Nuveen has expanded its suite of NuShares exchange traded funds with five new offerings that screen companies of various market capitalization and asset categories for environmental, social and governance principles.
On Wednesday, Nuveen came out with the following ESG-related ETFs:
- NuShares ESG Large-Cap Value ETF (BATS: NULV) seeks to track the investment results, before fees and expenses, of the TIAA ESG USA Large-Cap Growth Index. NULV has a 0.35% expense ratio.
- NuShares ESG Large-Cap Growth ETF (BATS: NULG) seeks to track the investment results, before fees and expenses, of the TIAA ESG USA Large-Cap Growth Index. NULG has a 0.35% expense ratio.
- NuShares ESG Mid-Cap Value ETF (BATS: NUMV) seeks to track the investment results, before fees and expenses, of the TIAA ESG USA Mid-Cap Value Index. NUMV has a 0.40% expense ratio.
- NuShares ESG Mid-Cap Growth ETF (BATS: NUMG) seeks to track the investment results, before fees and expenses, of the TIAA ESG USA Mid-Cap Growth Index. NUG has a 0.40% expense ratio.
- NuShares ESG Small-Cap ETF (BATS: NUSC) seeks to track the investment results, before fees and expenses, of the TIAA ESG USA Small-Cap Index. NUSC has a 0.40% expense ratio.
Nuveen is a part of TIA CREF, and the ESG ETFs draw upon the decades-long responsible investment expertise of TIAA Investments, according to a note.
The underlying indices select components with considerations given to certain ESG criteria established by the sub-advisor, Teachers Advisors LLC, an affiliate of TIAA.
“Environmental assessment categories can include a company’s impact on climate change, natural resource use, and waste management and emission management,” according to a note. “Social evaluation categories can include a company’s relations with employees and suppliers, product safety and sourcing practices. Governance assessment categories can include a company’s corporate governance practices and business ethics.”
Moreover, the ESG criteria will consider how well a company adheres to national and international laws and regulations, along with commonly accepted ESG norms around the world.