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NLR vs. SPXT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NLR vs. SPXT

Last updated Jun 13, 2026

NLR (VanEck Uranium and Nuclear ETF) and SPXT (ProShares S&P 500 Ex-Technology ETF) are both exchange-traded funds - NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while SPXT is a S&P 500 fund tracking the S&P 500 Ex-Information Technology Index. Both are passively managed. Over the past 10 years, NLR returned 12.80%/yr vs 11.43%/yr for SPXT. At a 0.49 correlation, their price movements are largely independent. NLR charges 0.56%/yr vs 0.09%/yr for SPXT.

Performance

NLR vs. SPXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and ProShares S&P 500 Ex-Technology ETF (SPXT). 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 SPXT's 4.27% return. Over the past 10 years, NLR has outperformed SPXT with an annualized return of 12.80%, while SPXT has yielded a comparatively lower 11.43% 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%

SPXT

1D
0.54%
1M
-0.56%
YTD
4.27%
6M
4.57%
1Y
15.84%
3Y*
16.14%
5Y*
9.46%
10Y*
11.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NLR vs. SPXT - 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%
SPXT
ProShares S&P 500 Ex-Technology ETF		4.27%15.10%19.93%16.23%-14.24%26.36%10.44%26.88%-7.06%16.99%

Correlation

The correlation between NLR and SPXT is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.43

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

0.53

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

0.51

Correlation (All Time)
Calculated using the full available price history since Sep 24, 2015

0.49

The correlation between NLR and SPXT shifts across timeframes, from 0.37 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

NLR vs. SPXT - Sectors Allocation Comparison

Sectors
NLR
SPXT

Energy

46.0%
5.1%

Utilities

37.4%
4.1%

Industrials

15.1%
12.2%

Technology

1.5%
1.0%

Basic Materials

-

2.8%

Communication Services

-

17.0%

Consumer Cyclical

-

15.9%

Consumer Defensive

-

7.3%

Financial Services

-

18.0%

Healthcare

-

13.5%

Real Estate

-

2.9%

Energy

NLR
46.0%
SPXT
5.1%

Utilities

NLR
37.4%
SPXT
4.1%

Industrials

NLR
15.1%
SPXT
12.2%

Technology

NLR
1.5%
SPXT
1.0%

Basic Materials

NLR

-

SPXT
2.8%

Communication Services

NLR

-

SPXT
17.0%

Consumer Cyclical

NLR

-

SPXT
15.9%

Consumer Defensive

NLR

-

SPXT
7.3%

Financial Services

NLR

-

SPXT
18.0%

Healthcare

NLR

-

SPXT
13.5%

Real Estate

NLR

-

SPXT
2.9%

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

ProShares S&P 500 Ex-Technology ETF

Often compared with NLR:
NLR vs. URANLR vs. NUKZNLR vs. URNMNLR vs. OKLONLR vs. GRIDNLR vs. URANNLR vs. SMH
Often compared with SPXT:
SPXT vs. SPYSPXT vs. SPXCSPXT vs. XMAGSPXT vs. VOOSPXT vs. QQQSPXT vs. USMVSPXT vs. SPXV

Return for Risk

NLR vs. SPXT — 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
SPXT
SPXT Risk / Return Rank: 5050
Overall Rank
SPXT Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SPXT Sortino Ratio Rank: 5151
Sortino Ratio Rank
SPXT Omega Ratio Rank: 4747
Omega Ratio Rank
SPXT Calmar Ratio Rank: 4646
Calmar Ratio Rank
SPXT Martin Ratio Rank: 5656
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. SPXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and ProShares S&P 500 Ex-Technology ETF (SPXT). 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.

NLRSPXTDifference
Sharpe ratioReturn per unit of total volatility
0.44
1.52

-1.08

Sortino ratioReturn per unit of downside risk
0.90
2.19

-1.29

Omega ratioGain probability vs. loss probability

1.10

1.26

-0.16

Calmar ratioReturn relative to maximum drawdown

0.63

2.01

-1.38

Martin ratioReturn relative to average drawdown

1.41

8.70

-7.29

NLR vs. SPXT - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.44, which is lower than the SPXT Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of NLR and SPXT, 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. SPXT - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than SPXT's maximum drawdown of -34.38%. Use the drawdown chart below to compare losses from any high point for NLR and SPXT.

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Drawdown Indicators

NLRSPXTDifference

Max Drawdown

Largest peak-to-trough decline

-65.05%

-34.38%

-30.67%

Max Drawdown (1Y)

Largest decline over 1 year

-29.72%

-7.90%

-21.82%

Max Drawdown (3Y)

Largest decline over 3 years

-30.48%

-15.58%

-14.90%

Max Drawdown (5Y)

Largest decline over 5 years

-30.48%

-21.47%

-9.01%

Max Drawdown (10Y)

Largest decline over 10 years

-34.35%

-34.38%

+0.03%

Current Drawdown

Current decline from peak

-25.81%

-1.03%

-24.78%

Average Drawdown

Average peak-to-trough decline

-35.70%

-4.13%

-31.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.33%

1.83%

+11.50%

Volatility

NLR vs. SPXT - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 13.73% compared to ProShares S&P 500 Ex-Technology ETF (SPXT) at 3.19%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than SPXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NLRSPXTDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.73%

3.19%

+10.54%

Volatility (6M)

Calculated over the trailing 6-month period

33.75%

7.74%

+26.01%

Volatility (1Y)

Calculated over the trailing 1-year period

42.85%

10.48%

+32.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.56%

14.74%

+14.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.22%

16.24%

+7.98%

NLR vs. SPXT - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is higher than SPXT's 0.09% expense ratio.

Dividends

NLR vs. SPXT - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.60%, more than SPXT's 1.37% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SPXT
ProShares S&P 500 Ex-Technology ETF		1.37%1.38%1.29%1.53%1.86%1.15%1.63%1.63%2.03%1.55%2.67%0.56%

Frequently Asked Questions

NLR and SPXT have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NLR has higher volatility (13.73%) compared to SPXT (3.19%). In terms of maximum drawdown, NLR dropped -65.05% vs SPXT's -34.38%.

On 10-year performance, NLR leads with 12.80% vs 11.43% for SPXT. On fees, SPXT is cheaper at 0.09% per year. On volatility, SPXT has been the lower-risk option at 3.19%. 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 12.80% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPXT is cheaper with a 0.09% expense ratio, compared with 0.56% for NLR.

NLR has the higher dividend yield at 2.60%, compared with 1.37% for SPXT.

NLR is categorized as Alternative Energy Equities, while SPXT is S&P 500. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while SPXT tracks S&P 500 Ex-Information Technology Index. They also come from different issuers: VanEck and ProShares. Their fees differ too: 0.56% for NLR and 0.09% for SPXT.

SPXT currently has the higher Sharpe Ratio (1.52 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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