URNU.L vs. IUES.L

Last updated Jun 5, 2026

URNU.L (Global X Uranium UCITS ETF USD Acc) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - URNU.L is a Commodity Producers Equities fund tracking the Solactive Global Uranium & Nuclear Components Total Return v2 Index, while IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, URNU.L returned 39.46%/yr vs 16.84%/yr for IUES.L. At a 0.21 correlation, their price movements are largely independent. URNU.L charges 0.65%/yr vs 0.15%/yr for IUES.L.

Performance

URNU.L vs. IUES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Uranium UCITS ETF USD Acc (URNU.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URNU.L achieves a 17.09% return, which is significantly lower than IUES.L's 30.45% return.

URNU.L

• 1D: -1.01%
• 1M: -12.88%
• YTD: 17.09%
• 6M: 7.65%
• 1Y: 58.87%
• 3Y*: 39.46%
• 5Y*: —
• 10Y*: —

IUES.L

• 1D: -0.36%
• 1M: 3.36%
• YTD: 30.45%
• 6M: 28.34%
• 1Y: 47.07%
• 3Y*: 16.84%
• 5Y*: 20.33%
• 10Y*: 9.21%

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

URNU.L vs. IUES.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
URNU.L Global X Uranium UCITS ETF USD Acc	17.09%	70.47%	1.22%	39.91%	3.03%
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc)	30.45%	9.82%	3.87%	-0.63%	3.08%

Correlation

The correlation between URNU.L and IUES.L is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Dec 20, 2022	0.21

The correlation between URNU.L and IUES.L shifts across timeframes, from -0.11 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

URNU.L vs. IUES.L - Sectors Allocation Comparison

Sectors	URNU.L	IUES.L
Energy	60.4%	100.0%
Industrials	25.4%	-
Utilities	9.0%	-
Basic Materials	4.3%	-
Technology	0.9%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

URNU.L vs. IUES.L — Risk / Return Rank

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

URNU.L

URNU.L Risk / Return Rank: 34
URNU.L Sharpe Ratio Rank: 34
URNU.L Sortino Ratio Rank: 36
URNU.L Omega Ratio Rank: 33
URNU.L Calmar Ratio Rank: 38
URNU.L Martin Ratio Rank: 31

IUES.L

IUES.L Risk / Return Rank: 60
IUES.L Sharpe Ratio Rank: 65
IUES.L Sortino Ratio Rank: 56
IUES.L Omega Ratio Rank: 59
IUES.L Calmar Ratio Rank: 65
IUES.L Martin Ratio Rank: 57

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.

URNU.L vs. IUES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Uranium UCITS ETF USD Acc (URNU.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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.

	URNU.L	IUES.L	Difference
Sharpe ratio: Return per unit of total volatility	1.22	2.12	-0.89
Sortino ratio: Return per unit of downside risk	1.84	2.64	-0.80
Omega ratio: Gain probability vs. loss probability	1.22	1.35	-0.14
Calmar ratio: Return relative to maximum drawdown	1.86	3.18	-1.32
Martin ratio: Return relative to average drawdown	4.50	9.97	-5.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URNU.L vs. IUES.L - Sharpe Ratio Comparison

The current URNU.L Sharpe Ratio is 1.22, which is lower than the IUES.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of URNU.L and IUES.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

	URNU.L	IUES.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	2.12	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.31	+0.58

Drawdowns

URNU.L vs. IUES.L - Drawdown Comparison

The maximum URNU.L drawdown since its inception was -38.62%, smaller than the maximum IUES.L drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for URNU.L and IUES.L.

Drawdown Indicators

	URNU.L	IUES.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.62%	-66.78%	+28.16%
Max Drawdown (1Y) Largest decline over 1 year	-33.08%	-14.49%	-18.59%
Max Drawdown (3Y) Largest decline over 3 years	-38.62%	-20.90%	-17.72%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.78%	—
Current Drawdown Current decline from peak	-16.85%	-7.45%	-9.40%
Average Drawdown Average peak-to-trough decline	-10.93%	-14.21%	+3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.72%	4.63%	+9.09%

Volatility

URNU.L vs. IUES.L - Volatility Comparison

Global X Uranium UCITS ETF USD Acc (URNU.L) has a higher volatility of 14.95% compared to iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) at 8.13%. This indicates that URNU.L's price experiences larger fluctuations and is considered to be riskier than IUES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URNU.L	IUES.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.95%	8.13%	+6.82%
Volatility (6M) Calculated over the trailing 6-month period	35.44%	18.58%	+16.86%
Volatility (1Y) Calculated over the trailing 1-year period	50.25%	21.81%	+28.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.61%	26.72%	+13.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.61%	28.49%	+12.12%

URNU.L vs. IUES.L - Expense Ratio Comparison

URNU.L has a 0.65% expense ratio, which is higher than IUES.L's 0.15% expense ratio.

Dividends

URNU.L vs. IUES.L - Dividend Comparison

Neither URNU.L nor IUES.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both URNU.L and IUES.L in my portfolio?

URNU.L and IUES.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, URNU.L or IUES.L?

On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URNU.L or IUES.L?

IUES.L is cheaper with a 0.15% expense ratio, compared with 0.65% for URNU.L.

What is the main difference between URNU.L and IUES.L?

URNU.L is categorized as Commodity Producers Equities, while IUES.L is Energy Equities. URNU.L tracks Solactive Global Uranium & Nuclear Components Total Return v2 Index, while IUES.L tracks MSCI World/Energy NR USD. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for URNU.L and 0.15% for IUES.L.