SMLP.DE vs. NUKL.DE

Last updated Apr 3, 2026

Compare and contrast key facts about Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc (SMLP.DE) and VanEck Uranium and Nuclear Technologies UCITS ETF A (NUKL.DE).

SMLP.DE and NUKL.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMLP.DE is a passively managed fund by Invesco that tracks the performance of the Morningstar MLP Composite. It was launched on May 15, 2013. NUKL.DE is a passively managed fund by VanEck that tracks the performance of the MarketVector Global Uranium and Nuclear Energy Infrastructure. It was launched on Feb 3, 2023. Both SMLP.DE and NUKL.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SMLP.DE vs. NUKL.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc (SMLP.DE) and VanEck Uranium and Nuclear Technologies UCITS ETF A (NUKL.DE). The values are adjusted to include any dividend payments, if applicable.

SMLP.DE vs. NUKL.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMLP.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc	16.73%	-9.11%	28.88%	9.68%
NUKL.DE VanEck Uranium and Nuclear Technologies UCITS ETF A	7.58%	51.50%	38.03%	24.46%

Returns By Period

In the year-to-date period, SMLP.DE achieves a 16.73% return, which is significantly higher than NUKL.DE's 7.58% return.

SMLP.DE

• 1D: -3.96%
• 1M: -1.51%
• YTD: 16.73%
• 6M: 15.48%
• 1Y: -1.87%
• 3Y*: 15.78%
• 5Y*: 20.74%
• 10Y*: 9.30%

NUKL.DE

• 1D: -1.47%
• 1M: -6.01%
• YTD: 7.58%
• 6M: -0.54%
• 1Y: 95.44%
• 3Y*: 44.00%
• 5Y*: —
• 10Y*: —

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

SMLP.DE vs. NUKL.DE - Expense Ratio Comparison

SMLP.DE has a 0.50% expense ratio, which is lower than NUKL.DE's 0.55% expense ratio.

NUKL.DE

VanEck Uranium and Nuclear Technologies UCITS ETF A

SMLP.DE

Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc

Return for Risk

SMLP.DE vs. NUKL.DE — Risk / Return Rank

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

SMLP.DE

SMLP.DE Risk / Return Rank: 9
SMLP.DE Sharpe Ratio Rank: 10
SMLP.DE Sortino Ratio Rank: 10
SMLP.DE Omega Ratio Rank: 10
SMLP.DE Calmar Ratio Rank: 8
SMLP.DE Martin Ratio Rank: 9

NUKL.DE

NUKL.DE Risk / Return Rank: 88
NUKL.DE Sharpe Ratio Rank: 92
NUKL.DE Sortino Ratio Rank: 91
NUKL.DE Omega Ratio Rank: 82
NUKL.DE Calmar Ratio Rank: 93
NUKL.DE Martin Ratio Rank: 83

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.

SMLP.DE vs. NUKL.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc (SMLP.DE) and VanEck Uranium and Nuclear Technologies UCITS ETF A (NUKL.DE). 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.

	SMLP.DE	NUKL.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.08	2.19	-2.27
Sortino ratio Return per unit of downside risk	0.03	2.76	-2.72
Omega ratio Gain probability vs. loss probability	1.00	1.34	-0.33
Calmar ratio Return relative to maximum drawdown	-0.12	4.00	-4.12
Martin ratio Return relative to average drawdown	-0.23	10.65	-10.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMLP.DE vs. NUKL.DE - Sharpe Ratio Comparison

The current SMLP.DE Sharpe Ratio is -0.08, which is lower than the NUKL.DE Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of SMLP.DE and NUKL.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMLP.DE	NUKL.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	2.19	-2.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	1.13	-1.04

Correlation

The correlation between SMLP.DE and NUKL.DE is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SMLP.DE vs. NUKL.DE - Dividend Comparison

Neither SMLP.DE nor NUKL.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

SMLP.DE vs. NUKL.DE - Drawdown Comparison

The maximum SMLP.DE drawdown since its inception was -79.34%, which is greater than NUKL.DE's maximum drawdown of -37.52%. Use the drawdown chart below to compare losses from any high point for SMLP.DE and NUKL.DE.

Drawdown Indicators

	SMLP.DE	NUKL.DE	Difference
Max Drawdown Largest peak-to-trough decline	-79.34%	-37.52%	-41.82%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	-27.12%	+12.14%
Max Drawdown (5Y) Largest decline over 5 years	-22.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.25%	—	—
Current Drawdown Current decline from peak	-6.25%	-16.03%	+9.78%
Average Drawdown Average peak-to-trough decline	-25.92%	-7.55%	-18.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	10.18%	-2.00%

Volatility

SMLP.DE vs. NUKL.DE - Volatility Comparison

The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc (SMLP.DE) is 5.84%, while VanEck Uranium and Nuclear Technologies UCITS ETF A (NUKL.DE) has a volatility of 12.14%. This indicates that SMLP.DE experiences smaller price fluctuations and is considered to be less risky than NUKL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMLP.DE	NUKL.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	12.14%	-6.30%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	32.63%	-21.78%
Volatility (1Y) Calculated over the trailing 1-year period	20.44%	43.30%	-22.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	33.99%	-13.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.73%	33.99%	-5.26%