HJEN vs. SMOG

Last updated Aug 2, 2026

HJEN (Direxion Hydrogen ETF) and SMOG (VanEck Low Carbon Energy ETF) are both Alternative Energy Equities funds - HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net while SMOG tracks the MVIS Global Low Carbon Energy Index. Both are passively managed. Their 0.63 correlation means they have sometimes moved together and sometimes differently. HJEN charges 0.45%/yr vs 0.61%/yr for SMOG.

Performance

HJEN vs. SMOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Hydrogen ETF (HJEN) and VanEck Low Carbon Energy ETF (SMOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HJEN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SMOG

• 1D: -0.65%
• 1M: -5.95%
• 6M: -2.63%
• YTD: 3.88%
• 1Y: 21.84%
• 3Y*: 3.43%
• 5Y*: -1.82%
• 10Y*: 11.20%
• ALL TIME*: 1.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMOG VanEck Low Carbon Energy ETF	$157.81K	$358.46K	$379.36K

HJEN vs. SMOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-11.04%
SMOG VanEck Low Carbon Energy ETF	3.88%	33.36%	-9.33%	1.42%	-29.92%	9.10%

Correlation

The correlation between HJEN and SMOG is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.63

The correlation between HJEN and SMOG shifts across timeframes, from 0.37 (3 years) to 0.63 (all time), reflecting how their relationship changes across market environments.

HJEN vs. SMOG - Sectors Allocation Comparison

Sectors	HJEN	SMOG
Industrials	31.7%	25.5%
Basic Materials	9.2%	5.3%
Energy	8.3%	1.4%
Technology	7.6%	5.9%
Financial Services	3.3%	0.6%
Communication Services	-	-
Consumer Cyclical	-	21.8%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	39.3%

Return for Risk

HJEN vs. SMOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HJEN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SMOG

SMOG Risk / Return Rank: 38
SMOG Sharpe Ratio Rank: 38
SMOG Sortino Ratio Rank: 37
SMOG Omega Ratio Rank: 37
SMOG Calmar Ratio Rank: 36
SMOG Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HJEN vs. SMOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Hydrogen ETF (HJEN) and VanEck Low Carbon Energy ETF (SMOG). 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.

	HJEN	SMOG	Difference
Sharpe ratio: Return per unit of total volatility	—	0.95	—
Sortino ratio: Return per unit of downside risk	—	1.40	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	1.27	—
Martin ratio: Return relative to average drawdown	—	4.26	—

Drawdowns

Drawdown Indicators

	HJEN	SMOG	Difference
Max Drawdown Largest peak-to-trough decline	—	-84.39%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-16.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.10%	—
Current Drawdown Current decline from peak	—	-24.93%	—
Average Drawdown Average peak-to-trough decline	—	-52.20%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.03%	—

Volatility

Volatility by Period

	HJEN	SMOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.55%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	25.44%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	25.77%	—

HJEN vs. SMOG - Expense Ratio Comparison

HJEN has a 0.45% expense ratio, which is lower than SMOG's 0.61% expense ratio.

Dividends

HJEN vs. SMOG - Dividend Comparison

HJEN has not paid dividends to shareholders, while SMOG's dividend yield for the trailing twelve months is around 1.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMOG VanEck Low Carbon Energy ETF	1.51%	1.57%	1.64%	1.58%	1.32%	0.44%	0.06%	0.00%	0.62%	1.25%	2.12%	0.56%

Frequently Asked Questions

Can I hold both HJEN and SMOG in my portfolio?

HJEN and SMOG have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HJEN or SMOG?

On fees, HJEN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HJEN or SMOG?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.61% for SMOG.

Which ETF pays a higher dividend yield, HJEN or SMOG?

SMOG has the higher dividend yield at 1.51%, compared with 0.00% for HJEN.

What is the main difference between HJEN and SMOG?

HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net, while SMOG tracks MVIS Global Low Carbon Energy Index. They also come from different issuers: Direxion and VanEck. Their fees differ too: 0.45% for HJEN and 0.61% for SMOG.