HYDR vs. TAN

Last updated Jun 5, 2026

HYDR (Global X Hydrogen ETF) and TAN (Invesco Solar ETF) are both Alternative Energy Equities funds - HYDR tracks the Solactive Global Hydrogen Index - Benchmark TR Net while TAN tracks the MAC Global Solar Energy Index. Both are passively managed. Over the past 3 years, HYDR returned 14.46%/yr vs -0.45%/yr for TAN. A 0.68 correlation means they provide meaningful diversification when combined. HYDR charges 0.50%/yr vs 0.69%/yr for TAN.

Performance

HYDR vs. TAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Hydrogen ETF (HYDR) and Invesco Solar ETF (TAN). 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 TAN's 43.40% return.

HYDR

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

TAN

• 1D: 0.21%
• 1M: 16.03%
• YTD: 43.40%
• 6M: 46.63%
• 1Y: 112.68%
• 3Y*: -0.45%
• 5Y*: -1.61%
• 10Y*: 13.36%

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

HYDR vs. TAN - 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%	-13.89%
TAN Invesco Solar ETF	43.40%	48.31%	-37.61%	-26.79%	-5.24%	-8.22%

Correlation

The correlation between HYDR and TAN 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	0.63
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021	0.68

The correlation between HYDR and TAN shifts across timeframes, from 0.53 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

HYDR vs. TAN - Sectors Allocation Comparison

Sectors	HYDR	TAN
Industrials	84.7%	3.3%
Basic Materials	2.4%	-
Consumer Cyclical	2.3%	-
Technology	0.5%	9.7%
Energy	0.4%	57.3%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	3.6%
Healthcare	-	-
Real Estate	-	-
Utilities	-	22.1%

Return for Risk

HYDR vs. TAN — 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

TAN

TAN Risk / Return Rank: 86
TAN Sharpe Ratio Rank: 90
TAN Sortino Ratio Rank: 82
TAN Omega Ratio Rank: 75
TAN Calmar Ratio Rank: 95
TAN 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. TAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HYDR) and Invesco Solar ETF (TAN). 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	TAN	Difference
Sharpe ratio: Return per unit of total volatility	4.32	3.05	+1.27
Sortino ratio: Return per unit of downside risk	4.37	3.62	+0.75
Omega ratio: Gain probability vs. loss probability	1.52	1.44	+0.08
Calmar ratio: Return relative to maximum drawdown	7.87	8.32	-0.45
Martin ratio: Return relative to average drawdown	18.50	20.11	-1.61
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. TAN - Sharpe Ratio Comparison

The current HYDR Sharpe Ratio is 4.32, which is higher than the TAN Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of HYDR and TAN, 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	TAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.32	3.05	+1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	-0.12	-0.12

Drawdowns

HYDR vs. TAN - Drawdown Comparison

The maximum HYDR drawdown since its inception was -89.28%, smaller than the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for HYDR and TAN.

Drawdown Indicators

	HYDR	TAN	Difference
Max Drawdown Largest peak-to-trough decline	-89.28%	-95.29%	+6.01%
Max Drawdown (1Y) Largest decline over 1 year	-29.76%	-13.62%	-16.14%
Max Drawdown (3Y) Largest decline over 3 years	-70.32%	-64.40%	-5.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-73.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-78.53%	—
Current Drawdown Current decline from peak	-53.63%	-67.65%	+14.02%
Average Drawdown Average peak-to-trough decline	-64.20%	-78.51%	+14.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.64%	5.62%	+7.02%

Volatility

HYDR vs. TAN - Volatility Comparison

Global X Hydrogen ETF (HYDR) has a higher volatility of 18.28% compared to Invesco Solar ETF (TAN) at 11.73%. This indicates that HYDR's price experiences larger fluctuations and is considered to be riskier than TAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYDR	TAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.28%	11.73%	+6.55%
Volatility (6M) Calculated over the trailing 6-month period	35.72%	25.32%	+10.40%
Volatility (1Y) Calculated over the trailing 1-year period	54.22%	37.11%	+17.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.24%	39.73%	+7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.24%	37.97%	+9.27%

HYDR vs. TAN - Expense Ratio Comparison

HYDR has a 0.50% expense ratio, which is lower than TAN's 0.69% expense ratio.

Dividends

HYDR vs. TAN - Dividend Comparison

HYDR's dividend yield for the trailing twelve months is around 1.89%, while TAN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYDR Global X Hydrogen ETF	1.89%	3.82%	0.40%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Can I hold both HYDR and TAN in my portfolio?

HYDR and TAN 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 is riskier, HYDR or TAN?

HYDR has higher volatility (18.28%) compared to TAN (11.73%). In terms of maximum drawdown, HYDR dropped -89.28% vs TAN's -95.29%.

Which ETF is better, HYDR or TAN?

On 3-year performance, HYDR leads with 14.46% vs -0.45% for TAN. On fees, HYDR is cheaper at 0.50% per year. On volatility, TAN has been the lower-risk option at 11.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYDR or TAN?

Over the 3-year period, HYDR has performed better with a 14.46% return vs -0.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYDR or TAN?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.69% for TAN.

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

HYDR has the higher dividend yield at 1.89%, compared with 0.00% for TAN.

What is the main difference between HYDR and TAN?

HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net, while TAN tracks MAC Global Solar Energy Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for HYDR and 0.69% for TAN.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (4.32 vs 3.05), 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.