HTWG.L vs. LDEU.L

Last updated Jul 16, 2026

HTWG.L (L&G Hydrogen Economy UCITS ETF) and LDEU.L (L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis) are both exchange-traded funds - HTWG.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR, while LDEU.L is a Europe Equities fund tracking the L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis. Both are passively managed. Over the past 5 years, HTWG.L returned 0.14%/yr vs 16.82%/yr for LDEU.L. A 0.56 correlation means they provide meaningful diversification when combined. HTWG.L charges 0.49%/yr vs 0.25%/yr for LDEU.L.

Performance

HTWG.L vs. LDEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Hydrogen Economy UCITS ETF (HTWG.L) and L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis (LDEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HTWG.L is traded in GBp, while LDEU.L is traded in EUR. To make them comparable, the LDEU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HTWG.L achieves a 30.29% return, which is significantly higher than LDEU.L's 11.99% 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*: —

LDEU.L

• 1D: 0.00%
• 1M: -0.65%
• 6M: 9.70%
• YTD: 11.99%
• 1Y: 26.76%
• 3Y*: 24.77%
• 5Y*: 16.82%
• 10Y*: —

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

HTWG.L vs. LDEU.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%	-13.22%
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis	11.99%	44.92%	9.43%	14.43%	1.84%	5.93%

Correlation

The correlation between HTWG.L and LDEU.L 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	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 12, 2021	0.56

The correlation between HTWG.L and LDEU.L shifts across timeframes, from 0.44 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HTWG.L vs. LDEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HTWG.L

HTWG.L Risk / Return Rank: 68
HTWG.L Sharpe Ratio Rank: 75
HTWG.L Sortino Ratio Rank: 69
HTWG.L Omega Ratio Rank: 65
HTWG.L Calmar Ratio Rank: 72
HTWG.L Martin Ratio Rank: 57

LDEU.L

LDEU.L Risk / Return Rank: 90
LDEU.L Sharpe Ratio Rank: 92
LDEU.L Sortino Ratio Rank: 90
LDEU.L Omega Ratio Rank: 89
LDEU.L Calmar Ratio Rank: 90
LDEU.L Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HTWG.L vs. LDEU.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 Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis (LDEU.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	LDEU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.28	-0.37
Sortino ratio: Return per unit of downside risk	2.54	3.08	-0.53
Omega ratio: Gain probability vs. loss probability	1.32	1.41	-0.09
Calmar ratio: Return relative to maximum drawdown	2.95	3.40	-0.45
Martin ratio: Return relative to average drawdown	8.08	12.02	-3.94

HTWG.L vs. LDEU.L - Sharpe Ratio Comparison

The current HTWG.L Sharpe Ratio is 1.92, which is comparable to the LDEU.L Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of HTWG.L and LDEU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HTWG.L vs. LDEU.L - Drawdown Comparison

The maximum HTWG.L drawdown since its inception was -65.19%, which is greater than LDEU.L's maximum drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for HTWG.L and LDEU.L.

Drawdown Indicators

	HTWG.L	LDEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-65.19%	-17.44%	-47.75%
Max Drawdown (1Y) Largest decline over 1 year	-20.22%	-7.91%	-12.31%
Max Drawdown (3Y) Largest decline over 3 years	-31.88%	-13.34%	-18.54%
Max Drawdown (5Y) Largest decline over 5 years	-56.98%	-17.44%	-39.54%
Current Drawdown Current decline from peak	-28.37%	-1.58%	-26.79%
Average Drawdown Average peak-to-trough decline	-44.71%	-2.98%	-41.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.39%	2.24%	+5.15%

Volatility

HTWG.L vs. LDEU.L - Volatility Comparison

L&G Hydrogen Economy UCITS ETF (HTWG.L) has a higher volatility of 11.13% compared to L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis (LDEU.L) at 2.99%. This indicates that HTWG.L's price experiences larger fluctuations and is considered to be riskier than LDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HTWG.L	LDEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.13%	2.99%	+8.14%
Volatility (6M) Calculated over the trailing 6-month period	21.95%	9.61%	+12.34%
Volatility (1Y) Calculated over the trailing 1-year period	31.07%	11.77%	+19.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.64%	14.58%	+12.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.84%	14.43%	+12.41%

HTWG.L vs. LDEU.L - Expense Ratio Comparison

HTWG.L has a 0.49% expense ratio, which is higher than LDEU.L's 0.25% expense ratio.

Dividends

HTWG.L vs. LDEU.L - Dividend Comparison

HTWG.L has not paid dividends to shareholders, while LDEU.L's dividend yield for the trailing twelve months is around 3.52%.

Position	TTM	2025	2024	2023	2022	2021
HTWG.L L&G Hydrogen Economy UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis	3.52%	3.47%	4.36%	4.44%	4.17%	2.93%

Frequently Asked Questions

Can I hold both HTWG.L and LDEU.L in my portfolio?

HTWG.L and LDEU.L 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.

Which ETF is better, HTWG.L or LDEU.L?

On fees, LDEU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HTWG.L or LDEU.L?

LDEU.L is cheaper with a 0.25% expense ratio, compared with 0.49% for HTWG.L.

What is the main difference between HTWG.L and LDEU.L?

HTWG.L is categorized as Alternative Energy Equities, while LDEU.L is Europe Equities. HTWG.L tracks Solactive Hydrogen Economy Index NTR, while LDEU.L tracks L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis. Their fees differ too: 0.49% for HTWG.L and 0.25% for LDEU.L.