Which Is the Better Energy ETF, the Alerian MLP or VanEck's NLR Focused on Uranium and Nuclear?
Key Points
The Alerian MLP ETF has a significantly higher dividend yield and expense ratio than the VanEck Uranium and Nuclear ETF.
The VanEck Uranium and Nuclear ETF provides exposure to nuclear power and uranium mining, while Alerian MLP ETF focuses almost exclusively on energy infrastructure.
The Alerian MLP ETF has delivered a higher 1-year total return but manages a more concentrated portfolio of 14 holdings.
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The Alerian MLP ETF (NYSEMKT:AMLP) provides concentrated, high-yield energy infrastructure exposure, while the VanEck Uranium and Nuclear ETF (NYSEMKT:NLR) offers a diversified play on the global nuclear power supply chain with lower fees.
Energy-focused investors often weigh income against specific thematic growth. AMLP targets master limited partnerships primarily in midstream oil and gas transportation, whereas NLR focuses on nuclear utilities and uranium miners. This comparison evaluates how their yields, costs, and risk profiles differ for a long-term portfolio.
Snapshot (cost & size)
| Metric | NLR | AMLP |
|---|---|---|
| Issuer | VanEck | ALPS Funds |
| Share price | $116.30 (as of 2026-06-26) | $51.44 (as of 2026-06-26) |
| Expense ratio | 0.52% | 1.01% |
| 1-yr return (as of June 26, 2026) | 7.60% | 14.20% |
| Dividend yield | 2.70% | 8.00% |
| Beta | 0.85 | 0.50 |
| AUM | $4.2 billion | $12.1 billion |
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
Investors pay a premium for the MLP focus, as Alerian MLP ETF carries a 1.01% expense ratio, nearly double the 0.52% charged by VanEck Uranium and Nuclear ETF. However, the Alerian fund offers a significantly higher 8% distribution yield.
Performance & risk comparison
| Metric | NLR | AMLP |
|---|---|---|
| Max drawdown (5 yr) | (30.50%) | (20.90%) |
| Growth of $1,000 over 5 years (total return) | $2,455 | $2,119 |
What's inside
The Alerian MLP ETF concentrates on energy infrastructure, with 98% of its weight in the energy sector and 2% in utilities. Its largest positions include Sunoco (NYSE:SUN) at 12.50%, Energy Transfer (NYSE:ET) at 12.46%, and MPLX (NYSE:MPLX) at 12.20%. It holds 14 positions and was launched in 2010. The Alerian MLP ETF has paid $4.02 per share over the trailing 12 months, which on its recent ~$51.44 share price works out to an 8% yield.
The VanEck Uranium and Nuclear ETF offers broader industrial exposure, with sectors including energy at 48%, utilities at 29%, and industrials at 19%. Top holdings include Constellation Energy (NASDAQ:CEG) at 8.55%, Cameco (NYSE:CCJ) at 8.40%, and Public Service Enterprise Group (NYSE:PEG) at 7.09%. It holds 29 positions and was launched in 2007. The VanEck Uranium and Nuclear ETF has paid $3.17 per share over the trailing 12 months, which on its recent ~$116.30 share price works out to a 2.7% yield.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
Investing in the energy sector makes sense given the soaring demand for power in the era of artificial intelligence. Coupled with that is increased desire for renewable energy options, which gives the VanEck Uranium and Nuclear ETF (NLR) rising significance. Meanwhile, the Alerian MLP ETF (AMLP) provides exposure to companies with a focus on fossil fuels for energy.
That is one of the key distinctions between these two funds. However, several additional factors may sway a decision to invest in one over the other.
AMLP targets U.S. companies with petroleum pipeline transportation as its biggest sector holding at 28% followed by natural gas pipeline transportation at 24%. Its hefty dividend yield is appealing for income-focused investors, and it offers low volatility compared to the speculative nature of uranium stocks. This can be seen in its significantly lower beta. However, its expense ratio is high.
NLR has delivered a higher return over five years, and that could continue given the increasing demand for fossil fuel alternatives. Its lower costs are also appealing, as AMPL’s large expense ratio eats into your return. However, NLR is prone to higher volatility and it has greater exposure to international stocks as only 50% of its holdings are U.S.-based companies.
AMLP is for those who find appealing its more traditional energy investments and the greater stability that affords. NLR is for investors who believe nuclear energy demand will rise over time.
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Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco and Constellation Energy. The Motley Fool has a disclosure policy.
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