HDGB.L vs. NUCG.L

Last updated Jul 16, 2026

HDGB.L (VanEck Hydrogen Economy UCITS ETF) and NUCG.L (VanEck Uranium and Nuclear Technologies UCITS ETF) are both exchange-traded funds - HDGB.L is a Global Equities fund tracking the VanEck Hydrogen Economy UCITS ETF, while NUCG.L is a Uranium fund tracking the MarketVector Global Uranium and Nuclear Energy Infrastructure. Both are passively managed. Over the past 3 years, HDGB.L returned -6.65%/yr vs 33.17%/yr for NUCG.L. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.

Performance

HDGB.L vs. NUCG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Hydrogen Economy UCITS ETF (HDGB.L) and VanEck Uranium and Nuclear Technologies UCITS ETF (NUCG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HDGB.L is traded in GBP, while NUCG.L is traded in USD. To make them comparable, the NUCG.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HDGB.L achieves a 35.57% return, which is significantly higher than NUCG.L's -7.22% return.

HDGB.L

• 1D: -0.30%
• 1M: -11.66%
• 6M: 18.47%
• YTD: 35.57%
• 1Y: 59.95%
• 3Y*: -6.65%
• 5Y*: -12.57%
• 10Y*: —

NUCG.L

• 1D: -3.58%
• 1M: -14.59%
• 6M: -21.81%
• YTD: -7.22%
• 1Y: 7.34%
• 3Y*: 33.17%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HDGB.L vs. NUCG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HDGB.L VanEck Hydrogen Economy UCITS ETF	35.57%	10.07%	-28.93%	-40.46%
NUCG.L VanEck Uranium and Nuclear Technologies UCITS ETF	-7.22%	44.98%	34.19%	-5.27%

Correlation

The correlation between HDGB.L and NUCG.L is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023	0.43

The correlation between HDGB.L and NUCG.L shifts across timeframes, from 0.42 (3 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HDGB.L vs. NUCG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDGB.L

HDGB.L Risk / Return Rank: 51
HDGB.L Sharpe Ratio Rank: 58
HDGB.L Sortino Ratio Rank: 59
HDGB.L Omega Ratio Rank: 51
HDGB.L Calmar Ratio Rank: 52
HDGB.L Martin Ratio Rank: 37

NUCG.L

NUCG.L Risk / Return Rank: 13
NUCG.L Sharpe Ratio Rank: 13
NUCG.L Sortino Ratio Rank: 14
NUCG.L Omega Ratio Rank: 14
NUCG.L Calmar Ratio Rank: 13
NUCG.L Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HDGB.L vs. NUCG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Hydrogen Economy UCITS ETF (HDGB.L) and VanEck Uranium and Nuclear Technologies UCITS ETF (NUCG.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HDGB.L	NUCG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.59	0.18	+1.41
Sortino ratio: Return per unit of downside risk	2.26	0.55	+1.71
Omega ratio: Gain probability vs. loss probability	1.27	1.06	+0.20
Calmar ratio: Return relative to maximum drawdown	2.13	0.25	+1.88
Martin ratio: Return relative to average drawdown	4.71	0.53	+4.18

HDGB.L vs. NUCG.L - Sharpe Ratio Comparison

The current HDGB.L Sharpe Ratio is 1.59, which is higher than the NUCG.L Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of HDGB.L and NUCG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDGB.L vs. NUCG.L - Drawdown Comparison

The maximum HDGB.L drawdown since its inception was -80.00%, which is greater than NUCG.L's maximum drawdown of -37.15%. Use the drawdown chart below to compare losses from any high point for HDGB.L and NUCG.L.

Drawdown Indicators

	HDGB.L	NUCG.L	Difference
Max Drawdown Largest peak-to-trough decline	-80.00%	-37.15%	-42.85%
Max Drawdown (1Y) Largest decline over 1 year	-29.04%	-29.44%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-63.35%	-37.15%	-26.20%
Max Drawdown (5Y) Largest decline over 5 years	-80.00%	—	—
Current Drawdown Current decline from peak	-58.84%	-29.44%	-29.40%
Average Drawdown Average peak-to-trough decline	-51.60%	-12.20%	-39.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	13.89%	-0.70%

Volatility

HDGB.L vs. NUCG.L - Volatility Comparison

VanEck Hydrogen Economy UCITS ETF (HDGB.L) and VanEck Uranium and Nuclear Technologies UCITS ETF (NUCG.L) have volatilities of 10.35% and 9.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDGB.L	NUCG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	9.87%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	27.35%	27.99%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	39.10%	40.81%	-1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.53%	34.99%	-0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.61%	34.99%	-0.38%

HDGB.L vs. NUCG.L - Expense Ratio Comparison

Both HDGB.L and NUCG.L have an expense ratio of 0.55%.

Dividends

HDGB.L vs. NUCG.L - Dividend Comparison

Neither HDGB.L nor NUCG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HDGB.L and NUCG.L in my portfolio?

HDGB.L and NUCG.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDGB.L or NUCG.L?

Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDGB.L or NUCG.L?

HDGB.L and NUCG.L have the same expense ratio: 0.55% per year.

What is the main difference between HDGB.L and NUCG.L?

HDGB.L is categorized as Global Equities, while NUCG.L is Uranium. HDGB.L tracks VanEck Hydrogen Economy UCITS ETF, while NUCG.L tracks MarketVector Global Uranium and Nuclear Energy Infrastructure.