NULG vs PWB: Differences, Returns & Fees
NULG and PWB hold 35% of their weight in the same names, and PWB returned +20.2% over the year. Net assets: $2.7bn on Jul 31, 2026 for Nuveen ESG Large-Cap Growth ETF, and $2.6bn on Oct 20, 2026 for Invesco Large Cap Growth ETF.
NULG costs 0.29 points a year less; their one-year returns differ by 8.7 points; NULG is 1.2 times larger.
| NULG | PWB | |
|---|---|---|
| Expense ratio | 0.26% | 0.55% |
| Net assets, as of Jul 31, 2026 | $2.7bn | $2.3bn |
| Total return, 1 year | +11.5% | +20.2% |
| What it tracks | Nuveen ESG USA Large-Cap Growth Index | Dynamic Large Cap Growth Intellidex Index |
| Holdings in common | 35% | |
| Top ten holdings, share of the fund | 44.0% | 36.0% |
| Below its high | 6.1%, high on Aug 13, 2026 | 8.9%, high on Jun 22, 2026 |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 19, 2026.
NULG and PWB are built for the same job. How do they differ in cost, holdings and results?
- What each follows. NULG follows Nuveen ESG USA Large-Cap Growth Index and PWB follows Dynamic Large Cap Growth Intellidex Index.
- Holdings in common. 35% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 19, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 NULG returned +11.5% and PWB +20.2% with distributions reinvested, a gap of 8.7 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, NULG and PWB hold 35% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 19, 2026.
half
35% in common
On the same fields
NULG and PWB on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About NULG
NULG tracks an index. Over the year to Oct 20, 2026 it returned +11.5% with distributions reinvested, against +15.5% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.26% a year. By its holdings filed for Jul 31, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 69 positions, with the top ten at 44.0%. It sat 6.1% below its high of Aug 13, 2026 on Oct 20, 2026.
About PWB
PWB tracks an index. The prospectus expense ratio is 0.55% a year. By its holdings published by its issuer for Oct 19, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 52 positions, with the top ten at 36.0%. It sat 8.9% below its high of Jun 22, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +20.2% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
Questions people ask
- Which returned more over the last year, NULG or PWB?
- In the year to Oct 20, 2026, with distributions reinvested, NULG returned +11.5% and PWB +20.2%.
- Which is cheaper, NULG or PWB?
- NULG is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, NULG against PWB, data as of Oct 20, 2026. https://etfiq.com/compare/any/nulg-vs-pwb
ETFIQ. (Oct 20, 2026). NULG against PWB. Retrieved from https://etfiq.com/compare/any/nulg-vs-pwb
[NULG against PWB (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/nulg-vs-pwb)
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