short

EFIV A screened S&P 500 that still looks like one. EFIV trims to about 300 names on ESG criteria but holds industry-group weights close to the parent index, for 0.10% a year.

NUMV Most ESG funds are the S&P 500 with the worst offenders stripped out. NUMV works a narrower lane: US mid-cap value stocks, screened for ESG, controversial business involvement and carbon, in an index it has tracked since 2016.

Stated mandate

EFIV The Fund seeks to track an index of securities selected using environmental, social, and governance sustainability criteria while retaining industry-group weights broadly similar to the S&P 500 Index.

NUMV The Fund seeks to track the performance of a U.S. mid-cap value index before fees and expenses. The index applies ESG criteria to its eligible equity securities.

Why people hold it

• EFIV Charges 0.10% a year, well under the 0.25% typical of its values-screened peer group.
• Keeps industry-group weights broadly similar to the S&P 500, so the screen changes which names you own more than which sectors.
• Tracks its declared index very tightly, one of the cleaner implementations in its cohort.
• Straightforward 1940 Act index fund from SPDR, running since 2020, distributing quarterly.

• NUMV The ESG aisle is crowded with large-cap blend. NUMV takes the mid-cap value corner, applying its screens to a mid-cap value parent index instead of a megacap benchmark.sec.gov
• Screens reach past ESG scores into controversial business involvement and low-carbon criteria, with the index rebalanced quarterly.nuveen.com
• Trading since 2016, early for an ESG index fund, and spread across roughly 100 mid-caps rather than a short list of names.
• Shareholder reports show the fund against both its custom ESG index and the unscreened MSCI USA Mid-Cap Value base index, so the cost of the screens is visible.sec.gov

Worth knowing

• EFIV About 300 stocks, not 500. The screens remove names, so results can diverge from the headline S&P 500.
• Cheaper shelf-mates exist: XVV at 0.08% and ESGV at 0.09% undercut it on fee.
• Mid-size asset base and moderate trading volume, which can mean wider spreads than the mega-cap index giants.

• NUMV At 0.31% a year, it charges more than the typical fund in its ESG peer group and roughly triple the screened S&P 500 trackers like ESGV and XVV.
• Volume is light next to the headline ESG funds, so spreads and order size matter more here.
• Dividends arrive once or twice a year rather than quarterly.

Full EFIV profile⁠

Full NUMV profile⁠