ESGI.AX vs. HGEN.AX

Last updated Jul 16, 2026

ESGI.AX (VanEck MSCI International Sustainable Equity ETF) and HGEN.AX (Global X Hydrogen ETF) are both Global Equities funds - ESGI.AX tracks the MSCI World ex Australia ex Fossil Fuel Select SRI and Low Carbon Capped Index while HGEN.AX tracks the Global X Hydrogen Index. Both are passively managed. Over the past 3 years, ESGI.AX returned 14.32%/yr vs 12.54%/yr for HGEN.AX. At a 0.40 correlation, their price movements are largely independent.

Performance

ESGI.AX vs. HGEN.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck MSCI International Sustainable Equity ETF (ESGI.AX) and Global X Hydrogen ETF (HGEN.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESGI.AX achieves a 6.43% return, which is significantly lower than HGEN.AX's 43.83% return.

ESGI.AX

• 1D: -0.45%
• 1M: 4.59%
• 6M: 4.93%
• YTD: 6.43%
• 1Y: 8.19%
• 3Y*: 14.32%
• 5Y*: 10.39%
• 10Y*: —

HGEN.AX

• 1D: -3.10%
• 1M: -14.66%
• 6M: 13.86%
• YTD: 43.83%
• 1Y: 92.59%
• 3Y*: 12.54%
• 5Y*: —
• 10Y*: —

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

ESGI.AX vs. HGEN.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ESGI.AX VanEck MSCI International Sustainable Equity ETF	6.43%	6.29%	23.14%	16.95%	-7.32%	7.88%
HGEN.AX Global X Hydrogen ETF	43.83%	43.64%	-10.40%	-20.10%	-36.18%	7.90%

Correlation

The correlation between ESGI.AX and HGEN.AX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021	0.40

The correlation between ESGI.AX and HGEN.AX shifts across timeframes, from 0.23 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ESGI.AX vs. HGEN.AX — Risk / Return Rank

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

ESGI.AX

ESGI.AX Risk / Return Rank: 19
ESGI.AX Sharpe Ratio Rank: 21
ESGI.AX Sortino Ratio Rank: 21
ESGI.AX Omega Ratio Rank: 20
ESGI.AX Calmar Ratio Rank: 17
ESGI.AX Martin Ratio Rank: 17

HGEN.AX

HGEN.AX Risk / Return Rank: 71
HGEN.AX Sharpe Ratio Rank: 76
HGEN.AX Sortino Ratio Rank: 67
HGEN.AX Omega Ratio Rank: 63
HGEN.AX Calmar Ratio Rank: 83
HGEN.AX Martin Ratio Rank: 67

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.

ESGI.AX vs. HGEN.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck MSCI International Sustainable Equity ETF (ESGI.AX) and Global X Hydrogen ETF (HGEN.AX). 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.

	ESGI.AX	HGEN.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.62	1.94	-1.32
Sortino ratio: Return per unit of downside risk	0.98	2.50	-1.52
Omega ratio: Gain probability vs. loss probability	1.12	1.31	-0.19
Calmar ratio: Return relative to maximum drawdown	0.60	3.61	-3.02
Martin ratio: Return relative to average drawdown	1.38	9.67	-8.29

ESGI.AX vs. HGEN.AX - Sharpe Ratio Comparison

The current ESGI.AX Sharpe Ratio is 0.62, which is lower than the HGEN.AX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ESGI.AX and HGEN.AX, 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

ESGI.AX vs. HGEN.AX - Drawdown Comparison

The maximum ESGI.AX drawdown since its inception was -22.88%, smaller than the maximum HGEN.AX drawdown of -72.54%. Use the drawdown chart below to compare losses from any high point for ESGI.AX and HGEN.AX.

Drawdown Indicators

	ESGI.AX	HGEN.AX	Difference
Max Drawdown Largest peak-to-trough decline	-22.88%	-72.54%	+49.66%
Max Drawdown (1Y) Largest decline over 1 year	-14.92%	-25.14%	+10.22%
Max Drawdown (3Y) Largest decline over 3 years	-14.92%	-49.84%	+34.92%
Max Drawdown (5Y) Largest decline over 5 years	-19.38%	—	—
Current Drawdown Current decline from peak	-1.00%	-25.22%	+24.22%
Average Drawdown Average peak-to-trough decline	-4.51%	-47.63%	+43.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.53%	9.50%	-2.97%

Volatility

ESGI.AX vs. HGEN.AX - Volatility Comparison

The current volatility for VanEck MSCI International Sustainable Equity ETF (ESGI.AX) is 3.61%, while Global X Hydrogen ETF (HGEN.AX) has a volatility of 13.18%. This indicates that ESGI.AX experiences smaller price fluctuations and is considered to be less risky than HGEN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESGI.AX	HGEN.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	13.18%	-9.57%
Volatility (6M) Calculated over the trailing 6-month period	12.18%	32.95%	-20.77%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	46.74%	-32.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.00%	36.64%	-23.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.86%	36.64%	-22.78%

Dividends

ESGI.AX vs. HGEN.AX - Dividend Comparison

ESGI.AX's dividend yield for the trailing twelve months is around 2.71%, more than HGEN.AX's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESGI.AX VanEck MSCI International Sustainable Equity ETF	2.71%	6.43%	6.58%	3.35%	2.39%	1.42%	1.50%	1.55%	0.52%
HGEN.AX Global X Hydrogen ETF	0.78%	0.34%	0.60%	0.17%	0.09%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESGI.AX and HGEN.AX in my portfolio?

ESGI.AX and HGEN.AX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ESGI.AX and HGEN.AX?

ESGI.AX tracks MSCI World ex Australia ex Fossil Fuel Select SRI and Low Carbon Capped Index, while HGEN.AX tracks Global X Hydrogen Index. They also come from different issuers: VanEck and Global X.