HGEN.AX vs. ESGI.AX

Last updated Jul 16, 2026

HGEN.AX (Global X Hydrogen ETF) and ESGI.AX (VanEck MSCI International Sustainable Equity ETF) are both Global Equities funds - HGEN.AX tracks the Global X Hydrogen Index while ESGI.AX tracks the MSCI World ex Australia ex Fossil Fuel Select SRI and Low Carbon Capped Index. Both are passively managed. Over the past 3 years, HGEN.AX returned 12.54%/yr vs 14.32%/yr for ESGI.AX. At a 0.40 correlation, their price movements are largely independent.

Performance

HGEN.AX vs. ESGI.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Global X Hydrogen ETF (HGEN.AX) and VanEck MSCI International Sustainable Equity ETF (ESGI.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HGEN.AX achieves a 43.83% return, which is significantly higher than ESGI.AX's 6.43% return.

HGEN.AX

• 1D: -3.10%
• 1M: -14.66%
• 6M: 13.86%
• YTD: 43.83%
• 1Y: 92.59%
• 3Y*: 12.54%
• 5Y*: —
• 10Y*: —

ESGI.AX

• 1D: -0.45%
• 1M: 4.59%
• 6M: 4.93%
• YTD: 6.43%
• 1Y: 8.19%
• 3Y*: 14.32%
• 5Y*: 10.39%
• 10Y*: —

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

HGEN.AX vs. ESGI.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HGEN.AX Global X Hydrogen ETF	43.83%	43.64%	-10.40%	-20.10%	-36.18%	7.90%
ESGI.AX VanEck MSCI International Sustainable Equity ETF	6.43%	6.29%	23.14%	16.95%	-7.32%	7.88%

Correlation

The correlation between HGEN.AX and ESGI.AX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021	0.40

The correlation between HGEN.AX and ESGI.AX shifts across timeframes, from 0.23 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HGEN.AX vs. ESGI.AX — Risk / Return Rank

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

HGEN.AX

HGEN.AX Risk / Return Rank: 71
HGEN.AX Sharpe Ratio Rank: 76
HGEN.AX Sortino Ratio Rank: 67
HGEN.AX Omega Ratio Rank: 63
HGEN.AX Calmar Ratio Rank: 83
HGEN.AX Martin Ratio Rank: 67

ESGI.AX

ESGI.AX Risk / Return Rank: 19
ESGI.AX Sharpe Ratio Rank: 21
ESGI.AX Sortino Ratio Rank: 21
ESGI.AX Omega Ratio Rank: 20
ESGI.AX Calmar Ratio Rank: 17
ESGI.AX Martin Ratio Rank: 17

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.

HGEN.AX vs. ESGI.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HGEN.AX) and VanEck MSCI International Sustainable Equity ETF (ESGI.AX). 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.

	HGEN.AX	ESGI.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	0.62	+1.32
Sortino ratio: Return per unit of downside risk	2.50	0.98	+1.52
Omega ratio: Gain probability vs. loss probability	1.31	1.12	+0.19
Calmar ratio: Return relative to maximum drawdown	3.61	0.60	+3.02
Martin ratio: Return relative to average drawdown	9.67	1.38	+8.29

HGEN.AX vs. ESGI.AX - Sharpe Ratio Comparison

The current HGEN.AX Sharpe Ratio is 1.94, which is higher than the ESGI.AX Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of HGEN.AX and ESGI.AX, 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

HGEN.AX vs. ESGI.AX - Drawdown Comparison

The maximum HGEN.AX drawdown since its inception was -72.54%, which is greater than ESGI.AX's maximum drawdown of -22.88%. Use the drawdown chart below to compare losses from any high point for HGEN.AX and ESGI.AX.

Drawdown Indicators

	HGEN.AX	ESGI.AX	Difference
Max Drawdown Largest peak-to-trough decline	-72.54%	-22.88%	-49.66%
Max Drawdown (1Y) Largest decline over 1 year	-25.14%	-14.92%	-10.22%
Max Drawdown (3Y) Largest decline over 3 years	-49.84%	-14.92%	-34.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.38%	—
Current Drawdown Current decline from peak	-25.22%	-1.00%	-24.22%
Average Drawdown Average peak-to-trough decline	-47.63%	-4.51%	-43.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.50%	6.53%	+2.97%

Volatility

HGEN.AX vs. ESGI.AX - Volatility Comparison

Global X Hydrogen ETF (HGEN.AX) has a higher volatility of 13.18% compared to VanEck MSCI International Sustainable Equity ETF (ESGI.AX) at 3.61%. This indicates that HGEN.AX's price experiences larger fluctuations and is considered to be riskier than ESGI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGEN.AX	ESGI.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.18%	3.61%	+9.57%
Volatility (6M) Calculated over the trailing 6-month period	32.95%	12.18%	+20.77%
Volatility (1Y) Calculated over the trailing 1-year period	46.74%	14.33%	+32.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.64%	13.00%	+23.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.64%	13.86%	+22.78%

Dividends

HGEN.AX vs. ESGI.AX - Dividend Comparison

HGEN.AX's dividend yield for the trailing twelve months is around 0.78%, less than ESGI.AX's 2.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESGI.AX VanEck MSCI International Sustainable Equity ETF	2.71%	6.43%	6.58%	3.35%	2.39%	1.42%	1.50%	1.55%	0.52%
HGEN.AX Global X Hydrogen ETF	0.78%	0.34%	0.60%	0.17%	0.09%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HGEN.AX and ESGI.AX in my portfolio?

HGEN.AX and ESGI.AX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HGEN.AX and ESGI.AX?

HGEN.AX tracks Global X Hydrogen Index, while ESGI.AX tracks MSCI World ex Australia ex Fossil Fuel Select SRI and Low Carbon Capped Index. They also come from different issuers: Global X and VanEck.