QBTS vs. NLR
QBTS (D-Wave Quantum Inc) is a stock, while NLR (VanEck Uranium and Nuclear ETF) is Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index. Over the past 3 years, QBTS returned 123.62%/yr vs 29.88%/yr for NLR. At a 0.33 correlation, their price movements are largely independent.
Performance
QBTS vs. NLR - Performance Comparison
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Returns By Period
In the year-to-date period, QBTS achieves a -10.63% return, which is significantly lower than NLR's -1.81% return.
QBTS
- 1D
- -1.89%
- 1M
- 9.00%
- YTD
- -10.63%
- 6M
- -10.46%
- 1Y
- 47.17%
- 3Y*
- 123.62%
- 5Y*
- —
- 10Y*
- —
NLR
- 1D
- 0.84%
- 1M
- -10.59%
- YTD
- -1.81%
- 6M
- -3.70%
- 1Y
- 18.72%
- 3Y*
- 29.88%
- 5Y*
- 19.78%
- 10Y*
- 12.80%
QBTS vs. NLR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
QBTS D-Wave Quantum Inc | -10.63% | 211.31% | 854.44% | -38.88% | -83.96% |
NLR VanEck Uranium and Nuclear ETF | -1.81% | 56.50% | 14.26% | 36.67% | 1.22% |
Correlation
The correlation between QBTS and NLR is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022 | 0.33 |
Over the past year, QBTS and NLR have become more correlated (0.62) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
QBTS vs. NLR — Risk / Return Rank
QBTS
NLR
QBTS vs. NLR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for D-Wave Quantum Inc (QBTS) and VanEck Uranium and Nuclear 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.
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.
| QBTS | NLR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.10 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 0.63 | +0.03 |
| Martin ratioReturn relative to average drawdown | 1.16 | 1.41 | -0.24 |
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Drawdowns
QBTS vs. NLR - Drawdown Comparison
The maximum QBTS drawdown since its inception was -96.67%, which is greater than NLR's maximum drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for QBTS and NLR.
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Drawdown Indicators
| QBTS | NLR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.67% | -65.05% | -31.62% |
Max Drawdown (1Y)Largest decline over 1 year | -71.01% | -29.72% | -41.29% |
Max Drawdown (3Y)Largest decline over 3 years | -79.17% | -30.48% | -48.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.35% | — |
Current DrawdownCurrent decline from peak | -47.81% | -25.81% | -22.00% |
Average DrawdownAverage peak-to-trough decline | -65.66% | -35.70% | -29.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.64% | 13.33% | +27.31% |
Volatility
QBTS vs. NLR - Volatility Comparison
D-Wave Quantum Inc (QBTS) has a higher volatility of 42.66% compared to VanEck Uranium and Nuclear ETF (NLR) at 13.73%. This indicates that QBTS's price experiences larger fluctuations and is considered to be riskier than NLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QBTS | NLR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 42.66% | 13.73% | +28.93% |
Volatility (6M)Calculated over the trailing 6-month period | 76.89% | 33.75% | +43.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 108.46% | 42.85% | +65.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 150.99% | 29.56% | +121.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 150.99% | 24.22% | +126.77% |
Dividends
QBTS vs. NLR - Dividend Comparison
QBTS has not paid dividends to shareholders, while NLR's dividend yield for the trailing twelve months is around 2.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QBTS D-Wave Quantum Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QBTS and NLR have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QBTS has higher volatility (42.66%) compared to NLR (13.73%). In terms of maximum drawdown, QBTS dropped -96.67% vs NLR's -65.05%.
NLR currently has the higher Sharpe Ratio (0.44 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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