HDGB.L vs. SMGB.L
HDGB.L (VanEck Hydrogen Economy UCITS ETF) and SMGB.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - HDGB.L is a Global Equities fund tracking the VanEck Hydrogen Economy UCITS ETF, while SMGB.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past 5 years, HDGB.L returned -12.57%/yr vs 36.22%/yr for SMGB.L. A 0.51 correlation means they provide meaningful diversification when combined. HDGB.L charges 0.55%/yr vs 0.35%/yr for SMGB.L.
Performance
HDGB.L vs. SMGB.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 lower than SMGB.L's 76.18% 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*
- —
SMGB.L
- 1D
- -4.19%
- 1M
- -9.43%
- 6M
- 62.45%
- YTD
- 76.18%
- 1Y
- 122.30%
- 3Y*
- 52.80%
- 5Y*
- 36.22%
- 10Y*
- —
HDGB.L vs. SMGB.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% |
SMGB.L VanEck Semiconductor UCITS ETF | 76.18% | 38.79% | 26.32% | 66.15% | -27.78% | 28.40% |
Correlation
The correlation between HDGB.L and SMGB.L is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.51 |
The correlation between HDGB.L and SMGB.L shifts across timeframes, from 0.44 (3 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HDGB.L vs. SMGB.L — Risk / Return Rank
HDGB.L
SMGB.L
HDGB.L vs. SMGB.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 Semiconductor UCITS ETF (SMGB.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 | SMGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.48 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 8.37 | -6.24 |
| Martin ratioReturn relative to average drawdown | 4.71 | 28.90 | -24.20 |
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Drawdowns
HDGB.L vs. SMGB.L - Drawdown Comparison
The maximum HDGB.L drawdown since its inception was -80.00%, which is greater than SMGB.L's maximum drawdown of -36.23%. Use the drawdown chart below to compare losses from any high point for HDGB.L and SMGB.L.
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Drawdown Indicators
| HDGB.L | SMGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.00% | -36.23% | -43.77% |
Max Drawdown (1Y)Largest decline over 1 year | -29.04% | -14.52% | -14.52% |
Max Drawdown (3Y)Largest decline over 3 years | -63.35% | -36.23% | -27.12% |
Max Drawdown (5Y)Largest decline over 5 years | -80.00% | -36.23% | -43.77% |
Current DrawdownCurrent decline from peak | -58.84% | -13.53% | -45.31% |
Average DrawdownAverage peak-to-trough decline | -51.60% | -9.77% | -41.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 4.22% | +8.97% |
Volatility
HDGB.L vs. SMGB.L - Volatility Comparison
The current volatility for VanEck Hydrogen Economy UCITS ETF (HDGB.L) is 10.35%, while VanEck Semiconductor UCITS ETF (SMGB.L) has a volatility of 16.71%. This indicates that HDGB.L experiences smaller price fluctuations and is considered to be less risky than SMGB.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 | SMGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.35% | 16.71% | -6.36% |
Volatility (6M)Calculated over the trailing 6-month period | 27.35% | 29.79% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.10% | 36.04% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.53% | 31.55% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.61% | 30.99% | +3.62% |
HDGB.L vs. SMGB.L - Expense Ratio Comparison
HDGB.L has a 0.55% expense ratio, which is higher than SMGB.L's 0.35% expense ratio.
Dividends
HDGB.L vs. SMGB.L - Dividend Comparison
Neither HDGB.L nor SMGB.L has paid dividends to shareholders.
Frequently Asked Questions
HDGB.L and SMGB.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMGB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMGB.L is cheaper with a 0.35% expense ratio, compared with 0.55% for HDGB.L.
HDGB.L is categorized as Global Equities, while SMGB.L is Semiconductors. HDGB.L tracks VanEck Hydrogen Economy UCITS ETF, while SMGB.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. Their fees differ too: 0.55% for HDGB.L and 0.35% for SMGB.L.
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