NLR
VanEck Uranium+Nuclear Energy ETF
VanEck Vectors Nuclear ETF seeks investment results that correspond to the price and yield of the DAXglobal Nuclear Energy Index, a modified market-capitalization index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
4.1 B
ASSETS UNDER MGMT
61 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 13, 2007 |
| Assets (mns) | $4,097 |
| Expense ratio | 61 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| CAMECO CORP | 8.1 % |
| CONSTELLATION ENERGY CORPORATION | 7.4 % |
| ALTC ACQUISITION CORP. CLASS A | 7.0 % |
| BWX TECHNOLOGIES, INC. | 6.0 % |
| CENTRUS ENERGY CORP. CLASS A | 5.9 % |
| NUSCALE POWER CORPORATION CLASS A | 4.6 % |
| DENISON MINES CORP | 4.6 % |
| URANIUM ENERGY CORP | 4.2 % |
| ENERGY FUELS INC. | 4.1 % |
| PUBLIC SERVICE ENTERPRISE GP | 3.9 % |
Constituent Breakdown
| Number of holdings | 29 |
| Herfindahl-Hirschman Index | 449 |
| Wgt avg mkt cap (mns) | $21,974 |
| Large cap (>$10bn) | 43.4% |
| Mid cap ($2-10bn) | 34.9% |
| Small cap (<$2bn) | 9.2% |
| Developed mkts. | 84.7% |
| Emerging mkts. | 6.1% |
Country Exposure
 |
UNITED STATES | 47.4 % |
 |
CANADA | 19.3 % |
 |
AUSTRALIA | 9.4 % |
 |
FINLAND | 3.2 % |
 |
CZECH REPUBLIC | 3.0 % |
 |
HONG KONG | 2.9 % |
 |
BRITAIN | 2.7 % |
 |
SOUTH KOREA | 2.6 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 90.7% | 70.5% | 48.9% | 42.4% | 28.0% | 12.4% | -- | 1.7% |
| Dividend Yield | 0.0% | 1.3% | 4.0% | 3.5% | 3.0% | 3.3% | -- | 3.4% |
| Total Returns | 90.7% | 71.8% | 52.9% | 45.9% | 30.9% | 15.7% | -- | 5.2% | Ann. Volatility | 39.5% | 38.0% | 32.6% | 29.0% | 25.1% | 22.0% | -- | 25.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 19% |
| MSCI EAFE | 0.14 | 1% |
| MSCI Emg Mkts | -0.06 | 0% |
Liquidity Measures
| Avg. volume (000) | 965 |
| ADV traded (mns) | $150 |
| Turnover | 3.7% |
| Avg. Bid/Ask (% of price) | 0.14% |
Technical Indicators
| Recent close | $155.10 |
| 30d moving avg. | $146.54 |
| Annualized volatility | 27.8% |
| Relative strength (RSI) | 62 |
| Short interest | 3.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| URAN | Themes Uranium & Nuclear ETF | 43.9% | -26 bp | +1.1% |
| URA | Global X Uranium ETF | 31.7% | +8 bp | +1.0% |
| NUKZ | Range Nuclear Renaissance Index ETF | 29.6% | +24 bp | +1.1% |
| URNJ | Sprott Junior Uranium Miners ETF | 24.7% | +19 bp | -3.2% |
| SETM | Sprott Energy Transition Materials ETF | 19.6% | +4 bp | +1.9% |
| UTES | Virtus Reaves Utilities ETF | 14.5% | -12 bp | +3.8% |
| AIPO | Defiance AI & Power Infrastructure ETF | 14.3% | +8 bp | +1.2% |
| FUTY | Fidelity MSCI Utilities Index ETF | 13.2% | -53 bp | +5.0% |
| VPU | Vanguard Utilities ETF | 13.1% | -52 bp | +5.0% |
| FTWO | Strive FAANG 2.0 ETF | 13.0% | -12 bp | +4.3% |
Risk and Returns: NLR vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/3/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
NLR
1.3%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 370 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.1%. NLR's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places NLR in the 17th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NLRSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 177 |
| Avg. Expense Ratio | 55.1 bp |
| Std. Deviation | 18.1 bp |
| NLR (61 bp) Percentile rank | 63 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NLR | 61.0 | 13.7 | 74.7 |
| Peer Avg. | 55.1 | 39.5 | 94.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .