NUEM Fees and Costs — Nuveen ESG Emerging Markets Equity ETF
Data updated: 2026-09-25
The net expense ratio is 0.36%: a 0.35% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $70K in broker commissions, 0.0231% of average net assets, and portfolio turnover was 69%.
NUEM Fees and Expenses
Annual operating expenses and sales charges of NUEM. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.36% |
| Fee waiver | — |
| Net expense ratio | 0.36% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
NUEM Costs Over Time
On $10,000 invested in NUEM, assuming 5% a year before costs, total costs come to $243 over 5 years, cutting the return by 0.40% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.36%) | $38 | $119 | $207 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $133 | $243 |
| Value after costs | $10,460 | $11,444 | $12,520 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
NUEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0231%
- Total broker commissions: $70K
- Bought from dealers (principal trades, not a cost): $110.6M
- Portfolio turnover (prospectus): 69%
- Securities on loan, average value: $370K
- Net income from securities lending: $18K (0.006% of average net assets)
NUEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $39K | 55.37% |
| J.P. Morgan Securities LLC | $17K | 24.09% |
| UBS Securities LLC | $5K | 7.83% |
| BofA Securities, Inc. | $5K | 7.12% |
| Goldman Sachs & Co. LLC | $4K | 5.53% |
| BTG Pactual US Capital, LLC | $33 | 0.05% |
| Piper Sandler & Co. | $2 | 0.00% |
| Jefferies LLC | $1 | 0.00% |
NUEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $77.7M | 70.31% |
| BofA Securities, Inc. | $32.8M | 29.69% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.