PWER vs. NLR

Last updated Jun 4, 2026

PWER (Macquarie Energy Transition ETF) and NLR (VanEck Vectors Uranium+Nuclear Energy ETF) are both Alternative Energy Equities funds. PWER is actively managed, while NLR is passively managed. Over the past year, PWER returned 70.78% vs 36.84% for NLR. A 0.58 correlation means they provide meaningful diversification when combined. PWER charges 0.80%/yr vs 0.60%/yr for NLR.

Performance

PWER vs. NLR - Performance Comparison

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

Returns By Period

In the year-to-date period, PWER achieves a 31.35% return, which is significantly higher than NLR's 6.14% return.

PWER

• 1D: -1.00%
• 1M: 7.47%
• YTD: 31.35%
• 6M: 32.81%
• 1Y: 70.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NLR

• 1D: -4.59%
• 1M: -8.11%
• YTD: 6.14%
• 6M: 1.51%
• 1Y: 36.84%
• 3Y*: 35.11%
• 5Y*: 21.94%
• 10Y*: 13.66%

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

PWER vs. NLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PWER Macquarie Energy Transition ETF	31.35%	35.28%	-3.50%	9.72%
NLR VanEck Vectors Uranium+Nuclear Energy ETF	6.14%	56.50%	14.26%	3.33%

Correlation

The correlation between PWER and NLR 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 (All Time) Calculated using the full available price history since Nov 30, 2023	0.58

The correlation between PWER and NLR has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.

PWER vs. NLR - Sectors Allocation Comparison

Sectors	PWER	NLR
Energy	41.1%	46.0%
Basic Materials	41.0%	-
Industrials	12.2%	15.1%
Technology	3.8%	1.5%
Utilities	1.9%	37.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

PWER vs. NLR — Risk / Return Rank

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

PWER

PWER Risk / Return Rank: 93
PWER Sharpe Ratio Rank: 94
PWER Sortino Ratio Rank: 92
PWER Omega Ratio Rank: 90
PWER Calmar Ratio Rank: 95
PWER Martin Ratio Rank: 95

NLR

NLR Risk / Return Rank: 25
NLR Sharpe Ratio Rank: 24
NLR Sortino Ratio Rank: 26
NLR Omega Ratio Rank: 24
NLR Calmar Ratio Rank: 29
NLR Martin Ratio Rank: 22

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.

PWER vs. NLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macquarie Energy Transition ETF (PWER) and VanEck Vectors Uranium+Nuclear Energy ETF (NLR). 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.

	PWER	NLR	Difference
Sharpe ratio Return per unit of total volatility	3.61	0.88	+2.74
Sortino ratio Return per unit of downside risk	4.45	1.43	+3.01
Omega ratio Gain probability vs. loss probability	1.59	1.17	+0.42
Calmar ratio Return relative to maximum drawdown	7.85	1.43	+6.41
Martin ratio Return relative to average drawdown	32.42	2.93	+29.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWER vs. NLR - Sharpe Ratio Comparison

The current PWER Sharpe Ratio is 3.61, which is higher than the NLR Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of PWER and NLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PWER	NLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.61	0.88	+2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	0.18	+1.06

Drawdowns

PWER vs. NLR - Drawdown Comparison

The maximum PWER drawdown since its inception was -29.68%, smaller than the maximum NLR drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for PWER and NLR.

Drawdown Indicators

	PWER	NLR	Difference
Max Drawdown Largest peak-to-trough decline	-29.68%	-65.05%	+35.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.07%	-25.80%	+16.73%
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	-1.00%	-19.80%	+18.80%
Average Drawdown Average peak-to-trough decline	-6.22%	-35.72%	+29.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	12.61%	-10.42%

Volatility

PWER vs. NLR - Volatility Comparison

The current volatility for Macquarie Energy Transition ETF (PWER) is 6.20%, while VanEck Vectors Uranium+Nuclear Energy ETF (NLR) has a volatility of 13.18%. This indicates that PWER experiences smaller price fluctuations and is considered to be less risky than NLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWER	NLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	13.18%	-6.98%
Volatility (6M) Calculated over the trailing 6-month period	15.55%	32.83%	-17.28%
Volatility (1Y) Calculated over the trailing 1-year period	19.74%	42.32%	-22.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.37%	29.24%	-5.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.37%	24.02%	-0.65%

PWER vs. NLR - Expense Ratio Comparison

PWER has a 0.80% expense ratio, which is higher than NLR's 0.60% expense ratio.

Dividends

PWER vs. NLR - Dividend Comparison

PWER's dividend yield for the trailing twelve months is around 1.05%, less than NLR's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLR VanEck Vectors Uranium+Nuclear Energy ETF	2.40%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
PWER Macquarie Energy Transition ETF	1.05%	1.37%	1.05%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PWER and NLR in my portfolio?

PWER and NLR 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.

Which is riskier, PWER or NLR?

NLR has higher volatility (13.18%) compared to PWER (6.20%). In terms of maximum drawdown, PWER dropped -29.68% vs NLR's -65.05%.

Which ETF is better, PWER or NLR?

On 1-year performance, PWER leads with 70.78% vs 36.84% for NLR. On fees, NLR is cheaper at 0.60% per year. On volatility, PWER has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWER or NLR?

Over the 1-year period, PWER has performed better with a 70.78% return vs 36.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWER or NLR?

NLR is cheaper with a 0.60% expense ratio, compared with 0.80% for PWER.

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

NLR has the higher dividend yield at 2.40%, compared with 1.05% for PWER.

What is the main difference between PWER and NLR?

They also come from different issuers: Macquarie and VanEck. Their fees differ too: 0.80% for PWER and 0.60% for NLR.

Which has better risk-adjusted returns?

PWER currently has the higher Sharpe Ratio (3.61 vs 0.88), 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.