Data as of Oct 28, 2026.
NLR vs URA: Holdings Overlap & Returns
Over the year to Oct 28, 2026, NLR returned −35.8% to URA's −30.3%; 53% of their weight is in the same names.
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Net assets: $3.1bn on Oct 26, 2026 for VanEck Uranium and Nuclear ETF, and $5.4bn on Oct 12, 2026 for Global X Uranium ETF.
15% of NLR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Jun 30, 2026.
0% of URA's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jul 31, 2026.
Pair scorecard
NLR costs 0.17 points a year less; their one-year returns differ by 5.5 points; URA is 1.6 times larger.
Points (pts) are percentage points.
| Measure | NLR | URA |
|---|---|---|
| Return | ||
| Total return, 1 year | −35.8% | −30.3% |
| Drawdown | ||
| Below its all-time high | 41.6%, high on Jan 28, 2026 | 58.4%, high on Feb 2, 2011 |
| Against its benchmark | ||
| What it tracks | Nuclear and uranium | Nuclear and uranium |
| Its benchmark, total return, 1 year | +13.4% | +13.4% |
| Against its benchmark, 1 year | behind by 49.2 pts | behind by 43.7 pts |
| Cost and size | ||
| Expense ratio | 0.52% | 0.69% |
| Net assets, as of Oct 12, 2026 | $3.4bn | $5.4bn |
| Holdings | ||
| Holdings in common | 53% | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method
Risk and return
Nov 12, 2010 to Oct 23, 2026 · 832 weekly returns · each against ACWINLR returned more: +118.1% to −51.4%. NLR swung less: 22.3% to 36.8%. NLR fell less at its worst: −45.9% to −93.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | NLR | URA | ACWI | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +118.1% | −51.4% | NLR | Price change plus distributions, reinvested. | |
| Annualized | +5.0% | −4.4% | NLR | Total return as a yearly rate. | |
| Price return | +25.3% | −68.7% | NLR | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 22.3% | 36.8% | NLR | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 15.6% | 25.0% | NLR | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −45.9% | −93.2% | NLR | Deepest fall from a high to the low after it. | |
| Upside capture | 76.5% | 120.6% | 100.0% | URA | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 94.2% | 127.6% | 100.0% | NLR | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.95 | 1.31 | 1.00 | NLR lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.46 | 0.32 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.26 | 0.02 | NLR | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.37 | 0.02 | NLR | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.061 | 0.005 | 0.094 | NLR | Return above Treasury bills per unit of beta. |
| Calmar | 0.11 | −0.05 | NLR | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWI | ACWI | ACWI | The ETF each fund is measured against. | |
| Alpha | −3.2% a year | −11.7% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.77 | −1.54 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −11.3% to +4.9% | −26.6% to +3.2% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.22 | −0.29 | NLR | Return against its benchmark per unit of tracking error. | |
| Tracking error | 16.5% | 30.7% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 832 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, NLR and URA hold 53% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
53% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | NLR | URA | NLR | URA |
| 3 months | −6.5% | −2.6% | −10.9 pts vs ACWI | −7.0 pts vs ACWI |
| 6 months | −30.2% | −30.9% | −37.6 pts vs ACWI | −38.3 pts vs ACWI |
| 1 year | −35.8% | −30.3% | −49.2 pts vs ACWI | −43.7 pts vs ACWI |
| 3 years | +54.0% | +65.5% | −34.9 pts vs ACWI | −23.4 pts vs ACWI |
| Since launchNot the same days: NLR Aug 2007 · URA Nov 2010 | +66.1% | −45.1% | not measured | −417.4 pts vs ACWI |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
53% of the two portfolios are the same securities at the same weight.
NLR and URA are built for the same job. How do they differ in cost, holdings and results?
- One-year total return. Over 1 year to Oct 28, 2026 NLR returned −35.8% and URA −30.3% with distributions reinvested, a gap of 5.5 points.
- Cost. NLR charges 0.52% of assets a year and URA 0.69%, a gap of 0.17 points.
- Concentration (similar). The top ten holdings are 61.1% of NLR and 63.0% of URA, a gap of 1.9 points.
Data as of Oct 28, 2026.
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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.
URA
By weight, 0% of URA'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 63% of the fund across 57 positions, as filed for Jul 31, 2026. Over the year to Oct 28, 2026 the fund returned −30.3% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was behind by 43.7 pts. It sits 58.4% below its all-time high of Feb 2, 2011.
Questions people ask
- Do NLR and URA hold the same stocks?
- By their latest filings, 53% 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.
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ETFIQ, NLR against URA, data as of Oct 28, 2026. https://etfiq.com/compare/themes/nlr-vs-ura
ETFIQ. (Oct 28, 2026). NLR against URA. Retrieved from https://etfiq.com/compare/themes/nlr-vs-ura
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