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Data as of Oct 28, 2026.

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Thematic ETFs

AIRR vs NLR: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, AIRR returned −0.2% to NLR's −35.8%; 3% of their weight is in the same names.

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Net assets: $8.4bn on Oct 27, 2026 for First Trust RBA American Industrial Renaissance ETF, and $3.1bn on Oct 26, 2026 for VanEck Uranium and Nuclear ETF.

AIRR on its own →NLR on its own →
At a glance
14.7%
AIRR in the S&P 500
15.1%
NLR in the S&P 500
−0.2%
AIRR total return, 1 year
−35.8%
NLR total return, 1 year
AIRR · 1 year to Oct 28, 2026 85% of its weight is outside the S&P 500
85% of its weight is outside the S&P 50015% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Oct 27, 2026.15%85%in the S&P 500of its weight outside the S&P 500active share 100% · top ten 33% of the fund · 55 holdings as published by its issuer for Oct 27, 202685% of its weight is outside the S&P 50015% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Oct 27, 2026.15%85%inof its weight outside the S&P 500active share 100% · top ten 33% of the fund

15% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Oct 27, 2026.

NLR · 1 year to Oct 28, 2026 85% of its weight is outside the S&P 500
85% of its weight is outside the S&P 50015% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.15%85%in the S&P 500of its weight outside the S&P 500active share 100% · top ten 61% of the fund · 25 holdings as filed for Jun 30, 2026 · Nasdaq-100: 8% in85% of its weight is outside the S&P 50015% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.15%85%inof its weight outside the S&P 500active share 100% · Nasdaq-100: 8% in

15% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

NLR costs 0.17 points a year less; their one-year returns differ by 35.6 points; AIRR is 2.6 times larger.

Points (pts) are percentage points.

AIRR vs NLR: Holdings Overlap & Returns
MeasureAIRRNLR
Return
Total return, 1 year−0.2%−35.8%
Drawdown
Below its all-time high25.5%, high on Jun 22, 202641.6%, high on Jan 28, 2026
Against its benchmark
What it tracksReshoring and manufacturingNuclear and uranium
Against the S&P 500, 1 yearbehind by 13.9 pts
Its benchmark, total return, 1 year+13.7%+13.4%
Against its benchmark, 1 yearbehind by 13.9 ptsbehind by 49.2 pts
Cost and size
Expense ratio0.69%0.52%
Net assets, as of Oct 26, 2026$8.2bn$3.1bn
Holdings
Holdings in common3%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method

What they share

3%

By the books each fund has filed, AIRR and NLR hold 3% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.

0 half 100%

half

3% in common

Positions both hold · largest shared weight first AIRR NLR
BWX Technologies, Inc. 3.33% 6.78%
Only in one fund ↓
Only in AIRR
C.H. Robinson Worldwide, Inc. 3.83%
Karman Holdings Inc. 3.51%
Kratos Defense & Security Solutions, Inc. 3.47%
Herc Holdings, Inc. 3.30%
Owens Corning 3.20%
RBC Bearings Incorporated 3.19%
Dycom Industries, Inc. 3.13%
Huntington Ingalls Industries, Inc. 3.13%
Only in NLR
Cameco Corp 8.41%
Constellation Energy Corp 8.04%
Public Service Enterprise Group Inc 7.09%
Fortum Oyj 5.75%
Oklo Inc 5.22%
Centrus Energy Corp 5.05%
Uranium Energy Corp 4.99%
NexGen Energy Ltd 4.97%
Check overlap with more funds →

Window by window

Window by window: AIRR vs NLR: Holdings Overlap & Returns
Total returnvs its benchmark
WindowAIRRNLRAIRRNLR
3 months−10.0%−6.5%−16.1 pts vs VOO−10.9 pts vs ACWI
6 months−18.4%−30.2%−27.5 pts vs VOO−37.6 pts vs ACWI
1 year−0.2%−35.8%−13.9 pts vs VOO−49.2 pts vs ACWI
3 years+112.5%+54.0%+17.0 pts vs VOO−34.9 pts vs ACWI
Since launchNot the same days: AIRR Mar 2014 · NLR Aug 2007+418.8%+66.1%+4.1 pts vs VOOnot measured

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Side by side

AIRR First Trust RBA American Industrial Renaissance ETF · Holds 55 stocks in reshoring and manufacturing, 15% of its weight in S&P 500 companies NLR VanEck Uranium and Nuclear ETF · Holds 25 stocks in nuclear and uranium, 15% of its weight in S&P 500 companies
Issuer First Trust VanEck
Theme Reshoring and manufacturing Nuclear and uranium
In the S&P 500 14.7% 15.1%
Active share vs the S&P 500 99.8% 99.8%
In the Nasdaq-100 not published 8.0%
Holdings 55 25
Top ten, share of the fund 33.2% 61.1%
Expense ratio 0.69% 0.52%
Fee for the differing part 0.69% 0.52%
Total return, 1 year −0.2% −35.8%
vs its benchmark −13.9 pts vs VOO −49.2 pts vs ACWI
Below its high −25.5% −41.6%
Net assets, AIRR as of Oct 27, 2026 and NLR as of Oct 26, 2026 $8.4bn $3.1bn

As of Oct 28, 2026. Source: ETFIQ.

3% of the two portfolios are the same securities at the same weight.

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About each fund
AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%. The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.

NLR

By weight, 15% of NLR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 61% of the fund across 25 positions, as filed for Jun 30, 2026. Over the year to Oct 28, 2026 the fund returned −35.8% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was behind by 49.2 pts. It sits 41.6% below its all-time high of Jan 28, 2026.

Questions people ask

Do AIRR and NLR hold the same stocks?
By their latest filings, 3% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, AIRR or NLR?
AIRR has 15% of its weight in S&P 500 names and NLR has 15%, so AIRR differs more from the index.
Which is cheaper, AIRR or NLR?
AIRR charges 0.69% a year and NLR charges 0.52%, so NLR is cheaper. Fees come from each fund's prospectus.
Other comparisons
AIRR vs URAAIRR vs BOTZAIRR vs XMEAIRR vs XTNLR vs GDXJNLR vs PPANLR vs COPXNLR vs ARKK
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AIRR on its own →NLR on its own →AIRR dividend history →AIRR holdings →NLR dividend history →NLR holdings →Method →Standards and sources →
Sources and dates
AIRR filings on SEC EDGAR ↗
AIRR prospectus with the expense ratio (SEC) ↗
First Trust page for AIRR ↗
NLR filings on SEC EDGAR ↗
NLR prospectus with the expense ratio (SEC) ↗
VanEck website ↗

Links are sources, not endorsements. 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.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, AIRR against NLR, data as of Oct 28, 2026. https://etfiq.com/compare/themes/airr-vs-nlr

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.