INRG.L vs. URNU.L

Last updated Jun 9, 2026

INRG.L (iShares Global Clean Energy UCITS ETF USD (Dist)) and URNU.L (Global X Uranium UCITS ETF USD Acc) are both exchange-traded funds - INRG.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD, while URNU.L is a Commodity Producers Equities fund tracking the Solactive Global Uranium & Nuclear Components Total Return v2 Index. Both are passively managed. Over the past 3 years, INRG.L returned 3.84%/yr vs 32.74%/yr for URNU.L. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.65% expense ratio.

Performance

INRG.L vs. URNU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) and Global X Uranium UCITS ETF USD Acc (URNU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

INRG.L is traded in GBp, while URNU.L is traded in USD. To make them comparable, the URNU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, INRG.L achieves a 30.88% return, which is significantly higher than URNU.L's 9.77% return.

INRG.L

• 1D: -1.85%
• 1M: 3.78%
• YTD: 30.88%
• 6M: 28.36%
• 1Y: 69.58%
• 3Y*: 3.84%
• 5Y*: 1.03%
• 10Y*: 11.81%

URNU.L

• 1D: -0.73%
• 1M: -15.71%
• YTD: 9.77%
• 6M: 0.37%
• 1Y: 50.17%
• 3Y*: 32.74%
• 5Y*: —
• 10Y*: —

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

INRG.L vs. URNU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist)	30.88%	34.16%	-24.63%	-23.98%	1.77%
URNU.L Global X Uranium UCITS ETF USD Acc	9.77%	58.36%	2.96%	32.91%	2.69%

Correlation

The correlation between INRG.L and URNU.L is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 19, 2022	0.40

The correlation between INRG.L and URNU.L shifts across timeframes, from 0.40 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.

INRG.L vs. URNU.L - Sectors Allocation Comparison

Sectors	INRG.L	URNU.L
Utilities	33.6%	9.0%
Industrials	26.5%	25.4%
Energy	25.8%	60.4%
Technology	11.4%	0.9%
Basic Materials	1.2%	4.3%
Consumer Cyclical	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

INRG.L vs. URNU.L — Risk / Return Rank

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

INRG.L

INRG.L Risk / Return Rank: 88
INRG.L Sharpe Ratio Rank: 91
INRG.L Sortino Ratio Rank: 88
INRG.L Omega Ratio Rank: 82
INRG.L Calmar Ratio Rank: 92
INRG.L Martin Ratio Rank: 85

URNU.L

URNU.L Risk / Return Rank: 30
URNU.L Sharpe Ratio Rank: 28
URNU.L Sortino Ratio Rank: 32
URNU.L Omega Ratio Rank: 29
URNU.L Calmar Ratio Rank: 32
URNU.L Martin Ratio Rank: 27

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.

INRG.L vs. URNU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) and Global X Uranium UCITS ETF USD Acc (URNU.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.

	INRG.L	URNU.L	Difference
Sharpe ratio: Return per unit of total volatility	2.82	1.00	+1.83
Sortino ratio: Return per unit of downside risk	3.68	1.61	+2.07
Omega ratio: Gain probability vs. loss probability	1.44	1.19	+0.25
Calmar ratio: Return relative to maximum drawdown	5.49	1.58	+3.90
Martin ratio: Return relative to average drawdown	16.14	3.88	+12.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INRG.L vs. URNU.L - Sharpe Ratio Comparison

The current INRG.L Sharpe Ratio is 2.82, which is higher than the URNU.L Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of INRG.L and URNU.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.

Sharpe Ratios by Period

	INRG.L	URNU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	1.00	+1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.66	-0.67

Drawdowns

INRG.L vs. URNU.L - Drawdown Comparison

The maximum INRG.L drawdown since its inception was -92.06%, which is greater than URNU.L's maximum drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for INRG.L and URNU.L.

Drawdown Indicators

	INRG.L	URNU.L	Difference
Max Drawdown Largest peak-to-trough decline	-92.06%	-39.27%	-52.79%
Max Drawdown (1Y) Largest decline over 1 year	-12.62%	-31.57%	+18.95%
Max Drawdown (3Y) Largest decline over 3 years	-43.83%	-39.27%	-4.56%
Max Drawdown (5Y) Largest decline over 5 years	-57.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.78%	—	—
Current Drawdown Current decline from peak	-60.08%	-20.43%	-39.65%
Average Drawdown Average peak-to-trough decline	-74.81%	-12.38%	-62.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	12.90%	-8.60%

Volatility

INRG.L vs. URNU.L - Volatility Comparison

The current volatility for iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) is 10.72%, while Global X Uranium UCITS ETF USD Acc (URNU.L) has a volatility of 15.44%. This indicates that INRG.L experiences smaller price fluctuations and is considered to be less risky than URNU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INRG.L	URNU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.72%	15.44%	-4.72%
Volatility (6M) Calculated over the trailing 6-month period	18.19%	35.25%	-17.06%
Volatility (1Y) Calculated over the trailing 1-year period	24.58%	50.26%	-25.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.89%	40.09%	-15.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	40.09%	-14.71%

INRG.L vs. URNU.L - Expense Ratio Comparison

Both INRG.L and URNU.L have an expense ratio of 0.65%.

Dividends

INRG.L vs. URNU.L - Dividend Comparison

INRG.L's dividend yield for the trailing twelve months is around 0.87%, while URNU.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist)	0.87%	1.34%	1.24%	0.80%	0.51%	0.74%	0.48%	1.60%	2.81%	2.83%	2.73%	2.55%
URNU.L Global X Uranium UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INRG.L and URNU.L in my portfolio?

INRG.L and URNU.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INRG.L or URNU.L?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INRG.L or URNU.L?

INRG.L and URNU.L have the same expense ratio: 0.65% per year.

What is the main difference between INRG.L and URNU.L?

INRG.L is categorized as Energy Equities, while URNU.L is Commodity Producers Equities. INRG.L tracks S&P Global Clean Energy TR USD, while URNU.L tracks Solactive Global Uranium & Nuclear Components Total Return v2 Index. They also come from different issuers: iShares and Global X.