Data as of Oct 28, 2026.
NLR vs SHLD: Holdings Overlap & Returns
Over the year to Oct 28, 2026, NLR returned −35.8% to SHLD's −6.5%; 3% of their weight is in the same names.
askIQ about this page
askIQ about NLR and SHLD
Net assets: $3.1bn on Oct 26, 2026 for VanEck Uranium and Nuclear ETF, and $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.
15% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.
45% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.
Pair scorecard
SHLD costs 0.02 points a year less; their one-year returns differ by 29.3 points; SHLD is 1.9 times larger.
Points (pts) are percentage points.
| Measure | NLR | SHLD |
|---|---|---|
| Return | ||
| Total return, 1 year | −35.8% | −6.5% |
| Drawdown | ||
| Below its all-time high | 41.6%, high on Jan 28, 2026 | 18.6%, high on Mar 9, 2026 |
| Against its benchmark | ||
| What it tracks | Nuclear and uranium | Defense |
| Its benchmark, total return, 1 year | +13.4% | |
| Against its benchmark, 1 year | behind by 49.2 pts | |
| Cost and size | ||
| Expense ratio | 0.52% | 0.50% |
| Net assets, as of Oct 12, 2026 | $3.4bn | $6.3bn |
| Holdings | ||
| Holdings in common | 3% | |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026. Method
Risk and return
Sep 22, 2023 to Oct 23, 2026 · 161 weekly returnsSHLD returned more: +161.2% to +36.7%. SHLD swung less: 24.0% to 33.3%. SHLD fell less at its worst: −25.1% to −40.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | NLR | SHLD | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +36.7% | +161.2% | SHLD | Price change plus distributions, reinvested. |
| Annualized | +10.6% | +36.4% | SHLD | Total return as a yearly rate. |
| Price return | +26.6% | +156.8% | SHLD | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 33.3% | 24.0% | SHLD | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 22.6% | 13.5% | SHLD | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.8% | −25.1% | SHLD | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.33 | 1.23 | SHLD | Return above Treasury bills per unit of volatility. |
| Sortino | 0.49 | 2.17 | SHLD | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.26 | 1.45 | SHLD | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 161 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, NLR and SHLD hold 3% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
3% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | NLR | SHLD | NLR | SHLD |
| 3 months | −6.5% | +2.0% | −10.9 pts vs ACWI | not measured |
| 6 months | −30.2% | −4.7% | −37.6 pts vs ACWI | not measured |
| 1 year | −35.8% | −6.5% | −49.2 pts vs ACWI | not measured |
| 3 years | +54.0% | +156.5% | −34.9 pts vs ACWI | not measured |
| Since launchNot the same days: NLR Aug 2007 · SHLD Sep 2023 | +66.1% | +160.2% | not measured | not measured |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
3% of the two portfolios are the same securities at the same weight.
NLR and SHLD are built for the same job. How do they differ in cost, holdings and results?
- Theme. NLR covers Nuclear and uranium and SHLD covers Defense.
- What each follows. NLR follows Nuclear and uranium and SHLD follows Defense.
- Holdings in common. 3% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
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.
SHLD
By weight, 45% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 59% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −6.5% with distributions reinvested. It sits 18.6% below its all-time high of Mar 9, 2026.
Questions people ask
- Do NLR and SHLD 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.
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.
Cite this pageCitation, APA and Markdown
ETFIQ, NLR against SHLD, data as of Oct 28, 2026. https://etfiq.com/compare/themes/nlr-vs-shld
ETFIQ. (Oct 28, 2026). NLR against SHLD. Retrieved from https://etfiq.com/compare/themes/nlr-vs-shld
[NLR against SHLD (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/nlr-vs-shld)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.