NUCG.L vs. HDRO.L

Last updated Jun 5, 2026

NUCG.L (VanEck Uranium and Nuclear Technologies UCITS ETF) and HDRO.L (VanEck Hydrogen Economy UCITS ETF) are both exchange-traded funds - NUCG.L is a Commodity Producers Equities fund tracking the MarketVector Global Uranium and Nuclear Energy Infrastructure, while HDRO.L is a Alternative Energy Equities fund tracking the MVIS Global Hydrogen Economy ESG Index. Both are passively managed. Over the past 3 years, NUCG.L returned 42.28%/yr vs 7.48%/yr for HDRO.L. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.

Performance

NUCG.L vs. HDRO.L - Performance Comparison

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

Returns By Period

In the year-to-date period, NUCG.L achieves a 13.00% return, which is significantly lower than HDRO.L's 73.36% return.

NUCG.L

• 1D: 1.33%
• 1M: -5.19%
• YTD: 13.00%
• 6M: 3.75%
• 1Y: 52.97%
• 3Y*: 42.28%
• 5Y*: —
• 10Y*: —

HDRO.L

• 1D: -2.63%
• 1M: 1.91%
• YTD: 73.36%
• 6M: 54.65%
• 1Y: 124.36%
• 3Y*: 7.48%
• 5Y*: -10.48%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023
NUCG.L VanEck Uranium and Nuclear Technologies UCITS ETF	13.00%	56.08%	31.87%	19.75%
HDRO.L VanEck Hydrogen Economy UCITS ETF	73.36%	17.70%	-29.88%	-34.32%

Correlation

The correlation between NUCG.L and HDRO.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	0.43
Correlation (All Time) Calculated using the full available price history since Feb 13, 2023	0.43

The correlation between NUCG.L and HDRO.L shifts across timeframes, from 0.43 (3 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.

NUCG.L vs. HDRO.L - Sectors Allocation Comparison

Sectors	NUCG.L	HDRO.L
Energy	48.0%	0.8%
Industrials	41.2%	70.3%
Utilities	9.8%	-
Technology	0.9%	-
Basic Materials	-	27.3%
Communication Services	-	-
Consumer Cyclical	-	0.6%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

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

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

NUCG.L

NUCG.L Risk / Return Rank: 38
NUCG.L Sharpe Ratio Rank: 39
NUCG.L Sortino Ratio Rank: 40
NUCG.L Omega Ratio Rank: 36
NUCG.L Calmar Ratio Rank: 42
NUCG.L Martin Ratio Rank: 32

HDRO.L

HDRO.L Risk / Return Rank: 82
HDRO.L Sharpe Ratio Rank: 92
HDRO.L Sortino Ratio Rank: 86
HDRO.L Omega Ratio Rank: 78
HDRO.L Calmar Ratio Rank: 87
HDRO.L Martin Ratio Rank: 65

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.

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

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

	NUCG.L	HDRO.L	Difference
Sharpe ratio: Return per unit of total volatility	1.37	3.24	-1.87
Sortino ratio: Return per unit of downside risk	2.01	3.85	-1.84
Omega ratio: Gain probability vs. loss probability	1.23	1.46	-0.22
Calmar ratio: Return relative to maximum drawdown	2.05	4.98	-2.92
Martin ratio: Return relative to average drawdown	4.70	11.61	-6.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current NUCG.L Sharpe Ratio is 1.37, which is lower than the HDRO.L Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of NUCG.L and HDRO.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

	NUCG.L	HDRO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	3.24	-1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	-0.31	+1.29

Drawdowns

NUCG.L vs. HDRO.L - Drawdown Comparison

The maximum NUCG.L drawdown since its inception was -35.36%, smaller than the maximum HDRO.L drawdown of -81.30%. Use the drawdown chart below to compare losses from any high point for NUCG.L and HDRO.L.

Drawdown Indicators

	NUCG.L	HDRO.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.36%	-81.30%	+45.94%
Max Drawdown (1Y) Largest decline over 1 year	-26.65%	-24.66%	-1.99%
Max Drawdown (3Y) Largest decline over 3 years	-35.36%	-63.38%	+28.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-81.00%	—
Current Drawdown Current decline from peak	-13.31%	-48.09%	+34.78%
Average Drawdown Average peak-to-trough decline	-9.20%	-54.05%	+44.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.65%	10.59%	+1.06%

Volatility

NUCG.L vs. HDRO.L - Volatility Comparison

The current volatility for VanEck Uranium and Nuclear Technologies UCITS ETF (NUCG.L) is 12.21%, while VanEck Hydrogen Economy UCITS ETF (HDRO.L) has a volatility of 14.75%. This indicates that NUCG.L experiences smaller price fluctuations and is considered to be less risky than HDRO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUCG.L	HDRO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.21%	14.75%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	27.51%	25.15%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	39.88%	37.89%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.92%	38.42%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.92%	38.51%	-1.59%

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

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

Dividends

NUCG.L vs. HDRO.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

NUCG.L and HDRO.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, NUCG.L or HDRO.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, NUCG.L or HDRO.L?

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

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

NUCG.L is categorized as Commodity Producers Equities, while HDRO.L is Alternative Energy Equities. NUCG.L tracks MarketVector Global Uranium and Nuclear Energy Infrastructure, while HDRO.L tracks MVIS Global Hydrogen Economy ESG Index.