NULC vs SIZE: Grades, Fees and Holdings Compared

Nuveen ESG Large-Cap

NULCBCboe

iShares MSCI USA Size Factor ETF

SIZEANYSE Arca

Overlap

22.1%by weight

Expense ratio

SIZE −0.06pt a year

NULC0.21%SIZE0.15%

Avg volume · 30D

SIZE 1.3×the volume

NULC4.03KSIZE5.21K

5Y return · a year

NULC +1.8pt

NULC+9.2%SIZE+7.4%

NULC vs SIZE Performance

Nov 2, 2021 – Nov 2, 2026

+55.1%NULC+43.0%SIZE

Expense ratio: NULC 0.21%; SIZE 0.15%, better
Fund size: NULC $80M; SIZE $433M
1Y total return: NULC +13.9%; SIZE +14.4%, better
Yield (12M): NULC 8.90%, better; SIZE 1.36%
Holdings: NULC 129; SIZE 518
Avg volume (30D): NULC 4.03K sh; SIZE 5.21K sh, better
NAV per share: NULC $54.93; SIZE $180.22
52W range

ETF.net Grade

Pillar letters and Scores for NULC, SIZE, with each pillar’s weight
Pillar	NULC	SIZE
Cost30% weight	A72	A81Higher
Mission25% weight	A98Higher	A93
Risk15% weight	B63	B66Higher
Tradability15% weight	D26Higher	F23
Holdings10% weight	C50	A88Higher
Durability5% weight	D32	B57Higher

Rank among US Factor Index funds

How we build Categories ›

Same Category. NULC and SIZE are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds

See all 30 ›

SIZE ranks 3rd and NULC 8th of 30 funds in the US Factor Index Category.

Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
Rank 3ASIZEiShares MSCI USA Size Factor ETFScore 72
Rank 4ADXUVU.S. Vector Equity Portfolio ETF Class SharesScore 70
Rank 7BSPMOInvesco S&P 500 Momentum ETFScore 67
Rank 8BNULCNuveen ESG Large-CapScore 66
Rank 8BPRFInvesco RAFI US 1000 ETFScore 66

Our read on each fund

ETF.net Research

NULCBNuveen ESG Large-Cap

SIZEAiShares MSCI USA Size Factor ETF

In short

NULC An ESG screen on a growth-tilted US large-cap portfolio: roughly 140 names tracking the TIAA ESG USA Large-Cap Index at 0.21% a year, under the typical US factor fund's fee.

SIZE The size factor without leaving the large-cap pool: SIZE holds roughly 500 US stocks and leans toward the smaller names in that universe, spreading weight away from the mega-cap giants. An iShares factor original from 2013.

Stated mandate

NULC The Fund seeks to track, before fees and expenses, the TIAA ESG USA Large-Cap Index.

SIZE The fund seeks to track an index of U.S. stocks that have smaller market capitalizations relative to their peers.

Why people hold it

NULC At 0.21% a year it undercuts the 0.28% median for US factor ETFs, and sits below iShares' ESG-screened SUSA at 0.25%.
One named benchmark, the TIAA ESG USA Large-Cap Index, and a portfolio that hews closely to that brief. One of the tighter mandate builds among US factor funds.
Roughly 140 stocks with a growth lean: different enough from a plain large-cap index fund to matter, still spread across the big end of the market.
Live since 2019, so there is a real trading history behind the ESG label rather than a back-test.

SIZE Charges 0.15%, roughly half the typical fee among US factor ETFs.
Tracks the MSCI USA Low Size Index tightly, one of the closer index implementations in its peer group.
Roughly 500 holdings, so no single name dominates the way it does in a cap-weighted US index.
Running since 2013, one of the original iShares single-factor funds rather than a recent launch.ishares.com

Worth knowing

NULC Thinly traded. Spreads can run wider than the giants of the ESG aisle, and size matters more when you place an order.
A smaller fund by asset base, which leaves less cushion than the household names if a sponsor ever reshuffles its lineup.
ESG screens plus a growth tilt mean the portfolio can look and behave differently from the broad US market in either direction.

SIZE Thinly traded next to headline index funds, so bid-ask spreads can run wider and bigger orders need more care.
This is a tilt, not a small-cap fund: the index draws from US large and mid caps and favors the smaller end of that pool.
A mid-sized fund by category standards, not one of the asset-gathering giants. Pays quarterly.

Full NULC profile⁠

Full SIZE profile⁠

NULC vs SIZE Holdings

How NULC and SIZE differ

Overlap by weight

22.1%

Shared holdings make up 99.7% of NULC and 25.2% of SIZE.

Level by level

Holdings127 in both22.1%
Sector11 Sectors71.7%
Countryby domicile98.5%
Asset classEquity100%

Sector

Sector weights in NULC and SIZE, widest gap first
Sector	More in NULCMore in SIZE	NULC	SIZE
Technology	NULC +23.8 points	41.7%	17.9%
Industrials	SIZE +7.8 points	8.4%	16.2%
Communication	NULC +4.5 points	7.8%	3.3%
Financials	SIZE +4.0 points	12.1%	16.1%
Materials	SIZE +3.5 points	1.3%	4.8%
Utilities	SIZE +3.5 points	1.7%	5.2%
Real Estate	SIZE +2.6 points	1.9%	4.5%
Consumer Discretionary	SIZE +2.6 points	6.4%	9.0%
Energy	SIZE +2.3 points	2.0%	4.3%
Health Care	SIZE +1.7 points	11.1%	12.8%
Consumer Staples	SIZE +0.1 points	5.6%	5.7%

Country, concentration and asset class

Country by domicile

Country weights in NULC and SIZE, widest gap first
Country	More in NULCMore in SIZE	NULC	SIZE
United States	NULC +0.9 points	98.6%	97.7%
United Kingdom	SIZE +0.6 points	0.0%	0.6%
Brazil	NULC +0.5 points	0.7%	0.2%
Other countries (6)	SIZE +0.8 points	0.7%	1.5%

Concentration

Weight in the 10 largest Holdings

NULC32.8%
SIZE3.7%

Securities held

NULC128
SIZE515

Asset class

NULC: Equity
SIZE: Equity

Holdings

Only in NULC1
In both127
Only in SIZE388

Only in NULC

1 security, 0.2% of NULC by weight

Bunge Global SA0.18%

Only in SIZE

388 securities, 74.7% of SIZE by weight

Atlassian Corp Class A0.42%
Natera0.40%
Sharkninja0.39%
Vivmark Residential0.36%
Snowflake0.33%
Dell Technologies Inc Class C0.32%
Illumina Inc0.32%
Everpure Inc Class A0.32%
Best Buy0.32%
Marathon Petroleum0.31%
Iqvia Holdings Inc0.29%
Cdw0.29%
Workday Class A0.29%
Crowdstrike Holdings Class A0.29%
Dollar Tree Inc0.28%
Phillips 660.28%
Williams Sonoma Inc0.28%
Valero Energy Corp0.28%
Thermo Fisher Scientific0.27%
Global Payments Inc0.27%
Labcorp Holdings0.27%
Estee Lauder Inc Class A0.27%
Regeneron Pharmaceuticals0.27%
Jacobs Solutions Inc0.27%
Roper Technologies0.27%
Toast Class A0.27%
Hp Inc0.26%
Samsara Class A0.26%
Waters Corp0.26%
Zscaler0.26%
Genuine Parts0.26%
Corebridge Financial Inc0.25%
Ulta Beauty Inc0.25%
Quest Diagnostics Inc0.25%
Expedia Group0.25%
Biogen0.25%
Arthur J Gallagher0.25%
Becton Dickinson0.25%
Humana0.25%
Amcor PLC0.25%
International Flavors & Fragrances0.25%
Cloudflare Class A0.25%
Cheniere Energy0.25%
Veralto0.25%
Revolution Medicines0.24%
Royalty Pharma PLC Class A0.24%
Masco0.24%
Dollar General Corp0.24%
Packaging Corp of America0.24%
Cognizant Technology Solutions Cla0.24%

Weight gaps

The 100 widest of 127 Holdings in both funds.

Holding weights in NULC and SIZE, widest gap first
Holding	More in NULCMore in SIZE	NULC	SIZE
NVIDIA CorpNVDA	NULC +8.24 points	8.38%	0.14%
Microsoft CorpMSFT	NULC +5.38 points	5.58%	0.20%
Meta Platforms IncMETA	NULC +3.32 points	3.49%	0.17%
Broadcom IncAVGO	NULC +3.06 points	3.19%	0.13%
Advanced Micro DevicesAMD	NULC +2.43 points	2.63%	0.20%
Visa IncV	NULC +1.96 points	2.17%	0.21%
Mastercard, Inc - AMA	NULC +1.80 points	2.02%	0.22%
Coca Cola Co.KO	NULC +1.68 points	1.88%	0.20%
Analog Devices, Inc.ADI	NULC +1.55 points	1.73%	0.18%
Cisco Systems, Inc.CSCO	NULC +1.54 points	1.69%	0.15%
Procter & Gamble Co/ThePG	NULC +1.53 points	1.73%	0.20%
Merck & Company, IncMRK	NULC +1.34 points	1.57%	0.23%
Palo Alto Networks IncPANW	NULC +1.33 points	1.60%	0.27%
AbbVie Inc.ABBV	NULC +1.26 points	1.50%	0.24%
Morgan StanleyMS	NULC +1.25 points	1.42%	0.17%
Ge Vernova LlcGEV	NULC +1.20 points	1.35%	0.15%
Equinix IncEQIX	NULC +1.13 points	1.30%	0.17%
Danaher Corp.DHR	NULC +1.11 points	1.36%	0.25%
Union Pac Corp.UNP	NULC +1.08 points	1.28%	0.20%
Eaton Corp PLCETN	NULC +1.08 points	1.26%	0.18%
International Business MaIBM	NULC +1.06 points	1.26%	0.20%
Seagate Technology HoldSTX	NULC +1.05 points	1.20%	0.15%
Lam Research CorpLRCX	NULC +1.04 points	1.19%	0.15%
Salesforce IncCRM	NULC +1.03 points	1.26%	0.23%
Hilton Worldwide HoldHLT	NULC +1.02 points	1.23%	0.21%
Western DigitalWDC	NULC +1.00 points	1.14%	0.14%
Tjx Companies, Inc.TJX	NULC +0.98 points	1.14%	0.16%
General MotorsGM	NULC +0.97 points	1.19%	0.22%
Pfizer, Inc.PFE	NULC +0.95 points	1.16%	0.21%
Ecolab IncECL	NULC +0.95 points	1.17%	0.22%
S&P Global IncSPGI	NULC +0.88 points	1.08%	0.20%
Howmet Aerospace IncHWM	NULC +0.87 points	1.01%	0.14%
Marsh & Mclennan Cos, IncMRSH	NULC +0.80 points	1.02%	0.22%
Oneok IncOKE	NULC +0.75 points	0.94%	0.19%
Synopsys IncSNPS	NULC +0.74 points	0.91%	0.17%
U.s. BancorpUSB	NULC +0.73 points	0.93%	0.20%
Goldman Sachs Group, Inc.GS	NULC +0.69 points	0.86%	0.17%
Sempra EnergySRE	NULC +0.69 points	0.86%	0.17%
Baker Hughes CoBKR	NULC +0.69 points	0.84%	0.15%
Pnc Financial Services GrPNC	NULC +0.67 points	0.86%	0.19%
Home Depot IncHD	NULC +0.64 points	0.83%	0.19%
Keysight Technologies IncKEYS	NULC +0.63 points	0.79%	0.16%
Edwards Lifescience Corp.EW	NULC +0.60 points	0.81%	0.21%
Elevance Health IncELV	NULC +0.58 points	0.77%	0.19%
Moody's CorporationMCO	NULC +0.50 points	0.71%	0.21%
Mercadolibre IncMELI	NULC +0.51 points	0.69%	0.18%
Cadence Design SystemsCDNS	NULC +0.50 points	0.67%	0.17%
Intercontinental ExchangeICE	NULC +0.48 points	0.68%	0.20%
Ebay, Inc.EBAY	NULC +0.48 points	0.68%	0.20%
Booking Holdings IncBKNG	NULC +0.46 points	0.63%	0.17%
Consolidated Edison, Inc.ED	NULC +0.46 points	0.66%	0.20%
Garmin LtdGRMN	NULC +0.45 points	0.67%	0.22%
Netflix.com Inc.NFLX	NULC +0.44 points	0.56%	0.12%
Adobe IncADBE	NULC +0.43 points	0.61%	0.18%
Verizon CommunicationsVZ	NULC +0.42 points	0.58%	0.16%
Hewlett-Packard EnterprisHPE	NULC +0.42 points	0.73%	0.31%
Agilent Technologies IncA	NULC +0.41 points	0.71%	0.30%
Walt Disney Co/TheDIS	NULC +0.41 points	0.60%	0.19%
Sysco Corp.SYY	NULC +0.39 points	0.60%	0.21%
Archer-Daniels-Midland CoADM	NULC +0.39 points	0.57%	0.18%
Prologis, Inc.PLD	NULC +0.38 points	0.54%	0.16%
Travelers Companies, Inc.TRV	NULC +0.35 points	0.59%	0.24%
Idexx Laboratories IncIDXX	NULC +0.34 points	0.53%	0.19%
Veeva Systems IncVEEV	NULC +0.33 points	0.69%	0.36%
3M Co.MMM	NULC +0.32 points	0.53%	0.21%
Kroger Co.KR	NULC +0.31 points	0.49%	0.18%
Cboe Global Markets IncCBOE	NULC +0.30 points	0.47%	0.17%
Caterpillar, Inc.CAT	NULC +0.29 points	0.41%	0.12%
Comcast Corp New Class ACMCSA	NULC +0.27 points	0.44%	0.17%
Applied Materials, Inc.AMAT	NULC +0.28 points	0.44%	0.16%
Netapp, Inc.NTAP	NULC +0.28 points	0.59%	0.31%
Axon EnterpriseAXON	NULC +0.28 points	0.48%	0.20%
Twilio IncTWLO	NULC +0.25 points	0.45%	0.20%
Technipfmc PLCFTI	NULC +0.24 points	0.42%	0.18%
AT&T Inc.T	NULC +0.23 points	0.38%	0.15%
Willis Towers Watson PLCWTW	SIZE +0.22 points	0.02%	0.24%
Mongodb IncMDB	NULC +0.22 points	0.42%	0.20%
Live Nation EntertainmentLYV	NULC +0.22 points	0.42%	0.20%
Automatic Data ProcessingADP	NULC +0.20 points	0.44%	0.24%
Ptc IncPTC	SIZE +0.20 points	0.06%	0.26%
Mettler-Toledo Intl IncMTD	NULC +0.20 points	0.50%	0.30%
Vertex PharmaceuticalsVRTX	NULC +0.20 points	0.43%	0.23%
Prudential Financial, IncPRU	SIZE +0.19 points	0.02%	0.21%
Verisign Inc.VRSN	NULC +0.19 points	0.38%	0.19%
Accenture PLCACN	SIZE +0.19 points	0.07%	0.26%
Ppg Industries IncPPG	SIZE +0.18 points	0.04%	0.22%
Zoetis IncZTS	NULC +0.17 points	0.36%	0.19%
Target Corp.TGT	NULC +0.17 points	0.39%	0.22%
Atmos Energy CorpATO	SIZE +0.16 points	0.02%	0.18%
Eversource EnergyES	NULC +0.15 points	0.34%	0.19%
Deere & Co.DE	SIZE +0.14 points	0.07%	0.21%
Autozone, Inc.AZO	SIZE +0.14 points	0.03%	0.17%
West Pharmaceutical ServWST	SIZE +0.14 points	0.12%	0.26%
Ferguson Enterprises IncFERG	NULC +0.14 points	0.34%	0.20%
Cbre Group IncCBRE	SIZE +0.13 points	0.06%	0.19%
Yum! Brands, Inc.YUM	SIZE +0.13 points	0.06%	0.19%
Exelon Corp.EXC	SIZE +0.12 points	0.07%	0.19%
Cigna Group/TheCI	SIZE +0.13 points	0.06%	0.19%
Quanta Services Inc.PWR	NULC +0.12 points	0.28%	0.16%
Colgate-Palmolive CoCL	SIZE +0.12 points	0.07%	0.19%

All 129 NULC holdings⁠All 515 SIZE 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.

NULC vs SIZE Cost

Overpaying NULC vs SIZE

$1,220

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

NULC 0.21%
$4,357
SIZE 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

NULC 0.21%
SIZE 0.15%
Overpaying

Year by year

Year	NULC	SIZE	Overpaying
10	$383	$274	$109
20	$1,491	$1,071	$420
30	$4,357	$3,137	$1,220

Expense ratio

0.21%NULC
0.15%SIZE, cheaper

SIZE0.15%NULC0.21%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

SIZE 5th cheapest of 30 funds

NULC 9th cheapest of 30 funds

NULC vs SIZE Dividends

Last 12 months to Nov 2, 2026

Yield (12M): NULC 8.90%, better; SIZE 1.36%
Payout (12M): NULC $4.87; SIZE $2.47
Last payment: NULC $4.87; SIZE $0.65
Ex-dividend: NULC Dec 18, 2025; SIZE Sep 15, 2026
Paid on: NULC Dec 19, 2025; SIZE Sep 18, 2026
Frequency: NULC Annual; SIZE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

NULCAnnual · 7 paymentsAll NULC payments⁠

SIZEQuarterly · 41 paymentsAll SIZE payments⁠

NULC vs SIZE Risk

Fall from peak · 5 years

NULC
SIZE

Risk facts

VolatilityStd dev, 3 years: NULC 12.8%, betterSIZE 13.0%
Return per unit of riskSharpe ratio, 3 years: NULC 1.27, betterSIZE 1.06
Worst fallMax drawdown, 5 years: NULC −27.9%SIZE −24.0%, better
Market sensitivityBeta, 5 years: NULC 1.00SIZE 0.97; Market = 1

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