HDRO.L vs. HYGN.L
HDRO.L (VanEck Hydrogen Economy UCITS ETF) and HYGN.L (Global X Hydrogen UCITS ETF USD (Acc)) are both Alternative Energy Equities funds - HDRO.L tracks the MVIS Global Hydrogen Economy ESG Index while HYGN.L tracks the Solactive Global Hydrogen v2 Index. Both are passively managed. Over the past 3 years, HDRO.L returned -7.49%/yr vs -3.55%/yr for HYGN.L. Their correlation of 0.91 suggests significant overlap in exposure. HDRO.L charges 0.55%/yr vs 0.50%/yr for HYGN.L.
Performance
HDRO.L vs. HYGN.L - Performance Comparison
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Returns By Period
In the year-to-date period, HDRO.L achieves a 33.03% return, which is significantly higher than HYGN.L's 31.14% 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*
- —
HYGN.L
- 1D
- -2.88%
- 1M
- -28.95%
- 6M
- 6.89%
- YTD
- 31.14%
- 1Y
- 75.72%
- 3Y*
- -3.55%
- 5Y*
- —
- 10Y*
- —
HDRO.L vs. HYGN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HDRO.L VanEck Hydrogen Economy UCITS ETF | 33.03% | 17.65% | -29.87% | -23.69% | -23.02% |
HYGN.L Global X Hydrogen UCITS ETF USD (Acc) | 31.14% | 54.56% | -33.06% | -34.76% | -26.91% |
Correlation
The correlation between HDRO.L and HYGN.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022 | 0.91 |
The correlation between HDRO.L and HYGN.L has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
HDRO.L vs. HYGN.L — Risk / Return Rank
HDRO.L
HYGN.L
HDRO.L vs. HYGN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Hydrogen Economy UCITS ETF (HDRO.L) and Global X Hydrogen UCITS ETF USD (Acc) (HYGN.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 | HYGN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.62 | +0.19 |
| Martin ratioReturn relative to average drawdown | 4.13 | 4.54 | -0.41 |
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Drawdowns
HDRO.L vs. HYGN.L - Drawdown Comparison
The maximum HDRO.L drawdown since its inception was -81.32%, roughly equal to the maximum HYGN.L drawdown of -83.04%. Use the drawdown chart below to compare losses from any high point for HDRO.L and HYGN.L.
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Drawdown Indicators
| HDRO.L | HYGN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.32% | -83.04% | +1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -30.37% | -46.52% | +16.15% |
Max Drawdown (3Y)Largest decline over 3 years | -63.41% | -69.01% | +5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -81.02% | — | — |
Current DrawdownCurrent decline from peak | -60.19% | -51.27% | -8.92% |
Average DrawdownAverage peak-to-trough decline | -53.87% | -54.98% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 16.63% | -3.31% |
Volatility
HDRO.L vs. HYGN.L - Volatility Comparison
The current volatility for VanEck Hydrogen Economy UCITS ETF (HDRO.L) is 9.95%, while Global X Hydrogen UCITS ETF USD (Acc) (HYGN.L) has a volatility of 19.00%. This indicates that HDRO.L experiences smaller price fluctuations and is considered to be less risky than HYGN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDRO.L | HYGN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 19.00% | -9.05% |
Volatility (6M)Calculated over the trailing 6-month period | 27.77% | 41.23% | -13.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 57.09% | -17.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.68% | 51.78% | -13.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.54% | 51.78% | -13.24% |
HDRO.L vs. HYGN.L - Expense Ratio Comparison
HDRO.L has a 0.55% expense ratio, which is higher than HYGN.L's 0.50% expense ratio.
Dividends
HDRO.L vs. HYGN.L - Dividend Comparison
Neither HDRO.L nor HYGN.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, HDRO.L and HYGN.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HYGN.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGN.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HDRO.L.
HDRO.L tracks MVIS Global Hydrogen Economy ESG Index, while HYGN.L tracks Solactive Global Hydrogen v2 Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.55% for HDRO.L and 0.50% for HYGN.L.
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