NLR vs. HBM
NLR (VanEck Uranium and Nuclear ETF) is Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while HBM (Hudbay Minerals Inc.) is a stock. Over the past 10 years, NLR returned 12.80%/yr vs 19.31%/yr for HBM. At a 0.40 correlation, their price movements are largely independent.
Performance
NLR vs. HBM - Performance Comparison
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Returns By Period
In the year-to-date period, NLR achieves a -1.81% return, which is significantly lower than HBM's 40.23% return. Over the past 10 years, NLR has underperformed HBM with an annualized return of 12.80%, while HBM has yielded a comparatively higher 19.31% 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%
HBM
- 1D
- 4.43%
- 1M
- 0.32%
- YTD
- 40.23%
- 6M
- 49.02%
- 1Y
- 189.83%
- 3Y*
- 78.89%
- 5Y*
- 31.42%
- 10Y*
- 19.31%
NLR vs. HBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
HBM Hudbay Minerals Inc. | 40.23% | 145.46% | 47.03% | 9.24% | -29.87% | 3.82% | 69.50% | -11.77% | -46.20% | 54.77% |
Correlation
The correlation between NLR and HBM is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2009 | 0.40 |
The correlation between NLR and HBM shifts across timeframes, from 0.36 (10 years) to 0.50 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NLR vs. HBM — Risk / Return Rank
NLR
HBM
NLR vs. HBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Hudbay Minerals Inc. (HBM). 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 | HBM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.44 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 5.28 | -4.65 |
| Martin ratioReturn relative to average drawdown | 1.41 | 16.41 | -15.00 |
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Drawdowns
NLR vs. HBM - Drawdown Comparison
The maximum NLR drawdown since its inception was -65.05%, smaller than the maximum HBM drawdown of -92.21%. Use the drawdown chart below to compare losses from any high point for NLR and HBM.
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Drawdown Indicators
| NLR | HBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.05% | -92.21% | +27.16% |
Max Drawdown (1Y)Largest decline over 1 year | -29.72% | -36.16% | +6.44% |
Max Drawdown (3Y)Largest decline over 3 years | -30.48% | -41.11% | +10.63% |
Max Drawdown (5Y)Largest decline over 5 years | -30.48% | -63.33% | +32.85% |
Max Drawdown (10Y)Largest decline over 10 years | -34.35% | -86.34% | +51.99% |
Current DrawdownCurrent decline from peak | -25.81% | -12.68% | -13.13% |
Average DrawdownAverage peak-to-trough decline | -35.70% | -52.45% | +16.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.33% | 11.62% | +1.71% |
Volatility
NLR vs. HBM - Volatility Comparison
The current volatility for VanEck Uranium and Nuclear ETF (NLR) is 13.73%, while Hudbay Minerals Inc. (HBM) has a volatility of 25.87%. This indicates that NLR experiences smaller price fluctuations and is considered to be less risky than HBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NLR | HBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.73% | 25.87% | -12.14% |
Volatility (6M)Calculated over the trailing 6-month period | 33.75% | 47.72% | -13.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.85% | 59.13% | -16.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.56% | 55.51% | -25.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.22% | 58.82% | -34.60% |
Dividends
NLR vs. HBM - Dividend Comparison
NLR's dividend yield for the trailing twelve months is around 2.60%, more than HBM's 0.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBM Hudbay Minerals Inc. | 0.08% | 0.07% | 0.17% | 0.31% | 0.32% | 0.22% | 0.21% | 0.36% | 0.38% | 0.23% | 0.35% | 0.52% |
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 HBM have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HBM has higher volatility (25.87%) compared to NLR (13.73%). In terms of maximum drawdown, NLR dropped -65.05% vs HBM's -92.21%.
HBM currently has the higher Sharpe Ratio (3.23 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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