NLR vs. HJEN

Last updated Jun 4, 2026

NLR (VanEck Uranium and Nuclear ETF) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - NLR tracks the MVIS Global Uranium & Nuclear Energy Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. At a 0.35 correlation, their price movements are largely independent. NLR charges 0.56%/yr vs 0.45%/yr for HJEN.

Performance

NLR vs. HJEN - Performance Comparison

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

Returns By Period

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%

HJEN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NLR vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NLR VanEck Uranium and Nuclear ETF	6.14%	56.50%	14.26%	36.67%	2.29%	6.60%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-13.86%

Correlation

The correlation between NLR and HJEN is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.35

The correlation between NLR and HJEN shifts across timeframes, from 0.20 (3 years) to 0.36 (5 years), reflecting how their relationship changes across market environments.

NLR vs. HJEN - Sectors Allocation Comparison

Sectors	NLR	HJEN
Energy	46.0%	8.3%
Utilities	37.4%	-
Industrials	15.1%	31.7%
Technology	1.5%	7.6%
Basic Materials	-	9.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	3.3%
Healthcare	-	-
Real Estate	-	-

Return for Risk

NLR vs. HJEN — 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. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Direxion Hydrogen ETF (HJEN). 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	HJEN	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	HJEN	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	—	—

Drawdowns

Drawdown Indicators

	NLR	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	—	—
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%	—	—
Average Drawdown Average peak-to-trough decline	-35.72%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	12.61%	—	—

Volatility

Volatility by Period

	NLR	HJEN	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%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.24%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.02%	—	—

NLR vs. HJEN - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is higher than HJEN's 0.45% expense ratio.

Dividends

NLR vs. HJEN - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.40%, while HJEN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	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 HJEN in my portfolio?

NLR and HJEN have a correlation of 0.35, 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 HJEN?

On fees, HJEN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NLR or HJEN?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.56% for NLR.

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

NLR has the higher dividend yield at 2.40%, compared with 0.00% for HJEN.

What is the main difference between NLR and HJEN?

NLR tracks MVIS Global Uranium & Nuclear Energy Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.56% for NLR and 0.45% for HJEN.