HGEN.AX vs. IVE.AX
HGEN.AX (Global X Hydrogen ETF) and IVE.AX (iShares MSCI EAFE ETF (AU)) are both Global Equities funds - HGEN.AX tracks the Global X Hydrogen Index while IVE.AX tracks the iShares MSCI EAFE Index. Both are passively managed. Over the past 3 years, HGEN.AX returned 9.56%/yr vs 12.87%/yr for IVE.AX. At a 0.44 correlation, their price movements are largely independent.
Performance
HGEN.AX vs. IVE.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 IVE.AX's 3.52% return.
HGEN.AX
- 1D
- -6.71%
- 1M
- -22.55%
- 6M
- 6.70%
- YTD
- 34.18%
- 1Y
- 81.42%
- 3Y*
- 9.56%
- 5Y*
- —
- 10Y*
- —
IVE.AX
- 1D
- -1.72%
- 1M
- -1.09%
- 6M
- 0.19%
- YTD
- 3.52%
- 1Y
- 10.92%
- 3Y*
- 12.87%
- 5Y*
- 9.77%
- 10Y*
- 9.87%
HGEN.AX vs. IVE.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% |
IVE.AX iShares MSCI EAFE ETF (AU) | 3.52% | 21.53% | 11.29% | 16.82% | -6.23% | 3.46% |
Correlation
The correlation between HGEN.AX and IVE.AX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | 0.44 |
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Return for Risk
HGEN.AX vs. IVE.AX — Risk / Return Rank
HGEN.AX
IVE.AX
HGEN.AX vs. IVE.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 EAFE ETF (AU) (IVE.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 | IVE.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.17 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 0.99 | +1.72 |
| Martin ratioReturn relative to average drawdown | 8.25 | 3.36 | +4.90 |
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Drawdowns
HGEN.AX vs. IVE.AX - Drawdown Comparison
The maximum HGEN.AX drawdown since its inception was -72.54%, which is greater than IVE.AX's maximum drawdown of -45.63%. Use the drawdown chart below to compare losses from any high point for HGEN.AX and IVE.AX.
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Drawdown Indicators
| HGEN.AX | IVE.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.54% | -45.63% | -26.91% |
Max Drawdown (1Y)Largest decline over 1 year | -29.11% | -10.66% | -18.45% |
Max Drawdown (3Y)Largest decline over 3 years | -49.84% | -10.66% | -39.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.20% | — |
Current DrawdownCurrent decline from peak | -30.24% | -3.35% | -26.89% |
Average DrawdownAverage peak-to-trough decline | -47.61% | -13.68% | -33.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.68% | 3.18% | +6.50% |
Volatility
HGEN.AX vs. IVE.AX - Volatility Comparison
Global X Hydrogen ETF (HGEN.AX) has a higher volatility of 14.51% compared to iShares MSCI EAFE ETF (AU) (IVE.AX) at 3.31%. This indicates that HGEN.AX's price experiences larger fluctuations and is considered to be riskier than IVE.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 | IVE.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.51% | 3.31% | +11.20% |
Volatility (6M)Calculated over the trailing 6-month period | 33.68% | 10.99% | +22.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.24% | 12.52% | +34.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.75% | 12.14% | +24.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.75% | 12.77% | +23.98% |
Dividends
HGEN.AX vs. IVE.AX - Dividend Comparison
HGEN.AX's dividend yield for the trailing twelve months is around 0.83%, less than IVE.AX's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
IVE.AX iShares MSCI EAFE ETF (AU) | 3.65% | 3.54% | 1.59% | 2.76% | 3.74% | 3.49% | 2.53% | 4.82% | 3.37% | 1.17% |
Frequently Asked Questions
HGEN.AX and IVE.AX have a correlation of 0.37, 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 IVE.AX tracks iShares MSCI EAFE Index. They also come from different issuers: Global X and iShares.
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