HYDR vs. QCLN

Last updated Jun 19, 2026

HYDR (Global X Hydrogen ETF) and QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) are both Alternative Energy Equities funds - HYDR tracks the Solactive Global Hydrogen Index - Benchmark TR Net while QCLN tracks the NASDAQ Clean Edge Green Energy. Both are passively managed. Over the past 3 years, HYDR returned 6.36%/yr vs 8.47%/yr for QCLN. A 0.79 correlation means they provide meaningful diversification when combined. HYDR charges 0.50%/yr vs 0.60%/yr for QCLN.

Performance

HYDR vs. QCLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Hydrogen ETF (HYDR) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYDR achieves a 78.70% return, which is significantly higher than QCLN's 44.08% return.

HYDR

• 1D: 1.79%
• 1M: -6.35%
• YTD: 78.70%
• 6M: 71.89%
• 1Y: 178.63%
• 3Y*: 6.36%
• 5Y*: —
• 10Y*: —

QCLN

• 1D: 5.26%
• 1M: 7.19%
• YTD: 44.08%
• 6M: 38.90%
• 1Y: 101.80%
• 3Y*: 8.47%
• 5Y*: 0.45%
• 10Y*: 16.81%

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

HYDR vs. QCLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYDR Global X Hydrogen ETF	78.70%	43.73%	-33.08%	-36.49%	-47.24%	-15.79%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	44.08%	31.81%	-18.86%	-10.02%	-30.37%	2.72%

Correlation

The correlation between HYDR and QCLN is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.79

The correlation between HYDR and QCLN has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

HYDR vs. QCLN - Sectors Allocation Comparison

Sectors	HYDR	QCLN
Industrials	78.0%	24.8%
Consumer Cyclical	5.6%	10.2%
Basic Materials	4.3%	7.8%
Energy	1.3%	0.1%
Technology	0.7%	47.6%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	1.4%
Healthcare	-	-
Real Estate	-	-
Utilities	-	8.1%

Return for Risk

HYDR vs. QCLN — Risk / Return Rank

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

HYDR

HYDR Risk / Return Rank: 85
HYDR Sharpe Ratio Rank: 94
HYDR Sortino Ratio Rank: 86
HYDR Omega Ratio Rank: 79
HYDR Calmar Ratio Rank: 93
HYDR Martin Ratio Rank: 75

QCLN

QCLN Risk / Return Rank: 84
QCLN Sharpe Ratio Rank: 89
QCLN Sortino Ratio Rank: 76
QCLN Omega Ratio Rank: 73
QCLN Calmar Ratio Rank: 93
QCLN Martin Ratio Rank: 91

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. QCLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HYDR) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). 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.

	HYDR	QCLN	Difference
Sharpe ratio: Return per unit of total volatility	3.26	2.78	+0.48
Sortino ratio: Return per unit of downside risk	3.59	3.19	+0.40
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	6.04	6.24	-0.20
Martin ratio: Return relative to average drawdown	13.26	20.28	-7.01

HYDR vs. QCLN - Sharpe Ratio Comparison

The current HYDR Sharpe Ratio is 3.26, which is comparable to the QCLN Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of HYDR and QCLN, 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

HYDR vs. QCLN - Drawdown Comparison

The maximum HYDR drawdown since its inception was -89.28%, which is greater than QCLN's maximum drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for HYDR and QCLN.

Drawdown Indicators

	HYDR	QCLN	Difference
Max Drawdown Largest peak-to-trough decline	-89.28%	-76.18%	-13.10%
Max Drawdown (1Y) Largest decline over 1 year	-29.76%	-16.40%	-13.36%
Max Drawdown (3Y) Largest decline over 3 years	-70.32%	-56.08%	-14.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-69.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-71.73%	—
Current Drawdown Current decline from peak	-58.97%	-25.56%	-33.41%
Average Drawdown Average peak-to-trough decline	-64.13%	-43.40%	-20.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.53%	5.04%	+8.49%

Volatility

HYDR vs. QCLN - Volatility Comparison

Global X Hydrogen ETF (HYDR) has a higher volatility of 20.44% compared to First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) at 17.23%. This indicates that HYDR's price experiences larger fluctuations and is considered to be riskier than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYDR	QCLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.44%	17.23%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	38.33%	29.51%	+8.82%
Volatility (1Y) Calculated over the trailing 1-year period	55.14%	36.88%	+18.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.49%	38.43%	+9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.49%	35.17%	+12.32%

HYDR vs. QCLN - Expense Ratio Comparison

HYDR has a 0.50% expense ratio, which is lower than QCLN's 0.60% expense ratio.

Dividends

HYDR vs. QCLN - Dividend Comparison

HYDR's dividend yield for the trailing twelve months is around 2.14%, more than QCLN's 0.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYDR Global X Hydrogen ETF	2.14%	3.82%	0.40%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.16%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both HYDR and QCLN in my portfolio?

HYDR and QCLN have a correlation of 0.77, 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 QCLN?

HYDR has higher volatility (20.44%) compared to QCLN (17.23%). In terms of maximum drawdown, HYDR dropped -89.28% vs QCLN's -76.18%.

Which ETF is better, HYDR or QCLN?

On 3-year performance, QCLN leads with 8.47% vs 6.36% for HYDR. On fees, HYDR is cheaper at 0.50% per year. On volatility, QCLN has been the lower-risk option at 17.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYDR or QCLN?

Over the 3-year period, QCLN has performed better with a 8.47% return vs 6.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYDR or QCLN?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.60% for QCLN.

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

HYDR has the higher dividend yield at 2.14%, compared with 0.16% for QCLN.

What is the main difference between HYDR and QCLN?

HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net, while QCLN tracks NASDAQ Clean Edge Green Energy. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.50% for HYDR and 0.60% for QCLN.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (3.26 vs 2.78), 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.