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NLR vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NLR vs. EWY

Last updated Jun 13, 2026

NLR (VanEck Uranium and Nuclear ETF) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, NLR returned 12.80%/yr vs 16.84%/yr for EWY. A 0.52 correlation means they provide meaningful diversification when combined. NLR charges 0.56%/yr vs 0.59%/yr for EWY.

Performance

NLR vs. EWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and iShares MSCI South Korea ETF (EWY). 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 -1.81% return, which is significantly lower than EWY's 103.10% return. Over the past 10 years, NLR has underperformed EWY with an annualized return of 12.80%, while EWY has yielded a comparatively higher 16.84% annualized return.

NLR

1D
0.84%
1M
-10.59%
YTD
-1.81%
6M
-3.70%
1Y
18.72%
3Y*
29.88%
5Y*
19.78%
10Y*
12.80%

EWY

1D
-0.75%
1M
4.68%
YTD
103.10%
6M
117.85%
1Y
198.25%
3Y*
46.46%
5Y*
18.80%
10Y*
16.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NLR vs. EWY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NLR
VanEck Uranium and Nuclear ETF		-1.81%56.50%14.26%36.67%2.29%13.63%3.49%0.20%4.94%8.25%
EWY
iShares MSCI South Korea ETF		103.10%95.33%-20.48%19.05%-26.59%-7.58%39.43%7.97%-20.37%44.97%

Correlation

The correlation between NLR and EWY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

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

0.43

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

0.47

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

0.44

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2007

0.52

The correlation between NLR and EWY has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

NLR vs. EWY - Sectors Allocation Comparison

Sectors
NLR
EWY

Energy

46.0%
1.4%

Utilities

37.4%
0.4%

Industrials

15.1%
20.4%

Technology

1.5%
52.4%

Basic Materials

-

2.0%

Communication Services

-

2.9%

Consumer Cyclical

-

5.7%

Consumer Defensive

-

1.7%

Financial Services

-

9.6%

Healthcare

-

3.5%

Real Estate

-

-

Energy

NLR
46.0%
EWY
1.4%

Utilities

NLR
37.4%
EWY
0.4%

Industrials

NLR
15.1%
EWY
20.4%

Technology

NLR
1.5%
EWY
52.4%

Basic Materials

NLR

-

EWY
2.0%

Communication Services

NLR

-

EWY
2.9%

Consumer Cyclical

NLR

-

EWY
5.7%

Consumer Defensive

NLR

-

EWY
1.7%

Financial Services

NLR

-

EWY
9.6%

Healthcare

NLR

-

EWY
3.5%

Real Estate

NLR

-

EWY

-

Compare stocks, funds, or ETFs

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VanEck Uranium and Nuclear ETF

iShares MSCI South Korea ETF

Often compared with NLR:
NLR vs. URANLR vs. NUKZNLR vs. URNMNLR vs. OKLONLR vs. GRIDNLR vs. URANNLR vs. SMH
Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. QQQEWY vs. EWTEWY vs. EWH

Return for Risk

NLR vs. EWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NLR
NLR Risk / Return Rank: 1818
Overall Rank
NLR Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
NLR Sortino Ratio Rank: 1919
Sortino Ratio Rank
NLR Omega Ratio Rank: 1818
Omega Ratio Rank
NLR Calmar Ratio Rank: 1818
Calmar Ratio Rank
NLR Martin Ratio Rank: 1717
Martin Ratio Rank
EWY
EWY Risk / Return Rank: 9595
Overall Rank
EWY Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 9393
Sortino Ratio Rank
EWY Omega Ratio Rank: 9494
Omega Ratio Rank
EWY Calmar Ratio Rank: 9797
Calmar Ratio Rank
EWY Martin Ratio Rank: 9696
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. EWY - Risk-Adjusted Trends Comparison

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

NLREWYDifference
Sharpe ratioReturn per unit of total volatility
0.44
4.29

-3.85

Sortino ratioReturn per unit of downside risk
0.90
4.08

-3.18

Omega ratioGain probability vs. loss probability

1.10

1.59

-0.49

Calmar ratioReturn relative to maximum drawdown

0.63

8.65

-8.01

Martin ratioReturn relative to average drawdown

1.41

30.24

-28.83

NLR vs. EWY - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.44, which is lower than the EWY Sharpe Ratio of 4.29. The chart below compares the historical Sharpe Ratios of NLR and EWY, 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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Drawdowns

NLR vs. EWY - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, smaller than the maximum EWY drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for NLR and EWY.

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Drawdown Indicators

NLREWYDifference

Max Drawdown

Largest peak-to-trough decline

-65.05%

-74.14%

+9.09%

Max Drawdown (1Y)

Largest decline over 1 year

-29.72%

-23.08%

-6.64%

Max Drawdown (3Y)

Largest decline over 3 years

-30.48%

-27.36%

-3.12%

Max Drawdown (5Y)

Largest decline over 5 years

-30.48%

-48.55%

+18.07%

Max Drawdown (10Y)

Largest decline over 10 years

-34.35%

-49.73%

+15.38%

Current Drawdown

Current decline from peak

-25.81%

-8.88%

-16.93%

Average Drawdown

Average peak-to-trough decline

-35.70%

-20.11%

-15.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.33%

6.59%

+6.74%

Volatility

NLR vs. EWY - Volatility Comparison

The current volatility for VanEck Uranium and Nuclear ETF (NLR) is 13.73%, while iShares MSCI South Korea ETF (EWY) has a volatility of 25.64%. This indicates that NLR experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NLREWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.73%

25.64%

-11.91%

Volatility (6M)

Calculated over the trailing 6-month period

33.75%

42.65%

-8.90%

Volatility (1Y)

Calculated over the trailing 1-year period

42.85%

46.51%

-3.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.56%

30.15%

-0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.22%

28.06%

-3.84%

NLR vs. EWY - Expense Ratio Comparison

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

Dividends

NLR vs. EWY - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.60%, more than EWY's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
EWY
iShares MSCI South Korea ETF		1.03%2.10%2.55%2.52%1.23%2.16%0.73%2.10%1.34%2.90%1.21%2.42%
NLR
VanEck Uranium and Nuclear ETF		2.60%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 EWY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWY has higher volatility (25.64%) compared to NLR (13.73%). In terms of maximum drawdown, NLR dropped -65.05% vs EWY's -74.14%.

On 10-year performance, EWY leads with 16.84% vs 12.80% for NLR. On fees, NLR is cheaper at 0.56% per year. On volatility, NLR has been the lower-risk option at 13.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWY has performed better with a 16.84% return vs 12.80%. 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 EWY.

NLR has the higher dividend yield at 2.60%, compared with 1.03% for EWY.

NLR is categorized as Alternative Energy Equities, while EWY is Asia Pacific Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while EWY tracks MSCI Korea Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.56% for NLR and 0.59% for EWY.

EWY currently has the higher Sharpe Ratio (4.29 vs 0.44), 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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