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NLR vs. EPU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NLR vs. EPU

Last updated Jun 9, 2026

NLR (VanEck Uranium and Nuclear ETF) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index. Both are passively managed. Over the past 10 years, NLR returned 12.72%/yr vs 13.60%/yr for EPU. At a 0.46 correlation, their price movements are largely independent. NLR charges 0.56%/yr vs 0.59%/yr for EPU.

Performance

NLR vs. EPU - Performance Comparison

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

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Returns By Period

In the year-to-date period, NLR achieves a -0.79% return, which is significantly lower than EPU's 8.06% return. Over the past 10 years, NLR has underperformed EPU with an annualized return of 12.72%, while EPU has yielded a comparatively higher 13.60% annualized return.

NLR

1D
0.91%
1M
-12.54%
YTD
-0.79%
6M
-6.08%
1Y
26.72%
3Y*
31.16%
5Y*
20.16%
10Y*
12.72%

EPU

1D
-0.48%
1M
-6.18%
YTD
8.06%
6M
18.00%
1Y
64.61%
3Y*
41.57%
5Y*
25.82%
10Y*
13.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NLR vs. EPU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NLR
VanEck Uranium and Nuclear ETF		-0.79%56.50%14.26%36.67%2.29%13.63%3.49%0.20%4.94%8.25%
EPU
iShares MSCI Peru ETF		8.06%86.87%21.73%25.34%2.05%-11.81%-4.31%7.30%-12.17%29.70%

Correlation

The correlation between NLR and EPU is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (5Y)
Calculated over the trailing 5-year period

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.42

Correlation (All Time)
Calculated using the full available price history since Jun 23, 2009

0.46

The correlation between NLR and EPU shifts across timeframes, from 0.42 (10 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.

NLR vs. EPU - Sectors Allocation Comparison

Sectors
NLR
EPU

Energy

46.0%

-

Utilities

37.4%
2.8%

Industrials

15.1%
2.8%

Technology

1.5%

-

Basic Materials

-

52.7%

Communication Services

-

1.6%

Consumer Cyclical

-

4.1%

Consumer Defensive

-

3.0%

Financial Services

-

28.8%

Healthcare

-

1.2%

Real Estate

-

3.2%

Energy

NLR
46.0%
EPU

-

Utilities

NLR
37.4%
EPU
2.8%

Industrials

NLR
15.1%
EPU
2.8%

Technology

NLR
1.5%
EPU

-

Basic Materials

NLR

-

EPU
52.7%

Communication Services

NLR

-

EPU
1.6%

Consumer Cyclical

NLR

-

EPU
4.1%

Consumer Defensive

NLR

-

EPU
3.0%

Financial Services

NLR

-

EPU
28.8%

Healthcare

NLR

-

EPU
1.2%

Real Estate

NLR

-

EPU
3.2%

Compare stocks, funds, or ETFs

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VanEck Uranium and Nuclear ETF

iShares MSCI Peru ETF

Often compared with NLR:
NLR vs. URANLR vs. NUKZNLR vs. URNMNLR vs. OKLONLR vs. GRIDNLR vs. URANNLR vs. SMH
Often compared with EPU:
EPU vs. ECHEPU vs. ILFEPU vs. ARGTEPU vs. EISEPU vs. EVXEPU vs. EWSEPU vs. EPI

Return for Risk

NLR vs. EPU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NLR
NLR Risk / Return Rank: 2222
Overall Rank
NLR Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
NLR Sortino Ratio Rank: 2323
Sortino Ratio Rank
NLR Omega Ratio Rank: 2121
Omega Ratio Rank
NLR Calmar Ratio Rank: 2424
Calmar Ratio Rank
NLR Martin Ratio Rank: 1919
Martin Ratio Rank
EPU
EPU Risk / Return Rank: 6666
Overall Rank
EPU Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
EPU Sortino Ratio Rank: 6262
Sortino Ratio Rank
EPU Omega Ratio Rank: 6666
Omega Ratio Rank
EPU Calmar Ratio Rank: 6969
Calmar Ratio Rank
EPU Martin Ratio Rank: 5757
Martin Ratio Rank
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. EPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and iShares MSCI Peru ETF (EPU). 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.

NLREPUDifference
Sharpe ratioReturn per unit of total volatility
0.63
2.16

-1.54

Sortino ratioReturn per unit of downside risk
1.13
2.59

-1.46

Omega ratioGain probability vs. loss probability

1.13

1.36

-0.22

Calmar ratioReturn relative to maximum drawdown

1.04

3.11

-2.07

Martin ratioReturn relative to average drawdown

2.08

9.14

-7.06

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NLR vs. EPU - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.63, which is lower than the EPU Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of NLR and EPU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NLREPUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.63

2.16

-1.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

1.04

-0.36

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.58

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.16

0.43

-0.27

Drawdowns

NLR vs. EPU - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than EPU's maximum drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for NLR and EPU.

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Drawdown Indicators

NLREPUDifference

Max Drawdown

Largest peak-to-trough decline

-65.05%

-60.62%

-4.43%

Max Drawdown (1Y)

Largest decline over 1 year

-25.80%

-20.85%

-4.95%

Max Drawdown (3Y)

Largest decline over 3 years

-30.48%

-20.85%

-9.63%

Max Drawdown (5Y)

Largest decline over 5 years

-30.48%

-35.59%

+5.11%

Max Drawdown (10Y)

Largest decline over 10 years

-34.35%

-50.97%

+16.62%

Current Drawdown

Current decline from peak

-25.03%

-16.69%

-8.34%

Average Drawdown

Average peak-to-trough decline

-35.71%

-18.82%

-16.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.87%

7.09%

+5.78%

Volatility

NLR vs. EPU - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 13.36% compared to iShares MSCI Peru ETF (EPU) at 10.84%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NLREPUDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.36%

10.84%

+2.52%

Volatility (6M)

Calculated over the trailing 6-month period

33.24%

25.83%

+7.41%

Volatility (1Y)

Calculated over the trailing 1-year period

42.96%

30.07%

+12.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.43%

24.91%

+4.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.14%

23.52%

+0.62%

NLR vs. EPU - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is lower than EPU's 0.59% expense ratio.

Dividends

NLR vs. EPU - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.57%, more than EPU's 1.51% yield.

PositionTTM20252024202320222021202020192018201720162015
EPU
iShares MSCI Peru ETF		1.51%1.63%5.78%4.17%5.56%3.13%1.91%2.67%1.53%3.30%0.85%1.90%
NLR
VanEck Uranium and Nuclear ETF		2.57%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

NLR and EPU have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NLR has higher volatility (13.36%) compared to EPU (10.84%). In terms of maximum drawdown, NLR dropped -65.05% vs EPU's -60.62%.

On 10-year performance, EPU leads with 13.60% vs 12.72% for NLR. On fees, NLR is cheaper at 0.56% per year. On volatility, EPU has been the lower-risk option at 10.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EPU has performed better with a 13.60% return vs 12.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

NLR is cheaper with a 0.56% expense ratio, compared with 0.59% for EPU.

NLR has the higher dividend yield at 2.57%, compared with 1.51% for EPU.

NLR is categorized as Alternative Energy Equities, while EPU is Mid Cap Blend Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while EPU tracks MSCI All Peru Capped Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.56% for NLR and 0.59% for EPU.

EPU currently has the higher Sharpe Ratio (2.16 vs 0.63), 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.

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