NANR vs. URA

Last updated Jun 4, 2026

NANR (SPDR S&P North American Natural Resources ETF) and URA (Global X Uranium ETF) are both Commodity Producers Equities funds - NANR tracks the S&P BMI North American Natural Resources Index while URA tracks the Solactive Global Uranium & Nuclear Components Total Return Index. Both are passively managed. Over the past 10 years, NANR returned 12.52%/yr vs 17.12%/yr for URA. A 0.55 correlation means they provide meaningful diversification when combined. NANR charges 0.35%/yr vs 0.69%/yr for URA.

Performance

NANR vs. URA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P North American Natural Resources ETF (NANR) and Global X Uranium ETF (URA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NANR achieves a 24.07% return, which is significantly higher than URA's 17.93% return. Over the past 10 years, NANR has underperformed URA with an annualized return of 12.52%, while URA has yielded a comparatively higher 17.12% annualized return.

NANR

• 1D: -0.54%
• 1M: 2.37%
• YTD: 24.07%
• 6M: 26.38%
• 1Y: 53.70%
• 3Y*: 20.80%
• 5Y*: 16.21%
• 10Y*: 12.52%

URA

• 1D: -5.67%
• 1M: -8.00%
• YTD: 17.93%
• 6M: 13.25%
• 1Y: 61.26%
• 3Y*: 39.27%
• 5Y*: 21.39%
• 10Y*: 17.12%

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

NANR vs. URA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NANR SPDR S&P North American Natural Resources ETF	24.07%	35.35%	2.31%	-3.23%	26.49%	36.43%	1.03%	18.99%	-16.77%	8.03%
URA Global X Uranium ETF	17.93%	67.18%	-0.58%	46.25%	-11.32%	57.57%	41.33%	-3.54%	-22.11%	19.36%

Correlation

The correlation between NANR and URA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Dec 17, 2015	0.55

The correlation between NANR and URA shifts across timeframes, from 0.43 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

NANR vs. URA - Sectors Allocation Comparison

Sectors	NANR	URA
Basic Materials	47.1%	5.0%
Energy	41.1%	57.0%
Consumer Cyclical	5.9%	-
Consumer Defensive	4.4%	-
Real Estate	0.4%	-
Technology	0.1%	0.9%
Industrials	0.0%	21.9%
Utilities	0.0%	9.4%
Communication Services	-	-
Financial Services	-	-
Healthcare	-	-

Return for Risk

NANR vs. URA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NANR

NANR Risk / Return Rank: 86
NANR Sharpe Ratio Rank: 88
NANR Sortino Ratio Rank: 81
NANR Omega Ratio Rank: 81
NANR Calmar Ratio Rank: 91
NANR Martin Ratio Rank: 90

URA

URA Risk / Return Rank: 34
URA Sharpe Ratio Rank: 33
URA Sortino Ratio Rank: 34
URA Omega Ratio Rank: 31
URA Calmar Ratio Rank: 43
URA Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NANR vs. URA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P North American Natural Resources ETF (NANR) and Global X Uranium ETF (URA). 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.

	NANR	URA	Difference
Sharpe ratio: Return per unit of total volatility	2.98	1.23	+1.75
Sortino ratio: Return per unit of downside risk	3.72	1.86	+1.85
Omega ratio: Gain probability vs. loss probability	1.49	1.22	+0.28
Calmar ratio: Return relative to maximum drawdown	6.04	2.17	+3.87
Martin ratio: Return relative to average drawdown	21.31	4.58	+16.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NANR vs. URA - Sharpe Ratio Comparison

The current NANR Sharpe Ratio is 2.98, which is higher than the URA Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of NANR and URA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NANR	URA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.98	1.23	+1.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.49	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.46	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	-0.05	+0.68

Drawdowns

NANR vs. URA - Drawdown Comparison

The maximum NANR drawdown since its inception was -49.15%, smaller than the maximum URA drawdown of -93.54%. Use the drawdown chart below to compare losses from any high point for NANR and URA.

Drawdown Indicators

	NANR	URA	Difference
Max Drawdown Largest peak-to-trough decline	-49.15%	-93.54%	+44.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-28.43%	+19.50%
Max Drawdown (3Y) Largest decline over 3 years	-18.42%	-37.81%	+19.39%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-37.90%	+11.48%
Max Drawdown (10Y) Largest decline over 10 years	-49.15%	-61.45%	+12.30%
Current Drawdown Current decline from peak	-2.35%	-42.81%	+40.46%
Average Drawdown Average peak-to-trough decline	-8.40%	-75.01%	+66.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	13.40%	-10.87%

Volatility

NANR vs. URA - Volatility Comparison

The current volatility for SPDR S&P North American Natural Resources ETF (NANR) is 4.92%, while Global X Uranium ETF (URA) has a volatility of 15.94%. This indicates that NANR experiences smaller price fluctuations and is considered to be less risky than URA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANR	URA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	15.94%	-11.02%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	38.29%	-23.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	50.19%	-32.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	43.62%	-20.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	37.73%	-14.19%

NANR vs. URA - Expense Ratio Comparison

NANR has a 0.35% expense ratio, which is lower than URA's 0.69% expense ratio.

Dividends

NANR vs. URA - Dividend Comparison

NANR's dividend yield for the trailing twelve months is around 1.69%, less than URA's 4.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NANR SPDR S&P North American Natural Resources ETF	1.69%	1.77%	2.20%	2.78%	2.70%	2.61%	2.73%	2.02%	1.95%	1.83%	5.01%	0.01%
URA Global X Uranium ETF	4.14%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%

Frequently Asked Questions

Can I hold both NANR and URA in my portfolio?

NANR and URA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NANR or URA?

URA has higher volatility (15.94%) compared to NANR (4.92%). In terms of maximum drawdown, NANR dropped -49.15% vs URA's -93.54%.

Which ETF is better, NANR or URA?

On 10-year performance, URA leads with 17.12% vs 12.52% for NANR. On fees, NANR is cheaper at 0.35% per year. On volatility, NANR has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANR or URA?

Over the 10-year period, URA has performed better with a 17.12% return vs 12.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANR or URA?

NANR is cheaper with a 0.35% expense ratio, compared with 0.69% for URA.

Which ETF pays a higher dividend yield, NANR or URA?

URA has the higher dividend yield at 4.14%, compared with 1.69% for NANR.

What is the main difference between NANR and URA?

NANR tracks S&P BMI North American Natural Resources Index, while URA tracks Solactive Global Uranium & Nuclear Components Total Return Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.35% for NANR and 0.69% for URA.

Which has better risk-adjusted returns?

NANR currently has the higher Sharpe Ratio (2.98 vs 1.23), 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.