ESGU vs NULV: Grades, Fees and Holdings Compared

iShares ESG Aware MSCI USA ETF

ESGUANasdaq

Nuveen ESG Large-Cap Value

NULVBCboe

Overlap

30.3%by weight

Expense ratio

ESGU −0.11pt a year

ESGU0.15%NULV0.26%

Avg volume · 30D

ESGU 1.8×the volume

ESGU389KNULV213K

5Y return · a year

ESGU +1.4pt

ESGU+10.8%NULV+9.4%

ESGU vs NULV Performance

Oct 29, 2021 – Oct 30, 2026

+67.1%ESGU+57.0%NULV

Expense ratio: ESGU 0.15%, better; NULV 0.26%
Fund size: ESGU $17.8B; NULV $2.6B
1Y total return: ESGU +11.5%; NULV +25.1%, better
Yield (12M): ESGU 0.94%; NULV 1.35%, better
Holdings: ESGU 271; NULV 128
Avg volume (30D): ESGU 389K sh, better; NULV 213K sh
NAV per share: ESGU $165.22; NULV $54.47
52W range

ETF.net Grade

Pillar letters and Scores for ESGU, NULV, with each pillar’s weight
Pillar	ESGU	NULV
Cost30% weight	B68Higher	C46
Mission25% weight	A97Higher	A74
Risk15% weight	C50	A84Higher
Tradability15% weight	A92Higher	A78
Holdings10% weight	B59	B60Higher
Durability5% weight	A95Higher	A80

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. ESGU and NULV are both graded against the same 47 US ESG & Values Index funds, so their Grades compare head to head.

US ESG & Values Index⁠

Category · 47 funds

See all 47 ›

ESGU ranks 4th and NULV 16th of 47 funds in the US ESG & Values Index Category.

Rank 1AKLMNInvesco MSCI North America Climate ETFScore 82
Rank 2AEFIVState Street SPDR S&P 500 ESG ETFScore 79
Rank 3ASNPEXtrackers S&P 500 Scored & Screened ETFScore 78
Rank 4AESGUiShares ESG Aware MSCI USA ETFScore 76
Rank 5ADFSUDimensional US Sustainability Core 1 ETFScore 74
Rank 15BCVLCCalvert US Large-Cap Core Responsible Index ETFScore 67
Rank 16BNULVNuveen ESG Large-Cap ValueScore 66
Rank 17BPTLInspire 500 ETFScore 65

Our read on each fund

ETF.net Research

ESGUAiShares ESG Aware MSCI USA ETF

NULVBNuveen ESG Large-Cap Value

In short

ESGU Screening out companies is easy; keeping the market's shape while you do it is the hard part. ESGU's index optimizes toward stronger ESG characteristics while targeting risk and return similar to the broad MSCI USA Index.

NULV Most ESG funds hand you the whole market with the worst offenders stripped out. NULV picks a lane: large-cap US value stocks that clear an ESG screen, tracking a TIAA index in a portfolio of roughly 100 names.

Stated mandate

ESGU Seeks to track an index of large- and mid-cap U.S. companies selected for favorable environmental, social and governance (ESG) characteristics while seeking risk/return similar to the MSCI USA Index.

NULV The Fund seeks to track the investment results of the TIAA ESG USA Large-Cap Value Index before fees and expenses.

Why people hold it

ESGU Not a screen-and-drop portfolio: the index optimizes toward better ESG characteristics while targeting risk and return similar to the broad MSCI USA Index.ishares.com
0.15% a year, below the typical fund in its US ESG group, spread across roughly 300 large- and mid-cap names rather than a narrow shortlist.
Running since 2016, a multi-billion-dollar iShares fund that pays quarterly and sits in the top quartile of a crowded US ESG peer group.

NULV A style-box slice, not a blend. It tracks the TIAA ESG USA Large-Cap Value Index, so the value tilt is the mandate rather than a byproduct of screening the market.
Roughly 100 stocks instead of a screened S&P 500, so the value screen actually shows up in what you own.
Trading since 2016 and now a billion-dollar-plus fund, so there is a real history here, not a launch-week ticker.
Plain vanilla plumbing: a 1940 Act index ETF with no leverage, no derivatives overlay, nothing exotic to monitor. It lands in the upper half of its ESG peer group in our review.

Worth knowing

ESGU Cheaper seats in the same row: XVV at 0.08%, ESGV at 0.09%, SNPE and EFIV at 0.10%, against 0.15% here.
Market-like risk is the stated goal, so exclusions are lighter than a purist ESG fund and the holdings end up looking a lot like the broad US market.ishares.com
MSCI's ratings decide who makes the cut, so the portfolio reflects one provider's definition of ESG, not an industry standard.ishares.com

NULV At 0.26% a year, it costs more than the broad ESG index trackers at the top of this group, several of which sit under 0.15%. That is the toll for the value screen.
Distributions arrive once or twice a year, not quarterly or monthly.
The ESG screen sets the universe before the value ranking happens, so the holdings can look different from a conventional large-cap value index.

Full ESGU profile⁠

Full NULV profile⁠

ESGU vs NULV Holdings

How ESGU and NULV differ

Overlap by weight

30.3%

Shared holdings make up 92.5% of NULV and 31.6% of ESGU.

Level by level

Holdings100 in both30.3%
Sector11 Sectors80.8%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in ESGU and NULV, widest gap first
Sector	More in ESGUMore in NULV	ESGU	NULV
Technology	ESGU +12.0 points	38.4%	26.4%
Consumer Discretionary	ESGU +7.1 points	8.1%	1.0%
Financials	NULV +4.9 points	11.9%	16.8%
Consumer Staples	NULV +3.7 points	4.6%	8.3%
Health Care	NULV +3.4 points	10.6%	14.0%
Industrials	NULV +3.2 points	8.2%	11.4%
Materials	NULV +1.3 points	1.9%	3.2%
Utilities	NULV +1.2 points	1.8%	3.0%
Real Estate	NULV +1.2 points	2.1%	3.3%
Communication	NULV +0.4 points	8.5%	8.8%
Energy	ESGU +0.2 points	4.0%	3.8%

Country, concentration and asset class

Country by domicile

Country weights in ESGU and NULV, widest gap first
Country	More in ESGUMore in NULV	ESGU	NULV
United States	NULV +0.1 points	99.8%	99.9%
Brazil	ESGU +0.1 points	0.1%	0.0%
Ireland	NULV +0.1 points	0.0%	0.1%
China	ESGU +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

ESGU36.2%
NULV30.8%

Securities held

ESGU268
NULV127

Asset class

ESGU: Equity
NULV: Equity

Holdings

Only in ESGU168
In both100
Only in NULV27

Only in ESGU

168 securities, 68.3% of ESGU by weight

Apple7.66%
NVIDIA7.25%
Amazon.com Inc3.49%
Alphabet Class C2.89%
Broadcom Inc2.29%
Tesla Inc1.73%
Eli Lilly1.70%
Alphabet Class A1.58%
Micron Technology1.50%
JPMorgan Chase & Co1.34%
Visa Class A1.33%
Advanced Micro Devices1.29%
Exxonmobil Holdings Corp0.82%
Johnson & Johnson0.81%
Mastercard Class A0.74%
Costco Wholesale Corp0.65%
Hartford Insurance Group0.60%
Applied Material Inc0.58%
Lam Research0.56%
Palo Alto Networks0.55%
Palantir Technologies Class A0.50%
Rtx0.48%
Caterpillar Inc0.48%
Nisource0.47%
UnitedHealth Group0.46%
Ge Aerospace0.46%
Berkshire Hathaway Inc Class B0.46%
Intel Corporation0.45%
Texas Instrument0.42%
Nextera Energy0.41%
Linde PLC0.40%
Lowes Companies Inc0.38%
Bank of America0.36%
Metlife0.36%
Williams0.36%
Amgen Inc0.36%
Oracle0.35%
Ge Vernova0.35%
Trane Technologies PLC0.35%
Cummins Inc0.34%
Conocophillips0.33%
Analog Devices0.33%
Netflix0.32%
Church and Dwight Inc0.32%
Cheniere Energy0.32%
Crh Public Limited PLC0.32%
Mckesson Corp0.30%
Idexx Laboratories0.30%
Crowdstrike Holdings Class A0.29%
Colgate-Palmolive0.29%

Only in NULV

27 securities, 7.4% of NULV by weight

Slb Ltd1.45%
Centene Corp0.63%
Centerpoint Energy Inc0.54%
Comcast Corp New Class A0.49%
Kenvue Inc0.43%
Quest Diagnostics, Inc.0.41%
Verisign Inc.0.37%
Bunge Global SA0.36%
Allstate Corp.0.32%
Apollo Global Management0.27%
Roblox Corp0.27%
News Corp - A0.24%
Dupont De Nemours Inc0.23%
Fidelity National Info0.23%
Fiserv, Inc.0.20%
Fastenal Co.0.19%
Smurfit Westrock PLC0.12%
The Hershey Company0.12%
Ast Spacemobile Inc0.11%
M & T Bank Corp.0.09%
T-Mobile Us Inc0.08%
Ball Corporation0.08%
Jacobs Solutions Inc0.06%
Copart Inc0.04%
Lpl Financial Holdings In0.03%
Genuine Parts Co0.02%
Regions Financial Corp.<0.01%

Weight gaps

All 100 Holdings in both funds, largest gap first.

Holding weights in ESGU and NULV, widest gap first
Holding	More in ESGUMore in NULV	ESGU	NULV
MicrosoftMSFT	NULV +5.35 points	5.71%	11.06%
Meta Platforms Class AMETA	NULV +2.33 points	1.91%	4.24%
Coca-ColaKO	NULV +1.74 points	0.61%	2.35%
Cisco Systems IncCSCO	NULV +1.68 points	0.69%	2.37%
PfizerPFE	NULV +1.50 points	0.25%	1.75%
Nxp Semiconductors NVNXPI	NULV +1.46 points	0.14%	1.60%
Travelers CompaniesTRV	NULV +1.40 points	0.18%	1.58%
CitigroupC	NULV +1.40 points	0.34%	1.74%
Hewlett Packard EnterpriseHPE	NULV +1.31 points	0.17%	1.48%
OneokOKE	NULV +1.28 points	0.14%	1.42%
AbbVieABBV	NULV +1.25 points	0.89%	2.14%
Morgan StanleyMS	NULV +1.25 points	0.44%	1.69%
Procter & GamblePG	NULV +1.21 points	0.66%	1.87%
Gilead SciencesGILD	NULV +1.15 points	0.43%	1.58%
Parker-HannifinPH	NULV +1.10 points	0.14%	1.24%
DeereDE	NULV +1.09 points	0.23%	1.32%
Eaton PLCETN	NULV +1.07 points	0.21%	1.28%
Honeywell International IncHON	NULV +1.05 points	0.36%	1.41%
Pnc Financial Services GroupPNC	NULV +1.04 points	0.29%	1.33%
Union PacificUNP	NULV +1.03 points	0.32%	1.35%
Netapp IncNTAP	NULV +1.01 points	0.13%	1.14%
Baker Hughes Class ABKR	NULV +1.00 points	0.13%	1.13%
Bank of New York Mellon CorpBNY	NULV +0.99 points	0.43%	1.42%
Archer Daniels MidlandADM	NULV +0.95 points	0.14%	1.09%
Equinix ReitEQIX	NULV +0.94 points	0.36%	1.30%
3MMMM	NULV +0.93 points	0.26%	1.19%
Goldman Sachs GroupGS	NULV +0.92 points	0.52%	1.44%
Cardinal HealthCAH	NULV +0.92 points	0.28%	1.20%
Exelon CorpEXC	NULV +0.91 points	0.36%	1.27%
Cboe Global MarketsCBOE	NULV +0.87 points	0.16%	1.03%
Okta Class AOKTA	NULV +0.84 points	0.15%	0.99%
Verizon Communications IncVZ	NULV +0.81 points	0.55%	1.36%
Accenture PLC Class AACN	NULV +0.81 points	0.35%	1.16%
Steel Dynamics IncSTLD	NULV +0.80 points	0.11%	0.91%
S&P GlobalSPGI	NULV +0.79 points	0.40%	1.19%
International Business Machines CoIBM	NULV +0.79 points	0.40%	1.19%
ProgressivePGR	NULV +0.77 points	0.24%	1.01%
Prologis ReitPLD	NULV +0.77 points	0.28%	1.05%
MarshMRSH	NULV +0.75 points	0.11%	0.86%
Target CorpTGT	NULV +0.72 points	0.18%	0.90%
Merck & Co IncMRK	NULV +0.72 points	0.53%	1.25%
EcolabECL	NULV +0.69 points	0.43%	1.12%
Royalty Pharma PLC Class ARPRX	NULV +0.68 points	0.13%	0.81%
DanaherDHR	NULV +0.67 points	0.20%	0.87%
SempraSRE	NULV +0.64 points	0.10%	0.74%
Ppg IndustriesPPG	NULV +0.63 points	0.15%	0.78%
Edwards LifesciencesEW	NULV +0.58 points	0.22%	0.80%
Intercontinental Exchange IncICE	NULV +0.56 points	0.22%	0.78%
SalesforceCRM	NULV +0.56 points	0.34%	0.90%
Johnson Controls International PLCJCI	NULV +0.56 points	0.13%	0.69%
Eversource EnergyES	NULV +0.55 points	0.16%	0.71%
CignaCI	NULV +0.51 points	0.21%	0.72%
AT&TT	NULV +0.47 points	0.23%	0.70%
Keurig Dr Pepper IncKDP	NULV +0.45 points	0.12%	0.57%
Sunbelt Rentals Holdings IncSUNB	NULV +0.42 points	0.12%	0.54%
F5FFIV	NULV +0.42 points	0.12%	0.54%
West Pharmaceutical ServicesWST	NULV +0.42 points	0.12%	0.54%
State StreetSTT	NULV +0.39 points	0.24%	0.63%
Keysight TechnologiesKEYS	NULV +0.38 points	0.16%	0.54%
United RentalsURI	NULV +0.38 points	0.11%	0.49%
Twilio Class ATWLO	NULV +0.35 points	0.09%	0.44%
Dollar General CorpDG	NULV +0.32 points	0.11%	0.43%
Ch Robinson WorldwideCHRW	NULV +0.31 points	0.09%	0.40%
Digital Realty Trust ReitDLR	NULV +0.27 points	0.20%	0.47%
StrykerSYK	NULV +0.26 points	0.32%	0.58%
American ExpressAXP	NULV +0.25 points	0.39%	0.64%
Us BancorpUSB	NULV +0.24 points	0.21%	0.45%
CsxCSX	NULV +0.23 points	0.11%	0.34%
Ferguson EnterprisesFERG	NULV +0.20 points	0.10%	0.30%
SynopsysSNPS	NULV +0.19 points	0.26%	0.45%
HumanaHUM	NULV +0.19 points	0.11%	0.30%
First SolarFSLR	NULV +0.18 points	0.08%	0.26%
Elevance Health IncELV	NULV +0.14 points	0.20%	0.34%
Zoetis Inc Class AZTS	ESGU +0.14 points	0.16%	0.02%
BlackRockBLK	ESGU +0.13 points	0.27%	0.14%
Home DepotHD	NULV +0.14 points	0.66%	0.80%
SyscoSYY	ESGU +0.13 points	0.23%	0.10%
Expeditors International of WashinEXPD	ESGU +0.10 points	0.18%	0.08%
Ww Grainger IncGWW	ESGU +0.11 points	0.30%	0.19%
American Tower ReitAMT	ESGU +0.10 points	0.39%	0.29%
Coeur MiningCDE	NULV +0.10 points	0.06%	0.16%
Vertex PharmaceuticalsVRTX	ESGU +0.08 points	0.28%	0.20%
PayPal HoldingsPYPL	ESGU +0.08 points	0.09%	0.01%
Incyte CorpINCY	ESGU +0.08 points	0.10%	0.02%
Ares Management Class AARES	ESGU +0.07 points	0.09%	0.02%
Xylem IncXYL	ESGU +0.07 points	0.15%	0.08%
Walt DisneyDIS	NULV +0.06 points	0.27%	0.33%
T Rowe Price GroupTROW	ESGU +0.04 points	0.17%	0.13%
Automatic Data Processing IncADP	NULV +0.04 points	0.40%	0.44%
Sherwin WilliamsSHW	ESGU +0.04 points	0.16%	0.12%
Willis Towers WatsonWTW	ESGU +0.04 points	0.10%	0.06%
SterisSTE	NULV +0.03 points	0.35%	0.38%
Fifth Third BancorpFITB	NULV +0.03 points	0.15%	0.18%
Kraft HeinzKHC	ESGU +0.02 points	0.20%	0.18%
Cbre Group Class ACBRE	ESGU +0.03 points	0.13%	0.10%
Dollar Tree IncDLTR	ESGU +0.01 points	0.10%	0.09%
Agilent Technologies IncA	NULV +0.01 points	0.20%	0.21%
IntuitINTU	NULV +0.01 points	0.19%	0.20%
BiogenBIIB	ESGU +0.01 points	0.12%	0.11%
Yum BrandsYUM	Same weight	0.11%	0.11%

All 268 ESGU holdings⁠All 128 NULV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ESGU vs NULV Cost

Overpaying NULV vs ESGU

$2,221

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ESGU 0.15%
$3,137
NULV 0.26%
$5,358

Amount$10,000

Years30 years

Cost over time

ESGU 0.15%
NULV 0.26%
Overpaying

Year by year

Year	ESGU	NULV	Overpaying
10	$274	$473	$199
20	$1,071	$1,838	$767
30	$3,137	$5,358	$2,221

Expense ratio

0.15%ESGU, cheaper
0.26%NULV

ESGU0.15%NULV0.26%

0.08%0.95%

Middle half of US ESG & Values Index funds
Median 0.25%

ESGU 13th cheapest of 47 funds

NULV 25th cheapest of 47 funds

ESGU vs NULV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ESGU 0.94%; NULV 1.35%, better
Payout (12M): ESGU $1.55; NULV $0.74
Last payment: ESGU $0.38; NULV $0.74
Ex-dividend: ESGU Sep 15, 2026; NULV Dec 18, 2025
Paid on: ESGU Sep 18, 2026; NULV Dec 19, 2025
Frequency: ESGU Quarterly; NULV Annual

Distribution history

Per share, 2017 to 2026, same scale for both

ESGUQuarterly · 41 paymentsAll ESGU payments⁠

NULVAnnual · 9 paymentsAll NULV payments⁠

ESGU vs NULV Risk

Fall from peak · 5 years

ESGU
NULV

Risk facts

VolatilityStd dev, 3 years: ESGU 12.8%NULV 12.5%, better
Return per unit of riskSharpe ratio, 3 years: ESGU 1.35, betterNULV 1.25
Worst fallMax drawdown, 5 years: ESGU −26.1%NULV −21.5%, better
Market sensitivityBeta, 5 years: ESGU 1.04NULV 0.82; Market = 1

ESGU and NULV in the news

All news⁠

ETF Filings
iShares files for a screened MSCI USA ETF that omits ESG from the name
Sep 4, 2026ESGU

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ESGU vs NULV

In short

Stated mandate

Why people hold it

Worth knowing

How ESGU and NULV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ESGU

Only in NULV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

iShares files for a screened MSCI USA ETF that omits ESG from the name

How ESGU and NULV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ESGU

Only in NULV

Weight gaps