HDGB.L vs. PRUS.L

Last updated Jul 18, 2026

HDGB.L (VanEck Hydrogen Economy UCITS ETF USD (Acc)) and PRUS.L (Invesco RAFI US Fundamental Value UCITS ETF USD (Dist)) are both exchange-traded funds - HDGB.L is a Hydrogen Economy fund tracking the MVIS Global Hydrogen Economy ESG Index, while PRUS.L is a Large Cap Value Equities fund tracking the RAFI Fundamental US Index (USD). Both are passively managed. Over the past 5 years, HDGB.L returned -12.94%/yr vs 13.27%/yr for PRUS.L. At a 0.47 correlation, their price movements are largely independent. HDGB.L charges 0.55%/yr vs 0.39%/yr for PRUS.L.

Performance

HDGB.L vs. PRUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Hydrogen Economy UCITS ETF USD (Acc) (HDGB.L) and Invesco RAFI US Fundamental Value UCITS ETF USD (Dist) (PRUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HDGB.L is traded in GBP, while PRUS.L is traded in USD. To make them comparable, the PRUS.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 32.72% return, which is significantly higher than PRUS.L's 16.85% 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*: —

PRUS.L

• 1D: -0.26%
• 1M: -0.42%
• 6M: 12.61%
• YTD: 16.85%
• 1Y: 28.89%
• 3Y*: 17.80%
• 5Y*: 13.27%
• 10Y*: 12.70%

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

HDGB.L vs. PRUS.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%	-20.01%
PRUS.L Invesco RAFI US Fundamental Value UCITS ETF USD (Dist)	16.85%	8.28%	18.29%	10.14%	2.93%	16.12%

Correlation

The correlation between HDGB.L and PRUS.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021	0.47

Return for Risk

HDGB.L vs. PRUS.L — Risk / Return Rank

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

HDGB.L

HDGB.L Risk / Return Rank: 49
HDGB.L Sharpe Ratio Rank: 55
HDGB.L Sortino Ratio Rank: 57
HDGB.L Omega Ratio Rank: 50
HDGB.L Calmar Ratio Rank: 47
HDGB.L Martin Ratio Rank: 36

PRUS.L

PRUS.L Risk / Return Rank: 94
PRUS.L Sharpe Ratio Rank: 95
PRUS.L Sortino Ratio Rank: 95
PRUS.L Omega Ratio Rank: 94
PRUS.L Calmar Ratio Rank: 93
PRUS.L Martin Ratio Rank: 94

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.

HDGB.L vs. PRUS.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 Invesco RAFI US Fundamental Value UCITS ETF USD (Dist) (PRUS.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	PRUS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.41	2.72	-1.30
Sortino ratio: Return per unit of downside risk	2.08	3.68	-1.60
Omega ratio: Gain probability vs. loss probability	1.24	1.49	-0.25
Calmar ratio: Return relative to maximum drawdown	1.81	6.02	-4.21
Martin ratio: Return relative to average drawdown	4.15	21.79	-17.64

HDGB.L vs. PRUS.L - Sharpe Ratio Comparison

The current HDGB.L Sharpe Ratio is 1.41, which is lower than the PRUS.L Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of HDGB.L and PRUS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDGB.L vs. PRUS.L - Drawdown Comparison

The maximum HDGB.L drawdown since its inception was -80.00%, which is greater than PRUS.L's maximum drawdown of -39.61%. Use the drawdown chart below to compare losses from any high point for HDGB.L and PRUS.L.

Drawdown Indicators

	HDGB.L	PRUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-80.00%	-39.61%	-40.39%
Max Drawdown (1Y) Largest decline over 1 year	-30.53%	-4.78%	-25.75%
Max Drawdown (3Y) Largest decline over 3 years	-63.35%	-18.49%	-44.86%
Max Drawdown (5Y) Largest decline over 5 years	-80.00%	-18.49%	-61.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.29%	—
Current Drawdown Current decline from peak	-59.70%	-0.74%	-58.96%
Average Drawdown Average peak-to-trough decline	-51.61%	-5.13%	-46.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.34%	1.32%	+12.02%

Volatility

HDGB.L vs. PRUS.L - Volatility Comparison

VanEck Hydrogen Economy UCITS ETF USD (Acc) (HDGB.L) has a higher volatility of 10.38% compared to Invesco RAFI US Fundamental Value UCITS ETF USD (Dist) (PRUS.L) at 2.60%. This indicates that HDGB.L's price experiences larger fluctuations and is considered to be riskier than PRUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDGB.L	PRUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.38%	2.60%	+7.78%
Volatility (6M) Calculated over the trailing 6-month period	27.41%	8.07%	+19.34%
Volatility (1Y) Calculated over the trailing 1-year period	39.12%	10.60%	+28.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.53%	14.43%	+20.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.61%	16.23%	+18.38%

HDGB.L vs. PRUS.L - Expense Ratio Comparison

HDGB.L has a 0.55% expense ratio, which is higher than PRUS.L's 0.39% expense ratio.

Dividends

HDGB.L vs. PRUS.L - Dividend Comparison

HDGB.L has not paid dividends to shareholders, while PRUS.L's dividend yield for the trailing twelve months is around 1.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDGB.L VanEck Hydrogen Economy UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRUS.L Invesco RAFI US Fundamental Value UCITS ETF USD (Dist)	1.16%	1.36%	1.49%	1.56%	1.72%	1.32%	1.66%	1.64%	1.83%	1.55%	1.62%	1.68%

Frequently Asked Questions

Can I hold both HDGB.L and PRUS.L in my portfolio?

HDGB.L and PRUS.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDGB.L or PRUS.L?

On fees, PRUS.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDGB.L or PRUS.L?

PRUS.L is cheaper with a 0.39% expense ratio, compared with 0.55% for HDGB.L.

What is the main difference between HDGB.L and PRUS.L?

HDGB.L is categorized as Hydrogen Economy, while PRUS.L is Large Cap Value Equities. HDGB.L tracks MVIS Global Hydrogen Economy ESG Index, while PRUS.L tracks RAFI Fundamental US Index (USD). They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for HDGB.L and 0.39% for PRUS.L.