URAN vs. CLIP

Last updated Jun 4, 2026

URAN (Themes Uranium & Nuclear ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - URAN is a Commodity Producers Equities fund tracking the BITA Global Uranium and Nuclear Select Index, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. Both are passively managed. Over the past year, URAN returned 28.74% vs 3.96% for CLIP. At a correlation of -0.06, they often move in opposite directions. URAN charges 0.35%/yr vs 0.07%/yr for CLIP.

Performance

URAN vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Uranium & Nuclear ETF (URAN) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URAN achieves a 5.17% return, which is significantly higher than CLIP's 1.50% return.

URAN

• 1D: -3.96%
• 1M: -5.96%
• YTD: 5.17%
• 6M: 2.21%
• 1Y: 28.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URAN vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAN Themes Uranium & Nuclear ETF	5.17%	49.05%	4.09%
CLIP Global X 1-3 Month T-Bill ETF	1.50%	4.23%	1.26%

Correlation

The correlation between URAN and CLIP is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	-0.06

Return for Risk

URAN vs. CLIP — Risk / Return Rank

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

URAN

URAN Risk / Return Rank: 22
URAN Sharpe Ratio Rank: 21
URAN Sortino Ratio Rank: 23
URAN Omega Ratio Rank: 21
URAN Calmar Ratio Rank: 24
URAN Martin Ratio Rank: 20

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

URAN vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Uranium & Nuclear ETF (URAN) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	URAN	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	0.73	17.26	-16.52
Sortino ratio: Return per unit of downside risk	1.25	72.02	-70.78
Omega ratio: Gain probability vs. loss probability	1.15	20.66	-19.52
Calmar ratio: Return relative to maximum drawdown	1.14	142.22	-141.08
Martin ratio: Return relative to average drawdown	2.27	1,151.15	-1,148.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URAN vs. CLIP - Sharpe Ratio Comparison

The current URAN Sharpe Ratio is 0.73, which is lower than the CLIP Sharpe Ratio of 17.26. The chart below compares the historical Sharpe Ratios of URAN and CLIP, 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

	URAN	CLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	17.26	-16.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	10.71	-9.84

Drawdowns

URAN vs. CLIP - Drawdown Comparison

The maximum URAN drawdown since its inception was -31.96%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for URAN and CLIP.

Drawdown Indicators

	URAN	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-31.96%	-0.08%	-31.88%
Max Drawdown (1Y) Largest decline over 1 year	-25.31%	-0.03%	-25.28%
Current Drawdown Current decline from peak	-20.16%	0.00%	-20.16%
Average Drawdown Average peak-to-trough decline	-10.75%	-0.00%	-10.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.71%	0.00%	+12.71%

Volatility

URAN vs. CLIP - Volatility Comparison

Themes Uranium & Nuclear ETF (URAN) has a higher volatility of 12.29% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.06%. This indicates that URAN's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URAN	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.29%	0.06%	+12.23%
Volatility (6M) Calculated over the trailing 6-month period	29.33%	0.14%	+29.19%
Volatility (1Y) Calculated over the trailing 1-year period	39.47%	0.23%	+39.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.13%	0.44%	+38.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.13%	0.44%	+38.69%

URAN vs. CLIP - Expense Ratio Comparison

URAN has a 0.35% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

URAN vs. CLIP - Dividend Comparison

URAN's dividend yield for the trailing twelve months is around 2.44%, less than CLIP's 3.91% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%
URAN Themes Uranium & Nuclear ETF	2.44%	2.56%	0.21%	0.00%

Frequently Asked Questions

Can I hold both URAN and CLIP in my portfolio?

URAN and CLIP have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URAN or CLIP?

URAN has higher volatility (12.29%) compared to CLIP (0.06%). In terms of maximum drawdown, URAN dropped -31.96% vs CLIP's -0.08%.

Which ETF is better, URAN or CLIP?

On 1-year performance, URAN leads with 28.74% vs 3.96% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAN or CLIP?

Over the 1-year period, URAN has performed better with a 28.74% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAN or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.35% for URAN.

Which ETF pays a higher dividend yield, URAN or CLIP?

CLIP has the higher dividend yield at 3.91%, compared with 2.44% for URAN.

What is the main difference between URAN and CLIP?

URAN is categorized as Commodity Producers Equities, while CLIP is Ultrashort Bond. URAN tracks BITA Global Uranium and Nuclear Select Index, while CLIP tracks Solactive 1-3 month US T-Bill Index - USD. They also come from different issuers: Themes and Global X. Their fees differ too: 0.35% for URAN and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 0.73), 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.