Data as of .
KWEB vs NLR: which is really different?
NLR holds 15.3% of its weight in S&P 500 companies and KWEB 0.0%.
ETFIQ Off-Index Score: KWEB 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, KWEB and NLR hold 0% of their money in the same securities at the same weight.
| Only in KWEB | Only in NLR |
|---|---|
| TENCENT HOLDINGS LTD 10.25% | Constellation Energy Corp 9.09% |
| ALIBABA GROUP HOLDING LTD 8.61% | Cameco Corp 7.90% |
| PDD HOLDINGS INC 8.11% | Fortum Oyj 6.83% |
| MEITUAN-CLASS B 7.32% | Public Service Enterprise Group Inc 6.22% |
| NETEASE INC 6.25% | Nexgen Energy Ltd 5.30% |
| LENOVO GROUP LTD 5.56% | Bwx Technologies Inc 5.21% |
| KE HOLDINGS INC-CL A 4.41% | Paladin Energy Ltd 5.21% |
| JD.COM INC-CLASS A 3.94% | Uranium Energy Corp 5.07% |
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 and Sep 11, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| KWEB | NLR | KWEB | NLR | KWEB | NLR | |
| 3 months | −7.1% | −7.2% | −10.4 pts | −10.5 pts | −6.3 pts | −6.4 pts |
| 6 months | −18.4% | −17.1% | −34.5 pts | −33.1 pts | −39.1 pts | −37.8 pts |
| 1 year | −36.0% | −6.1% | −53.5 pts | −23.6 pts | −59.0 pts | −29.1 pts |
| 3 years | −1.9% | +83.0% | −79.8 pts | +5.2 pts | −97.0 pts | −12.0 pts |
| Since launch | +20.6% | +183.3% | −438.4 pts | −621.0 pts | −919.7 pts | −1490.6 pts |
| KWEB KraneShares CSI China Internet ETF Holds 45 stocks in internet and e-commerce, 0% 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 | KraneShares | VanEck |
| Theme | Internet and e-commerce | Nuclear and uranium |
| In the S&P 500 | 0.0% | 15.3% |
| Active share vs the S&P 500 | 100.0% | 99.8% |
| In the Nasdaq-100 | 8.1% | 9.1% |
| Holdings | 45 | 25 |
| Top ten, share of the fund | 61.2% | 60.7% |
| Expense ratio | 0.69% | 0.52% |
| Fee for the differing part | 0.69% | 0.52% |
| Total return, 1 year | −36.0% | −6.1% |
| vs the S&P 500 | −53.5 pts | −23.6 pts |
| vs the Nasdaq-100 | −59.0 pts | −29.1 pts |
| Below its high | −71.5% | −31.1% |
KWEB in plain words
By weight, 0% of KWEB'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 45 positions, as published by its issuer for Sep 11, 2026. Over the year to Sep 11, 2026 the fund returned −36.0% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 53.5 pts. It sits 71.5% below its all-time high of Feb 17, 2021.
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, KWEB or NLR?
- KWEB has 0% of its weight in S&P 500 names and NLR has 15%, so KWEB differs more from the index.
- Which is cheaper, KWEB or NLR?
- KWEB charges 0.69% a year and NLR charges 0.52%, so NLR is cheaper. Fees come from each fund's prospectus.
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, KWEB against NLR, data as of Sep 11, 2026. https://etfiq.com/compare/themes/kweb-vs-nlr Free to use with attribution; the underlying files are at Open data.