NUMV vs USCL: Grades, Fees and Holdings Compared

Nuveen ESG Mid-Cap Value

NUMVCCboe

iShares Climate Conscious & Transition MSCI USA ETF

USCLANasdaq

Overlap

3.3%by weight

Expense ratio

USCL −0.23pt a year

NUMV0.31%USCL0.08%

Avg volume · 30D

NUMV 1.9×the volume

NUMV25.6KUSCL13.1K

3Y return · a year

NUMV +0.6pt

NUMV+20.5%USCL+19.9%

NUMV vs USCL Performance

Nov 7, 2025 – Nov 9, 2026

+19.8%NUMV+9.6%USCL

Expense ratio: NUMV 0.31%; USCL 0.08%, better
Fund size: NUMV $426M; USCL $2.61B
1Y total return: NUMV +19.8%, better; USCL +9.6%
Yield (12M): NUMV 1.31%, better; USCL 1.06%
Holdings: NUMV 88; USCL 393
Avg volume (30D): NUMV 25.6K sh, better; USCL 13.1K sh
NAV per share: NUMV $44.80; USCL $83.10
52W range

ETF.net Grade

Pillar letters and Scores for NUMV, USCL, with each pillar’s weight
Pillar	NUMV	USCL
Cost30% weight	D33	A99Higher
Mission25% weight	A71	Not scored
Risk15% weight	B67Higher	B55
Tradability15% weight	C45	B69Higher
Holdings10% weight	A71Higher	D34
Durability5% weight	B67	A71Higher

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. NUMV and USCL 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 ›

USCL ranks 7th and NUMV 31st of 47 funds in the US ESG & Values Index Category.

Rank 7AEVUSiShares ESG Aware MSCI USA Value ETFScore 73
Rank 7AUSCLiShares Climate Conscious & Transition MSCI USA ETFScore 73
Rank 11AFEUSNorthern Trust ESG & Climate US Large Cap Core ETFScore 72
Rank 29BNUSCNuveen ESG Small-Cap ETFScore 55
Rank 31CNUMVNuveen ESG Mid-Cap ValueScore 54
Rank 32CETHOAmplify Etho Climate Leadership U.S. ETFScore 52

Our read on each fund

ETF.net Research

NUMVCNuveen ESG Mid-Cap Value

USCLAiShares Climate Conscious & Transition MSCI USA ETF

In short

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.

USCL Most ESG index funds work by exclusion. USCL scores roughly 400 US large and mid caps on where they're heading instead: emissions intensity, reduction targets, green revenue. And it charges 0.08% a year to do it.

Stated mandate

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.

USCL The Fund seeks to track an index of U.S. large- and mid-capitalization companies selected for their relative positioning on the transition to a low-carbon economy, using climate-related measures such as emissions intensity, reduction targets, green-business revenue, and climate-risk management.

Why people hold it

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

USCL At 0.08% a year, it matches the cheapest fund in its ESG cohort (XVV) and undercuts ESGV, SNPE, EFIV and ESGU.ishares.com
The index doesn't just screen out offenders. It selects on transition evidence: emissions intensity, reduction targets, green-business revenue, climate-risk management.ishares.com
About 400 US large and mid caps, so it reads as core equity exposure with a climate tilt, not a narrow clean-energy sector bet.
A multi-billion-dollar iShares fund that sticks tightly to the MSCI USA Extended Climate Action Index, one of the cleaner implementations in its peer group.

Worth knowing

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.

USCL Trading is thin for a fund this size, so spreads can widen. Limit orders are the standard tool here.
Climate scoring reshapes the sector and name mix, so results can diverge from a plain US large-cap index in either direction.
Launched in 2023, so its history is short next to the older ESG funds it competes with.

Full NUMV profile⁠

Full USCL profile⁠

NUMV vs USCL Holdings

How NUMV and USCL differ

Overlap by weight

3.3%

Shared holdings make up 78.1% of NUMV and 3.4% of USCL.

Level by level

Holdings69 in both3.3%
Sector11 Sectors65.7%
Countryby domicile98.8%
Asset classStocks100%

Sector

Sector weights in NUMV and USCL, widest gap first
Sector	Gap	NUMV	USCL
Technology	USCL +24.5 points	14.5%	39.0%
Financials	NUMV +8.3 points	18.6%	10.3%
Industrials	NUMV +7.1 points	14.0%	6.9%
Real Estate	NUMV +6.4 points	8.2%	1.8%
Communication	USCL +5.7 points	4.6%	10.3%
Utilities	NUMV +5.7 points	7.4%	1.7%
Consumer Staples	NUMV +5.3 points	9.9%	4.6%
Consumer Discretionary	USCL +2.6 points	7.6%	10.2%
Materials	NUMV +1.7 points	3.4%	1.7%
Health Care	USCL +1.3 points	10.1%	11.4%
Energy	USCL +0.2 points	1.8%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in NUMV and USCL, widest gap first
Country	Gap	NUMV	USCL
Ireland	NUMV +0.9 points	0.9%	0.0%
United States	USCL +0.6 points	98.7%	99.3%
Other countries (6)	USCL +0.2 points	0.4%	0.6%

Concentration

Weight in the 10 largest Holdings

NUMV21.2%
USCL45.0%

Securities held

NUMV87
USCL390

Asset class

NUMV: Stocks
USCL: Stocks

Holdings

Only in NUMV18
In both69
Only in USCL321

Only in NUMV

18 securities, 21.8% of NUMV by weight

Crown Castle Inc2.15%
Veralto Corp1.99%
Roblox Corp1.79%
Atmos Energy Corp1.79%
Steris PLC1.78%
Centerpoint Energy Inc1.74%
Synchrony Financial1.61%
Pulte Group, Inc.1.34%
Genuine Parts Co1.24%
Bunge Global SA1.16%
Jacobs Solutions Inc1.10%
Raymond James Financial1.08%
D.r. Horton Inc.0.98%
Echostar Corp0.83%
Sunbelt Rentals Holdings0.69%
Ast Spacemobile Inc0.35%
Coeur Mining Inc0.13%
Ares Management Corp0.01%

Only in USCL

321 securities, 96.5% of USCL by weight

Apple9.68%
NVIDIA8.26%
Microsoft7.21%
Amazon.com Inc4.83%
Alphabet Class A3.22%
Meta Platforms Class A2.58%
Broadcom Inc2.56%
Alphabet Class C2.56%
Eli Lilly2.09%
Tesla Inc1.97%
Advanced Micro Devices1.41%
Visa Class A1.35%
JPMorgan Chase & Co1.28%
Johnson & Johnson1.28%
Walmart1.06%
Mastercard Class A1.02%
AbbVie0.99%
Procter & Gamble0.74%
Coca-Cola0.71%
Cisco Systems Inc0.71%
Merck & Co Inc0.70%
UnitedHealth Group0.69%
Palantir Technologies Class A0.67%
Exxonmobil Holdings Corp0.66%
Home Depot0.66%
Netflix0.51%
Thermo Fisher Scientific0.50%
Palo Alto Networks0.49%
Ge Aerospace0.48%
Amgen Inc0.48%
Bank of America0.46%
Linde PLC0.46%
Costco Wholesale Corp0.45%
Gilead Sciences0.40%
Applied Material Inc0.38%
Mcdonalds Corp0.38%
Chevron0.38%
Micron Technology0.38%
Caterpillar Inc0.37%
Pepsico0.37%
Goldman Sachs Group0.37%
Verizon Communications Inc0.37%
Lam Research0.36%
Arista Networks0.35%
Nextera Energy0.35%
Kla0.35%
Analog Devices0.34%
Qualcomm0.34%
BlackRock0.33%
Welltower0.33%

Weight gaps

All 69 Holdings in both funds, largest gap first.

Holding weights in NUMV and USCL, widest gap first
Holding	Gap	NUMV	USCL
Cardinal Health, Inc.CAH	NUMV +2.50 points	2.59%	0.09%
United Rentals Inc.URI	NUMV +2.23 points	2.36%	0.13%
Consolidated Edison, Inc.ED	NUMV +2.08 points	2.16%	0.08%
Vivmark ResidentialVMRK	NUMV +2.03 points	2.11%	0.08%
Ptc IncPTC	NUMV +1.97 points	2.01%	0.04%
Prudential Financial, IncPRU	NUMV +1.92 points	1.96%	0.04%
State Street Corp.STT	NUMV +1.89 points	1.93%	0.04%
Agilent Technologies IncA	NUMV +1.85 points	1.95%	0.10%
Ppg Industries IncPPG	NUMV +1.79 points	1.84%	0.05%
Sysco Corp.SYY	NUMV +1.78 points	1.83%	0.05%
Ferguson Enterprises IncFERG	NUMV +1.73 points	1.75%	0.02%
Church & Dwight CoCHD	NUMV +1.72 points	1.77%	0.05%
Cboe Global Markets IncCBOE	NUMV +1.71 points	1.78%	0.07%
Fortive CorporationFTV	NUMV +1.69 points	1.73%	0.04%
Archer-Daniels-Midland CoADM	NUMV +1.67 points	1.69%	0.02%
Eversource EnergyES	NUMV +1.64 points	1.69%	0.05%
Omnicom Group, Inc.OMC	NUMV +1.62 points	1.66%	0.04%
Hewlett-Packard EnterprisHPE	NUMV +1.60 points	1.69%	0.09%
Regions Financial Corp.RF	NUMV +1.59 points	1.60%	0.01%
Willis Towers Watson PLCWTW	NUMV +1.57 points	1.63%	0.06%
T. Rowe Price Group, Inc.TROW	NUMV +1.56 points	1.58%	0.02%
Kraft Heinz Co/TheKHC	NUMV +1.52 points	1.55%	0.03%
Baker Hughes CoBKR	NUMV +1.50 points	1.59%	0.09%
Regency Centers CorpREG	NUMV +1.44 points	1.46%	0.02%
Xylem Inc.XYL	NUMV +1.43 points	1.47%	0.04%
Humana IncorporatedHUM	NUMV +1.33 points	1.40%	0.07%
Steel Dynamics IncSTLD	NUMV +1.31 points	1.35%	0.04%
First Solar, Inc.FSLR	NUMV +1.30 points	1.33%	0.03%
Arch Capital Group LtdACGL	NUMV +1.29 points	1.33%	0.05%
Keysight Technologies IncKEYS	NUMV +1.27 points	1.36%	0.09%
Ball CorporationBALL	NUMV +1.25 points	1.28%	0.03%
Iron Mountain IncIRM	NUMV +1.24 points	1.30%	0.06%
Fifth Third BancorpFITB	NUMV +1.22 points	1.24%	0.02%
Paychex, Inc.PAYX	NUMV +1.20 points	1.27%	0.07%
Hartford Insurance GroupHIG	NUMV +1.12 points	1.17%	0.05%
Hp IncHPQ	NUMV +1.04 points	1.08%	0.04%
Ingersoll Rand IncIR	NUMV +1.01 points	1.07%	0.06%
Tractor Supply Co.TSCO	NUMV +0.99 points	1.02%	0.03%
Expeditors Intl Wash IncEXPD	NUMV +0.97 points	1.02%	0.05%
Zoetis IncZTS	NUMV +0.94 points	1.00%	0.06%
Cbre Group IncCBRE	NUMV +0.93 points	0.99%	0.06%
Smurfit Westrock PLCSW	NUMV +0.86 points	0.89%	0.03%
Waters Corp.WAT	NUMV +0.85 points	0.94%	0.09%
Dollar Tree IncDLTR	NUMV +0.83 points	0.86%	0.03%
Broadridge Financial SoluBR	NUMV +0.83 points	0.87%	0.04%
Gen Digital IncGEN	NUMV +0.82 points	0.85%	0.03%
Iqvia Holdings IncIQV	NUMV +0.74 points	0.83%	0.09%
Wr Berkley CorpWRB	NUMV +0.71 points	0.73%	0.02%
General Mills IncGIS	NUMV +0.67 points	0.71%	0.04%
Twilio IncTWLO	NUMV +0.65 points	0.71%	0.06%
Citizens Financial GroupCFG	NUMV +0.60 points	0.61%	0.01%
Lennox International IncLII	NUMV +0.55 points	0.57%	0.02%
News Corp - ANWSA	NUMV +0.54 points	0.55%	0.01%
Hunt (Jb) Transport ServJBHT	NUMV +0.53 points	0.54%	<0.01%
Nasdaq IncNDAQ	NUMV +0.44 points	0.53%	0.09%
International PaperIP	NUMV +0.40 points	0.42%	0.02%
Hubbell IncHUBB	NUMV +0.40 points	0.44%	0.04%
Idex CorpIEX	NUMV +0.37 points	0.40%	0.03%
Amcor PLCAMCR	NUMV +0.33 points	0.37%	0.04%
Ch Robinson Worldwide IncCHRW	NUMV +0.29 points	0.31%	0.02%
Okta IncOKTA	NUMV +0.23 points	0.28%	0.05%
F5 IncFFIV	NUMV +0.22 points	0.25%	0.03%
Tapestry IncTPR	NUMV +0.21 points	0.26%	0.05%
Sba Communications CorpSBAC	NUMV +0.17 points	0.21%	0.04%
Netapp, Inc.NTAP	NUMV +0.17 points	0.22%	0.05%
Workday Inc - AWDAY	USCL +0.03 points	0.04%	0.07%
Mettler-Toledo Intl IncMTD	USCL +0.03 points	0.04%	0.07%
Grainger W.w. Inc.GWW	USCL +0.01 points	0.05%	0.06%
Best Buy Co., Inc.BBY	USCL +0.01 points	0.02%	0.03%

All 88 NUMV holdings⁠All 390 USCL 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.

NUMV vs USCL Cost

Overpaying NUMV vs USCL

$4,657

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

NUMV 0.31%
$6,346
USCL 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

NUMV 0.31%
USCL 0.08%
Overpaying

Year by year

Year	NUMV	USCL	Overpaying
10	$563	$147	$416
20	$2,182	$575	$1,607
30	$6,346	$1,689	$4,657

Expense ratio

0.31%NUMV
0.08%USCL, cheaper

USCL0.08%NUMV0.31%

0.08%0.95%

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

USCL cheapest of 47 funds

NUMV 30th cheapest of 47 funds

NUMV vs USCL Dividends

Last 12 months to Nov 9, 2026

Yield (12M): NUMV 1.31%, better; USCL 1.06%
Payout (12M): NUMV $0.60; USCL $0.91
Last payment: NUMV $0.60; USCL $0.20
Ex-dividend: NUMV Dec 18, 2025; USCL Sep 15, 2026
Paid on: NUMV Dec 19, 2025; USCL Sep 18, 2026
Frequency: NUMV Annual; USCL Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

NUMVAnnual · 9 paymentsAll NUMV payments⁠

USCLQuarterly · 13 paymentsAll USCL payments⁠

NUMV vs USCL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: NUMV 14.7%USCL 12.5%, better
Return per unit of riskSharpe ratio, 3 years: NUMV 1.07USCL 1.28, better
Worst fallMax drawdown, 5 years: NUMV −25.6%USCL −19.0%since Jun 2023
Market sensitivityBeta, 5 years: NUMV 0.96USCL 1.01; Market = 1

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