FRNW vs. NCLR.L
FRNW (Fidelity Clean Energy ETF) and NCLR.L (WisdomTree Uranium and Nuclear Energy UCITS ETF) are both Alternative Energy Equities funds. FRNW is actively managed, while NCLR.L is passively managed. Over the past year, FRNW returned 86.03% vs 76.10% for NCLR.L. At a 0.44 correlation, their price movements are largely independent. FRNW charges 0.39%/yr vs 0.45%/yr for NCLR.L.
Performance
FRNW vs. NCLR.L - Performance Comparison
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Different Trading Currencies
FRNW is traded in USD, while NCLR.L is traded in GBp. To make them comparable, the NCLR.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FRNW achieves a 34.11% return, which is significantly higher than NCLR.L's 15.68% return.
FRNW
- 1D
- -1.91%
- 1M
- 7.89%
- YTD
- 34.11%
- 6M
- 34.18%
- 1Y
- 86.03%
- 3Y*
- 10.12%
- 5Y*
- —
- 10Y*
- —
NCLR.L
- 1D
- -5.41%
- 1M
- -9.92%
- YTD
- 15.68%
- 6M
- 17.68%
- 1Y
- 76.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FRNW vs. NCLR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FRNW Fidelity Clean Energy ETF | 34.11% | 54.16% |
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF | 15.68% | 121.93% |
Correlation
The correlation between FRNW and NCLR.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025 | 0.44 |
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Return for Risk
FRNW vs. NCLR.L — Risk / Return Rank
FRNW
NCLR.L
FRNW vs. NCLR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Clean Energy ETF (FRNW) and WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FRNW | NCLR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.26 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 7.47 | 2.54 | +4.93 |
| Martin ratioReturn relative to average drawdown | 23.29 | 6.10 | +17.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRNW | NCLR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.39 | 1.56 | +1.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 2.35 | -2.26 |
Drawdowns
FRNW vs. NCLR.L - Drawdown Comparison
The maximum FRNW drawdown since its inception was -59.37%, which is greater than NCLR.L's maximum drawdown of -29.77%. Use the drawdown chart below to compare losses from any high point for FRNW and NCLR.L.
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Drawdown Indicators
| FRNW | NCLR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.37% | -29.77% | -29.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -29.77% | +18.19% |
Max Drawdown (3Y)Largest decline over 3 years | -45.27% | — | — |
Current DrawdownCurrent decline from peak | -3.15% | -19.71% | +16.56% |
Average DrawdownAverage peak-to-trough decline | -33.33% | -8.78% | -24.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 12.44% | -8.73% |
Volatility
FRNW vs. NCLR.L - Volatility Comparison
The current volatility for Fidelity Clean Energy ETF (FRNW) is 8.16%, while WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L) has a volatility of 14.65%. This indicates that FRNW experiences smaller price fluctuations and is considered to be less risky than NCLR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRNW | NCLR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.16% | 14.65% | -6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 17.79% | 35.59% | -17.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.61% | 48.50% | -22.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.35% | 49.13% | -20.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.35% | 49.13% | -20.78% |
FRNW vs. NCLR.L - Expense Ratio Comparison
FRNW has a 0.39% expense ratio, which is lower than NCLR.L's 0.45% expense ratio.
Dividends
FRNW vs. NCLR.L - Dividend Comparison
FRNW's dividend yield for the trailing twelve months is around 0.94%, while NCLR.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FRNW Fidelity Clean Energy ETF | 0.94% | 1.25% | 1.43% | 1.30% | 0.69% | 0.04% |
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FRNW and NCLR.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FRNW is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FRNW is cheaper with a 0.39% expense ratio, compared with 0.45% for NCLR.L.
They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.39% for FRNW and 0.45% for NCLR.L.
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