HDRO.L vs. RENW.L
HDRO.L (VanEck Hydrogen Economy UCITS ETF) and RENW.L (L&G Clean Energy UCITS ETF USD (Acc)) are both Alternative Energy Equities funds - HDRO.L tracks the MVIS Global Hydrogen Economy ESG Index while RENW.L tracks the Solactive Clean Energy Index NTR. Both are passively managed. Over the past 5 years, HDRO.L returned -13.38%/yr vs 5.30%/yr for RENW.L. A 0.78 correlation means they provide meaningful diversification when combined. HDRO.L charges 0.55%/yr vs 0.49%/yr for RENW.L.
Performance
HDRO.L vs. RENW.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 RENW.L's 22.11% 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*
- —
RENW.L
- 1D
- -1.07%
- 1M
- -10.32%
- 6M
- 13.78%
- YTD
- 22.11%
- 1Y
- 44.29%
- 3Y*
- 13.16%
- 5Y*
- 5.30%
- 10Y*
- —
HDRO.L vs. RENW.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% |
RENW.L L&G Clean Energy UCITS ETF USD (Acc) | 22.11% | 51.27% | -14.25% | -8.27% | -8.82% | -2.14% |
Correlation
The correlation between HDRO.L and RENW.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021 | 0.78 |
The correlation between HDRO.L and RENW.L has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.
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Return for Risk
HDRO.L vs. RENW.L — Risk / Return Rank
HDRO.L
RENW.L
HDRO.L vs. RENW.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 Clean Energy UCITS ETF USD (Acc) (RENW.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 | RENW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.66 | -0.86 |
| Martin ratioReturn relative to average drawdown | 4.13 | 9.46 | -5.34 |
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Drawdowns
HDRO.L vs. RENW.L - Drawdown Comparison
The maximum HDRO.L drawdown since its inception was -81.32%, which is greater than RENW.L's maximum drawdown of -48.58%. Use the drawdown chart below to compare losses from any high point for HDRO.L and RENW.L.
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Drawdown Indicators
| HDRO.L | RENW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.32% | -48.58% | -32.74% |
Max Drawdown (1Y)Largest decline over 1 year | -30.37% | -16.56% | -13.81% |
Max Drawdown (3Y)Largest decline over 3 years | -63.41% | -32.48% | -30.93% |
Max Drawdown (5Y)Largest decline over 5 years | -81.02% | -43.77% | -37.25% |
Current DrawdownCurrent decline from peak | -60.19% | -16.56% | -43.63% |
Average DrawdownAverage peak-to-trough decline | -53.87% | -23.61% | -30.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 4.67% | +8.65% |
Volatility
HDRO.L vs. RENW.L - Volatility Comparison
VanEck Hydrogen Economy UCITS ETF (HDRO.L) has a higher volatility of 9.95% compared to L&G Clean Energy UCITS ETF USD (Acc) (RENW.L) at 8.97%. This indicates that HDRO.L's price experiences larger fluctuations and is considered to be riskier than RENW.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 | RENW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 8.97% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 27.77% | 20.81% | +6.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 25.96% | +13.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.68% | 24.75% | +13.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.54% | 24.98% | +13.56% |
HDRO.L vs. RENW.L - Expense Ratio Comparison
HDRO.L has a 0.55% expense ratio, which is higher than RENW.L's 0.49% expense ratio.
Dividends
HDRO.L vs. RENW.L - Dividend Comparison
Neither HDRO.L nor RENW.L has paid dividends to shareholders.
Frequently Asked Questions
HDRO.L and RENW.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RENW.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RENW.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 RENW.L tracks Solactive Clean Energy 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 RENW.L.
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