INRO vs NULC
iShares US Industry Rotation Active ETF vs Nuveen ESG Large-Cap ETF
Which is better, INRO or NULC?
Nearly the same fund. NULC costs less.
NULC has a lower expense ratio. INRO led over the full window, NULC over 1Y. The two have moved almost in lockstep, correlation 0.96. NULC is less concentrated, with 34.3% of the fund in its ten largest positions against 38.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | INRO | NULC |
|---|---|---|
| Expense Ratio | 0.42% | 0.21%Best |
| AUM | $525M | $76M |
| Dividend Yield | 0.59% | 0.88% |
| Holdings | 296 | 138 |
| YTD Return | +14.92% | +16.55%Best |
| 1Y Return | +18.38% | +19.21%Best |
| 3Y Return (annualized) | - | +20.99% |
| 5Y Return (annualized) | - | +10.62% |
| Volatility (annualized) | 12.9% | 12.4%Best |
| Max Drawdown | -20.0% | -18.5%Best |
| $10,000 over 2.5 years | $14,807Best | $14,443 |
| Top 10 Weight | 38.5% | 34.3%Best |
| Fund Family | BlackRock, Inc. (US) | Nuveen |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 26, 2024 | Jun 3, 2019 |
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Mar 28, 2024 to Oct 14, 2026 (2.5 years).
INRO vs NULC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.5 years both funds cover.
INRO vs NULC Performance
iShares US Industry Rotation Active ETF (INRO) is an ETF from BlackRock, Inc. (US) and Nuveen ESG Large-Cap ETF (NULC) is an ETF from Nuveen. Over the past year INRO returned +18.38% while NULC returned +19.21%. Year to date, INRO is up 14.92% versus a gain of 16.55% for NULC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
INRO has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 12.4% for NULC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.0% for INRO and -18.5% for NULC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
INRO charges 0.42% per year while NULC charges 0.21%. On a $10,000 position that is $42 vs $21 annually, a gap of $21 per year that compounds over a long holding period. On income, INRO currently yields 0.59% against 0.88% for NULC.
Holdings Overlap
40.2% of INRO's money is in holdings NULC also owns. 78.3% of NULC's money is in holdings INRO also owns.
Most of NULC is already inside INRO. Owning both mostly buys the same companies twice.
72 positions in common, counted across the 304 positions we hold weights for in INRO and 128 in NULC, against full books of 296 and 138.
What only one of them owns
Our book lists 54 positions for NULC that do not appear in our book for INRO (21.3% of the fund), and 210 for INRO that do not appear in NULC (58.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in INRO | Weight in NULC | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.15% | 9.39% | 1.24% |
| MSFTMicrosoft Corp | 5.71% | 5.43% | 0.28% |
| METAMeta Platforms Inc | 2.28% | 4.05% | 1.77% |
| AVGOBroadcom Inc | 2.06% | 3.40% | 1.34% |
| AMDAdvanced Micro Devices Inc | 1.62% | 3.24% | 1.62% |
| MAMastercard Inc | 1.12% | 1.72% | 0.60% |
| LRCXLrcx Uw Equity | 1.12% | 1.70% | 0.58% |
| VVisa Inc Class A | 0.87% | 1.86% | 0.99% |
| PGProcter & Gamble Company | 0.88% | 1.52% | 0.64% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.62% | 1.78% | 1.16% |
78.3% of NULC is already inside INRO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, INRO or NULC?
INRO has an expense ratio of 0.42% while NULC charges 0.21%. NULC is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, INRO or NULC?
Over the past year INRO returned +18.38% vs +19.21% for NULC, so NULC leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INRO or NULC?
INRO has been the more volatile fund at 12.9% annualized versus 12.4% for NULC. Worst drawdown: INRO -20.0% vs NULC -18.5%.
Should I hold both INRO and NULC?
INRO and NULC have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between INRO and NULC?
78.3% of NULC's money is in holdings INRO also owns. 78.3% of NULC's is in holdings INRO also owns. They hold 72 positions in common, counted across the 304 positions we hold weights for in INRO and 128 in NULC.
Which pays a higher dividend, INRO or NULC?
INRO yields 0.59% while NULC yields 0.88%, so NULC currently pays the higher dividend yield.
Is NULC better than INRO?
NULC has a lower expense ratio. INRO led over the full window, NULC over 1Y. The two have moved almost in lockstep, correlation 0.96. NULC is less concentrated, with 34.3% of the fund in its ten largest positions against 38.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.