NCLP.L vs. PMLP.L
NCLP.L (WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating) and PMLP.L (HANetf Alerian Midstream Energy Dividend UCITS ETF) are both exchange-traded funds - NCLP.L is a Uranium fund tracking the WisdomTree Uranium and Nuclear Energy UCITS Index, while PMLP.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past year, NCLP.L returned 47.02% vs 36.13% for PMLP.L. At a 0.01 correlation, their price movements are largely independent. NCLP.L charges 0.45%/yr vs 0.40%/yr for PMLP.L.
Performance
NCLP.L vs. PMLP.L - Performance Comparison
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Returns By Period
In the year-to-date period, NCLP.L achieves a 10.42% return, which is significantly lower than PMLP.L's 29.65% return.
NCLP.L
- 1D
- 0.00%
- 1M
- -7.48%
- YTD
- 10.42%
- 6M
- 7.15%
- 1Y
- 47.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMLP.L
- 1D
- 1.39%
- 1M
- -0.06%
- YTD
- 29.65%
- 6M
- 30.68%
- 1Y
- 36.13%
- 3Y*
- 24.56%
- 5Y*
- 19.81%
- 10Y*
- —
NCLP.L vs. PMLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NCLP.L WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating | 10.42% | 56.86% |
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF | 29.65% | 3.95% |
Correlation
The correlation between NCLP.L and PMLP.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2025 | 0.01 |
The correlation between NCLP.L and PMLP.L shifts across timeframes, from -0.11 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NCLP.L vs. PMLP.L — Risk / Return Rank
NCLP.L
PMLP.L
NCLP.L vs. PMLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating (NCLP.L) and HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.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.
| NCLP.L | PMLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 3.32 | -2.12 |
| Martin ratioReturn relative to average drawdown | 2.50 | 9.23 | -6.73 |
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Drawdowns
NCLP.L vs. PMLP.L - Drawdown Comparison
The maximum NCLP.L drawdown since its inception was -39.10%, which is greater than PMLP.L's maximum drawdown of -31.86%. Use the drawdown chart below to compare losses from any high point for NCLP.L and PMLP.L.
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Drawdown Indicators
| NCLP.L | PMLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.10% | -31.86% | -7.24% |
Max Drawdown (1Y)Largest decline over 1 year | -39.10% | -10.82% | -28.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.50% | — |
Current DrawdownCurrent decline from peak | -26.24% | -2.08% | -24.16% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -7.27% | -7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.83% | 3.90% | +14.93% |
Volatility
NCLP.L vs. PMLP.L - Volatility Comparison
WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating (NCLP.L) has a higher volatility of 13.00% compared to HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L) at 6.69%. This indicates that NCLP.L's price experiences larger fluctuations and is considered to be riskier than PMLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLP.L | PMLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.00% | 6.69% | +6.31% |
Volatility (6M)Calculated over the trailing 6-month period | 32.56% | 15.83% | +16.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.44% | 19.17% | +44.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.45% | 19.67% | +42.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.45% | 23.20% | +39.25% |
NCLP.L vs. PMLP.L - Expense Ratio Comparison
NCLP.L has a 0.45% expense ratio, which is higher than PMLP.L's 0.40% expense ratio.
Dividends
NCLP.L vs. PMLP.L - Dividend Comparison
NCLP.L has not paid dividends to shareholders, while PMLP.L's dividend yield for the trailing twelve months is around 2.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
NCLP.L WisdomTree Uranium and Nuclear Energy UCITS ETF USD Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF | 2.80% | 3.31% | 3.37% | 6.48% | 6.12% | 6.58% | 4.17% |
Frequently Asked Questions
NCLP.L and PMLP.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PMLP.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PMLP.L is cheaper with a 0.40% expense ratio, compared with 0.45% for NCLP.L.
NCLP.L is categorized as Uranium, while PMLP.L is Energy Equities. NCLP.L tracks WisdomTree Uranium and Nuclear Energy UCITS Index, while PMLP.L tracks MSCI World/Energy NR USD. They also come from different issuers: WisdomTree and HANetf. Their fees differ too: 0.45% for NCLP.L and 0.40% for PMLP.L.
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