NLR Fees and Costs — VanEck Uranium and Nuclear ETF
Data updated: 2026-08-26
The net expense ratio is 0.52%: a 0.50% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $900K in broker commissions, 0.0439% of average net assets, and portfolio turnover was 42%.
NLR Fees and Expenses
Annual operating expenses and sales charges of NLR. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.02% |
| Gross expense ratio | 0.52% |
| Fee waiver | — |
| Net expense ratio | 0.52% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
NLR Costs Over Time
On $10,000 invested in NLR, assuming 5% a year before costs, total costs come to $356 over 5 years, cutting the return by 0.59% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.52%) | $55 | $171 | $298 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $195 | $356 |
| Value after costs | $10,441 | $11,382 | $12,407 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
NLR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0439%
- Total broker commissions: $900K
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 42%
- Securities on loan, average value: $419.8M
- Net income from securities lending: $13.1M (0.641% of average net assets)
NLR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $293K | 32.60% |
| J.P. Morgan Securities LLC | $223K | 24.82% |
| Citigroup Global Markets Inc. | $215K | 23.84% |
| Morgan Stanley & Co. LLC | $111K | 12.28% |
| BofA Securities, Inc. | $57K | 6.28% |
| Goldman Sachs & Co. LLC | $2K | 0.18% |
NLR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.8B | 72.84% |
| UBS Securities LLC | $423.2M | 17.01% |
| BofA Securities, Inc. | $154.9M | 6.23% |
| Goldman Sachs & Co. LLC | $38.5M | 1.55% |
| Jane Street Capital, LLC | $24.7M | 0.99% |
| Mizuho Securities USA LLC | $18.1M | 0.73% |
| Virtu Americas LLC | $16.3M | 0.66% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.