TBLU vs. TNUK

Last updated Jun 26, 2026

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. A 0.53 correlation means they provide meaningful diversification when combined. 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.

Returns By Period

In the year-to-date period, TBLU achieves a 2.38% return, which is significantly higher than TNUK's 1.23% return.

TBLU

• 1D: 1.69%
• 1M: 3.33%
• YTD: 2.38%
• 6M: 0.79%
• 1Y: 2.16%
• 3Y*: 10.74%
• 5Y*: 4.92%
• 10Y*: —

TNUK

• 1D: -0.55%
• 1M: -4.78%
• YTD: 1.23%
• 6M: -1.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TBLU vs. TNUK - Yearly Performance Comparison

	2026 (YTD)	2025
TBLU Tortoise Global Water Fund	2.38%	-0.29%
TNUK Tortoise Nuclear Renaissance ETF	1.23%	0.34%

Correlation

The correlation between TBLU and TNUK is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.53

TBLU vs. TNUK - Sectors Allocation Comparison

Sectors	TBLU	TNUK
Industrials	65.7%	47.8%
Utilities	24.1%	28.6%
Basic Materials	7.4%	0.1%
Consumer Defensive	1.0%	-
Consumer Cyclical	0.7%	-
Technology	0.6%	0.1%
Energy	0.5%	23.4%
Communication Services	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

TBLU vs. TNUK — Risk / Return Rank

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

TBLU

TBLU Risk / Return Rank: 10
TBLU Sharpe Ratio Rank: 11
TBLU Sortino Ratio Rank: 10
TBLU Omega Ratio Rank: 10
TBLU Calmar Ratio Rank: 11
TBLU Martin Ratio Rank: 10

TNUK

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

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.

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.

	TBLU	TNUK	Difference
Sharpe ratio: Return per unit of total volatility	0.15	—	—
Sortino ratio: Return per unit of downside risk	0.32	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.16	—	—
Martin ratio: Return relative to average drawdown	0.36	—	—

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 -21.57%. Use the drawdown chart below to compare losses from any high point for TBLU and TNUK.

Drawdown Indicators

	TBLU	TNUK	Difference
Max Drawdown Largest peak-to-trough decline	-37.58%	-21.57%	-16.01%
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	-7.71%	-15.48%	+7.77%
Average Drawdown Average peak-to-trough decline	-8.16%	-8.58%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.02%	—	—

Volatility

Volatility by Period

	TBLU	TNUK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	34.56%	-19.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.38%	34.56%	-17.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	34.56%	-15.61%

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 4.24%, while TNUK has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TBLU Tortoise Global Water Fund	4.24%	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

Can I hold both TBLU and TNUK in my portfolio?

TBLU and TNUK have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TBLU or TNUK?

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.

Which ETF is cheaper, TBLU or TNUK?

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

Which ETF pays a higher dividend yield, TBLU or TNUK?

TBLU has the higher dividend yield at 4.24%, compared with 0.00% for TNUK.

What is the main difference between TBLU and 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.