XSMO vs. NLR

Last updated Jun 14, 2026

XSMO (Invesco S&P SmallCap Momentum ETF) and NLR (VanEck Uranium and Nuclear ETF) are both exchange-traded funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index, while NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index. Both are passively managed. Over the past 10 years, XSMO returned 15.17%/yr vs 12.80%/yr for NLR. A 0.53 correlation means they provide meaningful diversification when combined. XSMO charges 0.36%/yr vs 0.56%/yr for NLR.

Performance

XSMO vs. NLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Momentum ETF (XSMO) 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, XSMO achieves a 24.80% return, which is significantly higher than NLR's -1.81% return. Over the past 10 years, XSMO has outperformed NLR with an annualized return of 15.17%, while NLR has yielded a comparatively lower 12.80% annualized return.

XSMO

• 1D: 1.22%
• 1M: 5.85%
• YTD: 24.80%
• 6M: 20.56%
• 1Y: 37.87%
• 3Y*: 24.32%
• 5Y*: 11.65%
• 10Y*: 15.17%

NLR

• 1D: 0.84%
• 1M: -5.96%
• YTD: -1.81%
• 6M: -3.70%
• 1Y: 19.00%
• 3Y*: 29.88%
• 5Y*: 19.78%
• 10Y*: 12.80%

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

XSMO vs. NLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSMO Invesco S&P SmallCap Momentum ETF	24.80%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.44%	23.95%
NLR VanEck Uranium and Nuclear ETF	-1.81%	56.50%	14.26%	36.67%	2.29%	13.63%	3.49%	0.20%	4.94%	8.25%

Correlation

The correlation between XSMO and NLR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Aug 15, 2007	0.53

The correlation between XSMO and NLR has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.

XSMO vs. NLR - Sectors Allocation Comparison

Sectors	XSMO	NLR
Technology	22.1%	1.6%
Industrials	18.7%	15.1%
Healthcare	14.3%	-
Financial Services	12.2%	-
Consumer Cyclical	8.6%	-
Basic Materials	6.0%	-
Real Estate	4.9%	-
Communication Services	4.5%	-
Utilities	3.5%	38.1%
Energy	2.9%	45.3%
Consumer Defensive	2.4%	-

Return for Risk

XSMO vs. NLR — Risk / Return Rank

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

XSMO

XSMO Risk / Return Rank: 70
XSMO Sharpe Ratio Rank: 63
XSMO Sortino Ratio Rank: 66
XSMO Omega Ratio Rank: 58
XSMO Calmar Ratio Rank: 84
XSMO Martin Ratio Rank: 80

NLR

NLR Risk / Return Rank: 18
NLR Sharpe Ratio Rank: 17
NLR Sortino Ratio Rank: 19
NLR Omega Ratio Rank: 18
NLR Calmar Ratio Rank: 18
NLR Martin Ratio Rank: 17

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.

XSMO vs. NLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) 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.

	XSMO	NLR	Difference
Sharpe ratio: Return per unit of total volatility	1.82	0.44	+1.38
Sortino ratio: Return per unit of downside risk	2.62	0.90	+1.72
Omega ratio: Gain probability vs. loss probability	1.31	1.10	+0.21
Calmar ratio: Return relative to maximum drawdown	3.98	0.63	+3.34
Martin ratio: Return relative to average drawdown	13.44	1.41	+12.04

XSMO vs. NLR - Sharpe Ratio Comparison

The current XSMO Sharpe Ratio is 1.82, which is higher than the NLR Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of XSMO 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

XSMO vs. NLR - Drawdown Comparison

The maximum XSMO drawdown since its inception was -58.06%, smaller than the maximum NLR drawdown of -65.05%. Use the drawdown chart below to compare losses from any high point for XSMO and NLR.

Drawdown Indicators

	XSMO	NLR	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-65.05%	+6.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-29.72%	+20.83%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-30.48%	+5.72%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	-30.48%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	-34.35%	-5.04%
Current Drawdown Current decline from peak	0.00%	-25.81%	+25.81%
Average Drawdown Average peak-to-trough decline	-11.12%	-35.70%	+24.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	13.33%	-10.70%

Volatility

XSMO vs. NLR - Volatility Comparison

The current volatility for Invesco S&P SmallCap Momentum ETF (XSMO) is 7.71%, while VanEck Uranium and Nuclear ETF (NLR) has a volatility of 13.73%. This indicates that XSMO 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

	XSMO	NLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	13.73%	-6.02%
Volatility (6M) Calculated over the trailing 6-month period	14.99%	33.75%	-18.76%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	42.85%	-23.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	29.56%	-6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.15%	24.22%	-0.07%

XSMO vs. NLR - Expense Ratio Comparison

XSMO has a 0.36% expense ratio, which is lower than NLR's 0.56% expense ratio.

Dividends

XSMO vs. NLR - Dividend Comparison

XSMO's dividend yield for the trailing twelve months is around 0.52%, less than NLR's 2.60% yield.

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%
XSMO Invesco S&P SmallCap Momentum ETF	0.52%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both XSMO and NLR in my portfolio?

XSMO and NLR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSMO or NLR?

NLR has higher volatility (13.73%) compared to XSMO (7.71%). In terms of maximum drawdown, XSMO dropped -58.06% vs NLR's -65.05%.

Which ETF is better, XSMO or NLR?

On 10-year performance, XSMO leads with 15.17% vs 12.80% for NLR. On fees, XSMO is cheaper at 0.36% per year. On volatility, XSMO has been the lower-risk option at 7.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSMO or NLR?

Over the 10-year period, XSMO has performed better with a 15.17% return vs 12.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSMO or NLR?

XSMO is cheaper with a 0.36% expense ratio, compared with 0.56% for NLR.

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

NLR has the higher dividend yield at 2.60%, compared with 0.52% for XSMO.

What is the main difference between XSMO and NLR?

XSMO is categorized as Momentum, while NLR is Uranium. XSMO tracks S&P SmallCap 600 Momentum Index, while NLR tracks MVIS Global Uranium & Nuclear Energy Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.36% for XSMO and 0.56% for NLR.

Which has better risk-adjusted returns?

XSMO currently has the higher Sharpe Ratio (1.82 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.