HYDR vs. CTEX

Last updated Jun 5, 2026

HYDR (Global X Hydrogen ETF) and CTEX (ProShares S&P Kensho Cleantech ETF) are both Alternative Energy Equities funds - HYDR tracks the Solactive Global Hydrogen Index - Benchmark TR Net while CTEX tracks the S&P Kensho Cleantech Index. Both are passively managed. Over the past 3 years, HYDR returned 14.46%/yr vs 16.57%/yr for CTEX. A 0.79 correlation means they provide meaningful diversification when combined. HYDR charges 0.50%/yr vs 0.58%/yr for CTEX.

Performance

HYDR vs. CTEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Hydrogen ETF (HYDR) and ProShares S&P Kensho Cleantech ETF (CTEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYDR achieves a 101.95% return, which is significantly higher than CTEX's 39.08% return.

HYDR

• 1D: -3.90%
• 1M: 2.47%
• YTD: 101.95%
• 6M: 76.41%
• 1Y: 232.59%
• 3Y*: 14.46%
• 5Y*: —
• 10Y*: —

CTEX

• 1D: -0.64%
• 1M: 17.61%
• YTD: 39.08%
• 6M: 35.87%
• 1Y: 153.28%
• 3Y*: 16.57%
• 5Y*: —
• 10Y*: —

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

HYDR vs. CTEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYDR Global X Hydrogen ETF	101.95%	43.73%	-33.08%	-36.49%	-47.24%	-5.94%
CTEX ProShares S&P Kensho Cleantech ETF	39.08%	67.74%	-20.38%	-10.25%	-20.38%	-6.68%

Correlation

The correlation between HYDR and CTEX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.79

The correlation between HYDR and CTEX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

HYDR vs. CTEX - Sectors Allocation Comparison

Sectors	HYDR	CTEX
Industrials	84.7%	48.9%
Basic Materials	2.4%	-
Consumer Cyclical	2.3%	1.8%
Technology	0.5%	34.7%
Energy	0.4%	3.0%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	11.5%

Return for Risk

HYDR vs. CTEX — Risk / Return Rank

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

HYDR

HYDR Risk / Return Rank: 91
HYDR Sharpe Ratio Rank: 96
HYDR Sortino Ratio Rank: 92
HYDR Omega Ratio Rank: 85
HYDR Calmar Ratio Rank: 95
HYDR Martin Ratio Rank: 87

CTEX

CTEX Risk / Return Rank: 89
CTEX Sharpe Ratio Rank: 94
CTEX Sortino Ratio Rank: 85
CTEX Omega Ratio Rank: 82
CTEX Calmar Ratio Rank: 94
CTEX Martin Ratio Rank: 89

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.

HYDR vs. CTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HYDR) and ProShares S&P Kensho Cleantech ETF (CTEX). 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.

	HYDR	CTEX	Difference
Sharpe ratio: Return per unit of total volatility	4.32	3.66	+0.67
Sortino ratio: Return per unit of downside risk	4.37	3.78	+0.59
Omega ratio: Gain probability vs. loss probability	1.52	1.48	+0.04
Calmar ratio: Return relative to maximum drawdown	7.87	7.13	+0.73
Martin ratio: Return relative to average drawdown	18.50	19.80	-1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYDR vs. CTEX - Sharpe Ratio Comparison

The current HYDR Sharpe Ratio is 4.32, which is comparable to the CTEX Sharpe Ratio of 3.66. The chart below compares the historical Sharpe Ratios of HYDR and CTEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYDR	CTEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.32	3.66	+0.67
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.11	-0.35

Drawdowns

HYDR vs. CTEX - Drawdown Comparison

The maximum HYDR drawdown since its inception was -89.28%, which is greater than CTEX's maximum drawdown of -70.31%. Use the drawdown chart below to compare losses from any high point for HYDR and CTEX.

Drawdown Indicators

	HYDR	CTEX	Difference
Max Drawdown Largest peak-to-trough decline	-89.28%	-70.31%	-18.97%
Max Drawdown (1Y) Largest decline over 1 year	-29.76%	-21.62%	-8.14%
Max Drawdown (3Y) Largest decline over 3 years	-70.32%	-56.83%	-13.49%
Current Drawdown Current decline from peak	-53.63%	-4.69%	-48.94%
Average Drawdown Average peak-to-trough decline	-64.20%	-41.90%	-22.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.64%	7.77%	+4.87%

Volatility

HYDR vs. CTEX - Volatility Comparison

Global X Hydrogen ETF (HYDR) has a higher volatility of 18.28% compared to ProShares S&P Kensho Cleantech ETF (CTEX) at 15.38%. This indicates that HYDR's price experiences larger fluctuations and is considered to be riskier than CTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYDR	CTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.28%	15.38%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	35.72%	29.90%	+5.82%
Volatility (1Y) Calculated over the trailing 1-year period	54.22%	42.16%	+12.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.24%	43.28%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.24%	43.28%	+3.96%

HYDR vs. CTEX - Expense Ratio Comparison

HYDR has a 0.50% expense ratio, which is lower than CTEX's 0.58% expense ratio.

Dividends

HYDR vs. CTEX - Dividend Comparison

HYDR's dividend yield for the trailing twelve months is around 1.89%, more than CTEX's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021
CTEX ProShares S&P Kensho Cleantech ETF	1.50%	2.17%	0.57%	0.12%	0.00%	0.00%
HYDR Global X Hydrogen ETF	1.89%	3.82%	0.40%	0.00%	0.00%	0.06%

Frequently Asked Questions

Can I hold both HYDR and CTEX in my portfolio?

HYDR and CTEX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYDR or CTEX?

HYDR has higher volatility (18.28%) compared to CTEX (15.38%). In terms of maximum drawdown, HYDR dropped -89.28% vs CTEX's -70.31%.

Which ETF is better, HYDR or CTEX?

On 3-year performance, CTEX leads with 16.57% vs 14.46% for HYDR. On fees, HYDR is cheaper at 0.50% per year. On volatility, CTEX has been the lower-risk option at 15.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYDR or CTEX?

Over the 3-year period, CTEX has performed better with a 16.57% return vs 14.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYDR or CTEX?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.58% for CTEX.

Which ETF pays a higher dividend yield, HYDR or CTEX?

HYDR has the higher dividend yield at 1.89%, compared with 1.50% for CTEX.

What is the main difference between HYDR and CTEX?

HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net, while CTEX tracks S&P Kensho Cleantech Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.50% for HYDR and 0.58% for CTEX.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (4.32 vs 3.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.