HGEN.AX vs. IKO.AX
HGEN.AX (Global X Hydrogen ETF) and IKO.AX (iShares MSCI South Korea ETF (AU)) are both Global Equities funds - HGEN.AX tracks the Global X Hydrogen Index while IKO.AX tracks the iShares MSCI South Korea Index. Both are passively managed. Over the past 3 years, HGEN.AX returned 12.54%/yr vs 37.01%/yr for IKO.AX. At a 0.45 correlation, their price movements are largely independent.
Performance
HGEN.AX vs. IKO.AX - Performance Comparison
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Returns By Period
In the year-to-date period, HGEN.AX achieves a 43.83% return, which is significantly lower than IKO.AX's 64.31% return.
HGEN.AX
- 1D
- -3.10%
- 1M
- -14.66%
- 6M
- 13.86%
- YTD
- 43.83%
- 1Y
- 92.59%
- 3Y*
- 12.54%
- 5Y*
- —
- 10Y*
- —
IKO.AX
- 1D
- -7.36%
- 1M
- -17.70%
- 6M
- 49.12%
- YTD
- 64.31%
- 1Y
- 119.84%
- 3Y*
- 37.01%
- 5Y*
- 16.67%
- 10Y*
- 14.97%
HGEN.AX vs. IKO.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% |
IKO.AX iShares MSCI South Korea ETF (AU) | 64.31% | 80.87% | -12.63% | 16.96% | -20.13% | 2.08% |
Correlation
The correlation between HGEN.AX and IKO.AX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | 0.45 |
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Return for Risk
HGEN.AX vs. IKO.AX — Risk / Return Rank
HGEN.AX
IKO.AX
HGEN.AX vs. IKO.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HGEN.AX) and iShares MSCI South Korea ETF (AU) (IKO.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 | IKO.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.40 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 5.18 | -1.57 |
| Martin ratioReturn relative to average drawdown | 9.67 | 15.73 | -6.06 |
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Drawdowns
HGEN.AX vs. IKO.AX - Drawdown Comparison
The maximum HGEN.AX drawdown since its inception was -72.54%, which is greater than IKO.AX's maximum drawdown of -57.74%. Use the drawdown chart below to compare losses from any high point for HGEN.AX and IKO.AX.
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Drawdown Indicators
| HGEN.AX | IKO.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.54% | -57.74% | -14.80% |
Max Drawdown (1Y)Largest decline over 1 year | -25.14% | -22.15% | -2.99% |
Max Drawdown (3Y)Largest decline over 3 years | -49.84% | -22.15% | -27.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.50% | — |
Current DrawdownCurrent decline from peak | -25.22% | -22.11% | -3.11% |
Average DrawdownAverage peak-to-trough decline | -47.63% | -17.29% | -30.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.50% | 7.43% | +2.07% |
Volatility
HGEN.AX vs. IKO.AX - Volatility Comparison
The current volatility for Global X Hydrogen ETF (HGEN.AX) is 13.18%, while iShares MSCI South Korea ETF (AU) (IKO.AX) has a volatility of 21.99%. This indicates that HGEN.AX experiences smaller price fluctuations and is considered to be less risky than IKO.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 | IKO.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.18% | 21.99% | -8.81% |
Volatility (6M)Calculated over the trailing 6-month period | 32.95% | 42.47% | -9.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.74% | 45.53% | +1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.64% | 27.00% | +9.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.64% | 23.38% | +13.26% |
Dividends
HGEN.AX vs. IKO.AX - Dividend Comparison
HGEN.AX's dividend yield for the trailing twelve months is around 0.78%, less than IKO.AX's 5.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HGEN.AX Global X Hydrogen ETF | 0.78% | 0.34% | 0.60% | 0.17% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IKO.AX iShares MSCI South Korea ETF (AU) | 5.85% | 0.93% | 3.03% | 1.08% | 1.86% | 0.87% | 1.84% | 1.44% | 0.00% | 0.75% | 1.85% | 1.07% |
Frequently Asked Questions
HGEN.AX and IKO.AX have a correlation of 0.44, 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 IKO.AX tracks iShares MSCI South Korea Index. They also come from different issuers: Global X and iShares.
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