NLR vs. URAA

Last updated Jun 25, 2026

NLR (VanEck Uranium and Nuclear ETF) and URAA (Direxion Daily Uranium Industry Bull 2X Shares) are both Uranium funds - NLR tracks the MVIS Global Uranium & Nuclear Energy Index while URAA tracks the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%). Both are passively managed. Over the past year, NLR returned 10.28% vs 3.70% for URAA. With a 0.96 correlation, they move nearly in lockstep. NLR charges 0.56%/yr vs 1.28%/yr for URAA.

Performance

NLR vs. URAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and Direxion Daily Uranium Industry Bull 2X Shares (URAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NLR achieves a -3.82% return, which is significantly higher than URAA's -12.92% return.

NLR

• 1D: -2.41%
• 1M: -8.71%
• YTD: -3.82%
• 6M: -7.14%
• 1Y: 10.28%
• 3Y*: 30.47%
• 5Y*: 20.31%
• 10Y*: 12.70%

URAA

• 1D: -3.69%
• 1M: -18.36%
• YTD: -12.92%
• 6M: -20.09%
• 1Y: 3.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NLR vs. URAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NLR VanEck Uranium and Nuclear ETF	-3.82%	56.50%	1.18%
URAA Direxion Daily Uranium Industry Bull 2X Shares	-12.92%	88.33%	-25.73%

Correlation

The correlation between NLR and URAA is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	0.96

The correlation between NLR and URAA has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

NLR vs. URAA - Sectors Allocation Comparison

Sectors	NLR	URAA
Energy	45.3%	62.5%
Utilities	38.1%	16.6%
Industrials	15.1%	17.0%
Technology	1.6%	1.0%
Basic Materials	-	2.9%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

NLR vs. URAA — Risk / Return Rank

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

NLR

NLR Risk / Return Rank: 13
NLR Sharpe Ratio Rank: 12
NLR Sortino Ratio Rank: 14
NLR Omega Ratio Rank: 13
NLR Calmar Ratio Rank: 13
NLR Martin Ratio Rank: 12

URAA

URAA Risk / Return Rank: 12
URAA Sharpe Ratio Rank: 10
URAA Sortino Ratio Rank: 16
URAA Omega Ratio Rank: 15
URAA Calmar Ratio Rank: 10
URAA Martin Ratio Rank: 10

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. URAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Direxion Daily Uranium Industry Bull 2X Shares (URAA). 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	URAA	Difference
Sharpe ratio: Return per unit of total volatility	0.24	0.04	+0.20
Sortino ratio: Return per unit of downside risk	0.64	0.76	-0.12
Omega ratio: Gain probability vs. loss probability	1.07	1.09	-0.01
Calmar ratio: Return relative to maximum drawdown	0.35	0.06	+0.29
Martin ratio: Return relative to average drawdown	0.74	0.12	+0.62

NLR vs. URAA - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.24, which is higher than the URAA Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of NLR and URAA, 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. URAA - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, roughly equal to the maximum URAA drawdown of -67.45%. Use the drawdown chart below to compare losses from any high point for NLR and URAA.

Drawdown Indicators

	NLR	URAA	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	-67.45%	+2.40%
Max Drawdown (1Y) Largest decline over 1 year	-29.72%	-59.83%	+30.11%
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	-27.33%	-56.15%	+28.82%
Average Drawdown Average peak-to-trough decline	-35.68%	-27.94%	-7.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.94%	29.81%	-15.87%

Volatility

NLR vs. URAA - Volatility Comparison

The current volatility for VanEck Uranium and Nuclear ETF (NLR) is 13.71%, while Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a volatility of 32.03%. This indicates that NLR experiences smaller price fluctuations and is considered to be less risky than URAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLR	URAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.71%	32.03%	-18.32%
Volatility (6M) Calculated over the trailing 6-month period	32.79%	73.99%	-41.20%
Volatility (1Y) Calculated over the trailing 1-year period	42.87%	95.74%	-52.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.65%	89.56%	-59.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	89.56%	-65.29%

NLR vs. URAA - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is lower than URAA's 1.28% expense ratio.

Dividends

NLR vs. URAA - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.65%, less than URAA's 11.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLR VanEck Uranium and Nuclear ETF	2.65%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
URAA Direxion Daily Uranium Industry Bull 2X Shares	11.57%	9.14%	4.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NLR and URAA in my portfolio?

With a correlation of 0.99, NLR and URAA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NLR or URAA?

URAA has higher volatility (32.03%) compared to NLR (13.71%). In terms of maximum drawdown, NLR dropped -65.05% vs URAA's -67.45%.

Which ETF is better, NLR or URAA?

On 1-year performance, NLR leads with 10.28% vs 3.70% for URAA. On fees, NLR is cheaper at 0.56% per year. On volatility, NLR has been the lower-risk option at 13.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NLR or URAA?

Over the 1-year period, NLR has performed better with a 10.28% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NLR or URAA?

NLR is cheaper with a 0.56% expense ratio, compared with 1.28% for URAA.

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

URAA has the higher dividend yield at 11.57%, compared with 2.65% for NLR.

What is the main difference between NLR and URAA?

NLR tracks MVIS Global Uranium & Nuclear Energy Index, while URAA tracks Solactive United States Uranium and Nuclear Energy ETF Select Index (200%). They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.56% for NLR and 1.28% for URAA.

Which has better risk-adjusted returns?

NLR currently has the higher Sharpe Ratio (0.24 vs 0.04), 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.