{"url":"https://etfiq.com/compare/themes/nlr-vs-smrf","section":"compare","title":"NLR vs SMRF: which is really different? | ETFIQ","description":"15.8% of NLR and 27.8% of SMRF is already in the S&P 500 by weight, as filed, and 56% of the two books are the same names at the same weight.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Do NLR and SMRF hold the same stocks?","acceptedAnswer":{"@type":"Answer","text":"By their latest filings, 56% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share."}},{"@type":"Question","name":"Which is more different from the S&P 500, NLR or SMRF?","acceptedAnswer":{"@type":"Answer","text":"NLR has 16% of its weight in S&P 500 names and SMRF has 28%, so NLR differs more from the index."}},{"@type":"Question","name":"Which is cheaper, NLR or SMRF?","acceptedAnswer":{"@type":"Answer","text":"NLR charges 0.52% a year and SMRF charges 0.65%, so NLR is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Thematic ETFs","item":"https://etfiq.com/themes/"},{"@type":"ListItem","position":3,"name":"NLR vs SMRF","item":"https://etfiq.com/compare/themes/nlr-vs-smrf"}]},{"@type":"WebPage","name":"NLR vs SMRF: which is really different?","description":"15.8% of NLR and 27.8% of SMRF is already in the S&P 500 by weight, as filed, and 56% of the two books are the same names at the same weight. Returns and overlap to Sep 30, 2026.","url":"https://etfiq.com/compare/themes/nlr-vs-smrf","dateModified":"2026-09-30","abstract":"NLR and SMRF hold 56% of their weight in the same names.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of NLR and SMRF","description":"15.8% of NLR and 27.8% of SMRF is already in the S&P 500 by weight, as filed, and 56% of the two books are the same names at the same weight. Returns and overlap to Sep 30, 2026.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/themes/nlr-vs-smrf","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/thematic.json"}],"variableMeasured":["Weight overlap with the S&P 500","Active share","Holdings","Top ten share of the fund","Total return","Fee for the differing part","Expense ratio"],"keywords":["exchange-traded funds","ETF","Thematic ETFs","fund data","SEC filings"]}],"characters":6913,"truncated":true,"content":"ETFIQ / Thematic ETFs / Head to head / NLR vs SMRF \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n NLR vs SMRF: which is really different?\n\n NLR and SMRF hold 56% of their weight in the same names.\n Copy this for sharing \n \n VanEck Uranium and Nuclear ETF and ALPS Nautilus SMR, Nuclear & Technology ETF.\n\n Download as PDF \n\n 15.8% NLR in the S&P 500 \n 27.8% SMRF in the S&P 500 \n \u221221.8% NLR total return, 1 year \n \u221211.7% SMRF total return, since launch \n\n ETFIQ Off-Index Score: NLR scores higher\n How much of it is not the index it is sold as an alternative to?\n [NLR scores","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/themes/nlr-vs-smrf","a":{"ticker":"NLR","name":"VanEck Uranium and Nuclear ETF","issuer":"VanEck","desk":"themes","as_of":"2026-09-30","verdict":"NLR holds 25 stocks, and 84% of its weight is outside the S&P 500.","url":"https://etfiq.com/funds/nlr","key_facts":[{"label":"Already in the S&P 500","value":"15.8%","as_of":"2026-09-30","source":null},{"label":"Active share vs the S&P 500","value":"99.8%","as_of":"2026-09-30","source":null},{"label":"Top ten holdings","value":"62.3%","as_of":"2026-09-30","source":null},{"label":"Total return, 1 year","value":"\u221221.8%","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$3.5bn","as_of":"2026-09-30","source":"the issuer\u2019s daily holdings, added up, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.52%","as_of":"2026-09-30","source":"485BPOS XBRL, Apr 29, 2026"}]},"b":{"ticker":"SMRF","name":"ALPS Nautilus SMR, Nuclear & Technology ETF","issuer":"ALPS","desk":"themes","as_of":"2026-09-30","verdict":"SMRF holds 72 stocks, and 72% of its weight is outside the S&P 500.","url":"https://etfiq.com/funds/smrf","key_facts":[{"label":"Already in the S&P 500","value":"27.8%","as_of":"2026-09-30","source":null},{"label":"Active share vs the S&P 500","value":"92.5%","as_of":"2026-09-30","source":null},{"label":"Top ten holdings","value":"40.2%","as_of":"2026-09-30","source":null},{"label":"Total return, since launch","value":"\u221211.7%","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$11m","as_of":"2026-09-30","source":"SEC filing, whole fund, as filed for May 31, 2026"},{"label":"Expense ratio","value":"0.65%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 18, 2026"}]},"overlap_pct":56,"full_text_at":"https://etfiq.com/compare/themes/nlr-vs-smrf"}