VanEck Uranium+Nuclear Energy 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). The fund provides investors with exposure to companies involved in uranium mining; the construction, engineering and maintenance of nuclear power facilities and nuclear reactors; the production of electricity from nuclear sources; or the provision of equipment, technology and/or services to the nuclear power industry. Key holdings as of late 2025 include Constellation Energy Corp (8.54%), Cameco Corp (8.19%), BWX Technologies Inc (5.85%), Oklo Inc (5.29%) and NexGen Energy Ltd (5.09%), with sector allocations emphasizing energy (47.85%), utilities (34.52%) and industrials (17.59%).
The ETF, managed by VanEck—a global investment management firm headquartered in New York City and founded in 1955—operates passively with a net expense ratio of 0.56% and total net assets exceeding $3.4 billion as of December 2025. Geographically, NLR maintains significant exposure to the United States (48.63%), Canada (17.37%), Australia (9.73%) and China (6.89%), alongside allocations to Kazakhstan, the Czech Republic, Finland and others. Launched on August 13, 2007, and listed on NYSE Arca, the fund targets investors seeking thematic access to the global nuclear energy sector amid rising demand for low-carbon power sources.
In recent developments, NLR has benefited from heightened interest in nuclear energy, driven by major technology sector deals such as Microsoft's agreement with Constellation Energy to restart Three Mile Island and Google's partnership with Kairos Power for data center power needs. Prior to May 6, 2024, the fund's name used "and" instead of the "+" symbol, reflecting a minor branding update; it delivered a 17.29% return through Q3 2024, leading nuclear energy ETFs, with YTD returns reaching 59.67% (NAV) by late 2025 amid policy support from the U.S., France, Japan and China. The portfolio has incorporated innovative holdings like Oklo Inc for advanced nuclear plants and BWX Technologies, which secured a U.S. contract for domestic uranium enrichment, enhancing diversification across the nuclear value chain.