Do NLR and URAN hold the same stocks?

By their latest filings, 54% 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.

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

NLR has 16% of its weight in S&P 500 names and URAN has 25%, so NLR differs more from the index.

Which is cheaper, NLR or URAN?

NLR charges 0.52% a year and URAN charges 0.35%, so URAN is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

NLR vs URAN: which is really different?

NLR and URAN hold 54% of their weight in the same names. VanEck Uranium and Nuclear ETF and Themes Uranium & Nuclear ETF.

15.8%

NLR in the S&P 500

24.7%

URAN in the S&P 500

−21.8%

NLR total return, 1 year

−22.3%

URAN total return, 1 year

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

URAN · 1 year to Sep 30, 202675% of its weight is outside the S&P 500

25% of URAN's weight is in S&P 500 companies and 75% 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

URAN 69.7

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 URAN hold 54% 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 Jun 30, 2026 and Sep 30, 2026.

50%

half

54% in common

Positions both hold, largest shared weight first

Holding NLR URAN

Constellation Energy Corp 8.17% 9.88%

Public Service Enterprise Group Inc 7.67% 3.81%

Oklo Inc 5.14% 3.45%

Nexgen Energy Ltd 5.57% 3.23%

Cameco Corp 8.16% 3.19%

Denison Mines Corp 4.10% 3.17%

Nuscale Power Corp 3.89% 3.07%

Uranium Energy Corp 4.33% 2.95%

Yellow Cake Plc 3.04% 2.88%

Cgn Power Co Ltd 5.28% 2.78%

Paladin Energy Ltd 4.05% 2.65%

Energy Fuels Inc/Canada 4.03% 2.40%

Only in NLR

Fortum Oyj 7.17%

X-Energy Inc 4.37%

Kepco Engineering & Construction Co Inc 2.94%

Only in URAN

American Electric Power Co Inc 4.20%

Duke Energy Corp 4.04%

CNNP 3.20%

PG&E Corp 2.77%

Lightbridge Corp 2.74%

Bannerman Energy Ltd 2.40%

Mirion Technologies Inc 2.29%

Encore Energy Corp 2.01%

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

54% 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	URAN	NLR	URAN	NLR	URAN
3 months	−9.9%	−8.6%	−12.4 pts	−11.1 pts	−12.1 pts	−10.7 pts
6 months	−23.0%	−21.3%	−40.0 pts	−38.3 pts	−49.9 pts	−48.2 pts
1 year	−21.8%	−22.3%	−37.5 pts	−38.0 pts	−45.6 pts	−46.0 pts
3 years	+57.6%	not published	−27.4 pts	not published	−52.4 pts	not published
Since launch NLR Jan 2010 · URAN Sep 2024	+158.9%	+30.1%	−645.7 pts	−6.4 pts	−1578.6 pts	−23.8 pts

NLR and URAN 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

URAN

Themes Uranium & Nuclear ETF · Holds 42 stocks in nuclear and uranium, 25% of its weight in S&P 500 companies

Issuer VanEck Themes

Theme Nuclear and uranium Nuclear and uranium

In the S&P 500 15.8% 24.7%

Active share vs the S&P 500 99.8% 99.5%

In the Nasdaq-100 8.2% 14.1%

Holdings 25 42

Top ten, share of the fund 62.3% 41.2%

Expense ratio 0.52% 0.35%

Fee for the differing part 0.52% 0.35%

Total return, 1 year −21.8% −22.3%

vs the S&P 500 −37.5 pts −38.0 pts

vs the Nasdaq-100 −45.6 pts −46.0 pts

Below its high −37.1% −36.3%

Net assets $3.5bn $25m

NLR and URAN 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.

URAN in plain words

By weight, 25% of URAN'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 41% of the fund across 42 positions, as filed for Jun 30, 2026. Over the year to Sep 30, 2026 the fund returned −22.3% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 38.0 pts. It sits 36.3% below its all-time high of Jan 28, 2026.

Questions people ask

Do NLR and URAN hold the same stocks?: By their latest filings, 54% 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.
Which is more different from the S&P 500, NLR or URAN?: NLR has 16% of its weight in S&P 500 names and URAN has 25%, so NLR differs more from the index.
Which is cheaper, NLR or URAN?: NLR charges 0.52% a year and URAN charges 0.35%, so URAN is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLR vs COPX NLR vs DRAM NLR vs FDN NLR vs GDX URAN vs URNJ URAN vs URNM URAN vs UX URAN vs NUKZ

NLR on its own →URAN 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 ↗URAN filings on SEC EDGAR ↗URAN prospectus with the expense ratio (SEC) ↗Themes page for URAN ↗

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 URAN, data as of Sep 30, 2026. https://etfiq.com/compare/themes/nlr-vs-uran

Open data

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