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HGEN.AX vs. ETHI.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HGEN.AX vs. ETHI.AX

Last updated Jul 18, 2026
Documentation

HGEN.AX (Global X Hydrogen ETF) and ETHI.AX (Betashares Global Sustainability Leaders ETF) are both Global Equities funds - HGEN.AX tracks the Global X Hydrogen Index while ETHI.AX tracks the Nasdaq Future Global Sustainability Leaders Index. Both are passively managed. Over the past 3 years, HGEN.AX returned 9.56%/yr vs 13.29%/yr for ETHI.AX. At a 0.44 correlation, their price movements are largely independent.

Performance

HGEN.AX vs. ETHI.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Global X Hydrogen ETF (HGEN.AX) and Betashares Global Sustainability Leaders ETF (ETHI.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HGEN.AX achieves a 34.18% return, which is significantly higher than ETHI.AX's 3.50% return.

HGEN.AX

1D
-6.71%
1M
-22.55%
6M
6.70%
YTD
34.18%
1Y
81.42%
3Y*
9.56%
5Y*
—
10Y*
—

ETHI.AX

1D
-0.47%
1M
3.13%
6M
3.44%
YTD
3.50%
1Y
8.84%
3Y*
13.29%
5Y*
9.47%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
HGEN.AX
Global X Hydrogen ETF		34.18%43.64%-10.40%-20.10%-36.18%7.90%
ETHI.AX
Betashares Global Sustainability Leaders ETF		3.50%4.56%27.20%22.81%-15.53%10.19%

Correlation

The correlation between HGEN.AX and ETHI.AX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Oct 6, 2021

0.44

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Hydrogen ETF

Betashares Global Sustainability Leaders ETF

Often compared with HGEN.AX:
HGEN.AX vs. CORE.AXHGEN.AX vs. ESGI.AXHGEN.AX vs. ESTX.AXHGEN.AX vs. F100.AXHGEN.AX vs. GLIN.AXHGEN.AX vs. HJPN.AXHGEN.AX vs. IAA.AX
Often compared with ETHI.AX:
ETHI.AX vs. ARMR.AXETHI.AX vs. CORE.AXETHI.AX vs. ESGI.AXETHI.AX vs. ESTX.AXETHI.AX vs. F100.AXETHI.AX vs. VGS.AXETHI.AX vs. DHHF.AX

Return for Risk

HGEN.AX vs. ETHI.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: 6666
Overall Rank
HGEN.AX Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
HGEN.AX Sortino Ratio Rank: 6464
Sortino Ratio Rank
HGEN.AX Omega Ratio Rank: 6161
Omega Ratio Rank
HGEN.AX Calmar Ratio Rank: 7373
Calmar Ratio Rank
HGEN.AX Martin Ratio Rank: 6363
Martin Ratio Rank
ETHI.AX
ETHI.AX Risk / Return Rank: 2323
Overall Rank
ETHI.AX Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
ETHI.AX Sortino Ratio Rank: 2525
Sortino Ratio Rank
ETHI.AX Omega Ratio Rank: 2626
Omega Ratio Rank
ETHI.AX Calmar Ratio Rank: 1919
Calmar Ratio Rank
ETHI.AX Martin Ratio Rank: 1818
Martin Ratio Rank
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. ETHI.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HGEN.AX) and Betashares Global Sustainability Leaders ETF (ETHI.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.AXETHI.AXDifference
Sharpe ratioReturn per unit of total volatility
1.67
0.74

+0.93

Sortino ratioReturn per unit of downside risk
2.24
1.10

+1.14

Omega ratioGain probability vs. loss probability

1.28

1.14

+0.14

Calmar ratioReturn relative to maximum drawdown

2.71

0.57

+2.14

Martin ratioReturn relative to average drawdown

8.25

1.35

+6.90

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

The current HGEN.AX Sharpe Ratio is 1.67, which is higher than the ETHI.AX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of HGEN.AX and ETHI.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.

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Drawdowns

HGEN.AX vs. ETHI.AX - Drawdown Comparison

The maximum HGEN.AX drawdown since its inception was -72.54%, which is greater than ETHI.AX's maximum drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for HGEN.AX and ETHI.AX.

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Drawdown Indicators

HGEN.AXETHI.AXDifference

Max Drawdown

Largest peak-to-trough decline

-72.54%

-25.44%

-47.10%

Max Drawdown (1Y)

Largest decline over 1 year

-29.11%

-14.99%

-14.12%

Max Drawdown (3Y)

Largest decline over 3 years

-49.84%

-15.65%

-34.19%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.44%

—

Current Drawdown

Current decline from peak

-30.24%

-1.46%

-28.78%

Average Drawdown

Average peak-to-trough decline

-47.61%

-4.63%

-42.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.68%

6.42%

+3.26%

Volatility

HGEN.AX vs. ETHI.AX - Volatility Comparison

Global X Hydrogen ETF (HGEN.AX) has a higher volatility of 14.51% compared to Betashares Global Sustainability Leaders ETF (ETHI.AX) at 2.86%. This indicates that HGEN.AX's price experiences larger fluctuations and is considered to be riskier than ETHI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HGEN.AXETHI.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.51%

2.86%

+11.65%

Volatility (6M)

Calculated over the trailing 6-month period

33.68%

9.70%

+23.98%

Volatility (1Y)

Calculated over the trailing 1-year period

47.24%

11.66%

+35.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.75%

14.05%

+22.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.75%

14.73%

+22.02%

Dividends

HGEN.AX vs. ETHI.AX - Dividend Comparison

HGEN.AX's dividend yield for the trailing twelve months is around 0.83%, less than ETHI.AX's 1.55% yield.

PositionTTM202520242023202220212020201920182017
ETHI.AX
Betashares Global Sustainability Leaders ETF		1.55%1.86%2.11%4.40%2.43%5.04%10.20%3.90%1.69%1.13%
HGEN.AX
Global X Hydrogen ETF		0.83%0.34%0.60%0.17%0.09%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HGEN.AX and ETHI.AX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HGEN.AX tracks Global X Hydrogen Index, while ETHI.AX tracks Nasdaq Future Global Sustainability Leaders Index. They also come from different issuers: Global X and BetaShares.

Portfolio Optimizer

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