HTWG.L vs. EMAG.L
HTWG.L (L&G Hydrogen Economy UCITS ETF) and EMAG.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)) are both exchange-traded funds - HTWG.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR, while EMAG.L is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index. Both are passively managed. Over the past 3 years, HTWG.L returned 13.36%/yr vs 5.31%/yr for EMAG.L. At a correlation of -0.04, they often move in opposite directions. HTWG.L charges 0.49%/yr vs 0.35%/yr for EMAG.L.
Performance
HTWG.L vs. EMAG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HTWG.L achieves a 30.29% return, which is significantly higher than EMAG.L's 0.97% return.
HTWG.L
- 1D
- -2.57%
- 1M
- -10.03%
- 6M
- 17.89%
- YTD
- 30.29%
- 1Y
- 59.88%
- 3Y*
- 13.36%
- 5Y*
- 0.14%
- 10Y*
- —
EMAG.L
- 1D
- -0.65%
- 1M
- -0.63%
- 6M
- 0.63%
- YTD
- 0.97%
- 1Y
- 4.81%
- 3Y*
- 5.31%
- 5Y*
- —
- 10Y*
- —
HTWG.L vs. EMAG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HTWG.L L&G Hydrogen Economy UCITS ETF | 30.29% | 30.68% | -6.72% | -8.50% | -29.54% | -3.17% |
EMAG.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) | 0.97% | 0.75% | 7.46% | 0.98% | -0.82% | 1.27% |
Correlation
The correlation between HTWG.L and EMAG.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2021 | -0.04 |
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Return for Risk
HTWG.L vs. EMAG.L — Risk / Return Rank
HTWG.L
EMAG.L
HTWG.L vs. EMAG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Hydrogen Economy UCITS ETF (HTWG.L) and L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAG.L). 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.
| HTWG.L | EMAG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.14 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.14 | +1.81 |
| Martin ratioReturn relative to average drawdown | 8.08 | 2.81 | +5.27 |
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Drawdowns
HTWG.L vs. EMAG.L - Drawdown Comparison
The maximum HTWG.L drawdown since its inception was -65.19%, which is greater than EMAG.L's maximum drawdown of -11.32%. Use the drawdown chart below to compare losses from any high point for HTWG.L and EMAG.L.
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Drawdown Indicators
| HTWG.L | EMAG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.19% | -11.32% | -53.87% |
Max Drawdown (1Y)Largest decline over 1 year | -20.22% | -4.20% | -16.02% |
Max Drawdown (3Y)Largest decline over 3 years | -31.88% | -8.30% | -23.58% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | — | — |
Current DrawdownCurrent decline from peak | -28.37% | -2.56% | -25.81% |
Average DrawdownAverage peak-to-trough decline | -44.71% | -4.05% | -40.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.39% | 1.71% | +5.68% |
Volatility
HTWG.L vs. EMAG.L - Volatility Comparison
L&G Hydrogen Economy UCITS ETF (HTWG.L) has a higher volatility of 11.13% compared to L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAG.L) at 1.96%. This indicates that HTWG.L's price experiences larger fluctuations and is considered to be riskier than EMAG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HTWG.L | EMAG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.13% | 1.96% | +9.17% |
Volatility (6M)Calculated over the trailing 6-month period | 21.95% | 4.36% | +17.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.07% | 5.96% | +25.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.64% | 7.85% | +18.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.84% | 7.85% | +18.99% |
HTWG.L vs. EMAG.L - Expense Ratio Comparison
HTWG.L has a 0.49% expense ratio, which is higher than EMAG.L's 0.35% expense ratio.
Dividends
HTWG.L vs. EMAG.L - Dividend Comparison
Neither HTWG.L nor EMAG.L has paid dividends to shareholders.
Frequently Asked Questions
HTWG.L and EMAG.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMAG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMAG.L is cheaper with a 0.35% expense ratio, compared with 0.49% for HTWG.L.
HTWG.L is categorized as Alternative Energy Equities, while EMAG.L is Emerging Markets Bonds. HTWG.L tracks Solactive Hydrogen Economy Index NTR, while EMAG.L tracks J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index. Their fees differ too: 0.49% for HTWG.L and 0.35% for EMAG.L.
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