UPGR vs. NIKL

Last updated Jul 18, 2026

UPGR (Xtrackers US Green Infrastructure Select Equity ETF) and NIKL (Sprott Nickel Miners ETF) are both Energy Equities funds - UPGR tracks the Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross while NIKL tracks the Nasdaq Sprott Nickel Miners Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, UPGR returned 0.14%/yr vs -9.15%/yr for NIKL. At a 0.41 correlation, their price movements are largely independent. UPGR charges 0.35%/yr vs 0.75%/yr for NIKL.

Performance

UPGR vs. NIKL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers US Green Infrastructure Select Equity ETF (UPGR) and Sprott Nickel Miners ETF (NIKL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UPGR achieves a 4.49% return, which is significantly higher than NIKL's -17.42% return.

UPGR

• 1D: 0.23%
• 1M: -6.24%
• 6M: -4.91%
• YTD: 4.49%
• 1Y: 25.60%
• 3Y*: 0.14%
• 5Y*: —
• 10Y*: —

NIKL

• 1D: -0.69%
• 1M: -10.29%
• 6M: -30.24%
• YTD: -17.42%
• 1Y: 10.19%
• 3Y*: -9.15%
• 5Y*: —
• 10Y*: —

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

UPGR vs. NIKL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UPGR Xtrackers US Green Infrastructure Select Equity ETF	4.49%	35.25%	-14.72%	-15.29%
NIKL Sprott Nickel Miners ETF	-17.42%	52.05%	-22.48%	-24.36%

Correlation

The correlation between UPGR and NIKL is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023	0.41

UPGR vs. NIKL - Sectors Allocation Comparison

Sectors	UPGR	NIKL
Industrials	56.6%	3.5%
Energy	11.1%	-
Basic Materials	9.7%	64.7%
Utilities	8.6%	-
Consumer Cyclical	8.2%	-
Technology	3.7%	-
Consumer Defensive	1.9%	-
Financial Services	0.0%	-
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

UPGR vs. NIKL — Risk / Return Rank

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

UPGR

UPGR Risk / Return Rank: 30
UPGR Sharpe Ratio Rank: 27
UPGR Sortino Ratio Rank: 28
UPGR Omega Ratio Rank: 26
UPGR Calmar Ratio Rank: 37
UPGR Martin Ratio Rank: 30

NIKL

NIKL Risk / Return Rank: 14
NIKL Sharpe Ratio Rank: 14
NIKL Sortino Ratio Rank: 15
NIKL Omega Ratio Rank: 15
NIKL Calmar Ratio Rank: 14
NIKL Martin Ratio Rank: 14

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.

UPGR vs. NIKL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers US Green Infrastructure Select Equity ETF (UPGR) and Sprott Nickel Miners ETF (NIKL). 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.

	UPGR	NIKL	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.24	+0.56
Sortino ratio: Return per unit of downside risk	1.26	0.64	+0.63
Omega ratio: Gain probability vs. loss probability	1.15	1.08	+0.07
Calmar ratio: Return relative to maximum drawdown	1.52	0.26	+1.26
Martin ratio: Return relative to average drawdown	3.27	0.59	+2.68

UPGR vs. NIKL - Sharpe Ratio Comparison

The current UPGR Sharpe Ratio is 0.79, which is higher than the NIKL Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of UPGR and NIKL, 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

UPGR vs. NIKL - Drawdown Comparison

The maximum UPGR drawdown since its inception was -46.60%, smaller than the maximum NIKL drawdown of -60.23%. Use the drawdown chart below to compare losses from any high point for UPGR and NIKL.

Drawdown Indicators

	UPGR	NIKL	Difference
Max Drawdown Largest peak-to-trough decline	-46.60%	-60.23%	+13.63%
Max Drawdown (1Y) Largest decline over 1 year	-16.90%	-38.85%	+21.95%
Max Drawdown (3Y) Largest decline over 3 years	-46.57%	-58.36%	+11.79%
Current Drawdown Current decline from peak	-16.58%	-36.91%	+20.33%
Average Drawdown Average peak-to-trough decline	-20.13%	-26.86%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.84%	17.20%	-9.36%

Volatility

UPGR vs. NIKL - Volatility Comparison

Xtrackers US Green Infrastructure Select Equity ETF (UPGR) has a higher volatility of 11.02% compared to Sprott Nickel Miners ETF (NIKL) at 9.64%. This indicates that UPGR's price experiences larger fluctuations and is considered to be riskier than NIKL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPGR	NIKL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.02%	9.64%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	23.33%	35.13%	-11.80%
Volatility (1Y) Calculated over the trailing 1-year period	32.53%	42.89%	-10.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.97%	32.96%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.97%	32.96%	-1.99%

UPGR vs. NIKL - Expense Ratio Comparison

UPGR has a 0.35% expense ratio, which is lower than NIKL's 0.75% expense ratio.

Dividends

UPGR vs. NIKL - Dividend Comparison

UPGR's dividend yield for the trailing twelve months is around 0.31%, less than NIKL's 3.06% yield.

Position	TTM	2025	2024	2023
NIKL Sprott Nickel Miners ETF	3.06%	2.53%	3.49%	19.52%
UPGR Xtrackers US Green Infrastructure Select Equity ETF	0.31%	0.39%	1.16%	0.32%

Frequently Asked Questions

Can I hold both UPGR and NIKL in my portfolio?

UPGR and NIKL have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPGR or NIKL?

UPGR has higher volatility (11.02%) compared to NIKL (9.64%). In terms of maximum drawdown, UPGR dropped -46.60% vs NIKL's -60.23%.

Which ETF is better, UPGR or NIKL?

On 3-year performance, UPGR leads with 0.14% vs -9.15% for NIKL. On fees, UPGR is cheaper at 0.35% per year. On volatility, NIKL has been the lower-risk option at 9.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPGR or NIKL?

Over the 3-year period, UPGR has performed better with a 0.14% return vs -9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPGR or NIKL?

UPGR is cheaper with a 0.35% expense ratio, compared with 0.75% for NIKL.

Which ETF pays a higher dividend yield, UPGR or NIKL?

NIKL has the higher dividend yield at 3.06%, compared with 0.31% for UPGR.

What is the main difference between UPGR and NIKL?

UPGR tracks Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross, while NIKL tracks Nasdaq Sprott Nickel Miners Index - Benchmark TR Gross. They also come from different issuers: Xtrackers and Sprott. Their fees differ too: 0.35% for UPGR and 0.75% for NIKL.

Which has better risk-adjusted returns?

UPGR currently has the higher Sharpe Ratio (0.79 vs 0.24), 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.