HYDR vs. FRNW

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Hydrogen ETF (HYDR) and Fidelity Clean Energy ETF (FRNW).

HYDR and FRNW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYDR is a passively managed fund by Global X that tracks the performance of the Solactive Global Hydrogen Index - Benchmark TR Net. It was launched on Jul 12, 2021. FRNW is an actively managed fund by Fidelity. It was launched on Oct 5, 2021.

Performance

HYDR vs. FRNW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Hydrogen ETF (HYDR) and Fidelity Clean Energy ETF (FRNW). The values are adjusted to include any dividend payments, if applicable.

HYDR vs. FRNW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYDR Global X Hydrogen ETF	14.75%	43.73%	-33.08%	-36.49%	-47.24%	-3.00%
FRNW Fidelity Clean Energy ETF	14.35%	53.20%	-21.11%	-19.64%	-11.46%	-2.85%

Returns By Period

The year-to-date returns for both stocks are quite close, with HYDR having a 14.75% return and FRNW slightly lower at 14.35%.

HYDR

• 1D: 0.65%
• 1M: -5.99%
• YTD: 14.75%
• 6M: -0.04%
• 1Y: 117.67%
• 3Y*: -11.33%
• 5Y*: —
• 10Y*: —

FRNW

• 1D: 0.43%
• 1M: 0.89%
• YTD: 14.35%
• 6M: 15.90%
• 1Y: 81.48%
• 3Y*: 2.60%
• 5Y*: —
• 10Y*: —

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

HYDR vs. FRNW - Expense Ratio Comparison

HYDR has a 0.50% expense ratio, which is higher than FRNW's 0.39% expense ratio.

HYDR

Global X Hydrogen ETF

FRNW

Fidelity Clean Energy ETF

Return for Risk

HYDR vs. FRNW — Risk / Return Rank

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

HYDR

HYDR Risk / Return Rank: 90
HYDR Sharpe Ratio Rank: 94
HYDR Sortino Ratio Rank: 94
HYDR Omega Ratio Rank: 86
HYDR Calmar Ratio Rank: 95
HYDR Martin Ratio Rank: 83

FRNW

FRNW Risk / Return Rank: 97
FRNW Sharpe Ratio Rank: 97
FRNW Sortino Ratio Rank: 97
FRNW Omega Ratio Rank: 95
FRNW Calmar Ratio Rank: 98
FRNW Martin Ratio Rank: 97

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. FRNW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HYDR) and Fidelity Clean Energy ETF (FRNW). 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	FRNW	Difference
Sharpe ratio Return per unit of total volatility	2.40	3.02	-0.63
Sortino ratio Return per unit of downside risk	2.99	3.64	-0.65
Omega ratio Gain probability vs. loss probability	1.35	1.47	-0.11
Calmar ratio Return relative to maximum drawdown	4.13	7.20	-3.07
Martin ratio Return relative to average drawdown	9.89	21.15	-11.26
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. FRNW - Sharpe Ratio Comparison

The current HYDR Sharpe Ratio is 2.40, which is comparable to the FRNW Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of HYDR and FRNW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYDR	FRNW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	3.02	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	-0.04	-0.43

Correlation

The correlation between HYDR and FRNW is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HYDR vs. FRNW - Dividend Comparison

HYDR's dividend yield for the trailing twelve months is around 3.33%, more than FRNW's 1.10% yield.

	TTM	2025	2024	2023	2022	2021
HYDR Global X Hydrogen ETF	3.33%	3.82%	0.40%	0.00%	0.00%	0.06%
FRNW Fidelity Clean Energy ETF	1.10%	1.25%	1.43%	1.30%	0.69%	0.04%

Drawdowns

HYDR vs. FRNW - Drawdown Comparison

The maximum HYDR drawdown since its inception was -89.28%, which is greater than FRNW's maximum drawdown of -59.37%. Use the drawdown chart below to compare losses from any high point for HYDR and FRNW.

Drawdown Indicators

	HYDR	FRNW	Difference
Max Drawdown Largest peak-to-trough decline	-89.28%	-59.37%	-29.91%
Max Drawdown (1Y) Largest decline over 1 year	-29.76%	-11.58%	-18.18%
Current Drawdown Current decline from peak	-73.65%	-17.42%	-56.23%
Average Drawdown Average peak-to-trough decline	-64.40%	-34.23%	-30.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.42%	3.94%	+8.48%

Volatility

HYDR vs. FRNW - Volatility Comparison

Global X Hydrogen ETF (HYDR) has a higher volatility of 13.62% compared to Fidelity Clean Energy ETF (FRNW) at 7.52%. This indicates that HYDR's price experiences larger fluctuations and is considered to be riskier than FRNW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYDR	FRNW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.62%	7.52%	+6.10%
Volatility (6M) Calculated over the trailing 6-month period	38.08%	19.57%	+18.51%
Volatility (1Y) Calculated over the trailing 1-year period	49.41%	27.10%	+22.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.23%	28.45%	+17.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.23%	28.45%	+17.78%