UX vs. NLR

Last updated Jun 4, 2026

UX (Roundhill Uranium ETF) and NLR (VanEck Uranium and Nuclear ETF) are both exchange-traded funds - UX is a Commodity Producers Equities fund actively managed by Roundhill, while NLR is a Alternative Energy Equities fund tracking the MVIS Global Uranium & Nuclear Energy Index. UX is actively managed, while NLR is passively managed. Over the past year, UX returned 17.18% vs 36.84% for NLR. A 0.61 correlation means they provide meaningful diversification when combined. UX charges 0.75%/yr vs 0.56%/yr for NLR.

Performance

UX vs. NLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Uranium ETF (UX) 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, UX achieves a -0.61% return, which is significantly lower than NLR's 6.14% return.

UX

• 1D: -2.53%
• 1M: -3.11%
• YTD: -0.61%
• 6M: 6.59%
• 1Y: 17.18%
• 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)

UX vs. NLR - Yearly Performance Comparison

	2026 (YTD)	2025
UX Roundhill Uranium ETF	-0.61%	15.76%
NLR VanEck Uranium and Nuclear ETF	6.14%	44.42%

Correlation

The correlation between UX and NLR is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025	0.61

The correlation between UX and NLR has been stable across timeframes, ranging from 0.61 to 0.61 - a consistent structural relationship.

UX vs. NLR - Sectors Allocation Comparison

Sectors	UX	NLR
Energy	100.0%	46.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	15.1%
Real Estate	-	-
Technology	-	1.5%
Utilities	-	37.4%

Return for Risk

UX vs. NLR — Risk / Return Rank

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

UX

UX Risk / Return Rank: 17
UX Sharpe Ratio Rank: 17
UX Sortino Ratio Rank: 18
UX Omega Ratio Rank: 18
UX Calmar Ratio Rank: 18
UX Martin Ratio Rank: 16

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.

UX vs. NLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Uranium ETF (UX) 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.

	UX	NLR	Difference
Sharpe ratio: Return per unit of total volatility	0.50	0.88	-0.37
Sortino ratio: Return per unit of downside risk	0.93	1.43	-0.50
Omega ratio: Gain probability vs. loss probability	1.11	1.17	-0.06
Calmar ratio: Return relative to maximum drawdown	0.73	1.43	-0.71
Martin ratio: Return relative to average drawdown	1.45	2.93	-1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UX vs. NLR - Sharpe Ratio Comparison

The current UX Sharpe Ratio is 0.50, which is lower than the NLR Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of UX 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

	UX	NLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	0.88	-0.37
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	0.31	0.18	+0.13

Drawdowns

UX vs. NLR - Drawdown Comparison

The maximum UX drawdown since its inception was -23.72%, smaller than the maximum NLR drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for UX and NLR.

Drawdown Indicators

	UX	NLR	Difference
Max Drawdown Largest peak-to-trough decline	-23.72%	-65.05%	+41.33%
Max Drawdown (1Y) Largest decline over 1 year	-23.72%	-25.80%	+2.08%
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	-19.59%	-19.80%	+0.21%
Average Drawdown Average peak-to-trough decline	-10.13%	-35.72%	+25.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.87%	12.61%	-0.74%

Volatility

UX vs. NLR - Volatility Comparison

The current volatility for Roundhill Uranium ETF (UX) is 8.07%, while VanEck Uranium and Nuclear ETF (NLR) has a volatility of 13.18%. This indicates that UX 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

	UX	NLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.07%	13.18%	-5.11%
Volatility (6M) Calculated over the trailing 6-month period	24.59%	32.83%	-8.24%
Volatility (1Y) Calculated over the trailing 1-year period	34.45%	42.32%	-7.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.20%	29.24%	+6.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.20%	24.02%	+12.18%

UX vs. NLR - Expense Ratio Comparison

UX has a 0.75% expense ratio, which is higher than NLR's 0.56% expense ratio.

Dividends

UX vs. NLR - Dividend Comparison

UX's dividend yield for the trailing twelve months is around 1.49%, less than NLR's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLR VanEck Uranium and Nuclear 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%
UX Roundhill Uranium ETF	1.49%	1.48%	0.00%	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 UX and NLR in my portfolio?

UX and NLR have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UX or NLR?

NLR has higher volatility (13.18%) compared to UX (8.07%). In terms of maximum drawdown, UX dropped -23.72% vs NLR's -65.05%.

Which ETF is better, UX or NLR?

On 1-year performance, NLR leads with 36.84% vs 17.18% for UX. On fees, NLR is cheaper at 0.56% per year. On volatility, UX has been the lower-risk option at 8.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UX or NLR?

Over the 1-year period, NLR has performed better with a 36.84% return vs 17.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UX or NLR?

NLR is cheaper with a 0.56% expense ratio, compared with 0.75% for UX.

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

NLR has the higher dividend yield at 2.40%, compared with 1.49% for UX.

What is the main difference between UX and NLR?

UX is categorized as Commodity Producers Equities, while NLR is Alternative Energy Equities. They also come from different issuers: Roundhill and VanEck. Their fees differ too: 0.75% for UX and 0.56% for NLR.

Which has better risk-adjusted returns?

NLR currently has the higher Sharpe Ratio (0.88 vs 0.50), 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.