URAA vs. NLR

Last updated Aug 2, 2026

URAA (Direxion Daily Uranium Industry Bull 2X Shares) and NLR (VanEck Uranium and Nuclear ETF) are both Uranium funds - URAA tracks the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%) while NLR tracks the MVIS Global Uranium & Nuclear Energy Index. Both are passively managed. Over the past year, URAA returned -17.19% vs -2.28% for NLR. Their 0.96 correlation means they have historically moved very closely together. URAA charges 1.28%/yr vs 0.56%/yr for NLR.

Performance

URAA vs. NLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Uranium Industry Bull 2X Shares (URAA) and VanEck Uranium and Nuclear ETF (NLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URAA achieves a -33.35% return, which is significantly lower than NLR's -13.99% return.

URAA

• 1D: -2.37%
• 1M: -17.06%
• 6M: -57.33%
• YTD: -33.35%
• 1Y: -17.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.29%

NLR

• 1D: -1.41%
• 1M: -7.05%
• 6M: -28.16%
• YTD: -13.99%
• 1Y: -2.28%
• 3Y*: 23.67%
• 5Y*: 18.29%
• 10Y*: 11.00%
• ALL TIME*: 3.29%

*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	$43.05M	$48.38M	$60.74M
URAA Direxion Daily Uranium Industry Bull 2X Shares	$1.05M	$1.23M	$2.40M

URAA vs. NLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAA Direxion Daily Uranium Industry Bull 2X Shares	-33.35%	88.33%	-25.73%
NLR VanEck Uranium and Nuclear ETF	-13.99%	56.50%	1.18%

Correlation

The correlation between URAA and NLR is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	0.96

The correlation between URAA and NLR has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

URAA vs. NLR - Sectors Allocation Comparison

Sectors	URAA	NLR
Energy	64.2%	49.8%
Industrials	17.8%	12.6%
Utilities	14.2%	36.0%
Basic Materials	2.8%	2.3%
Technology	1.1%	1.6%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

URAA vs. NLR — Risk / Return Rank

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

URAA

URAA Risk / Return Rank: 10
URAA Sharpe Ratio Rank: 8
URAA Sortino Ratio Rank: 14
URAA Omega Ratio Rank: 14
URAA Calmar Ratio Rank: 7
URAA Martin Ratio Rank: 7

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

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.

URAA vs. NLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Uranium Industry Bull 2X Shares (URAA) 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.

	URAA	NLR	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	-0.10	-0.11
Sortino ratio: Return per unit of downside risk	0.37	0.16	+0.21
Omega ratio: Gain probability vs. loss probability	1.04	1.02	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.30	-0.12	-0.18
Martin ratio: Return relative to average drawdown	-0.57	-0.26	-0.32

URAA vs. NLR - Sharpe Ratio Comparison

The current URAA Sharpe Ratio is -0.21, which is lower than the NLR Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of URAA 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.

Drawdowns

URAA vs. NLR - Drawdown Comparison

The maximum URAA drawdown since its inception was -69.08%, which is greater than NLR's maximum drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for URAA and NLR.

Drawdown Indicators

	URAA	NLR	Difference
Max Drawdown Largest peak-to-trough decline	-69.08%	-65.05%	-4.03%
Max Drawdown (1Y) Largest decline over 1 year	-69.08%	-37.52%	-31.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.52%	—
Current Drawdown Current decline from peak	-66.44%	-35.01%	-31.43%
Average Drawdown Average peak-to-trough decline	-29.67%	-35.67%	+6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.84%	17.42%	+18.42%

Volatility

URAA vs. NLR - Volatility Comparison

Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a higher volatility of 26.55% compared to VanEck Uranium and Nuclear ETF (NLR) at 12.90%. This indicates that URAA'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.

Volatility by Period

	URAA	NLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.55%	12.90%	+13.65%
Volatility (6M) Calculated over the trailing 6-month period	72.01%	32.42%	+39.59%
Volatility (1Y) Calculated over the trailing 1-year period	97.72%	43.80%	+53.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.21%	30.13%	+59.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.21%	24.58%	+64.63%

URAA vs. NLR - Expense Ratio Comparison

URAA has a 1.28% expense ratio, which is higher than NLR's 0.56% expense ratio.

Dividends

URAA vs. NLR - Dividend Comparison

URAA's dividend yield for the trailing twelve months is around 15.12%, more than NLR's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLR VanEck Uranium and Nuclear ETF	2.96%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
URAA Direxion Daily Uranium Industry Bull 2X Shares	15.12%	9.14%	4.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URAA and NLR in my portfolio?

With a correlation of 0.99, URAA and NLR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, URAA or NLR?

URAA has higher volatility (26.55%) compared to NLR (12.90%). In terms of maximum drawdown, URAA dropped -69.08% vs NLR's -65.05%.

Which ETF is better, URAA or NLR?

On 1-year performance, NLR leads with -2.28% vs -17.19% for URAA. On fees, NLR is cheaper at 0.56% per year. On volatility, NLR has been the lower-risk option at 12.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAA or NLR?

Over the 1-year period, NLR has performed better with a -2.28% return vs -17.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAA or NLR?

NLR is cheaper with a 0.56% expense ratio, compared with 1.28% for URAA.

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

URAA has the higher dividend yield at 15.12%, compared with 2.96% for NLR.

What is the main difference between URAA and NLR?

URAA tracks Solactive United States Uranium and Nuclear Energy ETF Select Index (200%), while NLR tracks MVIS Global Uranium & Nuclear Energy Index. They also come from different issuers: Direxion and VanEck. Their fees differ too: 1.28% for URAA and 0.56% for NLR.

Which has better risk-adjusted returns?

NLR currently has the higher Sharpe Ratio (-0.10 vs -0.21), 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.