NLR vs. AIPO

Last updated Jun 4, 2026

NLR (VanEck Uranium and Nuclear ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while AIPO is a Technology Equities fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. NLR charges 0.56%/yr vs 0.69%/yr for AIPO.

Performance

NLR vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NLR achieves a 6.14% return, which is significantly lower than AIPO's 52.03% return.

NLR

• 1D: -4.59%
• 1M: -8.11%
• YTD: 6.14%
• 6M: 1.51%
• 1Y: 36.84%
• 3Y*: 35.11%
• 5Y*: 21.94%
• 10Y*: 13.66%

AIPO

• 1D: -1.12%
• 1M: 6.63%
• YTD: 52.03%
• 6M: 45.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NLR vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
NLR VanEck Uranium and Nuclear ETF	6.14%	5.25%
AIPO Defiance AI & Power Infrastructure ETF	52.03%	8.68%

Correlation

The correlation between NLR and AIPO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 28, 2025	0.77

NLR vs. AIPO - Sectors Allocation Comparison

Sectors	NLR	AIPO
Energy	46.0%	6.9%
Utilities	37.4%	14.4%
Industrials	15.1%	57.1%
Technology	1.5%	16.5%
Basic Materials	-	-
Communication Services	-	0.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	3.6%
Healthcare	-	-
Real Estate	-	1.0%

Return for Risk

NLR vs. AIPO — Risk / Return Rank

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

NLR

NLR Risk / Return Rank: 25
NLR Sharpe Ratio Rank: 24
NLR Sortino Ratio Rank: 26
NLR Omega Ratio Rank: 24
NLR Calmar Ratio Rank: 29
NLR Martin Ratio Rank: 22

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.

NLR vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	NLR	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	0.88	—	—
Sortino ratio: Return per unit of downside risk	1.43	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.43	—	—
Martin ratio: Return relative to average drawdown	2.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NLR	AIPO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	2.36	-2.18

Drawdowns

NLR vs. AIPO - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for NLR and AIPO.

Drawdown Indicators

	NLR	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	-17.31%	-47.74%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.35%	—	—
Current Drawdown Current decline from peak	-19.80%	-1.12%	-18.68%
Average Drawdown Average peak-to-trough decline	-35.72%	-4.38%	-31.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.61%	—	—

Volatility

Volatility by Period

	NLR	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	32.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	42.32%	34.09%	+8.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.24%	34.09%	-4.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.02%	34.09%	-10.07%

NLR vs. AIPO - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is lower than AIPO's 0.69% expense ratio.

Dividends

NLR vs. AIPO - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.40%, more than AIPO's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NLR VanEck Uranium and Nuclear ETF	2.40%	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 NLR and AIPO in my portfolio?

NLR and AIPO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NLR or AIPO?

On fees, NLR is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NLR or AIPO?

NLR is cheaper with a 0.56% expense ratio, compared with 0.69% for AIPO.

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

NLR has the higher dividend yield at 2.40%, compared with 0.01% for AIPO.

What is the main difference between NLR and AIPO?

NLR is categorized as Alternative Energy Equities, while AIPO is Technology Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index. They also come from different issuers: VanEck and Defiance. Their fees differ too: 0.56% for NLR and 0.69% for AIPO.