HASI vs. VDE

Last updated Jun 4, 2026

HASI (Hannon Armstrong Sustainable Infrastructure Capital, Inc.) is a stock, while VDE (Vanguard Energy ETF) is Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. Over the past 10 years, HASI returned 12.56%/yr vs 9.70%/yr for VDE. At a 0.29 correlation, their price movements are largely independent.

Performance

HASI vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) and Vanguard Energy ETF (VDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HASI achieves a 29.14% return, which is significantly lower than VDE's 32.24% return. Over the past 10 years, HASI has outperformed VDE with an annualized return of 12.56%, while VDE has yielded a comparatively lower 9.70% annualized return.

HASI

• 1D: -1.28%
• 1M: -4.97%
• YTD: 29.14%
• 6M: 23.35%
• 1Y: 66.37%
• 3Y*: 24.35%
• 5Y*: 1.27%
• 10Y*: 12.56%

VDE

• 1D: 1.13%
• 1M: -2.17%
• YTD: 32.24%
• 6M: 29.32%
• 1Y: 45.53%
• 3Y*: 17.97%
• 5Y*: 20.43%
• 10Y*: 9.70%

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

HASI vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	29.14%	23.95%	3.02%	1.49%	-43.05%	-14.08%	105.59%	77.07%	-15.37%	34.31%
VDE Vanguard Energy ETF	32.24%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between HASI and VDE is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 19, 2013	0.29

The correlation between HASI and VDE shifts across timeframes, from 0.14 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HASI vs. VDE — Risk / Return Rank

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

HASI

HASI Risk / Return Rank: 88
HASI Sharpe Ratio Rank: 88
HASI Sortino Ratio Rank: 89
HASI Omega Ratio Rank: 85
HASI Calmar Ratio Rank: 89
HASI Martin Ratio Rank: 90

VDE

VDE Risk / Return Rank: 64
VDE Sharpe Ratio Rank: 66
VDE Sortino Ratio Rank: 60
VDE Omega Ratio Rank: 57
VDE Calmar Ratio Rank: 75
VDE Martin Ratio Rank: 62

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.

HASI vs. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) and Vanguard Energy ETF (VDE). 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.

	HASI	VDE	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.25	-0.20
Sortino ratio: Return per unit of downside risk	3.10	2.88	+0.22
Omega ratio: Gain probability vs. loss probability	1.37	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	4.34	3.88	+0.46
Martin ratio: Return relative to average drawdown	13.01	11.42	+1.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HASI vs. VDE - Sharpe Ratio Comparison

The current HASI Sharpe Ratio is 2.05, which is comparable to the VDE Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of HASI and VDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HASI	VDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.25	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.78	-0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.33	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.28	+0.13

Drawdowns

HASI vs. VDE - Drawdown Comparison

The maximum HASI drawdown since its inception was -76.94%, roughly equal to the maximum VDE drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for HASI and VDE.

Drawdown Indicators

	HASI	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-76.94%	-74.20%	-2.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.38%	-11.80%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-50.00%	-21.41%	-28.59%
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	-26.58%	-48.66%
Max Drawdown (10Y) Largest decline over 10 years	-76.94%	-69.29%	-7.65%
Current Drawdown Current decline from peak	-25.93%	-6.43%	-19.50%
Average Drawdown Average peak-to-trough decline	-22.74%	-19.96%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.12%	4.00%	+1.12%

Volatility

HASI vs. VDE - Volatility Comparison

The current volatility for Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) is 6.85%, while Vanguard Energy ETF (VDE) has a volatility of 7.99%. This indicates that HASI experiences smaller price fluctuations and is considered to be less risky than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HASI	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	7.99%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	19.52%	16.33%	+3.19%
Volatility (1Y) Calculated over the trailing 1-year period	32.68%	20.38%	+12.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.17%	26.40%	+20.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.22%	29.93%	+12.29%

Dividends

HASI vs. VDE - Dividend Comparison

HASI's dividend yield for the trailing twelve months is around 4.20%, more than VDE's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	4.20%	5.35%	6.19%	5.73%	5.18%	2.64%	2.14%	4.16%	6.93%	5.49%	6.48%	5.71%
VDE Vanguard Energy ETF	2.37%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both HASI and VDE in my portfolio?

HASI and VDE have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HASI or VDE?

VDE has higher volatility (7.99%) compared to HASI (6.85%). In terms of maximum drawdown, HASI dropped -76.94% vs VDE's -74.20%.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (2.25 vs 2.05), 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.