NCLR.L vs. HTWG.L

Last updated Jun 4, 2026

NCLR.L (WisdomTree Uranium and Nuclear Energy UCITS ETF) and HTWG.L (L&G Hydrogen Economy UCITS ETF) are both Alternative Energy Equities funds - NCLR.L tracks the WisdomTree Uranium and Nuclear Energy UCITS Index while HTWG.L tracks the Solactive Hydrogen Economy Index NTR. Both are passively managed. Over the past year, NCLR.L returned 77.28% vs 116.48% for HTWG.L. A 0.56 correlation means they provide meaningful diversification when combined. NCLR.L charges 0.45%/yr vs 0.49%/yr for HTWG.L.

Performance

NCLR.L vs. HTWG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L) and L&G Hydrogen Economy UCITS ETF (HTWG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCLR.L achieves a 15.95% return, which is significantly lower than HTWG.L's 57.21% return.

NCLR.L

• 1D: -5.16%
• 1M: -8.97%
• YTD: 15.95%
• 6M: 17.05%
• 1Y: 77.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HTWG.L

• 1D: -1.54%
• 1M: 8.95%
• YTD: 57.21%
• 6M: 52.03%
• 1Y: 116.48%
• 3Y*: 21.12%
• 5Y*: 2.77%
• 10Y*: —

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

NCLR.L vs. HTWG.L - Yearly Performance Comparison

	2026 (YTD)	2025
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF	15.95%	112.38%
HTWG.L L&G Hydrogen Economy UCITS ETF	57.21%	31.26%

Correlation

The correlation between NCLR.L and HTWG.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 11, 2025	0.56

The correlation between NCLR.L and HTWG.L has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

Return for Risk

NCLR.L vs. HTWG.L — Risk / Return Rank

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

NCLR.L

NCLR.L Risk / Return Rank: 46
NCLR.L Sharpe Ratio Rank: 47
NCLR.L Sortino Ratio Rank: 44
NCLR.L Omega Ratio Rank: 42
NCLR.L Calmar Ratio Rank: 55
NCLR.L Martin Ratio Rank: 42

HTWG.L

HTWG.L Risk / Return Rank: 93
HTWG.L Sharpe Ratio Rank: 96
HTWG.L Sortino Ratio Rank: 93
HTWG.L Omega Ratio Rank: 91
HTWG.L Calmar Ratio Rank: 95
HTWG.L Martin Ratio Rank: 90

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.

NCLR.L vs. HTWG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L) and L&G Hydrogen Economy UCITS ETF (HTWG.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.

	NCLR.L	HTWG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.64	4.05	-2.42
Sortino ratio: Return per unit of downside risk	2.21	4.70	-2.49
Omega ratio: Gain probability vs. loss probability	1.27	1.60	-0.33
Calmar ratio: Return relative to maximum drawdown	2.73	7.66	-4.92
Martin ratio: Return relative to average drawdown	6.80	20.53	-13.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NCLR.L vs. HTWG.L - Sharpe Ratio Comparison

The current NCLR.L Sharpe Ratio is 1.64, which is lower than the HTWG.L Sharpe Ratio of 4.05. The chart below compares the historical Sharpe Ratios of NCLR.L and HTWG.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

	NCLR.L	HTWG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	4.05	-2.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.29	-0.07	+2.36

Drawdowns

NCLR.L vs. HTWG.L - Drawdown Comparison

The maximum NCLR.L drawdown since its inception was -28.14%, smaller than the maximum HTWG.L drawdown of -63.70%. Use the drawdown chart below to compare losses from any high point for NCLR.L and HTWG.L.

Drawdown Indicators

	NCLR.L	HTWG.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.14%	-63.70%	+35.56%
Max Drawdown (1Y) Largest decline over 1 year	-28.14%	-15.13%	-13.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-32.33%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.98%	—
Current Drawdown Current decline from peak	-17.44%	-9.89%	-7.55%
Average Drawdown Average peak-to-trough decline	-8.08%	-42.92%	+34.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.32%	5.65%	+5.67%

Volatility

NCLR.L vs. HTWG.L - Volatility Comparison

WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L) has a higher volatility of 13.97% compared to L&G Hydrogen Economy UCITS ETF (HTWG.L) at 10.99%. This indicates that NCLR.L's price experiences larger fluctuations and is considered to be riskier than HTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCLR.L	HTWG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.97%	10.99%	+2.98%
Volatility (6M) Calculated over the trailing 6-month period	34.18%	18.16%	+16.02%
Volatility (1Y) Calculated over the trailing 1-year period	47.09%	28.63%	+18.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.30%	26.12%	+21.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.30%	26.48%	+20.82%

NCLR.L vs. HTWG.L - Expense Ratio Comparison

NCLR.L has a 0.45% expense ratio, which is lower than HTWG.L's 0.49% expense ratio.

Dividends

NCLR.L vs. HTWG.L - Dividend Comparison

Neither NCLR.L nor HTWG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NCLR.L and HTWG.L in my portfolio?

NCLR.L and HTWG.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.

Which ETF is better, NCLR.L or HTWG.L?

On fees, NCLR.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NCLR.L or HTWG.L?

NCLR.L is cheaper with a 0.45% expense ratio, compared with 0.49% for HTWG.L.

What is the main difference between NCLR.L and HTWG.L?

NCLR.L tracks WisdomTree Uranium and Nuclear Energy UCITS Index, while HTWG.L tracks Solactive Hydrogen Economy Index NTR. They also come from different issuers: WisdomTree and L&G. Their fees differ too: 0.45% for NCLR.L and 0.49% for HTWG.L.