PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
NLR vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NLR vs. IWM

Last updated Jul 21, 2026
Documentation

NLR (VanEck Uranium and Nuclear ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, NLR returned 10.66%/yr vs 10.65%/yr for IWM. A 0.57 correlation means they provide meaningful diversification when combined. NLR charges 0.56%/yr vs 0.19%/yr for IWM.

Performance

NLR vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, NLR achieves a -15.40% return, which is significantly lower than IWM's 19.24% return. Both investments have delivered pretty close results over the past 10 years, with NLR having a 10.66% annualized return and IWM not far behind at 10.65%.

NLR

1D
0.83%
1M
-17.23%
6M
-29.26%
YTD
-15.40%
1Y
-8.06%
3Y*
23.46%
5Y*
17.81%
10Y*
10.66%
ALL TIME*
3.20%

IWM

1D
-0.59%
1M
-1.11%
6M
10.45%
YTD
19.24%
1Y
32.84%
3Y*
15.91%
5Y*
6.97%
10Y*
10.65%
ALL TIME*
8.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NLR vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NLR
VanEck Uranium and Nuclear ETF		-15.40%56.50%14.26%36.67%2.29%13.63%3.49%0.20%4.94%8.25%
IWM
iShares Russell 2000 ETF		19.24%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between NLR and IWM is 0.60, 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

0.60

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

0.52

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

0.57

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

0.52

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

0.57

The correlation between NLR and IWM has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.

NLR vs. IWM - Sectors Allocation Comparison

Sectors
NLR
IWM

Energy

48.2%
5.8%

Utilities

26.2%
2.9%

Industrials

21.8%
13.9%

Basic Materials

2.3%
4.3%

Technology

1.6%
14.3%

Communication Services

-

1.9%

Consumer Cyclical

-

9.0%

Consumer Defensive

-

2.6%

Financial Services

-

17.9%

Healthcare

-

20.5%

Real Estate

-

6.6%

Energy

NLR
48.2%
IWM
5.8%

Utilities

NLR
26.2%
IWM
2.9%

Industrials

NLR
21.8%
IWM
13.9%

Basic Materials

NLR
2.3%
IWM
4.3%

Technology

NLR
1.6%
IWM
14.3%

Communication Services

NLR

-

IWM
1.9%

Consumer Cyclical

NLR

-

IWM
9.0%

Consumer Defensive

NLR

-

IWM
2.6%

Financial Services

NLR

-

IWM
17.9%

Healthcare

NLR

-

IWM
20.5%

Real Estate

NLR

-

IWM
6.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Uranium and Nuclear ETF

iShares Russell 2000 ETF

Often compared with NLR:
NLR vs. URANLR vs. NUKZNLR vs. URNMNLR vs. OKLONLR vs. GRIDNLR vs. URANNLR vs. SMH
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. VOOIWM vs. IWNIWM vs. IWO

Return for Risk

NLR vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NLR
NLR Risk / Return Rank: 88
Overall Rank
NLR Sharpe Ratio Rank: 88
Sharpe Ratio Rank
NLR Sortino Ratio Rank: 99
Sortino Ratio Rank
NLR Omega Ratio Rank: 99
Omega Ratio Rank
NLR Calmar Ratio Rank: 88
Calmar Ratio Rank
NLR Martin Ratio Rank: 88
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 7272
Overall Rank
IWM Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7272
Sortino Ratio Rank
IWM Omega Ratio Rank: 6464
Omega Ratio Rank
IWM Calmar Ratio Rank: 7878
Calmar Ratio Rank
IWM Martin Ratio Rank: 7777
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. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and iShares Russell 2000 ETF (IWM). 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.

NLRIWMDifference
Sharpe ratioReturn per unit of total volatility
-0.19
1.71

-1.89

Sortino ratioReturn per unit of downside risk
0.03
2.44

-2.41

Omega ratioGain probability vs. loss probability

1.00

1.29

-0.28

Calmar ratioReturn relative to maximum drawdown

-0.22

2.99

-3.21

Martin ratioReturn relative to average drawdown

-0.50

10.54

-11.04

NLR vs. IWM - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is -0.19, which is lower than the IWM Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of NLR and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

NLR vs. IWM - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for NLR and IWM.

Loading charts...

Drawdown Indicators

NLRIWMDifference

Max Drawdown

Largest peak-to-trough decline

-65.05%

-59.05%

-6.00%

Max Drawdown (1Y)

Largest decline over 1 year

-36.61%

-11.03%

-25.58%

Max Drawdown (3Y)

Largest decline over 3 years

-36.61%

-27.50%

-9.11%

Max Drawdown (5Y)

Largest decline over 5 years

-36.61%

-31.91%

-4.70%

Max Drawdown (10Y)

Largest decline over 10 years

-36.61%

-41.13%

+4.52%

Current Drawdown

Current decline from peak

-36.08%

-2.71%

-33.37%

Average Drawdown

Average peak-to-trough decline

-35.67%

-10.72%

-24.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.20%

3.12%

+13.08%

Volatility

NLR vs. IWM - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 9.51% compared to iShares Russell 2000 ETF (IWM) at 3.62%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

NLRIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.51%

3.62%

+5.89%

Volatility (6M)

Calculated over the trailing 6-month period

32.62%

14.17%

+18.45%

Volatility (1Y)

Calculated over the trailing 1-year period

43.18%

19.38%

+23.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.88%

22.49%

+7.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.43%

23.00%

+1.43%

NLR vs. IWM - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

NLR vs. IWM - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 3.01%, more than IWM's 0.91% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.91%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
NLR
VanEck Uranium and Nuclear ETF		3.01%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 IWM have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NLR has higher volatility (9.51%) compared to IWM (3.62%). In terms of maximum drawdown, NLR dropped -65.05% vs IWM's -59.05%.

On 10-year performance, NLR leads with 10.66% vs 10.65% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, NLR has performed better with a 10.66% return vs 10.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.56% for NLR.

NLR has the higher dividend yield at 3.01%, compared with 0.91% for IWM.

NLR is categorized as Uranium, while IWM is Small Cap Blend Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while IWM tracks Russell 2000 Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.56% for NLR and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (1.71 vs -0.19), 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.

Portfolio Optimizer

Find the right allocation for NLR and IWM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer