ACES vs. NLR

Last updated Aug 2, 2026

ACES (ALPS Clean Energy ETF) and NLR (VanEck Uranium and Nuclear ETF) are both exchange-traded funds - ACES is a Alternative Energy Equities fund tracking the CIBC Atlas Clean Energy Index, while NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index. Both are passively managed. Over the past 5 years, ACES returned -15.09%/yr vs 18.29%/yr for NLR. Their 0.50 correlation means their historical movements had little consistent relationship. ACES charges 0.55%/yr vs 0.56%/yr for NLR.

Performance

ACES vs. NLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Clean Energy ETF (ACES) and VanEck Uranium and Nuclear ETF (NLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACES achieves a -5.87% return, which is significantly higher than NLR's -13.99% return.

ACES

• 1D: -0.85%
• 1M: -10.67%
• 6M: -13.85%
• YTD: -5.87%
• 1Y: 15.47%
• 3Y*: -12.93%
• 5Y*: -15.09%
• 10Y*: —
• ALL TIME*: 3.41%

NLR

• 1D: -1.41%
• 1M: -7.05%
• 6M: -28.16%
• YTD: -13.99%
• 1Y: -2.28%
• 3Y*: 23.67%
• 5Y*: 18.29%
• 10Y*: 11.00%
• ALL TIME*: 3.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACES ALPS Clean Energy ETF	$2.69M	$3.07M	$3.04M
NLR VanEck Uranium and Nuclear ETF	$43.05M	$48.38M	$60.74M

ACES vs. NLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ACES ALPS Clean Energy ETF	-5.87%	25.44%	-26.71%	-20.04%	-28.44%	-19.44%	140.33%	51.70%	-9.81%
NLR VanEck Uranium and Nuclear ETF	-13.99%	56.50%	14.26%	36.67%	2.29%	13.63%	3.49%	0.20%	1.27%

Correlation

The correlation between ACES and NLR is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.51
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018	0.50

The correlation between ACES and NLR shifts across timeframes, from 0.49 (3 years) to 0.64 (1 year), reflecting how their relationship changes across market environments.

ACES vs. NLR - Sectors Allocation Comparison

Sectors	ACES	NLR
Utilities	27.4%	36.0%
Technology	25.5%	1.6%
Industrials	17.8%	12.6%
Consumer Cyclical	13.1%	-
Basic Materials	7.8%	2.3%
Financial Services	5.4%	-
Consumer Defensive	2.6%	-
Energy	0.4%	49.8%
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ACES vs. NLR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ACES

ACES Risk / Return Rank: 20
ACES Sharpe Ratio Rank: 19
ACES Sortino Ratio Rank: 21
ACES Omega Ratio Rank: 21
ACES Calmar Ratio Rank: 18
ACES Martin Ratio Rank: 19

NLR

NLR Risk / Return Rank: 10
NLR Sharpe Ratio Rank: 9
NLR Sortino Ratio Rank: 11
NLR Omega Ratio Rank: 11
NLR Calmar Ratio Rank: 9
NLR Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ACES vs. NLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Clean Energy ETF (ACES) and VanEck Uranium and Nuclear ETF (NLR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ACES	NLR	Difference
Sharpe ratio: Return per unit of total volatility	0.38	-0.10	+0.48
Sortino ratio: Return per unit of downside risk	0.74	0.16	+0.58
Omega ratio: Gain probability vs. loss probability	1.09	1.02	+0.07
Calmar ratio: Return relative to maximum drawdown	0.42	-0.12	+0.54
Martin ratio: Return relative to average drawdown	1.21	-0.26	+1.47

ACES vs. NLR - Sharpe Ratio Comparison

The current ACES Sharpe Ratio is 0.38, which is higher than the NLR Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of ACES and NLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACES vs. NLR - Drawdown Comparison

The maximum ACES drawdown since its inception was -79.05%, which is greater than NLR's maximum drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for ACES and NLR.

Drawdown Indicators

	ACES	NLR	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	-65.05%	-14.00%
Max Drawdown (1Y) Largest decline over 1 year	-31.05%	-37.52%	+6.47%
Max Drawdown (3Y) Largest decline over 3 years	-54.01%	-37.52%	-16.49%
Max Drawdown (5Y) Largest decline over 5 years	-74.44%	-37.52%	-36.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.52%	—
Current Drawdown Current decline from peak	-68.13%	-35.01%	-33.12%
Average Drawdown Average peak-to-trough decline	-39.35%	-35.67%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.72%	17.42%	-6.70%

Volatility

ACES vs. NLR - Volatility Comparison

The current volatility for ALPS Clean Energy ETF (ACES) is 10.28%, while VanEck Uranium and Nuclear ETF (NLR) has a volatility of 12.90%. This indicates that ACES experiences smaller price fluctuations and is considered to be less risky than NLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACES	NLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.28%	12.90%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	25.95%	32.42%	-6.47%
Volatility (1Y) Calculated over the trailing 1-year period	34.62%	43.80%	-9.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.61%	30.13%	+6.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.69%	24.58%	+11.11%

ACES vs. NLR - Expense Ratio Comparison

ACES has a 0.55% expense ratio, which is lower than NLR's 0.56% expense ratio.

Dividends

ACES vs. NLR - Dividend Comparison

ACES's dividend yield for the trailing twelve months is around 0.73%, less than NLR's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACES ALPS Clean Energy ETF	0.73%	0.70%	1.10%	1.44%	1.08%	0.71%	0.56%	1.79%	0.34%	0.00%	0.00%	0.00%
NLR VanEck Uranium and Nuclear ETF	2.96%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%

Frequently Asked Questions

Can I hold both ACES and NLR in my portfolio?

ACES and NLR have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACES or NLR?

NLR has higher volatility (12.90%) compared to ACES (10.28%). In terms of maximum drawdown, ACES dropped -79.05% vs NLR's -65.05%.

Which ETF is better, ACES or NLR?

On 5-year performance, NLR leads with 18.29% vs -15.09% for ACES. On fees, ACES is cheaper at 0.55% per year. On volatility, ACES has been the lower-risk option at 10.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACES or NLR?

Over the 5-year period, NLR has performed better with a 18.29% return vs -15.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACES or NLR?

ACES is cheaper with a 0.55% expense ratio, compared with 0.56% for NLR.

Which ETF pays a higher dividend yield, ACES or NLR?

NLR has the higher dividend yield at 2.96%, compared with 0.73% for ACES.

What is the main difference between ACES and NLR?

ACES is categorized as Alternative Energy Equities, while NLR is Uranium. ACES tracks CIBC Atlas Clean Energy Index, while NLR tracks MVIS Global Uranium & Nuclear Energy Index. They also come from different issuers: SS&C and VanEck. Their fees differ too: 0.55% for ACES and 0.56% for NLR.

Which has better risk-adjusted returns?

ACES currently has the higher Sharpe Ratio (0.38 vs -0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.