HTWO.L vs. HTWG.L

Last updated Jul 16, 2026

HTWO.L (L&G Hydrogen Economy UCITS ETF) and HTWG.L (L&G Hydrogen Economy UCITS ETF) are both exchange-traded funds - HTWO.L is a Global Equities fund tracking the L&G Hydrogen Economy UCITS ETF, while HTWG.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR. Both are passively managed. Over the past 5 years, HTWO.L returned -0.51%/yr vs -0.18%/yr for HTWG.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.49% expense ratio.

Performance

HTWO.L vs. HTWG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Hydrogen Economy UCITS ETF (HTWO.L) and L&G Hydrogen Economy UCITS ETF (HTWG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HTWO.L achieves a 29.27% return, which is significantly lower than HTWG.L's 31.05% return.

HTWO.L

• 1D: 0.09%
• 1M: -10.01%
• 6M: 17.06%
• YTD: 29.27%
• 1Y: 59.38%
• 3Y*: 13.91%
• 5Y*: -0.51%
• 10Y*: —

HTWG.L

• 1D: -1.46%
• 1M: -9.22%
• 6M: 18.72%
• YTD: 31.05%
• 1Y: 61.73%
• 3Y*: 14.62%
• 5Y*: -0.18%
• 10Y*: —

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

HTWO.L vs. HTWG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HTWO.L L&G Hydrogen Economy UCITS ETF	29.27%	40.50%	-8.00%	-3.49%	-37.13%	-33.03%
HTWG.L L&G Hydrogen Economy UCITS ETF	31.05%	40.54%	-8.27%	-3.67%	-37.07%	-31.56%

Correlation

The correlation between HTWO.L and HTWG.L is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 10, 2021	0.96

The correlation between HTWO.L and HTWG.L has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

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

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

HTWO.L

HTWO.L Risk / Return Rank: 66
HTWO.L Sharpe Ratio Rank: 73
HTWO.L Sortino Ratio Rank: 68
HTWO.L Omega Ratio Rank: 63
HTWO.L Calmar Ratio Rank: 71
HTWO.L Martin Ratio Rank: 57

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

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.

HTWO.L vs. HTWG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Hydrogen Economy UCITS ETF (HTWO.L) and L&G Hydrogen Economy UCITS ETF (HTWG.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.

	HTWO.L	HTWG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.92	-0.06
Sortino ratio: Return per unit of downside risk	2.51	2.54	-0.03
Omega ratio: Gain probability vs. loss probability	1.31	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	2.88	2.96	-0.08
Martin ratio: Return relative to average drawdown	7.98	8.25	-0.27

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

The current HTWO.L Sharpe Ratio is 1.87, which is comparable to the HTWG.L Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of HTWO.L and HTWG.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

HTWO.L vs. HTWG.L - Drawdown Comparison

The maximum HTWO.L drawdown since its inception was -68.35%, roughly equal to the maximum HTWG.L drawdown of -67.81%. Use the drawdown chart below to compare losses from any high point for HTWO.L and HTWG.L.

Drawdown Indicators

	HTWO.L	HTWG.L	Difference
Max Drawdown Largest peak-to-trough decline	-68.35%	-67.81%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	-20.94%	-20.72%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-32.36%	-32.66%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-59.35%	-59.41%	+0.06%
Current Drawdown Current decline from peak	-32.10%	-29.91%	-2.19%
Average Drawdown Average peak-to-trough decline	-48.84%	-47.93%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.58%	7.46%	+0.12%

Volatility

HTWO.L vs. HTWG.L - Volatility Comparison

The current volatility for L&G Hydrogen Economy UCITS ETF (HTWO.L) is 10.34%, while L&G Hydrogen Economy UCITS ETF (HTWG.L) has a volatility of 11.15%. This indicates that HTWO.L experiences smaller price fluctuations and is considered to be less risky than HTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HTWO.L	HTWG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.34%	11.15%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	23.43%	22.82%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	32.34%	31.93%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.25%	29.04%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.35%	29.09%	+0.26%

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

Both HTWO.L and HTWG.L have an expense ratio of 0.49%.

Dividends

HTWO.L vs. HTWG.L - Dividend Comparison

Neither HTWO.L nor HTWG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.95, HTWO.L and HTWG.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

HTWO.L and HTWG.L have the same expense ratio: 0.49% per year.

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

HTWO.L is categorized as Global Equities, while HTWG.L is Alternative Energy Equities. HTWO.L tracks L&G Hydrogen Economy UCITS ETF, while HTWG.L tracks Solactive Hydrogen Economy Index NTR.