HTWO.L vs. RIEU.L

Last updated Jul 18, 2026

HTWO.L (L&G Hydrogen Economy UCITS ETF USD (Acc)) and RIEU.L (L&G MSCI Europe Select UCITS ETF EUR (Acc)) are both exchange-traded funds - HTWO.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR, while RIEU.L is a Europe Equities fund tracking the MSCI Global Select 500 Index – Europe Subset. Both are passively managed. Over the past 5 years, HTWO.L returned -1.03%/yr vs 7.71%/yr for RIEU.L. A 0.65 correlation means they provide meaningful diversification when combined. HTWO.L charges 0.49%/yr vs 0.10%/yr for RIEU.L.

Performance

HTWO.L vs. RIEU.L - Performance Comparison

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

Different Trading Currencies

HTWO.L is traded in USD, while RIEU.L is traded in EUR. To make them comparable, the RIEU.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 25.90% return, which is significantly higher than RIEU.L's 5.96% return.

HTWO.L

• 1D: 0.39%
• 1M: -14.21%
• 6M: 11.54%
• YTD: 25.90%
• 1Y: 53.68%
• 3Y*: 12.22%
• 5Y*: -1.03%
• 10Y*: —

RIEU.L

• 1D: -0.30%
• 1M: 0.16%
• 6M: 4.02%
• YTD: 5.96%
• 1Y: 14.35%
• 3Y*: 13.33%
• 5Y*: 7.71%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
HTWO.L L&G Hydrogen Economy UCITS ETF USD (Acc)	25.90%	40.50%	-8.00%	-3.49%	-37.13%	-33.03%
RIEU.L L&G MSCI Europe Select UCITS ETF EUR (Acc)	5.96%	31.09%	2.70%	18.97%	-17.61%	13.80%

Correlation

The correlation between HTWO.L and RIEU.L is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Feb 10, 2021	0.65

The correlation between HTWO.L and RIEU.L shifts across timeframes, from 0.53 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HTWO.L vs. RIEU.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: 62
HTWO.L Sharpe Ratio Rank: 68
HTWO.L Sortino Ratio Rank: 65
HTWO.L Omega Ratio Rank: 60
HTWO.L Calmar Ratio Rank: 61
HTWO.L Martin Ratio Rank: 54

RIEU.L

RIEU.L Risk / Return Rank: 46
RIEU.L Sharpe Ratio Rank: 48
RIEU.L Sortino Ratio Rank: 48
RIEU.L Omega Ratio Rank: 48
RIEU.L Calmar Ratio Rank: 39
RIEU.L Martin Ratio Rank: 45

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. RIEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.L) and L&G MSCI Europe Select UCITS ETF EUR (Acc) (RIEU.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	RIEU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.65	0.98	+0.66
Sortino ratio: Return per unit of downside risk	2.28	1.46	+0.82
Omega ratio: Gain probability vs. loss probability	1.28	1.18	+0.10
Calmar ratio: Return relative to maximum drawdown	2.30	1.18	+1.12
Martin ratio: Return relative to average drawdown	6.91	3.75	+3.16

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

The current HTWO.L Sharpe Ratio is 1.65, which is higher than the RIEU.L Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of HTWO.L and RIEU.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. RIEU.L - Drawdown Comparison

The maximum HTWO.L drawdown since its inception was -68.35%, which is greater than RIEU.L's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for HTWO.L and RIEU.L.

Drawdown Indicators

	HTWO.L	RIEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-68.35%	-34.78%	-33.57%
Max Drawdown (1Y) Largest decline over 1 year	-23.23%	-12.12%	-11.11%
Max Drawdown (3Y) Largest decline over 3 years	-32.23%	-14.27%	-17.96%
Max Drawdown (5Y) Largest decline over 5 years	-59.35%	-33.99%	-25.36%
Current Drawdown Current decline from peak	-33.88%	-2.61%	-31.27%
Average Drawdown Average peak-to-trough decline	-48.83%	-7.05%	-41.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.74%	3.82%	+3.92%

Volatility

HTWO.L vs. RIEU.L - Volatility Comparison

L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.L) has a higher volatility of 10.56% compared to L&G MSCI Europe Select UCITS ETF EUR (Acc) (RIEU.L) at 3.51%. This indicates that HTWO.L's price experiences larger fluctuations and is considered to be riskier than RIEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HTWO.L	RIEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.56%	3.51%	+7.05%
Volatility (6M) Calculated over the trailing 6-month period	23.62%	12.20%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	32.48%	14.55%	+17.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.27%	17.64%	+11.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.37%	19.02%	+10.35%

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

HTWO.L has a 0.49% expense ratio, which is higher than RIEU.L's 0.10% expense ratio.

Dividends

HTWO.L vs. RIEU.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

HTWO.L and RIEU.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, RIEU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

RIEU.L is cheaper with a 0.10% expense ratio, compared with 0.49% for HTWO.L.

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

HTWO.L is categorized as Alternative Energy Equities, while RIEU.L is Europe Equities. HTWO.L tracks Solactive Hydrogen Economy Index NTR, while RIEU.L tracks MSCI Global Select 500 Index – Europe Subset. Their fees differ too: 0.49% for HTWO.L and 0.10% for RIEU.L.