HDRO.L vs. HTWO.L
HDRO.L (VanEck Hydrogen Economy UCITS ETF) and HTWO.L (L&G Hydrogen Economy UCITS ETF USD (Acc)) are both Alternative Energy Equities funds - HDRO.L tracks the MVIS Global Hydrogen Economy ESG Index while HTWO.L tracks the Solactive Hydrogen Economy Index NTR. Both are passively managed. Over the past 5 years, HDRO.L returned -13.38%/yr vs -1.03%/yr for HTWO.L. Their correlation of 0.91 suggests significant overlap in exposure. HDRO.L charges 0.55%/yr vs 0.49%/yr for HTWO.L.
Performance
HDRO.L vs. HTWO.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HDRO.L achieves a 33.03% return, which is significantly higher than HTWO.L's 25.90% return.
HDRO.L
- 1D
- -1.68%
- 1M
- -13.41%
- 6M
- 15.22%
- YTD
- 33.03%
- 1Y
- 55.12%
- 3Y*
- -7.49%
- 5Y*
- -13.38%
- 10Y*
- —
HTWO.L
- 1D
- 0.39%
- 1M
- -14.21%
- 6M
- 11.54%
- YTD
- 25.90%
- 1Y
- 53.68%
- 3Y*
- 12.22%
- 5Y*
- -1.03%
- 10Y*
- —
HDRO.L vs. HTWO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HDRO.L VanEck Hydrogen Economy UCITS ETF | 33.03% | 17.65% | -29.87% | -23.69% | -38.95% | -17.33% |
HTWO.L L&G Hydrogen Economy UCITS ETF USD (Acc) | 25.90% | 40.50% | -8.00% | -3.49% | -37.13% | -10.53% |
Correlation
The correlation between HDRO.L and HTWO.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021 | 0.91 |
The correlation between HDRO.L and HTWO.L has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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
HDRO.L vs. HTWO.L — Risk / Return Rank
HDRO.L
HTWO.L
HDRO.L vs. HTWO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Hydrogen Economy UCITS ETF (HDRO.L) and L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.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.
| HDRO.L | HTWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.30 | -0.49 |
| Martin ratioReturn relative to average drawdown | 4.13 | 6.91 | -2.79 |
Loading charts...
Drawdowns
HDRO.L vs. HTWO.L - Drawdown Comparison
The maximum HDRO.L drawdown since its inception was -81.32%, which is greater than HTWO.L's maximum drawdown of -68.35%. Use the drawdown chart below to compare losses from any high point for HDRO.L and HTWO.L.
Loading charts...
Drawdown Indicators
| HDRO.L | HTWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.32% | -68.35% | -12.97% |
Max Drawdown (1Y)Largest decline over 1 year | -30.37% | -23.23% | -7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -63.41% | -32.23% | -31.18% |
Max Drawdown (5Y)Largest decline over 5 years | -81.02% | -59.35% | -21.67% |
Current DrawdownCurrent decline from peak | -60.19% | -33.88% | -26.31% |
Average DrawdownAverage peak-to-trough decline | -53.87% | -48.83% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 7.74% | +5.58% |
Volatility
HDRO.L vs. HTWO.L - Volatility Comparison
The current volatility for VanEck Hydrogen Economy UCITS ETF (HDRO.L) is 9.95%, while L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.L) has a volatility of 10.56%. This indicates that HDRO.L experiences smaller price fluctuations and is considered to be less risky than HTWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HDRO.L | HTWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 10.56% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 27.77% | 23.62% | +4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 32.48% | +7.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.68% | 29.27% | +9.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.54% | 29.37% | +9.17% |
HDRO.L vs. HTWO.L - Expense Ratio Comparison
HDRO.L has a 0.55% expense ratio, which is higher than HTWO.L's 0.49% expense ratio.
Dividends
HDRO.L vs. HTWO.L - Dividend Comparison
Neither HDRO.L nor HTWO.L has paid dividends to shareholders.
Frequently Asked Questions
HDRO.L and HTWO.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HTWO.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HTWO.L is cheaper with a 0.49% expense ratio, compared with 0.55% for HDRO.L.
HDRO.L tracks MVIS Global Hydrogen Economy ESG Index, while HTWO.L tracks Solactive Hydrogen Economy Index NTR. They also come from different issuers: VanEck and L&G. Their fees differ too: 0.55% for HDRO.L and 0.49% for HTWO.L.
Find the right allocation for HDRO.L and HTWO.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