URAA vs. URAN

Last updated Jul 14, 2026

URAA (Direxion Daily Uranium Industry Bull 2X Shares) and URAN (Themes Uranium & Nuclear ETF) are both Uranium funds - URAA tracks the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%) while URAN tracks the BITA Global Uranium and Nuclear Select Index. Both are passively managed. Over the past year, URAA returned -9.13% vs 4.04% for URAN. Their correlation of 0.93 suggests significant overlap in exposure. URAA charges 1.28%/yr vs 0.35%/yr for URAN.

Performance

URAA vs. URAN - Performance Comparison

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

Returns By Period

In the year-to-date period, URAA achieves a -28.16% return, which is significantly lower than URAN's -10.01% return.

URAA

• 1D: -9.96%
• 1M: -20.39%
• 6M: -49.06%
• YTD: -28.16%
• 1Y: -9.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

URAN

• 1D: -3.22%
• 1M: -5.48%
• 6M: -21.50%
• YTD: -10.01%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URAA vs. URAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAA Direxion Daily Uranium Industry Bull 2X Shares	-28.16%	88.33%	-12.36%
URAN Themes Uranium & Nuclear ETF	-10.01%	49.05%	3.89%

Correlation

The correlation between URAA and URAN is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	0.93

The correlation between URAA and URAN has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

URAA vs. URAN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 13
URAA Calmar Ratio Rank: 8
URAA Martin Ratio Rank: 8

URAN

URAN Risk / Return Rank: 11
URAN Sharpe Ratio Rank: 11
URAN Sortino Ratio Rank: 12
URAN Omega Ratio Rank: 12
URAN Calmar Ratio Rank: 11
URAN Martin Ratio Rank: 11

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.

URAA vs. URAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Uranium Industry Bull 2X Shares (URAA) and Themes Uranium & Nuclear ETF (URAN). 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	URAN	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	0.10	-0.20
Sortino ratio: Return per unit of downside risk	0.56	0.43	+0.13
Omega ratio: Gain probability vs. loss probability	1.06	1.05	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.14	0.13	-0.27
Martin ratio: Return relative to average drawdown	-0.28	0.26	-0.54

URAA vs. URAN - Sharpe Ratio Comparison

The current URAA Sharpe Ratio is -0.10, which is lower than the URAN Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of URAA and URAN, 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. URAN - Drawdown Comparison

The maximum URAA drawdown since its inception was -67.45%, which is greater than URAN's maximum drawdown of -31.96%. Use the drawdown chart below to compare losses from any high point for URAA and URAN.

Drawdown Indicators

	URAA	URAN	Difference
Max Drawdown Largest peak-to-trough decline	-67.45%	-31.96%	-35.49%
Max Drawdown (1Y) Largest decline over 1 year	-63.83%	-31.72%	-32.11%
Current Drawdown Current decline from peak	-63.83%	-31.69%	-32.14%
Average Drawdown Average peak-to-trough decline	-28.69%	-11.74%	-16.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.53%	15.63%	+16.90%

Volatility

URAA vs. URAN - Volatility Comparison

Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a higher volatility of 23.10% compared to Themes Uranium & Nuclear ETF (URAN) at 9.30%. This indicates that URAA's price experiences larger fluctuations and is considered to be riskier than URAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URAA	URAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.10%	9.30%	+13.80%
Volatility (6M) Calculated over the trailing 6-month period	72.99%	29.77%	+43.22%
Volatility (1Y) Calculated over the trailing 1-year period	96.41%	39.88%	+56.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.18%	39.12%	+50.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.18%	39.12%	+50.06%

URAA vs. URAN - Expense Ratio Comparison

URAA has a 1.28% expense ratio, which is higher than URAN's 0.35% expense ratio.

Dividends

URAA vs. URAN - Dividend Comparison

URAA's dividend yield for the trailing twelve months is around 14.02%, more than URAN's 2.85% yield.

Position	TTM	2025	2024
URAA Direxion Daily Uranium Industry Bull 2X Shares	14.02%	9.14%	4.36%
URAN Themes Uranium & Nuclear ETF	2.85%	2.56%	0.21%

Frequently Asked Questions

Can I hold both URAA and URAN in my portfolio?

With a correlation of 0.95, URAA and URAN 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 URAN?

URAA has higher volatility (23.10%) compared to URAN (9.30%). In terms of maximum drawdown, URAA dropped -67.45% vs URAN's -31.96%.

Which ETF is better, URAA or URAN?

On 1-year performance, URAN leads with 4.04% vs -9.13% for URAA. On fees, URAN is cheaper at 0.35% per year. On volatility, URAN has been the lower-risk option at 9.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAA or URAN?

Over the 1-year period, URAN has performed better with a 4.04% return vs -9.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAA or URAN?

URAN is cheaper with a 0.35% expense ratio, compared with 1.28% for URAA.

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

URAA has the higher dividend yield at 14.02%, compared with 2.85% for URAN.

What is the main difference between URAA and URAN?

URAA tracks Solactive United States Uranium and Nuclear Energy ETF Select Index (200%), while URAN tracks BITA Global Uranium and Nuclear Select Index. They also come from different issuers: Direxion and Themes. Their fees differ too: 1.28% for URAA and 0.35% for URAN.

Which has better risk-adjusted returns?

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