CESG.L vs. HTWO.L
CESG.L (First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc) and HTWO.L (L&G Hydrogen Economy UCITS ETF USD (Acc)) are both exchange-traded funds - CESG.L is a ESG fund actively managed by First Trust, while HTWO.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR. CESG.L is actively managed, while HTWO.L is passively managed. Over the past 5 years, CESG.L returned 5.53%/yr vs -1.03%/yr for HTWO.L. A 0.51 correlation means they provide meaningful diversification when combined. CESG.L charges 0.75%/yr vs 0.49%/yr for HTWO.L.
Performance
CESG.L vs. HTWO.L - Performance Comparison
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Returns By Period
In the year-to-date period, CESG.L achieves a 3.98% return, which is significantly lower than HTWO.L's 25.90% return.
CESG.L
- 1D
- 0.93%
- 1M
- 3.53%
- 6M
- 4.17%
- YTD
- 3.98%
- 1Y
- 6.69%
- 3Y*
- 9.84%
- 5Y*
- 5.53%
- 10Y*
- —
HTWO.L
- 1D
- 0.39%
- 1M
- -14.21%
- 6M
- 11.54%
- YTD
- 25.90%
- 1Y
- 53.68%
- 3Y*
- 12.22%
- 5Y*
- -1.03%
- 10Y*
- —
CESG.L vs. HTWO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CESG.L First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc | 3.98% | 11.47% | 9.71% | 12.32% | -13.97% | 23.33% |
HTWO.L L&G Hydrogen Economy UCITS ETF USD (Acc) | 25.90% | 40.50% | -8.00% | -3.49% | -37.13% | -10.89% |
Correlation
The correlation between CESG.L and HTWO.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.51 |
Over the past year, the correlation between CESG.L and HTWO.L has dropped to 0.18 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
CESG.L vs. HTWO.L — Risk / Return Rank
CESG.L
HTWO.L
CESG.L vs. HTWO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.L) and L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.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.
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.
| CESG.L | HTWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.28 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 2.30 | -1.54 |
| Martin ratioReturn relative to average drawdown | 1.95 | 6.91 | -4.96 |
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Drawdowns
CESG.L vs. HTWO.L - Drawdown Comparison
The maximum CESG.L drawdown since its inception was -22.69%, smaller than the maximum HTWO.L drawdown of -68.35%. Use the drawdown chart below to compare losses from any high point for CESG.L and HTWO.L.
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Drawdown Indicators
| CESG.L | HTWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.69% | -68.35% | +45.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -23.23% | +14.42% |
Max Drawdown (3Y)Largest decline over 3 years | -10.31% | -32.23% | +21.92% |
Max Drawdown (5Y)Largest decline over 5 years | -22.69% | -59.35% | +36.66% |
Current DrawdownCurrent decline from peak | -0.31% | -33.88% | +33.57% |
Average DrawdownAverage peak-to-trough decline | -5.51% | -48.83% | +43.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 7.74% | -4.32% |
Volatility
CESG.L vs. HTWO.L - Volatility Comparison
The current volatility for First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.L) is 3.47%, while L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.L) has a volatility of 10.56%. This indicates that CESG.L experiences smaller price fluctuations and is considered to be less risky than HTWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CESG.L | HTWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 10.56% | -7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 23.62% | -15.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.01% | 32.48% | -22.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.63% | 29.27% | -16.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.53% | 29.37% | -16.84% |
CESG.L vs. HTWO.L - Expense Ratio Comparison
CESG.L has a 0.75% expense ratio, which is higher than HTWO.L's 0.49% expense ratio.
Dividends
CESG.L vs. HTWO.L - Dividend Comparison
Neither CESG.L nor HTWO.L has paid dividends to shareholders.
Frequently Asked Questions
CESG.L and HTWO.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HTWO.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HTWO.L is cheaper with a 0.49% expense ratio, compared with 0.75% for CESG.L.
CESG.L is categorized as ESG, while HTWO.L is Alternative Energy Equities. They also come from different issuers: First Trust and L&G. Their fees differ too: 0.75% for CESG.L and 0.49% for HTWO.L.
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