Data as of .
IDEF vs NLR: which is really different?
IDEF holds 36.1% of its weight in S&P 500 companies and NLR 15.3%.
ETFIQ Off-Index Score: NLR scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 371 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, IDEF and NLR hold 1% of their money in the same securities at the same weight.
| Holding | IDEF | NLR |
|---|---|---|
| BWX TECHNOLOGIES INC | 0.53% | 5.21% |
| CAMECO | 0.40% | 7.90% |
| OKLO CLASS A | 0.20% | 3.91% |
| CENTRUS ENERGY CLASS A | 0.15% | 4.90% |
| Only in IDEF | Only in NLR |
|---|---|
| RTX 6.72% | Constellation Energy Corp 9.09% |
| PALANTIR TECHNOLOGIES CLASS A 4.71% | Fortum Oyj 6.83% |
| LOCKHEED MARTIN CORP 3.62% | Public Service Enterprise Group Inc 6.22% |
| BOEING 3.32% | Nexgen Energy Ltd 5.30% |
| ROLLS-ROYCE HOLDINGS PLC 3.30% | Paladin Energy Ltd 5.21% |
| GENERAL DYNAMICS CORP 2.97% | Uranium Energy Corp 5.07% |
| USD CASH 2.72% | Denison Mines Corp 4.94% |
| THALES SA 2.61% | Nuscale Power Corp 4.76% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 10, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| IDEF | NLR | IDEF | NLR | IDEF | NLR | |
| 3 months | −1.9% | −7.2% | −5.2 pts | −10.5 pts | −1.1 pts | −6.4 pts |
| 6 months | −8.5% | −17.1% | −24.5 pts | −33.1 pts | −29.2 pts | −37.8 pts |
| 1 year | +4.9% | −6.1% | −12.6 pts | −23.6 pts | −18.1 pts | −29.1 pts |
| 3 years | not published | +83.0% | not published | +5.2 pts | not published | −12.0 pts |
| Since launch | +26.5% | +183.3% | −6.4 pts | −621.0 pts | −13.6 pts | −1490.6 pts |
| IDEF iShares Defense Industrials Active ETF Holds 152 stocks in defense, 36% 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 | iShares | VanEck |
| Theme | Defense | Nuclear and uranium |
| In the S&P 500 | 36.1% | 15.3% |
| Active share vs the S&P 500 | 95.9% | 99.8% |
| In the Nasdaq-100 | 8.5% | 9.1% |
| Holdings | 152 | 25 |
| Top ten, share of the fund | 35.2% | 60.7% |
| Expense ratio | not published | 0.52% |
| Fee for the differing part | not published | 0.52% |
| Total return, 1 year | +4.9% | −6.1% |
| vs the S&P 500 | −12.6 pts | −23.6 pts |
| vs the Nasdaq-100 | −18.1 pts | −29.1 pts |
| Below its high | −13.9% | −31.1% |
IDEF in plain words
By weight, 36% of IDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 35% of the fund across 152 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +4.9% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 12.6 pts. It sits 13.9% below its all-time high of Mar 2, 2026.
NLR in plain words
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 published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned −6.1% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 23.6 pts. It sits 31.1% below its all-time high of Jan 28, 2026.
Questions people ask
- Which is more different from the S&P 500, IDEF or NLR?
- IDEF has 36% of its weight in S&P 500 names and NLR has 15%, so NLR differs more from the index.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, IDEF against NLR, data as of Sep 11, 2026. https://etfiq.com/compare/themes/idef-vs-nlr Free to use with attribution; the underlying files are at Open data.