GGUS.AX vs. HGEN.AX
GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) and HGEN.AX (Global X Hydrogen ETF) are both Global Equities funds. GGUS.AX is actively managed, while HGEN.AX is passively managed. Over the past 3 years, GGUS.AX returned 31.10%/yr vs 12.54%/yr for HGEN.AX. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
GGUS.AX vs. HGEN.AX - Performance Comparison
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Returns By Period
In the year-to-date period, GGUS.AX achieves a 18.74% return, which is significantly lower than HGEN.AX's 43.83% return.
GGUS.AX
- 1D
- 0.25%
- 1M
- 0.33%
- 6M
- 16.82%
- YTD
- 18.74%
- 1Y
- 39.79%
- 3Y*
- 31.10%
- 5Y*
- 14.41%
- 10Y*
- 21.27%
HGEN.AX
- 1D
- -3.10%
- 1M
- -14.66%
- 6M
- 13.86%
- YTD
- 43.83%
- 1Y
- 92.59%
- 3Y*
- 12.54%
- 5Y*
- —
- 10Y*
- —
GGUS.AX vs. HGEN.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GGUS.AX Betashares Geared US Equities Currency Hedged Complex ETF | 18.74% | 18.83% | 45.64% | 49.70% | -47.20% | 24.43% |
HGEN.AX Global X Hydrogen ETF | 43.83% | 43.64% | -10.40% | -20.10% | -36.18% | 7.90% |
Correlation
The correlation between GGUS.AX and HGEN.AX is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | 0.54 |
The correlation between GGUS.AX and HGEN.AX has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
GGUS.AX vs. HGEN.AX — Risk / Return Rank
GGUS.AX
HGEN.AX
GGUS.AX vs. HGEN.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.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.
| GGUS.AX | HGEN.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 3.61 | -1.61 |
| Martin ratioReturn relative to average drawdown | 8.05 | 9.67 | -1.62 |
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Drawdowns
GGUS.AX vs. HGEN.AX - Drawdown Comparison
The maximum GGUS.AX drawdown since its inception was -64.26%, smaller than the maximum HGEN.AX drawdown of -72.54%. Use the drawdown chart below to compare losses from any high point for GGUS.AX and HGEN.AX.
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Drawdown Indicators
| GGUS.AX | HGEN.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.26% | -72.54% | +8.28% |
Max Drawdown (1Y)Largest decline over 1 year | -20.90% | -25.14% | +4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -46.78% | -49.84% | +3.06% |
Max Drawdown (5Y)Largest decline over 5 years | -55.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.26% | — | — |
Current DrawdownCurrent decline from peak | -1.47% | -25.22% | +23.75% |
Average DrawdownAverage peak-to-trough decline | -13.41% | -47.63% | +34.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 9.50% | -4.26% |
Volatility
GGUS.AX vs. HGEN.AX - Volatility Comparison
The current volatility for Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) is 5.85%, while Global X Hydrogen ETF (HGEN.AX) has a volatility of 13.18%. This indicates that GGUS.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.
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Volatility by Period
| GGUS.AX | HGEN.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 13.18% | -7.33% |
Volatility (6M)Calculated over the trailing 6-month period | 25.54% | 32.95% | -7.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.44% | 46.74% | -16.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.72% | 36.64% | +5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.73% | 36.64% | +4.09% |
Dividends
GGUS.AX vs. HGEN.AX - Dividend Comparison
GGUS.AX has not paid dividends to shareholders, while HGEN.AX's dividend yield for the trailing twelve months is around 0.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GGUS.AX Betashares Geared US Equities Currency Hedged Complex ETF | 0.00% | 1.69% | 0.00% | 0.00% | 6.12% | 2.52% | 0.00% | 0.12% | 0.96% | 0.62% | 0.89% |
HGEN.AX Global X Hydrogen ETF | 0.78% | 0.34% | 0.60% | 0.17% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GGUS.AX and HGEN.AX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BetaShares and Global X.
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