ZCLN.TO vs. NCLR.L

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Clean Energy Index ETF (ZCLN.TO) and WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L).

ZCLN.TO and NCLR.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZCLN.TO is a passively managed fund by BMO that tracks the performance of the S&P Global Clean Energy Index. It was launched on Jan 26, 2021. NCLR.L is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Uranium and Nuclear Energy UCITS Index. It was launched on Mar 5, 2025. Both ZCLN.TO and NCLR.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZCLN.TO vs. NCLR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Clean Energy Index ETF (ZCLN.TO) and WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L). The values are adjusted to include any dividend payments, if applicable.

ZCLN.TO vs. NCLR.L - Yearly Performance Comparison

	2026 (YTD)	2025
ZCLN.TO BMO Clean Energy Index ETF	12.59%	36.82%
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF	12.61%	110.96%

Different Trading Currencies

ZCLN.TO is traded in CAD, while NCLR.L is traded in GBp. To make them comparable, the NCLR.L values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with ZCLN.TO having a 12.59% return and NCLR.L slightly higher at 12.61%.

ZCLN.TO

• 1D: 3.39%
• 1M: 2.58%
• YTD: 12.59%
• 6M: 16.82%
• 1Y: 55.63%
• 3Y*: -0.61%
• 5Y*: -2.35%
• 10Y*: —

NCLR.L

• 1D: -0.04%
• 1M: -15.16%
• YTD: 12.61%
• 6M: 7.56%
• 1Y: 144.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZCLN.TO vs. NCLR.L - Expense Ratio Comparison

ZCLN.TO has a 0.39% expense ratio, which is lower than NCLR.L's 0.45% expense ratio.

NCLR.L

WisdomTree Uranium and Nuclear Energy UCITS ETF

ZCLN.TO

BMO Clean Energy Index ETF

Return for Risk

ZCLN.TO vs. NCLR.L — Risk / Return Rank

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

ZCLN.TO

ZCLN.TO Risk / Return Rank: 91
ZCLN.TO Sharpe Ratio Rank: 92
ZCLN.TO Sortino Ratio Rank: 92
ZCLN.TO Omega Ratio Rank: 84
ZCLN.TO Calmar Ratio Rank: 95
ZCLN.TO Martin Ratio Rank: 90

NCLR.L

NCLR.L Risk / Return Rank: 96
NCLR.L Sharpe Ratio Rank: 98
NCLR.L Sortino Ratio Rank: 96
NCLR.L Omega Ratio Rank: 94
NCLR.L Calmar Ratio Rank: 97
NCLR.L Martin Ratio Rank: 94

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.

ZCLN.TO vs. NCLR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Clean Energy Index ETF (ZCLN.TO) and WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.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.

	ZCLN.TO	NCLR.L	Difference
Sharpe ratio Return per unit of total volatility	2.10	2.98	-0.89
Sortino ratio Return per unit of downside risk	2.77	3.32	-0.55
Omega ratio Gain probability vs. loss probability	1.34	1.42	-0.08
Calmar ratio Return relative to maximum drawdown	4.23	4.79	-0.56
Martin ratio Return relative to average drawdown	11.99	12.88	-0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZCLN.TO vs. NCLR.L - Sharpe Ratio Comparison

The current ZCLN.TO Sharpe Ratio is 2.10, which is comparable to the NCLR.L Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of ZCLN.TO and NCLR.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZCLN.TO	NCLR.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.98	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	2.64	-2.93

Correlation

The correlation between ZCLN.TO and NCLR.L is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZCLN.TO vs. NCLR.L - Dividend Comparison

ZCLN.TO's dividend yield for the trailing twelve months is around 1.52%, while NCLR.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
ZCLN.TO BMO Clean Energy Index ETF	1.52%	1.71%	2.13%	1.37%	0.93%	0.83%
NCLR.L WisdomTree Uranium and Nuclear Energy UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ZCLN.TO vs. NCLR.L - Drawdown Comparison

The maximum ZCLN.TO drawdown since its inception was -61.07%, which is greater than NCLR.L's maximum drawdown of -29.48%. Use the drawdown chart below to compare losses from any high point for ZCLN.TO and NCLR.L.

Drawdown Indicators

	ZCLN.TO	NCLR.L	Difference
Max Drawdown Largest peak-to-trough decline	-61.07%	-28.14%	-32.93%
Max Drawdown (1Y) Largest decline over 1 year	-12.95%	-28.14%	+15.19%
Max Drawdown (5Y) Largest decline over 5 years	-50.26%	—	—
Current Drawdown Current decline from peak	-34.06%	-19.55%	-14.51%
Average Drawdown Average peak-to-trough decline	-40.99%	-7.45%	-33.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	10.14%	-5.57%

Volatility

ZCLN.TO vs. NCLR.L - Volatility Comparison

The current volatility for BMO Clean Energy Index ETF (ZCLN.TO) is 10.35%, while WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR.L) has a volatility of 15.79%. This indicates that ZCLN.TO experiences smaller price fluctuations and is considered to be less risky than NCLR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZCLN.TO	NCLR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	15.79%	-5.44%
Volatility (6M) Calculated over the trailing 6-month period	21.15%	36.76%	-15.61%
Volatility (1Y) Calculated over the trailing 1-year period	26.67%	48.18%	-21.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.78%	47.60%	-21.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.94%	47.60%	-20.66%