HDGB.L vs. MVEW.L
HDGB.L (VanEck Hydrogen Economy UCITS ETF USD (Acc)) and MVEW.L (iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc)) are both exchange-traded funds - HDGB.L is a Hydrogen Economy fund tracking the MVIS Global Hydrogen Economy ESG Index, while MVEW.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, HDGB.L returned -12.94%/yr vs 5.98%/yr for MVEW.L. At a 0.25 correlation, their price movements are largely independent. HDGB.L charges 0.55%/yr vs 0.30%/yr for MVEW.L.
Performance
HDGB.L vs. MVEW.L - Performance Comparison
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Returns By Period
In the year-to-date period, HDGB.L achieves a 32.72% return, which is significantly higher than MVEW.L's 2.49% return.
HDGB.L
- 1D
- -1.51%
- 1M
- -13.74%
- 6M
- 14.76%
- YTD
- 32.72%
- 1Y
- 55.48%
- 3Y*
- -8.38%
- 5Y*
- -12.94%
- 10Y*
- —
MVEW.L
- 1D
- 0.82%
- 1M
- 2.15%
- 6M
- 2.15%
- YTD
- 2.49%
- 1Y
- 5.47%
- 3Y*
- 8.21%
- 5Y*
- 5.98%
- 10Y*
- —
HDGB.L vs. MVEW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HDGB.L VanEck Hydrogen Economy UCITS ETF USD (Acc) | 32.72% | 10.07% | -28.93% | -27.71% | -31.76% | -9.41% |
MVEW.L iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) | 2.49% | 3.61% | 12.60% | 3.91% | -0.44% | 12.39% |
Correlation
The correlation between HDGB.L and MVEW.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 | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021 | 0.25 |
The correlation between HDGB.L and MVEW.L shifts across timeframes, from -0.02 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HDGB.L vs. MVEW.L — Risk / Return Rank
HDGB.L
MVEW.L
HDGB.L vs. MVEW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Hydrogen Economy UCITS ETF USD (Acc) (HDGB.L) and iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) (MVEW.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 | MVEW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.12 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 0.94 | +0.87 |
| Martin ratioReturn relative to average drawdown | 4.15 | 2.34 | +1.81 |
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Drawdowns
HDGB.L vs. MVEW.L - Drawdown Comparison
The maximum HDGB.L drawdown since its inception was -80.00%, which is greater than MVEW.L's maximum drawdown of -10.07%. Use the drawdown chart below to compare losses from any high point for HDGB.L and MVEW.L.
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Drawdown Indicators
| HDGB.L | MVEW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.00% | -10.07% | -69.93% |
Max Drawdown (1Y)Largest decline over 1 year | -30.53% | -5.78% | -24.75% |
Max Drawdown (3Y)Largest decline over 3 years | -63.35% | -8.99% | -54.36% |
Max Drawdown (5Y)Largest decline over 5 years | -80.00% | -10.07% | -69.93% |
Current DrawdownCurrent decline from peak | -59.70% | -0.96% | -58.74% |
Average DrawdownAverage peak-to-trough decline | -51.61% | -2.64% | -48.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.34% | 2.33% | +11.01% |
Volatility
HDGB.L vs. MVEW.L - Volatility Comparison
VanEck Hydrogen Economy UCITS ETF USD (Acc) (HDGB.L) has a higher volatility of 10.38% compared to iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) (MVEW.L) at 2.59%. This indicates that HDGB.L's price experiences larger fluctuations and is considered to be riskier than MVEW.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 | MVEW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.38% | 2.59% | +7.79% |
Volatility (6M)Calculated over the trailing 6-month period | 27.41% | 6.17% | +21.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.12% | 8.30% | +30.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.53% | 9.87% | +24.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.61% | 9.82% | +24.79% |
HDGB.L vs. MVEW.L - Expense Ratio Comparison
HDGB.L has a 0.55% expense ratio, which is higher than MVEW.L's 0.30% expense ratio.
Dividends
HDGB.L vs. MVEW.L - Dividend Comparison
Neither HDGB.L nor MVEW.L has paid dividends to shareholders.
Frequently Asked Questions
HDGB.L and MVEW.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.
On fees, MVEW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MVEW.L is cheaper with a 0.30% expense ratio, compared with 0.55% for HDGB.L.
HDGB.L is categorized as Hydrogen Economy, while MVEW.L is Global Equities. HDGB.L tracks MVIS Global Hydrogen Economy ESG Index, while MVEW.L tracks MSCI ACWI NR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for HDGB.L and 0.30% for MVEW.L.
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