NUKZ vs. PIPE

Last updated Jul 14, 2026

NUKZ (Range Nuclear Renaissance ETF) and PIPE (Invesco SteelPath MLP & Energy Infrastructure ETF) are both Energy Equities funds. NUKZ is passively managed, while PIPE is actively managed. Over the past year, NUKZ returned 15.46% vs 33.75% for PIPE. At a 0.18 correlation, their price movements are largely independent. NUKZ charges 0.85%/yr vs 0.75%/yr for PIPE.

Performance

NUKZ vs. PIPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Range Nuclear Renaissance ETF (NUKZ) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUKZ achieves a 0.76% return, which is significantly lower than PIPE's 29.69% return.

NUKZ

• 1D: -2.69%
• 1M: -6.34%
• 6M: -7.73%
• YTD: 0.76%
• 1Y: 15.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIPE

• 1D: 1.39%
• 1M: 1.89%
• 6M: 30.75%
• YTD: 29.69%
• 1Y: 33.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUKZ vs. PIPE - Yearly Performance Comparison

	2026 (YTD)	2025
NUKZ Range Nuclear Renaissance ETF	0.76%	32.62%
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	29.69%	0.14%

Correlation

The correlation between NUKZ and PIPE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.18

The correlation between NUKZ and PIPE shifts across timeframes, from -0.02 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

NUKZ vs. PIPE - Sectors Allocation Comparison

Sectors	NUKZ	PIPE
Industrials	46.5%	-
Utilities	35.4%	1.9%
Energy	11.8%	88.7%
Basic Materials	4.7%	-
Technology	1.6%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	1.3%
Healthcare	-	-
Real Estate	-	-

Return for Risk

NUKZ vs. PIPE — Risk / Return Rank

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

NUKZ

NUKZ Risk / Return Rank: 21
NUKZ Sharpe Ratio Rank: 19
NUKZ Sortino Ratio Rank: 20
NUKZ Omega Ratio Rank: 19
NUKZ Calmar Ratio Rank: 24
NUKZ Martin Ratio Rank: 22

PIPE

PIPE Risk / Return Rank: 85
PIPE Sharpe Ratio Rank: 88
PIPE Sortino Ratio Rank: 86
PIPE Omega Ratio Rank: 83
PIPE Calmar Ratio Rank: 91
PIPE Martin Ratio Rank: 76

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.

NUKZ vs. PIPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Range Nuclear Renaissance ETF (NUKZ) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). 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.

	NUKZ	PIPE	Difference
Sharpe ratio: Return per unit of total volatility	0.51	2.29	-1.78
Sortino ratio: Return per unit of downside risk	0.91	3.10	-2.19
Omega ratio: Gain probability vs. loss probability	1.11	1.39	-0.29
Calmar ratio: Return relative to maximum drawdown	0.94	4.62	-3.68
Martin ratio: Return relative to average drawdown	2.08	11.17	-9.09

NUKZ vs. PIPE - Sharpe Ratio Comparison

The current NUKZ Sharpe Ratio is 0.51, which is lower than the PIPE Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of NUKZ and PIPE, 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

NUKZ vs. PIPE - Drawdown Comparison

The maximum NUKZ drawdown since its inception was -33.03%, which is greater than PIPE's maximum drawdown of -15.69%. Use the drawdown chart below to compare losses from any high point for NUKZ and PIPE.

Drawdown Indicators

	NUKZ	PIPE	Difference
Max Drawdown Largest peak-to-trough decline	-33.03%	-15.69%	-17.34%
Max Drawdown (1Y) Largest decline over 1 year	-16.51%	-7.33%	-9.18%
Current Drawdown Current decline from peak	-16.07%	-2.29%	-13.78%
Average Drawdown Average peak-to-trough decline	-6.21%	-4.02%	-2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	3.03%	+4.43%

Volatility

NUKZ vs. PIPE - Volatility Comparison

Range Nuclear Renaissance ETF (NUKZ) has a higher volatility of 8.14% compared to Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) at 5.54%. This indicates that NUKZ's price experiences larger fluctuations and is considered to be riskier than PIPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUKZ	PIPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.14%	5.54%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	23.02%	11.65%	+11.37%
Volatility (1Y) Calculated over the trailing 1-year period	30.65%	14.87%	+15.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.73%	18.71%	+14.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.73%	18.71%	+14.02%

NUKZ vs. PIPE - Expense Ratio Comparison

NUKZ has a 0.85% expense ratio, which is higher than PIPE's 0.75% expense ratio.

Dividends

NUKZ vs. PIPE - Dividend Comparison

NUKZ's dividend yield for the trailing twelve months is around 0.90%, less than PIPE's 3.66% yield.

Position	TTM	2025	2024
NUKZ Range Nuclear Renaissance ETF	0.90%	0.91%	0.09%
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	3.66%	3.74%	0.00%

Frequently Asked Questions

Can I hold both NUKZ and PIPE in my portfolio?

NUKZ and PIPE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUKZ or PIPE?

NUKZ has higher volatility (8.14%) compared to PIPE (5.54%). In terms of maximum drawdown, NUKZ dropped -33.03% vs PIPE's -15.69%.

Which ETF is better, NUKZ or PIPE?

On 1-year performance, PIPE leads with 33.75% vs 15.46% for NUKZ. On fees, PIPE is cheaper at 0.75% per year. On volatility, PIPE has been the lower-risk option at 5.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUKZ or PIPE?

Over the 1-year period, PIPE has performed better with a 33.75% return vs 15.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUKZ or PIPE?

PIPE is cheaper with a 0.75% expense ratio, compared with 0.85% for NUKZ.

Which ETF pays a higher dividend yield, NUKZ or PIPE?

PIPE has the higher dividend yield at 3.66%, compared with 0.90% for NUKZ.

What is the main difference between NUKZ and PIPE?

They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.85% for NUKZ and 0.75% for PIPE.

Which has better risk-adjusted returns?

PIPE currently has the higher Sharpe Ratio (2.29 vs 0.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.