HDGB.L vs. DFNG.L
HDGB.L (VanEck Hydrogen Economy UCITS ETF) and DFNG.L (VanEck Defense UCITS ETF) are both exchange-traded funds - HDGB.L is a Global Equities fund tracking the VanEck Hydrogen Economy UCITS ETF, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, HDGB.L returned -6.65%/yr vs 34.05%/yr for DFNG.L. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
HDGB.L vs. DFNG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HDGB.L achieves a 35.57% return, which is significantly higher than DFNG.L's -5.39% return.
HDGB.L
- 1D
- -0.30%
- 1M
- -11.66%
- 6M
- 18.47%
- YTD
- 35.57%
- 1Y
- 59.95%
- 3Y*
- -6.65%
- 5Y*
- -12.57%
- 10Y*
- —
DFNG.L
- 1D
- 0.00%
- 1M
- -5.59%
- 6M
- -20.55%
- YTD
- -5.39%
- 1Y
- 1.83%
- 3Y*
- 34.05%
- 5Y*
- —
- 10Y*
- —
HDGB.L vs. DFNG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HDGB.L VanEck Hydrogen Economy UCITS ETF | 35.57% | 10.07% | -28.93% | -26.83% |
DFNG.L VanEck Defense UCITS ETF | -5.39% | 56.54% | 46.20% | -1.18% |
Correlation
The correlation between HDGB.L and DFNG.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.32 |
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Return for Risk
HDGB.L vs. DFNG.L — Risk / Return Rank
HDGB.L
DFNG.L
HDGB.L vs. DFNG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Hydrogen Economy UCITS ETF (HDGB.L) and VanEck Defense UCITS ETF (DFNG.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.
| HDGB.L | DFNG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.03 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 0.08 | +2.06 |
| Martin ratioReturn relative to average drawdown | 4.71 | 0.18 | +4.52 |
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Drawdowns
HDGB.L vs. DFNG.L - Drawdown Comparison
The maximum HDGB.L drawdown since its inception was -80.00%, which is greater than DFNG.L's maximum drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for HDGB.L and DFNG.L.
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Drawdown Indicators
| HDGB.L | DFNG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.00% | -24.31% | -55.69% |
Max Drawdown (1Y)Largest decline over 1 year | -29.04% | -24.31% | -4.73% |
Max Drawdown (3Y)Largest decline over 3 years | -63.35% | -24.31% | -39.04% |
Max Drawdown (5Y)Largest decline over 5 years | -80.00% | — | — |
Current DrawdownCurrent decline from peak | -58.84% | -22.71% | -36.13% |
Average DrawdownAverage peak-to-trough decline | -51.60% | -5.39% | -46.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 10.00% | +3.19% |
Volatility
HDGB.L vs. DFNG.L - Volatility Comparison
VanEck Hydrogen Economy UCITS ETF (HDGB.L) has a higher volatility of 10.35% compared to VanEck Defense UCITS ETF (DFNG.L) at 9.66%. This indicates that HDGB.L's price experiences larger fluctuations and is considered to be riskier than DFNG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDGB.L | DFNG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.35% | 9.66% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 27.35% | 19.49% | +7.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.10% | 25.74% | +13.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.53% | 23.67% | +10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.61% | 23.67% | +10.94% |
HDGB.L vs. DFNG.L - Expense Ratio Comparison
Both HDGB.L and DFNG.L have an expense ratio of 0.55%.
Dividends
HDGB.L vs. DFNG.L - Dividend Comparison
Neither HDGB.L nor DFNG.L has paid dividends to shareholders.
Frequently Asked Questions
HDGB.L and DFNG.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HDGB.L and DFNG.L have the same expense ratio: 0.55% per year.
HDGB.L is categorized as Global Equities, while DFNG.L is Aerospace & Defense. HDGB.L tracks VanEck Hydrogen Economy UCITS ETF, while DFNG.L tracks MarketVector Global Defense Industry index.
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