HGEN.AX vs. GGUS.AX
HGEN.AX (Global X Hydrogen ETF) and GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) are both Global Equities funds. HGEN.AX is passively managed, while GGUS.AX is actively managed. Over the past 3 years, HGEN.AX returned 9.56%/yr vs 29.41%/yr for GGUS.AX. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
HGEN.AX vs. GGUS.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 GGUS.AX's 15.21% return.
HGEN.AX
- 1D
- -6.71%
- 1M
- -22.55%
- 6M
- 6.70%
- YTD
- 34.18%
- 1Y
- 81.42%
- 3Y*
- 9.56%
- 5Y*
- —
- 10Y*
- —
GGUS.AX
- 1D
- -2.97%
- 1M
- -2.35%
- 6M
- 12.93%
- YTD
- 15.21%
- 1Y
- 36.63%
- 3Y*
- 29.41%
- 5Y*
- 13.72%
- 10Y*
- 20.86%
HGEN.AX vs. GGUS.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% |
GGUS.AX Betashares Geared US Equities Currency Hedged Complex ETF | 15.21% | 18.83% | 45.64% | 49.70% | -47.20% | 24.43% |
Correlation
The correlation between HGEN.AX and GGUS.AX is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | 0.54 |
The correlation between HGEN.AX and GGUS.AX has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
HGEN.AX vs. GGUS.AX — Risk / Return Rank
HGEN.AX
GGUS.AX
HGEN.AX vs. GGUS.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 US Equities Currency Hedged Complex ETF (GGUS.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 | GGUS.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.23 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 1.71 | +1.00 |
| Martin ratioReturn relative to average drawdown | 8.25 | 6.88 | +1.37 |
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Drawdowns
HGEN.AX vs. GGUS.AX - Drawdown Comparison
The maximum HGEN.AX drawdown since its inception was -72.54%, which is greater than GGUS.AX's maximum drawdown of -64.26%. Use the drawdown chart below to compare losses from any high point for HGEN.AX and GGUS.AX.
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Drawdown Indicators
| HGEN.AX | GGUS.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.54% | -64.26% | -8.28% |
Max Drawdown (1Y)Largest decline over 1 year | -29.11% | -20.90% | -8.21% |
Max Drawdown (3Y)Largest decline over 3 years | -49.84% | -46.78% | -3.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.26% | — |
Current DrawdownCurrent decline from peak | -30.24% | -4.40% | -25.84% |
Average DrawdownAverage peak-to-trough decline | -47.61% | -13.41% | -34.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.68% | 5.25% | +4.43% |
Volatility
HGEN.AX vs. GGUS.AX - Volatility Comparison
Global X Hydrogen ETF (HGEN.AX) has a higher volatility of 14.51% compared to Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) at 6.38%. This indicates that HGEN.AX's price experiences larger fluctuations and is considered to be riskier than GGUS.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 | GGUS.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.51% | 6.38% | +8.13% |
Volatility (6M)Calculated over the trailing 6-month period | 33.68% | 25.73% | +7.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.24% | 30.52% | +16.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.75% | 41.72% | -4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.75% | 40.74% | -3.99% |
Dividends
HGEN.AX vs. GGUS.AX - Dividend Comparison
HGEN.AX's dividend yield for the trailing twelve months is around 0.83%, while GGUS.AX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GGUS.AX Betashares Geared US Equities Currency Hedged Complex ETF | 0.00% | 1.69% | 0.00% | 0.00% | 6.12% | 2.52% | 0.00% | 0.12% | 0.96% | 0.62% | 0.89% |
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% |
Frequently Asked Questions
HGEN.AX and GGUS.AX have a correlation of 0.56, 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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