CTEX vs. HYDR

Last updated Jul 14, 2026

CTEX (ProShares S&P Kensho Cleantech ETF) and HYDR (Global X Hydrogen ETF) are both Alternative Energy Equities funds - CTEX tracks the S&P Kensho Cleantech Index while HYDR tracks the Solactive Global Hydrogen Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, CTEX returned 3.77%/yr vs -1.63%/yr for HYDR. A 0.79 correlation means they provide meaningful diversification when combined. CTEX charges 0.58%/yr vs 0.50%/yr for HYDR.

Performance

CTEX vs. HYDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Kensho Cleantech ETF (CTEX) and Global X Hydrogen ETF (HYDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTEX achieves a 4.74% return, which is significantly lower than HYDR's 40.67% return.

CTEX

• 1D: -3.75%
• 1M: -13.57%
• 6M: -4.37%
• YTD: 4.74%
• 1Y: 62.54%
• 3Y*: 3.77%
• 5Y*: —
• 10Y*: —

HYDR

• 1D: -3.10%
• 1M: -18.40%
• 6M: 21.54%
• YTD: 40.67%
• 1Y: 88.58%
• 3Y*: -1.63%
• 5Y*: -17.15%
• 10Y*: —

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

CTEX vs. HYDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CTEX ProShares S&P Kensho Cleantech ETF	4.74%	67.74%	-20.38%	-10.25%	-20.38%	-6.68%
HYDR Global X Hydrogen ETF	40.67%	43.73%	-33.08%	-36.49%	-47.24%	-4.96%

Correlation

The correlation between CTEX and HYDR is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.79

The correlation between CTEX and HYDR has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

CTEX vs. HYDR - Sectors Allocation Comparison

Sectors	CTEX	HYDR
Industrials	43.3%	81.6%
Energy	37.5%	1.2%
Utilities	13.0%	1.2%
Technology	3.1%	0.7%
Consumer Cyclical	2.7%	5.7%
Basic Materials	-	5.1%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

CTEX vs. HYDR — Risk / Return Rank

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

CTEX

CTEX Risk / Return Rank: 50
CTEX Sharpe Ratio Rank: 51
CTEX Sortino Ratio Rank: 48
CTEX Omega Ratio Rank: 46
CTEX Calmar Ratio Rank: 56
CTEX Martin Ratio Rank: 48

HYDR

HYDR Risk / Return Rank: 55
HYDR Sharpe Ratio Rank: 59
HYDR Sortino Ratio Rank: 60
HYDR Omega Ratio Rank: 53
HYDR Calmar Ratio Rank: 57
HYDR Martin Ratio Rank: 44

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.

CTEX vs. HYDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Cleantech ETF (CTEX) and Global X Hydrogen ETF (HYDR). 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.

	CTEX	HYDR	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.58	-0.19
Sortino ratio: Return per unit of downside risk	1.91	2.26	-0.35
Omega ratio: Gain probability vs. loss probability	1.23	1.26	-0.03
Calmar ratio: Return relative to maximum drawdown	2.23	2.28	-0.05
Martin ratio: Return relative to average drawdown	6.37	5.71	+0.66

CTEX vs. HYDR - Sharpe Ratio Comparison

The current CTEX Sharpe Ratio is 1.39, which is comparable to the HYDR Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of CTEX and HYDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTEX vs. HYDR - Drawdown Comparison

The maximum CTEX drawdown since its inception was -70.31%, smaller than the maximum HYDR drawdown of -89.28%. Use the drawdown chart below to compare losses from any high point for CTEX and HYDR.

Drawdown Indicators

	CTEX	HYDR	Difference
Max Drawdown Largest peak-to-trough decline	-70.31%	-89.28%	+18.97%
Max Drawdown (1Y) Largest decline over 1 year	-28.22%	-39.03%	+10.81%
Max Drawdown (3Y) Largest decline over 3 years	-56.83%	-70.32%	+13.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-89.28%	—
Current Drawdown Current decline from peak	-28.22%	-67.70%	+39.48%
Average Drawdown Average peak-to-trough decline	-41.39%	-64.13%	+22.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.84%	15.57%	-5.73%

Volatility

CTEX vs. HYDR - Volatility Comparison

The current volatility for ProShares S&P Kensho Cleantech ETF (CTEX) is 15.69%, while Global X Hydrogen ETF (HYDR) has a volatility of 16.85%. This indicates that CTEX experiences smaller price fluctuations and is considered to be less risky than HYDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTEX	HYDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.69%	16.85%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	33.66%	40.35%	-6.69%
Volatility (1Y) Calculated over the trailing 1-year period	45.21%	56.51%	-11.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.69%	47.70%	-4.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.69%	47.70%	-4.01%

CTEX vs. HYDR - Expense Ratio Comparison

CTEX has a 0.58% expense ratio, which is higher than HYDR's 0.50% expense ratio.

Dividends

CTEX vs. HYDR - Dividend Comparison

CTEX's dividend yield for the trailing twelve months is around 2.00%, less than HYDR's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021
CTEX ProShares S&P Kensho Cleantech ETF	2.00%	2.17%	0.57%	0.12%	0.00%	0.00%
HYDR Global X Hydrogen ETF	2.97%	3.82%	0.40%	0.00%	0.00%	0.06%

Frequently Asked Questions

Can I hold both CTEX and HYDR in my portfolio?

CTEX and HYDR have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTEX or HYDR?

HYDR has higher volatility (16.85%) compared to CTEX (15.69%). In terms of maximum drawdown, CTEX dropped -70.31% vs HYDR's -89.28%.

Which ETF is better, CTEX or HYDR?

On 3-year performance, CTEX leads with 3.77% vs -1.63% for HYDR. On fees, HYDR is cheaper at 0.50% per year. On volatility, CTEX has been the lower-risk option at 15.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEX or HYDR?

Over the 3-year period, CTEX has performed better with a 3.77% return vs -1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEX or HYDR?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.58% for CTEX.

Which ETF pays a higher dividend yield, CTEX or HYDR?

HYDR has the higher dividend yield at 2.97%, compared with 2.00% for CTEX.

What is the main difference between CTEX and HYDR?

CTEX tracks S&P Kensho Cleantech Index, while HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.58% for CTEX and 0.50% for HYDR.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (1.58 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.