HGEN.AX vs. GEAR.AX
HGEN.AX (Global X Hydrogen ETF) and GEAR.AX (Betashares Geared Australian Equities Complex ETF) are both Global Equities funds. HGEN.AX is passively managed, while GEAR.AX is actively managed. Over the past 3 years, HGEN.AX returned 9.56%/yr vs 13.45%/yr for GEAR.AX. At a 0.46 correlation, their price movements are largely independent.
Performance
HGEN.AX vs. GEAR.AX - Performance Comparison
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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 GEAR.AX's 0.21% return.
HGEN.AX
- 1D
- -6.71%
- 1M
- -22.55%
- 6M
- 6.70%
- YTD
- 34.18%
- 1Y
- 81.42%
- 3Y*
- 9.56%
- 5Y*
- —
- 10Y*
- —
GEAR.AX
- 1D
- -1.07%
- 1M
- -4.38%
- 6M
- -2.86%
- YTD
- 0.21%
- 1Y
- 2.61%
- 3Y*
- 13.45%
- 5Y*
- 8.02%
- 10Y*
- 10.16%
HGEN.AX vs. GEAR.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HGEN.AX Global X Hydrogen ETF | 34.18% | 43.64% | -10.40% | -20.10% | -36.18% | 7.90% |
GEAR.AX Betashares Geared Australian Equities Complex ETF | 0.21% | 15.80% | 13.80% | 15.84% | -9.50% | 6.65% |
Correlation
The correlation between HGEN.AX and GEAR.AX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | 0.46 |
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Return for Risk
HGEN.AX vs. GEAR.AX — Risk / Return Rank
HGEN.AX
GEAR.AX
HGEN.AX vs. GEAR.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HGEN.AX) and Betashares Geared Australian Equities Complex ETF (GEAR.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 | GEAR.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.04 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 0.14 | +2.57 |
| Martin ratioReturn relative to average drawdown | 8.25 | 0.30 | +7.95 |
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Drawdowns
HGEN.AX vs. GEAR.AX - Drawdown Comparison
The maximum HGEN.AX drawdown since its inception was -72.54%, which is greater than GEAR.AX's maximum drawdown of -66.50%. Use the drawdown chart below to compare losses from any high point for HGEN.AX and GEAR.AX.
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Drawdown Indicators
| HGEN.AX | GEAR.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.54% | -66.50% | -6.04% |
Max Drawdown (1Y)Largest decline over 1 year | -29.11% | -17.82% | -11.29% |
Max Drawdown (3Y)Largest decline over 3 years | -49.84% | -30.91% | -18.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.50% | — |
Current DrawdownCurrent decline from peak | -30.24% | -9.38% | -20.86% |
Average DrawdownAverage peak-to-trough decline | -47.61% | -12.21% | -35.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.68% | 8.42% | +1.26% |
Volatility
HGEN.AX vs. GEAR.AX - Volatility Comparison
Global X Hydrogen ETF (HGEN.AX) has a higher volatility of 14.51% compared to Betashares Geared Australian Equities Complex ETF (GEAR.AX) at 5.05%. This indicates that HGEN.AX's price experiences larger fluctuations and is considered to be riskier than GEAR.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.AX | GEAR.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.51% | 5.05% | +9.46% |
Volatility (6M)Calculated over the trailing 6-month period | 33.68% | 21.25% | +12.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.24% | 25.86% | +21.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.75% | 29.71% | +7.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.75% | 32.91% | +3.84% |
Dividends
HGEN.AX vs. GEAR.AX - Dividend Comparison
HGEN.AX's dividend yield for the trailing twelve months is around 0.83%, more than GEAR.AX's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEAR.AX Betashares Geared Australian Equities Complex ETF | 0.58% | 1.39% | 0.26% | 0.92% | 8.66% | 3.72% | 5.62% | 6.55% | 2.90% | 1.64% | 1.57% | 1.74% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
HGEN.AX and GEAR.AX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and BetaShares.
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