NLR ETF — Holdings & Analysis

The VanEck Uranium and Nuclear ETF (NLR) is a $4.67 billion fund seeking to replicate the performance of the MVIS Global Uranium & Nuclear Energy Index.

NLR provides exposure to companies involved in uranium mining, nuclear facility construction and maintenance, and nuclear power generation. With an expense ratio of 0.56%, NLR offers targeted access to the nuclear energy sector, differentiating itself through a focused approach on the entire nuclear value chain, from uranium mining to power production.

VanEck Uranium and Nuclear ETF (NLR) ETF — Price, Holdings & Analysis

The VanEck Uranium and Nuclear ETF (NLR) is a $4.67 billion fund seeking to replicate the performance of the MVIS Global Uranium & Nuclear Energy Index. NLR provides exposure to companies involved in uranium mining, nuclear facility construction and maintenance, and nuclear power generation. With an expense ratio of 0.56%, NLR offers targeted access to the nuclear energy sector, differentiating itself through a focused approach on the entire nuclear value chain, from uranium mining to power production.

ETF Overview

VanEck Uranium and Nuclear ETF (NLR) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS Global Uranium & Nuclear Energy Index (MVNLRTR), which is intended to track the overall performance of companies involved in: (i) uranium mining; (ii) the construction, engineering and maintenance of nuclear power facilities and nuclear reactors; (iii) the production of electricity from nuclear sources; or (iv) providing equipment, technology and/or services to the nuclear power industry.

NLR aims to track the MVIS Global Uranium & Nuclear Energy Index, offering investors exposure to the nuclear energy industry. The ETF invests in companies involved in various aspects of the nuclear sector, including uranium mining, construction and maintenance of nuclear facilities, and electricity production from nuclear sources. NLR's top holdings include Cameco Corp (8.87%), Constellation Energy Corp (6.20%), and Denison Mines Corp (6.10%). The fund's sector allocation is heavily weighted towards Energy (54.0%) and Utilities (30.1%), with a smaller allocation to Industrials (13.8%) and Technology (2.0%). This concentrated sector exposure makes NLR suitable for investors seeking targeted exposure to the nuclear energy sector, rather than broad diversification across multiple industries. The fund's country exposure is primarily in the United States (43.2%) and Canada (20.8%), with smaller allocations to Australia (8.9%) and Kazakhstan (5.4%).

Risk Metrics

NLR carries several risks inherent to its concentrated investment strategy. The fund's focus on the uranium and nuclear energy sectors exposes it to sector-specific risks, such as regulatory changes, environmental concerns, and technological advancements. With 54.0% of its assets in the Energy sector and 30.1% in Utilities, any downturn in these sectors could significantly impact NLR's performance. The fund's beta of 1.21 indicates that it is more volatile than the broader market. Additionally, the expense ratio of 0.56% will create a drag on performance over time, especially relative to lower-cost broad market ETFs. Concentration risk is also present, as the top 10 holdings account for a significant portion of the fund's assets. Past performance does not guarantee future results.

Expense Ratio

0.56%

What does NLR hold?

Holding	Weight
Cameco Corp (CCO.TO)	8.87%
Constellation Energy Corp (CEG)	6.20%
Denison Mines Corp (DML.TO)	6.10%
BWX Technologies Inc (BWXT)	5.54%
NexGen Energy Ltd (NXE.TO)	5.42%
Paladin Energy Ltd (PDN.AX)	5.36%
National Atomic Co Kazatomprom JSC ADR (KAP)	5.26%
PG&E Corp (PCG)	5.25%
Public Service Enterprise Group Inc (PEG)	4.91%
Uranium Energy Corp (UEC)	4.71%

How Is the Fund Allocated?

Sector	Weight
Energy	54.0%
Utilities	30.1%
Industrials	13.8%
Technology	2.0%

Country	Weight
United States	43.2%
Canada	20.8%
Australia	8.9%
Kazakhstan	5.4%
China	4.5%
Hong Kong	3.9%
South Korea	3.4%
Finland	3.4%
United Kingdom	3.2%
Czech Republic	3.1%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

VanEck Junior Gold Miners ETF (GDXJ) (Equity) — 0.51% expense ratio
VanEck Israel ETF (ISRA) (Equity) — 0.71% expense ratio
VanEck Gold Miners ETF (GDX) (Equity) — 0.51% expense ratio
VanEck Emerging Markets High Yield Bond ETF (HYEM) (Multi-Asset) — 0.40% expense ratio
VanEck Green Infrastructure ETF (RNEW) (Equity) — 0.47% expense ratio
VanEck Technology TruSector ETF (TRUT) (Equity) — 0.14% expense ratio

Risk Metrics

Beta: 1.21

Questions & Answers

What is NLR and what does it track?

The VanEck Uranium and Nuclear ETF (NLR) is an exchange-traded fund that seeks to replicate, before fees and expenses, the price and yield performance of the MVIS Global Uranium & Nuclear Energy Index (MVNLRTR).

What is the expense ratio for NLR?

The expense ratio for the VanEck Uranium and Nuclear ETF (NLR) is 0.56%. This means that for every $10,000 invested in the fund, $56 is used to cover the fund's operating expenses annually.

What are the top holdings in NLR?

As of 2026-03-15, the top holdings in the VanEck Uranium and Nuclear ETF (NLR) are: Cameco Corp (CCO.TO) at 8.87%, Constellation Energy Corp (CEG) at 6.20%, Denison Mines Corp (DML.TO) at 6.10%, BWX Technologies Inc (BWXT) at 5.54%, and NexGen…

Energy Ltd (NXE.TO) at 5.42%.

Is NLR a good long-term investment?

Whether NLR is a suitable long-term investment depends on an investor's individual circumstances and outlook on the nuclear energy sector.

NLR provides targeted exposure to companies involved in uranium mining and nuclear power, which may appeal to investors who believe in the long-term growth potential of nuclear energy.

How does NLR compare to similar ETFs?

NLR distinguishes itself through its focused approach on the nuclear energy sector, encompassing uranium mining, nuclear facility construction, and power generation.

While other energy ETFs may offer broader exposure to the energy market, NLR provides targeted access to the nuclear value chain. With AUM of $4.67 billion, NLR is a relatively large fund in this niche sector.

Does NLR pay dividends?

As of 2026-03-15, the VanEck Uranium and Nuclear ETF (NLR) has a dividend yield of 0.00%. This indicates that the fund currently does not distribute any dividends to its shareholders.

Investors seeking income from their investments may want to consider other ETFs with a higher dividend yield. However, NLR's primary focus is on capital appreciation through the growth of companies in the uranium and nuclear energy sectors.