Do NLR and TNUK hold the same stocks?

By their latest filings, 45% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, NLR or TNUK?

NLR has 16% of its weight in S&P 500 names and TNUK has 18%, so NLR differs more from the index.

Which is cheaper, NLR or TNUK?

NLR charges 0.52% a year and TNUK charges 0.85%, so NLR is cheaper. Fees come from each fund's prospectus.

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NLR vs TNUK: which is really different?

NLR and TNUK hold 45% of their weight in the same names. VanEck Uranium and Nuclear ETF and Tortoise Nuclear Renaissance ETF.

15.8%

NLR in the S&P 500

17.5%

TNUK in the S&P 500

−21.8%

NLR total return, 1 year

−11.8%

TNUK total return, since launch

NLR · 1 year to Sep 30, 202684% of its weight is outside the S&P 500

16% of NLR's weight is in S&P 500 companies and 84% is outside the index

TNUK · 6 months to Sep 30, 202683% of its weight is outside the S&P 500

18% of TNUK's weight is in S&P 500 companies and 83% is outside the index

ETFIQ Off-Index Score · NLR scores higherHow much of it is not the index it is sold as an alternative to?

NLR 78.3

TNUK 66.3

0.1, the lowest in this set92.0, the highest

A percentile among the 375 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, NLR and TNUK hold 45% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Sep 30, 2026.

50%

half

45% in common

Positions both hold, largest shared weight first

Holding NLR TNUK

Cameco Corp 8.16% 7.48%

Bwx Technologies Inc 6.20% 6.66%

Public Service Enterprise Group Inc 7.67% 4.75%

Constellation Energy Corp 8.17% 4.51%

Fortum Oyj 7.17% 4.50%

Uranium Energy Corp 4.33% 4.97%

Centrus Energy Corp 3.81% 4.23%

Nac Kazatomprom Jsc 4.56% 2.31%

Oklo Inc 5.14% 1.77%

Nuscale Power Corp 3.89% 1.73%

Nexgen Energy Ltd 5.57% 1.29%

Denison Mines Corp 4.10% 1.09%

Only in NLR

Cgn Power Co Ltd 5.28%

X-Energy Inc 4.37%

Paladin Energy Ltd 4.05%

Yellow Cake Plc 3.04%

Kepco Engineering & Construction Co Inc 2.94%

Cgn Mining Co Ltd 1.68%

Nano Nuclear Energy Inc 1.36%

Silex Systems Ltd 1.27%

Only in TNUK

Curtiss-Wright Corp 8.15%

Doosan Enerbility Co Ltd 6.94%

Talen Energy Corp 6.90%

Mirion Technologies Inc 6.22%

Rolls-Royce Holdings PLC 5.06%

Vistra Corp 4.70%

Amentum Holdings Inc 4.16%

AtkinsRealis Group Inc 4.11%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

45% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	NLR	TNUK	NLR	TNUK	NLR	TNUK
3 months	−9.9%	−10.1%	−12.4 pts	−12.6 pts	−12.1 pts	−12.2 pts
6 months	−23.0%	−15.3%	−40.0 pts	−32.3 pts	−49.9 pts	−42.2 pts
1 year	−21.8%	not published	−37.5 pts	not published	−45.6 pts	not published
3 years	+57.6%	not published	−27.4 pts	not published	−52.4 pts	not published
Since launch NLR Jan 2010 · TNUK Dec 2025	+158.9%	−11.8%	−645.7 pts	−25.7 pts	−1578.6 pts	−33.8 pts

NLR and TNUK over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NLR

VanEck Uranium and Nuclear ETF · Holds 25 stocks in nuclear and uranium, 16% of its weight in S&P 500 companies

TNUK

Tortoise Nuclear Renaissance ETF · Holds 25 stocks in nuclear and uranium, 18% of its weight in S&P 500 companies

Issuer VanEck Tortoise

Theme Nuclear and uranium Nuclear and uranium

In the S&P 500 15.8% 17.5%

Active share vs the S&P 500 99.8% 99.2%

In the Nasdaq-100 8.2% 4.5%

Holdings 25 25

Top ten, share of the fund 62.3% 61.8%

Expense ratio 0.52% 0.85%

Fee for the differing part 0.52% 0.86%

Total return, 1 year −21.8% −11.8% (since launch on Dec 18, 2025)

vs the S&P 500 −37.5 pts −25.7 pts

vs the Nasdaq-100 −45.6 pts −33.8 pts

Below its high −37.1% −26.4%

Net assets $3.5bn $2m

NLR and TNUK on the same fields, as of Sep 30, 2026. Source: ETFIQ.

NLR in plain words

By weight, 16% 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 62% of the fund across 25 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −21.8% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 37.5 pts. It sits 37.1% below its all-time high of Jan 28, 2026.

TNUK in plain words

By weight, 18% of TNUK'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 62% of the fund across 25 positions, as filed for May 31, 2026. Since it launched on Dec 18, 2025 the fund returned −11.8% with distributions reinvested against +13.9% for the S&P 500, so a holder was behind by 25.7 pts. It sits 26.4% below its all-time high of Jan 28, 2026.

Questions people ask

Do NLR and TNUK hold the same stocks?: By their latest filings, 45% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, NLR or TNUK?: NLR has 16% of its weight in S&P 500 names and TNUK has 18%, so NLR differs more from the index.
Which is cheaper, NLR or TNUK?: NLR charges 0.52% a year and TNUK charges 0.85%, so NLR is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLR vs SOXX NLR vs URA NLR vs URAN NLR vs URNJ TNUK vs URAN TNUK vs URNJ TNUK vs URNM TNUK vs UX

NLR on its own →TNUK on its own →How every figure is computed →Standards and sources →

Where these figures came from

NLR filings on SEC EDGAR ↗NLR prospectus with the expense ratio (SEC) ↗VanEck website ↗TNUK filings on SEC EDGAR ↗Tortoise website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, NLR against TNUK, data as of Sep 30, 2026. https://etfiq.com/compare/themes/nlr-vs-tnuk

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.