NLR vs. NOC

Last updated Jun 13, 2026

NLR (VanEck Uranium and Nuclear ETF) is Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while NOC (Northrop Grumman Corporation) is a stock. Over the past 10 years, NLR returned 12.80%/yr vs 11.53%/yr for NOC. At a 0.33 correlation, their price movements are largely independent.

Performance

NLR vs. NOC - Performance Comparison

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

Returns By Period

In the year-to-date period, NLR achieves a -1.81% return, which is significantly higher than NOC's -2.75% return. Over the past 10 years, NLR has outperformed NOC with an annualized return of 12.80%, while NOC has yielded a comparatively lower 11.53% 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%

NOC

• 1D: -0.40%
• 1M: 0.17%
• YTD: -2.75%
• 6M: -2.67%
• 1Y: 12.44%
• 3Y*: 8.64%
• 5Y*: 9.73%
• 10Y*: 11.53%

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

NLR vs. NOC - 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%
NOC Northrop Grumman Corporation	-2.75%	23.61%	1.93%	-12.79%	43.02%	29.29%	-9.92%	42.69%	-18.95%	33.88%

Correlation

The correlation between NLR and NOC is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Aug 15, 2007	0.33

The correlation between NLR and NOC shifts across timeframes, from 0.09 (3 years) to 0.33 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NLR vs. NOC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NLR

NLR Risk / Return Rank: 18
NLR Sharpe Ratio Rank: 17
NLR Sortino Ratio Rank: 19
NLR Omega Ratio Rank: 18
NLR Calmar Ratio Rank: 18
NLR Martin Ratio Rank: 17

NOC

NOC Risk / Return Rank: 54
NOC Sharpe Ratio Rank: 59
NOC Sortino Ratio Rank: 53
NOC Omega Ratio Rank: 52
NOC Calmar Ratio Rank: 52
NOC Martin Ratio Rank: 54

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. NOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Northrop Grumman Corporation (NOC). 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	NOC	Difference
Sharpe ratio: Return per unit of total volatility	0.44	0.47	-0.03
Sortino ratio: Return per unit of downside risk	0.90	0.87	+0.03
Omega ratio: Gain probability vs. loss probability	1.10	1.11	-0.01
Calmar ratio: Return relative to maximum drawdown	0.63	0.40	+0.23
Martin ratio: Return relative to average drawdown	1.41	1.02	+0.39

NLR vs. NOC - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.44, which is comparable to the NOC Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of NLR and NOC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NLR vs. NOC - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, smaller than the maximum NOC drawdown of -71.12%. Use the drawdown chart below to compare losses from any high point for NLR and NOC.

Drawdown Indicators

	NLR	NOC	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	-71.12%	+6.07%
Max Drawdown (1Y) Largest decline over 1 year	-29.72%	-31.20%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-30.48%	-31.20%	+0.72%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-31.20%	+0.72%
Max Drawdown (10Y) Largest decline over 10 years	-34.35%	-36.38%	+2.03%
Current Drawdown Current decline from peak	-25.81%	-28.03%	+2.22%
Average Drawdown Average peak-to-trough decline	-35.70%	-18.40%	-17.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.33%	12.25%	+1.08%

Volatility

NLR vs. NOC - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 13.73% compared to Northrop Grumman Corporation (NOC) at 7.39%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than NOC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLR	NOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.73%	7.39%	+6.34%
Volatility (6M) Calculated over the trailing 6-month period	33.75%	21.25%	+12.50%
Volatility (1Y) Calculated over the trailing 1-year period	42.85%	26.55%	+16.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.56%	25.28%	+4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.22%	25.42%	-1.20%

Dividends

NLR vs. NOC - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.60%, more than NOC's 1.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
NOC Northrop Grumman Corporation	1.71%	1.58%	1.72%	1.57%	1.24%	1.59%	1.86%	1.50%	1.92%	1.27%	1.50%	1.64%

Frequently Asked Questions

Can I hold both NLR and NOC in my portfolio?

NLR and NOC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NLR or NOC?

NLR has higher volatility (13.73%) compared to NOC (7.39%). In terms of maximum drawdown, NLR dropped -65.05% vs NOC's -71.12%.

Which has better risk-adjusted returns?

NOC currently has the higher Sharpe Ratio (0.47 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.