HDGB.L vs. FLES.L
HDGB.L (VanEck Hydrogen Economy UCITS ETF) and FLES.L (Franklin Euro Short Maturity UCITS ETF) are both Global Equities funds - HDGB.L tracks the VanEck Hydrogen Economy UCITS ETF while FLES.L tracks the Franklin Euro Short Maturity UCITS ETF. Both are passively managed. Over the past 5 years, HDGB.L returned -12.57%/yr vs 1.97%/yr for FLES.L. At a 0.02 correlation, their price movements are largely independent.
Performance
HDGB.L vs. FLES.L - Performance Comparison
Loading charts...
Different Trading Currencies
HDGB.L is traded in GBP, while FLES.L is traded in EUR. To make them comparable, the FLES.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HDGB.L achieves a 35.57% return, which is significantly higher than FLES.L's -1.89% 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*
- —
FLES.L
- 1D
- -0.55%
- 1M
- -1.80%
- 6M
- -1.28%
- YTD
- -1.89%
- 1Y
- -0.40%
- 3Y*
- 2.78%
- 5Y*
- 1.97%
- 10Y*
- —
HDGB.L vs. FLES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HDGB.L VanEck Hydrogen Economy UCITS ETF | 35.57% | 10.07% | -28.93% | -27.71% | -31.76% | -20.01% |
FLES.L Franklin Euro Short Maturity UCITS ETF | -1.89% | 7.85% | -0.52% | 1.23% | 5.31% | -1.06% |
Correlation
The correlation between HDGB.L and FLES.L is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HDGB.L vs. FLES.L — Risk / Return Rank
HDGB.L
FLES.L
HDGB.L vs. FLES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Hydrogen Economy UCITS ETF (HDGB.L) and Franklin Euro Short Maturity UCITS ETF (FLES.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 | FLES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.99 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | -0.13 | +2.27 |
| Martin ratioReturn relative to average drawdown | 4.71 | -0.35 | +5.06 |
Loading charts...
Drawdowns
HDGB.L vs. FLES.L - Drawdown Comparison
The maximum HDGB.L drawdown since its inception was -80.00%, which is greater than FLES.L's maximum drawdown of -10.70%. Use the drawdown chart below to compare losses from any high point for HDGB.L and FLES.L.
Loading charts...
Drawdown Indicators
| HDGB.L | FLES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.00% | -10.70% | -69.30% |
Max Drawdown (1Y)Largest decline over 1 year | -29.04% | -3.01% | -26.03% |
Max Drawdown (3Y)Largest decline over 3 years | -63.35% | -3.07% | -60.28% |
Max Drawdown (5Y)Largest decline over 5 years | -80.00% | -4.87% | -75.13% |
Current DrawdownCurrent decline from peak | -58.84% | -3.01% | -55.83% |
Average DrawdownAverage peak-to-trough decline | -51.60% | -4.40% | -47.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 1.15% | +12.04% |
Volatility
HDGB.L vs. FLES.L - Volatility Comparison
VanEck Hydrogen Economy UCITS ETF (HDGB.L) has a higher volatility of 10.35% compared to Franklin Euro Short Maturity UCITS ETF (FLES.L) at 0.97%. This indicates that HDGB.L's price experiences larger fluctuations and is considered to be riskier than FLES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HDGB.L | FLES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.35% | 0.97% | +9.38% |
Volatility (6M)Calculated over the trailing 6-month period | 27.35% | 2.70% | +24.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.10% | 4.02% | +35.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.53% | 5.44% | +29.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.61% | 6.28% | +28.33% |
Dividends
HDGB.L vs. FLES.L - Dividend Comparison
HDGB.L has not paid dividends to shareholders, while FLES.L's dividend yield for the trailing twelve months is around 1.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLES.L Franklin Euro Short Maturity UCITS ETF | 1.92% | 2.62% | 2.55% | 1.20% | 0.26% |
HDGB.L VanEck Hydrogen Economy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDGB.L and FLES.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDGB.L tracks VanEck Hydrogen Economy UCITS ETF, while FLES.L tracks Franklin Euro Short Maturity UCITS ETF. They also come from different issuers: VanEck and Franklin.
Find the right allocation for HDGB.L and FLES.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer