NLR vs. BIZD

Last updated Jul 17, 2026

NLR (VanEck Uranium and Nuclear ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, NLR returned 10.63%/yr vs 7.75%/yr for BIZD. At a 0.40 correlation, their price movements are largely independent. NLR charges 0.56%/yr vs 12.86%/yr for BIZD.

Performance

NLR vs. BIZD - Performance Comparison

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

Returns By Period

In the year-to-date period, NLR achieves a -15.72% return, which is significantly lower than BIZD's -3.95% return. Over the past 10 years, NLR has outperformed BIZD with an annualized return of 10.63%, while BIZD has yielded a comparatively lower 7.75% annualized return.

NLR

• 1D: -4.31%
• 1M: -16.00%
• 6M: -27.85%
• YTD: -15.72%
• 1Y: -6.24%
• 3Y*: 23.28%
• 5Y*: 17.50%
• 10Y*: 10.63%

BIZD

• 1D: 1.50%
• 1M: 3.86%
• 6M: -6.71%
• YTD: -3.95%
• 1Y: -13.50%
• 3Y*: 5.03%
• 5Y*: 5.46%
• 10Y*: 7.75%

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

NLR vs. BIZD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NLR VanEck Uranium and Nuclear ETF	-15.72%	56.50%	14.26%	36.67%	2.29%	13.63%	3.49%	0.20%	4.94%	8.25%
BIZD VanEck BDC Income ETF	-3.95%	-4.96%	15.63%	27.02%	-8.51%	36.25%	-7.12%	30.87%	-6.88%	0.36%

Correlation

The correlation between NLR and BIZD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013	0.40

The correlation between NLR and BIZD shifts across timeframes, from 0.27 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

NLR vs. BIZD - Sectors Allocation Comparison

Sectors	NLR	BIZD
Energy	48.0%	-
Utilities	29.2%	-
Industrials	18.9%	-
Basic Materials	2.3%	-
Technology	1.8%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	100.0%
Healthcare	-	-
Real Estate	-	-

Return for Risk

NLR vs. BIZD — Risk / Return Rank

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

NLR

NLR Risk / Return Rank: 8
NLR Sharpe Ratio Rank: 8
NLR Sortino Ratio Rank: 9
NLR Omega Ratio Rank: 9
NLR Calmar Ratio Rank: 8
NLR Martin Ratio Rank: 7

BIZD

BIZD Risk / Return Rank: 4
BIZD Sharpe Ratio Rank: 3
BIZD Sortino Ratio Rank: 4
BIZD Omega Ratio Rank: 4
BIZD Calmar Ratio Rank: 4
BIZD Martin Ratio Rank: 5

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. BIZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and VanEck BDC Income ETF (BIZD). 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.

	NLR	BIZD	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	-0.72	+0.58
Sortino ratio: Return per unit of downside risk	0.09	-0.95	+1.04
Omega ratio: Gain probability vs. loss probability	1.01	0.90	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.17	-0.61	+0.44
Martin ratio: Return relative to average drawdown	-0.39	-0.97	+0.57

NLR vs. BIZD - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is -0.15, which is higher than the BIZD Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of NLR and BIZD, 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

NLR vs. BIZD - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than BIZD's maximum drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for NLR and BIZD.

Drawdown Indicators

	NLR	BIZD	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	-55.44%	-9.61%
Max Drawdown (1Y) Largest decline over 1 year	-36.32%	-22.22%	-14.10%
Max Drawdown (3Y) Largest decline over 3 years	-36.32%	-22.56%	-13.76%
Max Drawdown (5Y) Largest decline over 5 years	-36.32%	-22.91%	-13.41%
Max Drawdown (10Y) Largest decline over 10 years	-36.32%	-55.44%	+19.12%
Current Drawdown Current decline from peak	-36.32%	-14.81%	-21.51%
Average Drawdown Average peak-to-trough decline	-35.67%	-6.81%	-28.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.87%	14.01%	+1.86%

Volatility

NLR vs. BIZD - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 9.39% compared to VanEck BDC Income ETF (BIZD) at 4.93%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLR	BIZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.39%	4.93%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	32.73%	15.06%	+17.67%
Volatility (1Y) Calculated over the trailing 1-year period	43.21%	18.73%	+24.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.90%	17.49%	+12.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.42%	21.78%	+2.64%

NLR vs. BIZD - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is lower than BIZD's 12.86% expense ratio.

Dividends

NLR vs. BIZD - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 3.02%, less than BIZD's 11.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIZD VanEck BDC Income ETF	11.85%	11.78%	10.94%	10.96%	11.21%	8.14%	10.39%	9.13%	10.88%	9.13%	8.51%	9.12%
NLR VanEck Uranium and Nuclear ETF	3.02%	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 BIZD in my portfolio?

NLR and BIZD have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NLR or BIZD?

NLR has higher volatility (9.39%) compared to BIZD (4.93%). In terms of maximum drawdown, NLR dropped -65.05% vs BIZD's -55.44%.

Which ETF is better, NLR or BIZD?

On 10-year performance, NLR leads with 10.63% vs 7.75% for BIZD. On fees, NLR is cheaper at 0.56% per year. On volatility, BIZD has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NLR or BIZD?

Over the 10-year period, NLR has performed better with a 10.63% return vs 7.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NLR or BIZD?

NLR is cheaper with a 0.56% expense ratio, compared with 12.86% for BIZD.

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

BIZD has the higher dividend yield at 11.85%, compared with 3.02% for NLR.

What is the main difference between NLR and BIZD?

NLR is categorized as Uranium, while BIZD is Financials Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while BIZD tracks MVIS US Business Development Companies Index. Their fees differ too: 0.56% for NLR and 12.86% for BIZD.

Which has better risk-adjusted returns?

NLR currently has the higher Sharpe Ratio (-0.15 vs -0.72), 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.