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NLR vs. VSS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NLR vs. VSS

Last updated Jun 14, 2026

NLR (VanEck Uranium and Nuclear ETF) and VSS (Vanguard FTSE All-World ex-US Small-Cap ETF) are both exchange-traded funds - NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while VSS is a Foreign Small & Mid Cap Equities fund tracking the FTSE Global Small Cap ex US Index. Both are passively managed. Over the past 10 years, NLR returned 12.80%/yr vs 8.49%/yr for VSS. A 0.64 correlation means they provide meaningful diversification when combined. NLR charges 0.56%/yr vs 0.07%/yr for VSS.

Performance

NLR vs. VSS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). 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 VSS's 10.04% return. Over the past 10 years, NLR has outperformed VSS with an annualized return of 12.80%, while VSS has yielded a comparatively lower 8.49% annualized return.

NLR

1D
0.84%
1M
-9.40%
YTD
-1.81%
6M
-3.70%
1Y
19.00%
3Y*
29.88%
5Y*
19.78%
10Y*
12.80%

VSS

1D
0.50%
1M
-2.16%
YTD
10.04%
6M
12.05%
1Y
24.95%
3Y*
15.73%
5Y*
5.58%
10Y*
8.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NLR vs. VSS - 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%
VSS
Vanguard FTSE All-World ex-US Small-Cap ETF		10.04%29.61%2.94%15.52%-21.48%13.05%11.81%21.36%-18.48%30.61%

Correlation

The correlation between NLR and VSS is 0.56, 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

0.56

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

0.56

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

0.61

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

0.56

Correlation (All Time)
Calculated using the full available price history since Apr 6, 2009

0.64

The correlation between NLR and VSS has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.

NLR vs. VSS - Sectors Allocation Comparison

Sectors
NLR
VSS

Energy

45.3%
8.4%

Utilities

38.1%
3.6%

Industrials

15.1%
19.9%

Technology

1.6%
13.9%

Basic Materials

-

16.0%

Communication Services

-

2.0%

Consumer Cyclical

-

7.3%

Consumer Defensive

-

2.7%

Financial Services

-

14.2%

Healthcare

-

4.3%

Real Estate

-

7.2%

Energy

NLR
45.3%
VSS
8.4%

Utilities

NLR
38.1%
VSS
3.6%

Industrials

NLR
15.1%
VSS
19.9%

Technology

NLR
1.6%
VSS
13.9%

Basic Materials

NLR

-

VSS
16.0%

Communication Services

NLR

-

VSS
2.0%

Consumer Cyclical

NLR

-

VSS
7.3%

Consumer Defensive

NLR

-

VSS
2.7%

Financial Services

NLR

-

VSS
14.2%

Healthcare

NLR

-

VSS
4.3%

Real Estate

NLR

-

VSS
7.2%

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

Vanguard FTSE All-World ex-US Small-Cap ETF

Often compared with NLR:
NLR vs. URANLR vs. NUKZNLR vs. URNMNLR vs. OKLONLR vs. GRIDNLR vs. URANNLR vs. SMH
Often compared with VSS:
VSS vs. AVDVVSS vs. VEUVSS vs. VXUSVSS vs. SCHCVSS vs. SCZVSS vs. VWOVSS vs. VOO

Return for Risk

NLR vs. VSS — 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
VSS
VSS Risk / Return Rank: 4949
Overall Rank
VSS Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VSS Sortino Ratio Rank: 4848
Sortino Ratio Rank
VSS Omega Ratio Rank: 5151
Omega Ratio Rank
VSS Calmar Ratio Rank: 4646
Calmar Ratio Rank
VSS Martin Ratio Rank: 5151
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. VSS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). 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.

NLRVSSDifference
Sharpe ratioReturn per unit of total volatility
0.44
1.51

-1.07

Sortino ratioReturn per unit of downside risk
0.90
2.10

-1.20

Omega ratioGain probability vs. loss probability

1.10

1.28

-0.18

Calmar ratioReturn relative to maximum drawdown

0.63

2.03

-1.39

Martin ratioReturn relative to average drawdown

1.41

7.61

-6.20

NLR vs. VSS - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.44, which is lower than the VSS Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of NLR and VSS, 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. VSS - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than VSS's maximum drawdown of -43.51%. Use the drawdown chart below to compare losses from any high point for NLR and VSS.

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Drawdown Indicators

NLRVSSDifference

Max Drawdown

Largest peak-to-trough decline

-65.05%

-43.51%

-21.54%

Max Drawdown (1Y)

Largest decline over 1 year

-29.72%

-11.62%

-18.10%

Max Drawdown (3Y)

Largest decline over 3 years

-30.48%

-15.73%

-14.75%

Max Drawdown (5Y)

Largest decline over 5 years

-30.48%

-33.93%

+3.45%

Max Drawdown (10Y)

Largest decline over 10 years

-34.35%

-43.51%

+9.16%

Current Drawdown

Current decline from peak

-25.81%

-3.05%

-22.76%

Average Drawdown

Average peak-to-trough decline

-35.70%

-9.63%

-26.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.33%

3.09%

+10.24%

Volatility

NLR vs. VSS - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 13.73% compared to Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) at 6.52%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than VSS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NLRVSSDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.73%

6.52%

+7.21%

Volatility (6M)

Calculated over the trailing 6-month period

33.75%

13.55%

+20.20%

Volatility (1Y)

Calculated over the trailing 1-year period

42.85%

15.60%

+27.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.56%

16.59%

+12.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.22%

17.30%

+6.92%

NLR vs. VSS - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is higher than VSS's 0.07% expense ratio.

Dividends

NLR vs. VSS - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.60%, less than VSS's 3.08% 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%
VSS
Vanguard FTSE All-World ex-US Small-Cap ETF		3.08%3.39%3.44%3.14%2.30%2.74%1.90%3.25%2.80%2.83%2.93%2.66%

Frequently Asked Questions

NLR and VSS have a correlation of 0.56, 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 VSS (6.52%). In terms of maximum drawdown, NLR dropped -65.05% vs VSS's -43.51%.

On 10-year performance, NLR leads with 12.80% vs 8.49% for VSS. On fees, VSS is cheaper at 0.07% per year. On volatility, VSS has been the lower-risk option at 6.52%. 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 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VSS is cheaper with a 0.07% expense ratio, compared with 0.56% for NLR.

VSS has the higher dividend yield at 3.08%, compared with 2.60% for NLR.

NLR is categorized as Alternative Energy Equities, while VSS is Foreign Small & Mid Cap Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while VSS tracks FTSE Global Small Cap ex US Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.56% for NLR and 0.07% for VSS.

VSS currently has the higher Sharpe Ratio (1.51 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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