ACES vs. HJEN

Last updated Jun 24, 2026

ACES (ALPS Clean Energy ETF) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - ACES tracks the CIBC Atlas Clean Energy Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. A 0.63 correlation means they provide meaningful diversification when combined. ACES charges 0.55%/yr vs 0.45%/yr for HJEN.

Performance

ACES vs. HJEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Clean Energy ETF (ACES) and Direxion Hydrogen ETF (HJEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ACES

• 1D: -4.61%
• 1M: -9.51%
• YTD: 9.28%
• 6M: 4.82%
• 1Y: 42.77%
• 3Y*: -5.11%
• 5Y*: -12.89%
• 10Y*: —

HJEN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ACES vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ACES ALPS Clean Energy ETF	9.28%	25.44%	-26.71%	-20.04%	-28.44%	-10.11%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-11.04%

Correlation

The correlation between ACES and HJEN is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.63

The correlation between ACES and HJEN shifts across timeframes, from 0.43 (3 years) to 0.63 (all time), reflecting how their relationship changes across market environments.

ACES vs. HJEN - Sectors Allocation Comparison

Sectors	ACES	HJEN
Technology	30.1%	7.6%
Utilities	23.8%	-
Industrials	21.6%	31.7%
Consumer Cyclical	9.9%	-
Basic Materials	7.3%	9.2%
Financial Services	4.4%	3.3%
Consumer Defensive	2.5%	-
Energy	0.4%	8.3%
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ACES vs. HJEN — Risk / Return Rank

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

ACES

ACES Risk / Return Rank: 39
ACES Sharpe Ratio Rank: 37
ACES Sortino Ratio Rank: 36
ACES Omega Ratio Rank: 34
ACES Calmar Ratio Rank: 51
ACES Martin Ratio Rank: 39

HJEN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ACES vs. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Clean Energy ETF (ACES) and Direxion Hydrogen ETF (HJEN). 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.

	ACES	HJEN	Difference
Sharpe ratio: Return per unit of total volatility	1.27	—	—
Sortino ratio: Return per unit of downside risk	1.79	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.41	—	—
Martin ratio: Return relative to average drawdown	5.66	—	—

Drawdowns

Drawdown Indicators

	ACES	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-58.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-74.44%	—	—
Current Drawdown Current decline from peak	-63.00%	—	—
Average Drawdown Average peak-to-trough decline	-38.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	7.58%	—	—

Volatility

Volatility by Period

	ACES	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.93%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.52%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.72%	—	—

ACES vs. HJEN - Expense Ratio Comparison

ACES has a 0.55% expense ratio, which is higher than HJEN's 0.45% expense ratio.

Dividends

ACES vs. HJEN - Dividend Comparison

ACES's dividend yield for the trailing twelve months is around 0.63%, while HJEN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ACES ALPS Clean Energy ETF	0.63%	0.70%	1.10%	1.44%	1.08%	0.71%	0.56%	1.79%	0.34%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACES and HJEN in my portfolio?

ACES and HJEN have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACES or HJEN?

On fees, HJEN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACES or HJEN?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.55% for ACES.

Which ETF pays a higher dividend yield, ACES or HJEN?

ACES has the higher dividend yield at 0.63%, compared with 0.00% for HJEN.

What is the main difference between ACES and HJEN?

ACES tracks CIBC Atlas Clean Energy Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: SS&C and Direxion. Their fees differ too: 0.55% for ACES and 0.45% for HJEN.