URAN vs. NRES

Last updated Jul 18, 2026

URAN (Themes Uranium & Nuclear ETF) and NRES (Xtrackers RREEF Global Natural Resources ETF) are both exchange-traded funds - URAN is a Uranium fund tracking the BITA Global Uranium and Nuclear Select Index, while NRES is a Natural Resources fund actively managed by Xtrackers. URAN is passively managed, while NRES is actively managed. Over the past year, URAN returned -5.53% vs 28.05% for NRES. At a 0.44 correlation, their price movements are largely independent. URAN charges 0.35%/yr vs 0.45%/yr for NRES.

Performance

URAN vs. NRES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Uranium & Nuclear ETF (URAN) and Xtrackers RREEF Global Natural Resources ETF (NRES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URAN achieves a -13.34% return, which is significantly lower than NRES's 9.54% return.

URAN

• 1D: -0.47%
• 1M: -11.56%
• 6M: -26.01%
• YTD: -13.34%
• 1Y: -5.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRES

• 1D: 0.60%
• 1M: -1.97%
• 6M: 1.93%
• YTD: 9.54%
• 1Y: 28.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URAN vs. NRES - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAN Themes Uranium & Nuclear ETF	-13.34%	49.05%	3.89%
NRES Xtrackers RREEF Global Natural Resources ETF	9.54%	27.08%	-9.81%

Correlation

The correlation between URAN and NRES is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	0.44

Return for Risk

URAN vs. NRES — Risk / Return Rank

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

URAN

URAN Risk / Return Rank: 8
URAN Sharpe Ratio Rank: 8
URAN Sortino Ratio Rank: 9
URAN Omega Ratio Rank: 9
URAN Calmar Ratio Rank: 8
URAN Martin Ratio Rank: 8

NRES

NRES Risk / Return Rank: 59
NRES Sharpe Ratio Rank: 66
NRES Sortino Ratio Rank: 60
NRES Omega Ratio Rank: 61
NRES Calmar Ratio Rank: 56
NRES Martin Ratio Rank: 52

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.

URAN vs. NRES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Uranium & Nuclear ETF (URAN) and Xtrackers RREEF Global Natural Resources ETF (NRES). 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.

	URAN	NRES	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	1.62	-1.76
Sortino ratio: Return per unit of downside risk	0.08	2.16	-2.08
Omega ratio: Gain probability vs. loss probability	1.01	1.28	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.16	2.13	-2.29
Martin ratio: Return relative to average drawdown	-0.34	6.69	-7.03

URAN vs. NRES - Sharpe Ratio Comparison

The current URAN Sharpe Ratio is -0.14, which is lower than the NRES Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of URAN and NRES, 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

URAN vs. NRES - Drawdown Comparison

The maximum URAN drawdown since its inception was -34.22%, which is greater than NRES's maximum drawdown of -22.22%. Use the drawdown chart below to compare losses from any high point for URAN and NRES.

Drawdown Indicators

	URAN	NRES	Difference
Max Drawdown Largest peak-to-trough decline	-34.22%	-22.22%	-12.00%
Max Drawdown (1Y) Largest decline over 1 year	-34.22%	-13.25%	-20.97%
Current Drawdown Current decline from peak	-34.22%	-9.99%	-24.23%
Average Drawdown Average peak-to-trough decline	-11.93%	-5.45%	-6.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.16%	4.20%	+11.96%

Volatility

URAN vs. NRES - Volatility Comparison

Themes Uranium & Nuclear ETF (URAN) has a higher volatility of 7.78% compared to Xtrackers RREEF Global Natural Resources ETF (NRES) at 4.39%. This indicates that URAN's price experiences larger fluctuations and is considered to be riskier than NRES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URAN	NRES	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	4.39%	+3.39%
Volatility (6M) Calculated over the trailing 6-month period	29.76%	13.65%	+16.11%
Volatility (1Y) Calculated over the trailing 1-year period	39.80%	17.39%	+22.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.05%	18.03%	+21.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.05%	18.03%	+21.02%

URAN vs. NRES - Expense Ratio Comparison

URAN has a 0.35% expense ratio, which is lower than NRES's 0.45% expense ratio.

Dividends

URAN vs. NRES - Dividend Comparison

URAN's dividend yield for the trailing twelve months is around 2.96%, more than NRES's 2.59% yield.

Position	TTM	2025	2024
NRES Xtrackers RREEF Global Natural Resources ETF	2.59%	2.65%	3.23%
URAN Themes Uranium & Nuclear ETF	2.96%	2.56%	0.21%

Frequently Asked Questions

Can I hold both URAN and NRES in my portfolio?

URAN and NRES have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URAN or NRES?

URAN has higher volatility (7.78%) compared to NRES (4.39%). In terms of maximum drawdown, URAN dropped -34.22% vs NRES's -22.22%.

Which ETF is better, URAN or NRES?

On 1-year performance, NRES leads with 28.05% vs -5.53% for URAN. On fees, URAN is cheaper at 0.35% per year. On volatility, NRES has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAN or NRES?

Over the 1-year period, NRES has performed better with a 28.05% return vs -5.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAN or NRES?

URAN is cheaper with a 0.35% expense ratio, compared with 0.45% for NRES.

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

URAN has the higher dividend yield at 2.96%, compared with 2.59% for NRES.

What is the main difference between URAN and NRES?

URAN is categorized as Uranium, while NRES is Natural Resources. They also come from different issuers: Themes and Xtrackers. Their fees differ too: 0.35% for URAN and 0.45% for NRES.

Which has better risk-adjusted returns?

NRES currently has the higher Sharpe Ratio (1.62 vs -0.14), 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.