NLR vs. VDE

Last updated Aug 6, 2026

NLR (VanEck Uranium and Nuclear ETF) and VDE (Vanguard Energy ETF) are both exchange-traded funds - NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index, while VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. Both are passively managed. Over the past 10 years, NLR returned 11.82%/yr vs 9.35%/yr for VDE. Their 0.48 correlation means their historical movements had little consistent relationship. NLR charges 0.56%/yr vs 0.09%/yr for VDE.

Performance

NLR vs. VDE - Performance Comparison

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

Returns By Period

In the year-to-date period, NLR achieves a -8.31% return, which is significantly lower than VDE's 29.92% return. Over the past 10 years, NLR has outperformed VDE with an annualized return of 11.82%, while VDE has yielded a comparatively lower 9.35% annualized return.

NLR

• 1D: 0.00%
• 1M: -2.26%
• 6M: -19.81%
• YTD: -8.31%
• 1Y: -2.31%
• 3Y*: 26.47%
• 5Y*: 19.64%
• 10Y*: 11.82%
• ALL TIME*: 3.63%

VDE

• 1D: -2.23%
• 1M: 7.61%
• 6M: 10.24%
• YTD: 29.92%
• 1Y: 38.29%
• 3Y*: 13.33%
• 5Y*: 22.68%
• 10Y*: 9.35%
• ALL TIME*: 8.13%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NLR VanEck Uranium and Nuclear ETF	$38.69M	$46.94M	$58.37M
VDE Vanguard Energy ETF	$80.86M	$75.68M	$107.12M

NLR vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NLR VanEck Uranium and Nuclear ETF	-8.31%	56.50%	14.26%	36.67%	2.29%	13.63%	3.49%	0.20%	4.94%	8.25%
VDE Vanguard Energy ETF	29.92%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between NLR and VDE is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (3Y) Balances recent behavior with more history.	0.17
Correlation (5Y) Shows whether the relationship held over a longer period.	0.29
Correlation (10Y) Provides a long-term view across more market conditions.	0.31
Correlation (All Time) Calculated using the full available price history since Aug 15, 2007	0.48

The correlation between NLR and VDE shifts across timeframes, from -0.04 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

NLR vs. VDE - Sectors Allocation Comparison

Sectors	NLR	VDE
Energy	49.8%	76.9%
Utilities	36.0%	0.1%
Industrials	12.6%	0.3%
Basic Materials	2.3%	0.4%
Technology	1.6%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

NLR vs. VDE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NLR

NLR Risk / Return Rank: 10
NLR Sharpe Ratio Rank: 9
NLR Sortino Ratio Rank: 11
NLR Omega Ratio Rank: 11
NLR Calmar Ratio Rank: 9
NLR Martin Ratio Rank: 9

VDE

VDE Risk / Return Rank: 61
VDE Sharpe Ratio Rank: 70
VDE Sortino Ratio Rank: 63
VDE Omega Ratio Rank: 60
VDE Calmar Ratio Rank: 64
VDE Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NLR vs. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Vanguard Energy ETF (VDE). 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	VDE	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.83	-1.88
Sortino ratio: Return per unit of downside risk	0.24	2.39	-2.15
Omega ratio: Gain probability vs. loss probability	1.03	1.30	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.06	2.56	-2.62
Martin ratio: Return relative to average drawdown	-0.13	6.84	-6.97

NLR vs. VDE - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is -0.05, which is lower than the VDE Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of NLR and VDE, 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. VDE - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, smaller than the maximum VDE drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for NLR and VDE.

Drawdown Indicators

	NLR	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	-74.20%	+9.15%
Max Drawdown (1Y) Largest decline over 1 year	-37.52%	-15.04%	-22.48%
Max Drawdown (3Y) Largest decline over 3 years	-37.52%	-21.41%	-16.11%
Max Drawdown (5Y) Largest decline over 5 years	-37.52%	-26.58%	-10.94%
Max Drawdown (10Y) Largest decline over 10 years	-37.52%	-69.29%	+31.77%
Current Drawdown Current decline from peak	-30.72%	-8.08%	-22.64%
Average Drawdown Average peak-to-trough decline	-35.66%	-19.88%	-15.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.75%	5.61%	+12.14%

Volatility

NLR vs. VDE - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 12.81% compared to Vanguard Energy ETF (VDE) at 6.35%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLR	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.81%	6.35%	+6.46%
Volatility (6M) Calculated over the trailing 6-month period	31.78%	16.50%	+15.28%
Volatility (1Y) Calculated over the trailing 1-year period	43.83%	21.02%	+22.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.21%	26.13%	+4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.63%	29.91%	-5.28%

NLR vs. VDE - Expense Ratio Comparison

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

Dividends

NLR vs. VDE - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.78%, more than VDE's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLR VanEck Uranium and Nuclear ETF	2.78%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
VDE Vanguard Energy ETF	2.49%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both NLR and VDE in my portfolio?

NLR and VDE have a correlation of -0.04, 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 VDE?

NLR has higher volatility (12.81%) compared to VDE (6.35%). In terms of maximum drawdown, NLR dropped -65.05% vs VDE's -74.20%.

Which ETF is better, NLR or VDE?

On 10-year performance, NLR leads with 11.82% vs 9.35% for VDE. On fees, VDE is cheaper at 0.09% per year. On volatility, VDE has been the lower-risk option at 6.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NLR or VDE?

Over the 10-year period, NLR has performed better with a 11.82% return vs 9.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NLR or VDE?

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

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

NLR has the higher dividend yield at 2.78%, compared with 2.49% for VDE.

What is the main difference between NLR and VDE?

NLR is categorized as Uranium, while VDE is Energy Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while VDE tracks MSCI US Investable Market Energy 25/50 Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.56% for NLR and 0.09% for VDE.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (1.83 vs -0.05), 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.