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TBLU vs. TNUK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TBLU vs. TNUK

Last updated Aug 5, 2026
Documentation

TBLU (Tortoise Global Water Fund) and TNUK (Tortoise Nuclear Renaissance ETF) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while TNUK is a Energy Equities fund actively managed by Tortoise. TBLU is passively managed, while TNUK is actively managed. Their 0.50 correlation means their historical movements had little consistent relationship. TBLU charges 0.40%/yr vs 0.75%/yr for TNUK.

Performance

TBLU vs. TNUK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Global Water Fund (TBLU) and Tortoise Nuclear Renaissance ETF (TNUK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TBLU achieves a 4.97% return, which is significantly higher than TNUK's -1.65% return.

TBLU

1D
1.93%
1M
1.77%
6M
-1.46%
YTD
4.97%
1Y
2.81%
3Y*
10.79%
5Y*
3.96%
10Y*
—
ALL TIME*
10.11%

TNUK

1D
2.52%
1M
0.07%
6M
-13.83%
YTD
-1.65%
1Y
—
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

TBLU

Tortoise Global Water Fund
$70.51K$63.53K$112.51K

TNUK

Tortoise Nuclear Renaissance ETF
$23.03K$20.73K$25.46K

TBLU vs. TNUK - Yearly Performance Comparison

2026 (YTD)2025
TBLU
Tortoise Global Water Fund		4.97%-0.29%
TNUK
Tortoise Nuclear Renaissance ETF		-1.65%0.34%

Correlation

The correlation between TBLU and TNUK is 0.50, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (All Time)
Calculated using the full available price history since Dec 18, 2025

0.50

TBLU vs. TNUK - Sectors Allocation Comparison

Sectors
TBLU
TNUK

Industrials

64.2%
53.0%

Utilities

24.6%
23.9%

Basic Materials

7.9%
0.1%

Consumer Defensive

1.0%

-

Consumer Cyclical

0.8%

-

Technology

0.7%
0.1%

Energy

0.6%
23.1%

Communication Services

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Industrials

TBLU
64.2%
TNUK
53.0%

Utilities

TBLU
24.6%
TNUK
23.9%

Basic Materials

TBLU
7.9%
TNUK
0.1%

Consumer Defensive

TBLU
1.0%
TNUK

-

Consumer Cyclical

TBLU
0.8%
TNUK

-

Technology

TBLU
0.7%
TNUK
0.1%

Energy

TBLU
0.6%
TNUK
23.1%

Communication Services

TBLU

-

TNUK

-

Financial Services

TBLU

-

TNUK

-

Healthcare

TBLU

-

TNUK

-

Real Estate

TBLU

-

TNUK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Tortoise Global Water Fund

Tortoise Nuclear Renaissance ETF

Often compared with TBLU:
TBLU vs. CGWTBLU vs. FIWTBLU vs. PHOTBLU vs. TCAITBLU vs. PIOTBLU vs. AQWATBLU vs. TPYP
Often compared with TNUK:
TNUK vs. DVXETNUK vs. GXPETNUK vs. TCAITNUK vs. TPYPTNUK vs. VDETNUK vs. IEZTNUK vs. FENY

Return for Risk

TBLU vs. TNUK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
TBLU
TBLU Risk / Return Rank: 1313
Overall Rank
TBLU Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
TBLU Sortino Ratio Rank: 1313
Sortino Ratio Rank
TBLU Omega Ratio Rank: 1313
Omega Ratio Rank
TBLU Calmar Ratio Rank: 1313
Calmar Ratio Rank
TBLU Martin Ratio Rank: 1313
Martin Ratio Rank
TNUK

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TBLU vs. TNUK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) and Tortoise Nuclear Renaissance ETF (TNUK). 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.

TBLUTNUKDifference
Sharpe ratioReturn per unit of total volatility
0.18

—

—

Sortino ratioReturn per unit of downside risk
0.37

—

—

Omega ratioGain probability vs. loss probability

1.04

—

—

Calmar ratioReturn relative to maximum drawdown

0.21

—

—

Martin ratioReturn relative to average drawdown

0.43

—

—

TBLU vs. TNUK - Sharpe Ratio Comparison

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Drawdowns

TBLU vs. TNUK - Drawdown Comparison

The maximum TBLU drawdown since its inception was -37.58%, which is greater than TNUK's maximum drawdown of -25.30%. Use the drawdown chart below to compare losses from any high point for TBLU and TNUK.

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Drawdown Indicators

TBLUTNUKDifference

Max Drawdown

Largest peak-to-trough decline

-37.58%

-25.30%

-12.28%

Max Drawdown (1Y)

Largest decline over 1 year

-13.17%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-15.42%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-35.36%

—

—

Current Drawdown

Current decline from peak

-5.37%

-17.89%

+12.52%

Average Drawdown

Average peak-to-trough decline

-8.15%

-10.54%

+2.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.55%

—

—

Volatility

TBLU vs. TNUK - Volatility Comparison

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Volatility by Period

TBLUTNUKDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.96%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

12.07%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

15.32%

34.22%

-18.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.44%

34.22%

-16.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.91%

34.22%

-15.31%

TBLU vs. TNUK - Expense Ratio Comparison

TBLU has a 0.40% expense ratio, which is lower than TNUK's 0.75% expense ratio.

Dividends

TBLU vs. TNUK - Dividend Comparison

TBLU's dividend yield for the trailing twelve months is around 3.37%, while TNUK has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
TBLU
Tortoise Global Water Fund		3.37%3.31%1.34%1.46%1.64%1.55%1.42%1.58%1.35%1.32%
TNUK
Tortoise Nuclear Renaissance ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TBLU and TNUK have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, TBLU is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TBLU is cheaper with a 0.40% expense ratio, compared with 0.75% for TNUK.

TBLU has the higher dividend yield at 3.37%, compared with 0.00% for TNUK.

TBLU is categorized as Water Equities, while TNUK is Energy Equities. Their fees differ too: 0.40% for TBLU and 0.75% for TNUK.

Portfolio Optimizer

Find the right allocation for TBLU and TNUK

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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