GCLX.L vs. NCLP.L
GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) and NCLP.L (WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating) are both Energy Equities funds - GCLX.L tracks the S&P Global Clean Energy TR USD while NCLP.L tracks the WisdomTree Uranium and Nuclear Energy UCITS Index. Both are passively managed. Over the past year, GCLX.L returned 88.67% vs 78.50% for NCLP.L. A 0.56 correlation means they provide meaningful diversification when combined. GCLX.L charges 0.60%/yr vs 0.45%/yr for NCLP.L.
Performance
GCLX.L vs. NCLP.L - Performance Comparison
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Returns By Period
In the year-to-date period, GCLX.L achieves a 36.06% return, which is significantly higher than NCLP.L's 17.09% return.
GCLX.L
- 1D
- -0.90%
- 1M
- 3.33%
- YTD
- 36.06%
- 6M
- 36.43%
- 1Y
- 88.67%
- 3Y*
- 5.24%
- 5Y*
- -3.55%
- 10Y*
- —
NCLP.L
- 1D
- -0.28%
- 1M
- -8.79%
- YTD
- 17.09%
- 6M
- 10.83%
- 1Y
- 78.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GCLX.L vs. NCLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 36.06% | 41.65% |
NCLP.L WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating | 17.09% | 94.52% |
Correlation
The correlation between GCLX.L and NCLP.L is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.56 |
The correlation between GCLX.L and NCLP.L has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.
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Return for Risk
GCLX.L vs. NCLP.L — Risk / Return Rank
GCLX.L
NCLP.L
GCLX.L vs. NCLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) and WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating (NCLP.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.
| GCLX.L | NCLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.66 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.28 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 8.26 | 2.90 | +5.37 |
| Martin ratioReturn relative to average drawdown | 27.52 | 7.54 | +19.98 |
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
| GCLX.L | NCLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.21 | 1.73 | +2.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 2.11 | -2.35 |
Drawdowns
GCLX.L vs. NCLP.L - Drawdown Comparison
The maximum GCLX.L drawdown since its inception was -69.45%, which is greater than NCLP.L's maximum drawdown of -26.96%. Use the drawdown chart below to compare losses from any high point for GCLX.L and NCLP.L.
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Drawdown Indicators
| GCLX.L | NCLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.45% | -26.96% | -42.49% |
Max Drawdown (1Y)Largest decline over 1 year | -10.67% | -26.96% | +16.29% |
Max Drawdown (3Y)Largest decline over 3 years | -52.84% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | — | — |
Current DrawdownCurrent decline from peak | -29.12% | -15.07% | -14.05% |
Average DrawdownAverage peak-to-trough decline | -40.37% | -7.53% | -32.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 10.38% | -7.17% |
Volatility
GCLX.L vs. NCLP.L - Volatility Comparison
The current volatility for Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) is 8.47%, while WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating (NCLP.L) has a volatility of 12.79%. This indicates that GCLX.L experiences smaller price fluctuations and is considered to be less risky than NCLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCLX.L | NCLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.47% | 12.79% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 31.79% | -17.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.98% | 45.11% | -24.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.59% | 45.42% | -19.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.20% | 45.42% | -19.22% |
GCLX.L vs. NCLP.L - Expense Ratio Comparison
GCLX.L has a 0.60% expense ratio, which is higher than NCLP.L's 0.45% expense ratio.
Dividends
GCLX.L vs. NCLP.L - Dividend Comparison
Neither GCLX.L nor NCLP.L has paid dividends to shareholders.
Frequently Asked Questions
GCLX.L and NCLP.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NCLP.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NCLP.L is cheaper with a 0.45% expense ratio, compared with 0.60% for GCLX.L.
GCLX.L tracks S&P Global Clean Energy TR USD, while NCLP.L tracks WisdomTree Uranium and Nuclear Energy UCITS Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.60% for GCLX.L and 0.45% for NCLP.L.
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