NRJL.L vs. MNS.TO

Last updated Jul 1, 2026

NRJL.L (Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist) and MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) are both exchange-traded funds - NRJL.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD, while MNS.TO is a Silver fund tracking the N/A (Physical Bullion). Both are passively managed. Over the past 5 years, NRJL.L returned 2.89%/yr vs 17.93%/yr for MNS.TO. At a 0.10 correlation, their price movements are largely independent. NRJL.L charges 0.60%/yr vs 0.45%/yr for MNS.TO.

Performance

NRJL.L vs. MNS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) and Royal Canadian Mint - Canadian Silver Reserves (MNS.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NRJL.L is traded in GBP, while MNS.TO is traded in CAD. To make them comparable, the MNS.TO values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, NRJL.L achieves a 38.38% return, which is significantly higher than MNS.TO's -24.46% return.

NRJL.L

• 1D: 2.18%
• 1M: -0.27%
• YTD: 38.38%
• 6M: 37.58%
• 1Y: 79.01%
• 3Y*: 11.14%
• 5Y*: 2.89%
• 10Y*: 9.77%

MNS.TO

• 1D: 2.89%
• 1M: -19.62%
• YTD: -24.46%
• 6M: -28.00%
• 1Y: 64.95%
• 3Y*: 37.08%
• 5Y*: 17.93%
• 10Y*: —

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

NRJL.L vs. MNS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	38.38%	35.47%	-11.56%	-22.87%	-8.74%	-5.40%	33.09%	47.31%	-7.75%	15.17%
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	-24.46%	154.12%	32.95%	-8.37%	10.76%	-14.62%	44.86%	10.21%	-3.90%	-3.61%

Correlation

The correlation between NRJL.L and MNS.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Sep 27, 2016	0.10

The correlation between NRJL.L and MNS.TO shifts across timeframes, from 0.10 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NRJL.L vs. MNS.TO — Risk / Return Rank

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

NRJL.L

NRJL.L Risk / Return Rank: 96
NRJL.L Sharpe Ratio Rank: 97
NRJL.L Sortino Ratio Rank: 95
NRJL.L Omega Ratio Rank: 95
NRJL.L Calmar Ratio Rank: 96
NRJL.L Martin Ratio Rank: 96

MNS.TO

MNS.TO Risk / Return Rank: 33
MNS.TO Sharpe Ratio Rank: 36
MNS.TO Sortino Ratio Rank: 31
MNS.TO Omega Ratio Rank: 42
MNS.TO Calmar Ratio Rank: 31
MNS.TO Martin Ratio Rank: 26

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.

NRJL.L vs. MNS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) and Royal Canadian Mint - Canadian Silver Reserves (MNS.TO). 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.

	NRJL.L	MNS.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.73	1.19	+2.54
Sortino ratio: Return per unit of downside risk	4.34	1.56	+2.78
Omega ratio: Gain probability vs. loss probability	1.61	1.24	+0.36
Calmar ratio: Return relative to maximum drawdown	7.92	1.38	+6.53
Martin ratio: Return relative to average drawdown	28.54	3.28	+25.26

NRJL.L vs. MNS.TO - Sharpe Ratio Comparison

The current NRJL.L Sharpe Ratio is 3.73, which is higher than the MNS.TO Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of NRJL.L and MNS.TO, 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

NRJL.L vs. MNS.TO - Drawdown Comparison

The maximum NRJL.L drawdown since its inception was -54.56%, which is greater than MNS.TO's maximum drawdown of -47.22%. Use the drawdown chart below to compare losses from any high point for NRJL.L and MNS.TO.

Drawdown Indicators

	NRJL.L	MNS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-54.56%	-47.22%	-7.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.93%	-47.22%	+37.29%
Max Drawdown (3Y) Largest decline over 3 years	-39.16%	-47.22%	+8.06%
Max Drawdown (5Y) Largest decline over 5 years	-54.10%	-47.22%	-6.88%
Max Drawdown (10Y) Largest decline over 10 years	-54.56%	—	—
Current Drawdown Current decline from peak	-3.27%	-43.16%	+39.89%
Average Drawdown Average peak-to-trough decline	-23.11%	-16.87%	-6.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	19.84%	-17.08%

Volatility

NRJL.L vs. MNS.TO - Volatility Comparison

The current volatility for Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) is 9.59%, while Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) has a volatility of 14.10%. This indicates that NRJL.L experiences smaller price fluctuations and is considered to be less risky than MNS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRJL.L	MNS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.59%	14.10%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	17.37%	50.92%	-33.55%
Volatility (1Y) Calculated over the trailing 1-year period	21.06%	54.72%	-33.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.92%	34.00%	-12.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	31.25%	-9.93%

NRJL.L vs. MNS.TO - Expense Ratio Comparison

NRJL.L has a 0.60% expense ratio, which is higher than MNS.TO's 0.45% expense ratio.

Dividends

NRJL.L vs. MNS.TO - Dividend Comparison

NRJL.L's dividend yield for the trailing twelve months is around 0.30%, while MNS.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	0.30%	0.42%	0.73%	0.77%	0.24%	0.32%	0.70%	1.02%	0.59%	0.79%

Frequently Asked Questions

Can I hold both NRJL.L and MNS.TO in my portfolio?

NRJL.L and MNS.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NRJL.L or MNS.TO?

On fees, MNS.TO 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, NRJL.L or MNS.TO?

MNS.TO is cheaper with a 0.45% expense ratio, compared with 0.60% for NRJL.L.

What is the main difference between NRJL.L and MNS.TO?

NRJL.L is categorized as Energy Equities, while MNS.TO is Silver. NRJL.L tracks S&P Global Clean Energy TR USD, while MNS.TO tracks N/A (Physical Bullion). They also come from different issuers: Amundi and Royal Canadian Mint. Their fees differ too: 0.60% for NRJL.L and 0.45% for MNS.TO.