They say that everything eventually comes back in style, and nuclear energy is no exception now that there are two exchange traded funds (ETFs) available to take advantage of the sector.

Nuclear was once the black sheep of the energy sector, but as the threat of global warming looms and the cost of a barrel of oil becomes ever more pricey, atomic energy is looking like an increasingly attractive option. It fell out of favor after disastrous accidents at Three Mile Island and Chernobyl.

But nuclear energy emits relatively small amounts of greenhouse gases, reports Amy Bickers for Kiplinger. And spent nuclear fuel can be easily transported to waste-storage facilities. Demand is predicted to rise about 50% between 2005 and 2030, thanks to a concurrent rise in energy demand and greenhouse gas concerns. Right now, nuclear power provides about 16% of the world’s electricity.

But which nuclear energy company is going to do well in the revival? An ETF that focuses on the sector might be a better option than individual stock-picking.

There are currently two options:

• PowerShares Global Energy Portfolio (PKN): up 2.6% since April 4 inception. The fund has a tilt toward companies that will build new plants as well as modernize existing facilities.
• Market Vectors Nuclear Energy (NLR): down 8.2% year-to-date. The fund has a 42% weighting in companies that mine uranium.

Tags | Energy, Gas, Green ETFs