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NLR vs. VWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NLR vs. VWO

Last updated Jun 12, 2026

NLR (VanEck Uranium and Nuclear ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both exchange-traded funds - NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Both are passively managed. Over the past 10 years, NLR returned 12.59%/yr vs 8.88%/yr for VWO. A 0.58 correlation means they provide meaningful diversification when combined. NLR charges 0.56%/yr vs 0.08%/yr for VWO.

Performance

NLR vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) and Vanguard FTSE Emerging Markets ETF (VWO). 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 -2.62% return, which is significantly lower than VWO's 9.93% return. Over the past 10 years, NLR has outperformed VWO with an annualized return of 12.59%, while VWO has yielded a comparatively lower 8.88% annualized return.

NLR

1D
4.69%
1M
-13.55%
YTD
-2.62%
6M
-10.27%
1Y
17.88%
3Y*
29.43%
5Y*
19.58%
10Y*
12.59%

VWO

1D
2.39%
1M
-0.49%
YTD
9.93%
6M
10.69%
1Y
23.70%
3Y*
16.63%
5Y*
4.87%
10Y*
8.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NLR vs. VWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NLR
VanEck Uranium and Nuclear ETF		-2.62%56.50%14.26%36.67%2.29%13.63%3.49%0.20%4.94%8.25%
VWO
Vanguard FTSE Emerging Markets ETF		9.93%25.60%10.59%9.25%-17.98%1.26%15.17%20.75%-14.76%31.49%

Correlation

The correlation between NLR and VWO is 0.53, 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

0.53

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

0.51

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

0.53

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

0.46

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2007

0.58

The correlation between NLR and VWO shifts across timeframes, from 0.46 (10 years) to 0.58 (all time), reflecting how their relationship changes across market environments.

NLR vs. VWO - Sectors Allocation Comparison

Sectors
NLR
VWO

Energy

46.0%
4.6%

Utilities

37.4%
2.9%

Industrials

15.1%
8.0%

Technology

1.5%
29.6%

Basic Materials

-

8.0%

Communication Services

-

7.1%

Consumer Cyclical

-

10.7%

Consumer Defensive

-

3.7%

Financial Services

-

19.5%

Healthcare

-

3.9%

Real Estate

-

2.2%

Energy

NLR
46.0%
VWO
4.6%

Utilities

NLR
37.4%
VWO
2.9%

Industrials

NLR
15.1%
VWO
8.0%

Technology

NLR
1.5%
VWO
29.6%

Basic Materials

NLR

-

VWO
8.0%

Communication Services

NLR

-

VWO
7.1%

Consumer Cyclical

NLR

-

VWO
10.7%

Consumer Defensive

NLR

-

VWO
3.7%

Financial Services

NLR

-

VWO
19.5%

Healthcare

NLR

-

VWO
3.9%

Real Estate

NLR

-

VWO
2.2%

Compare stocks, funds, or ETFs

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VanEck Uranium and Nuclear ETF

Vanguard FTSE Emerging Markets ETF

Often compared with NLR:
NLR vs. URANLR vs. NUKZNLR vs. URNMNLR vs. OKLONLR vs. GRIDNLR vs. URANNLR vs. SMH
Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX

Return for Risk

NLR vs. VWO — 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: 1818
Sharpe Ratio Rank
NLR Sortino Ratio Rank: 2020
Sortino Ratio Rank
NLR Omega Ratio Rank: 1919
Omega Ratio Rank
NLR Calmar Ratio Rank: 1919
Calmar Ratio Rank
NLR Martin Ratio Rank: 1717
Martin Ratio Rank
VWO
VWO Risk / Return Rank: 5252
Overall Rank
VWO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 4949
Sortino Ratio Rank
VWO Omega Ratio Rank: 5252
Omega Ratio Rank
VWO Calmar Ratio Rank: 5252
Calmar Ratio Rank
VWO Martin Ratio Rank: 5353
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. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) and Vanguard FTSE Emerging Markets ETF (VWO). 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.

NLRVWODifference
Sharpe ratioReturn per unit of total volatility
0.42
1.44

-1.02

Sortino ratioReturn per unit of downside risk
0.87
2.03

-1.16

Omega ratioGain probability vs. loss probability

1.10

1.27

-0.17

Calmar ratioReturn relative to maximum drawdown

0.60

2.13

-1.53

Martin ratioReturn relative to average drawdown

1.36

7.51

-6.15

NLR vs. VWO - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.42, which is lower than the VWO Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of NLR and VWO, 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. VWO - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, roughly equal to the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for NLR and VWO.

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Drawdown Indicators

NLRVWODifference

Max Drawdown

Largest peak-to-trough decline

-65.05%

-67.68%

+2.63%

Max Drawdown (1Y)

Largest decline over 1 year

-29.72%

-11.17%

-18.55%

Max Drawdown (3Y)

Largest decline over 3 years

-30.48%

-17.37%

-13.11%

Max Drawdown (5Y)

Largest decline over 5 years

-30.48%

-32.60%

+2.12%

Max Drawdown (10Y)

Largest decline over 10 years

-34.35%

-36.39%

+2.04%

Current Drawdown

Current decline from peak

-26.42%

-3.42%

-23.00%

Average Drawdown

Average peak-to-trough decline

-35.70%

-15.81%

-19.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.23%

3.16%

+10.07%

Volatility

NLR vs. VWO - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 13.79% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 6.66%. This indicates that NLR's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NLRVWODifference

Volatility (1M)

Calculated over the trailing 1-month period

13.79%

6.66%

+7.13%

Volatility (6M)

Calculated over the trailing 6-month period

33.75%

14.04%

+19.71%

Volatility (1Y)

Calculated over the trailing 1-year period

43.23%

16.53%

+26.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.57%

17.48%

+12.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.22%

19.23%

+4.99%

NLR vs. VWO - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

NLR vs. VWO - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.62%, more than VWO's 2.45% yield.

PositionTTM20252024202320222021202020192018201720162015
NLR
VanEck Uranium and Nuclear ETF		2.62%2.55%0.76%4.54%2.02%1.99%2.23%2.21%3.91%4.86%3.62%3.30%
VWO
Vanguard FTSE Emerging Markets ETF		2.45%2.79%3.20%3.52%4.11%2.63%1.91%3.23%2.88%2.30%2.52%3.26%

Frequently Asked Questions

NLR and VWO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NLR has higher volatility (13.79%) compared to VWO (6.66%). In terms of maximum drawdown, NLR dropped -65.05% vs VWO's -67.68%.

On 10-year performance, NLR leads with 12.59% vs 8.88% for VWO. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 6.66%. 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 12.59% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VWO is cheaper with a 0.08% expense ratio, compared with 0.56% for NLR.

NLR has the higher dividend yield at 2.62%, compared with 2.45% for VWO.

NLR is categorized as Alternative Energy Equities, while VWO is Emerging Markets Equities. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while VWO tracks FTSE Emerging Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.56% for NLR and 0.08% for VWO.

VWO currently has the higher Sharpe Ratio (1.44 vs 0.42), 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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