SMOG vs. NCLR.L

Last updated Jun 4, 2026

SMOG (VanEck Low Carbon Energy ETF) and NCLR.L (WisdomTree Uranium and Nuclear Energy UCITS ETF) are both Alternative Energy Equities funds - SMOG tracks the MVIS Global Low Carbon Energy Index while NCLR.L tracks the WisdomTree Uranium and Nuclear Energy UCITS Index. Both are passively managed. Over the past year, SMOG returned 42.14% vs 76.10% for NCLR.L. At a 0.40 correlation, their price movements are largely independent. SMOG charges 0.61%/yr vs 0.45%/yr for NCLR.L.

Performance

SMOG vs. NCLR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Low Carbon Energy ETF (SMOG) and WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SMOG is traded in USD, while NCLR.L is traded in GBp. To make them comparable, the NCLR.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SMOG achieves a 18.16% return, which is significantly higher than NCLR.L's 15.68% return.

SMOG

• 1D: -1.20%
• 1M: 0.08%
• YTD: 18.16%
• 6M: 17.43%
• 1Y: 42.14%
• 3Y*: 10.86%
• 5Y*: 1.76%
• 10Y*: 12.70%

NCLR.L

• 1D: -5.41%
• 1M: -9.92%
• YTD: 15.68%
• 6M: 17.68%
• 1Y: 76.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMOG vs. NCLR.L - Yearly Performance Comparison

	2026 (YTD)	2025
SMOG VanEck Low Carbon Energy ETF	18.16%	30.43%
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF	15.68%	121.93%

Correlation

The correlation between SMOG and NCLR.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025	0.40

Return for Risk

SMOG vs. NCLR.L — Risk / Return Rank

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

SMOG

SMOG Risk / Return Rank: 66
SMOG Sharpe Ratio Rank: 62
SMOG Sortino Ratio Rank: 56
SMOG Omega Ratio Rank: 56
SMOG Calmar Ratio Rank: 86
SMOG Martin Ratio Rank: 73

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for VanEck Low Carbon Energy ETF (SMOG) and WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.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.

	SMOG	NCLR.L	Difference
Sharpe ratio Return per unit of total volatility	2.07	1.56	+0.51
Sortino ratio Return per unit of downside risk	2.69	2.14	+0.55
Omega ratio Gain probability vs. loss probability	1.35	1.26	+0.09
Calmar ratio Return relative to maximum drawdown	4.80	2.54	+2.26
Martin ratio Return relative to average drawdown	13.62	6.10	+7.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMOG vs. NCLR.L - Sharpe Ratio Comparison

The current SMOG Sharpe Ratio is 2.07, which is higher than the NCLR.L Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of SMOG and NCLR.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

	SMOG	NCLR.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	1.56	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	2.35	-2.28

Drawdowns

SMOG vs. NCLR.L - Drawdown Comparison

The maximum SMOG drawdown since its inception was -84.39%, which is greater than NCLR.L's maximum drawdown of -29.77%. Use the drawdown chart below to compare losses from any high point for SMOG and NCLR.L.

Drawdown Indicators

	SMOG	NCLR.L	Difference
Max Drawdown Largest peak-to-trough decline	-84.39%	-29.77%	-54.62%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-29.77%	+20.95%
Max Drawdown (3Y) Largest decline over 3 years	-28.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.10%	—	—
Current Drawdown Current decline from peak	-14.61%	-19.71%	+5.10%
Average Drawdown Average peak-to-trough decline	-52.47%	-8.78%	-43.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	12.44%	-9.34%

Volatility

SMOG vs. NCLR.L - Volatility Comparison

The current volatility for VanEck Low Carbon Energy ETF (SMOG) is 7.43%, while WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L) has a volatility of 14.65%. This indicates that SMOG experiences smaller price fluctuations and is considered to be less risky than NCLR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMOG	NCLR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	14.65%	-7.22%
Volatility (6M) Calculated over the trailing 6-month period	15.46%	35.59%	-20.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.49%	48.50%	-28.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	49.13%	-24.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.73%	49.13%	-23.40%

SMOG vs. NCLR.L - Expense Ratio Comparison

SMOG has a 0.61% expense ratio, which is higher than NCLR.L's 0.45% expense ratio.

Dividends

SMOG vs. NCLR.L - Dividend Comparison

SMOG's dividend yield for the trailing twelve months is around 1.33%, while NCLR.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMOG VanEck Low Carbon Energy ETF	1.33%	1.57%	1.64%	1.58%	1.32%	0.44%	0.06%	0.00%	0.62%	1.25%	2.12%	0.56%

Frequently Asked Questions

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

SMOG and NCLR.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

NCLR.L is cheaper with a 0.45% expense ratio, compared with 0.61% for SMOG.

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

SMOG tracks MVIS Global Low Carbon Energy Index, while NCLR.L tracks WisdomTree Uranium and Nuclear Energy UCITS Index. They also come from different issuers: VanEck and WisdomTree. Their fees differ too: 0.61% for SMOG and 0.45% for NCLR.L.