HYGN.L vs. CUSS.L
HYGN.L (Global X Hydrogen UCITS ETF USD (Acc)) and CUSS.L (iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc)) are both exchange-traded funds - HYGN.L is a Alternative Energy Equities fund tracking the Solactive Global Hydrogen v2 Index, while CUSS.L is a Small Cap Blend Equities fund tracking the MSCI USA Small Cap ESG Enhanced CTB Index. Both are passively managed. Over the past 3 years, HYGN.L returned -3.55%/yr vs 13.53%/yr for CUSS.L. A 0.64 correlation means they provide meaningful diversification when combined. HYGN.L charges 0.50%/yr vs 0.43%/yr for CUSS.L.
Performance
HYGN.L vs. CUSS.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYGN.L achieves a 31.14% return, which is significantly higher than CUSS.L's 15.96% return.
HYGN.L
- 1D
- -2.88%
- 1M
- -28.95%
- 6M
- 6.89%
- YTD
- 31.14%
- 1Y
- 75.72%
- 3Y*
- -3.55%
- 5Y*
- —
- 10Y*
- —
CUSS.L
- 1D
- -1.18%
- 1M
- -1.61%
- 6M
- 9.44%
- YTD
- 15.96%
- 1Y
- 27.82%
- 3Y*
- 13.53%
- 5Y*
- 7.41%
- 10Y*
- 10.74%
HYGN.L vs. CUSS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGN.L Global X Hydrogen UCITS ETF USD (Acc) | 31.14% | 54.56% | -33.06% | -34.76% | -26.91% |
CUSS.L iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc) | 15.96% | 10.15% | 9.80% | 17.73% | -8.37% |
Correlation
The correlation between HYGN.L and CUSS.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022 | 0.64 |
The correlation between HYGN.L and CUSS.L has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
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Return for Risk
HYGN.L vs. CUSS.L — Risk / Return Rank
HYGN.L
CUSS.L
HYGN.L vs. CUSS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen UCITS ETF USD (Acc) (HYGN.L) and iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc) (CUSS.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.
| HYGN.L | CUSS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 3.31 | -1.69 |
| Martin ratioReturn relative to average drawdown | 4.54 | 10.98 | -6.44 |
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Drawdowns
HYGN.L vs. CUSS.L - Drawdown Comparison
The maximum HYGN.L drawdown since its inception was -83.04%, which is greater than CUSS.L's maximum drawdown of -42.70%. Use the drawdown chart below to compare losses from any high point for HYGN.L and CUSS.L.
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Drawdown Indicators
| HYGN.L | CUSS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.04% | -42.70% | -40.34% |
Max Drawdown (1Y)Largest decline over 1 year | -46.52% | -8.38% | -38.14% |
Max Drawdown (3Y)Largest decline over 3 years | -69.01% | -27.77% | -41.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.73% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.70% | — |
Current DrawdownCurrent decline from peak | -51.27% | -3.79% | -47.48% |
Average DrawdownAverage peak-to-trough decline | -54.98% | -6.94% | -48.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.63% | 2.53% | +14.10% |
Volatility
HYGN.L vs. CUSS.L - Volatility Comparison
Global X Hydrogen UCITS ETF USD (Acc) (HYGN.L) has a higher volatility of 19.00% compared to iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc) (CUSS.L) at 4.79%. This indicates that HYGN.L's price experiences larger fluctuations and is considered to be riskier than CUSS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGN.L | CUSS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.00% | 4.79% | +14.21% |
Volatility (6M)Calculated over the trailing 6-month period | 41.23% | 12.27% | +28.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.09% | 16.51% | +40.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.78% | 21.15% | +30.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.78% | 20.92% | +30.86% |
HYGN.L vs. CUSS.L - Expense Ratio Comparison
HYGN.L has a 0.50% expense ratio, which is higher than CUSS.L's 0.43% expense ratio.
Dividends
HYGN.L vs. CUSS.L - Dividend Comparison
Neither HYGN.L nor CUSS.L has paid dividends to shareholders.
Frequently Asked Questions
HYGN.L and CUSS.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CUSS.L is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CUSS.L is cheaper with a 0.43% expense ratio, compared with 0.50% for HYGN.L.
HYGN.L is categorized as Alternative Energy Equities, while CUSS.L is Small Cap Blend Equities. HYGN.L tracks Solactive Global Hydrogen v2 Index, while CUSS.L tracks MSCI USA Small Cap ESG Enhanced CTB Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for HYGN.L and 0.43% for CUSS.L.
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