HYGN.L vs. HDRO.L
HYGN.L (Global X Hydrogen UCITS ETF USD (Acc)) and HDRO.L (VanEck Hydrogen Economy UCITS ETF) are both Alternative Energy Equities funds - HYGN.L tracks the Solactive Global Hydrogen v2 Index while HDRO.L tracks the MVIS Global Hydrogen Economy ESG Index. Both are passively managed. Over the past 3 years, HYGN.L returned -3.55%/yr vs -7.49%/yr for HDRO.L. Their correlation of 0.91 suggests significant overlap in exposure. HYGN.L charges 0.50%/yr vs 0.55%/yr for HDRO.L.
Performance
HYGN.L vs. HDRO.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 lower than HDRO.L's 33.03% return.
HYGN.L
- 1D
- -2.88%
- 1M
- -28.95%
- 6M
- 6.89%
- YTD
- 31.14%
- 1Y
- 75.72%
- 3Y*
- -3.55%
- 5Y*
- —
- 10Y*
- —
HDRO.L
- 1D
- -1.68%
- 1M
- -13.41%
- 6M
- 15.22%
- YTD
- 33.03%
- 1Y
- 55.12%
- 3Y*
- -7.49%
- 5Y*
- -13.38%
- 10Y*
- —
HYGN.L vs. HDRO.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% |
HDRO.L VanEck Hydrogen Economy UCITS ETF | 33.03% | 17.65% | -29.87% | -23.69% | -23.02% |
Correlation
The correlation between HYGN.L and HDRO.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022 | 0.91 |
The correlation between HYGN.L and HDRO.L has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
HYGN.L vs. HDRO.L — Risk / Return Rank
HYGN.L
HDRO.L
HYGN.L vs. HDRO.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 VanEck Hydrogen Economy UCITS ETF (HDRO.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 | HDRO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.81 | -0.19 |
| Martin ratioReturn relative to average drawdown | 4.54 | 4.13 | +0.41 |
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Drawdowns
HYGN.L vs. HDRO.L - Drawdown Comparison
The maximum HYGN.L drawdown since its inception was -83.04%, roughly equal to the maximum HDRO.L drawdown of -81.32%. Use the drawdown chart below to compare losses from any high point for HYGN.L and HDRO.L.
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Drawdown Indicators
| HYGN.L | HDRO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.04% | -81.32% | -1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -46.52% | -30.37% | -16.15% |
Max Drawdown (3Y)Largest decline over 3 years | -69.01% | -63.41% | -5.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.02% | — |
Current DrawdownCurrent decline from peak | -51.27% | -60.19% | +8.92% |
Average DrawdownAverage peak-to-trough decline | -54.98% | -53.87% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.63% | 13.32% | +3.31% |
Volatility
HYGN.L vs. HDRO.L - Volatility Comparison
Global X Hydrogen UCITS ETF USD (Acc) (HYGN.L) has a higher volatility of 19.00% compared to VanEck Hydrogen Economy UCITS ETF (HDRO.L) at 9.95%. This indicates that HYGN.L's price experiences larger fluctuations and is considered to be riskier than HDRO.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 | HDRO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.00% | 9.95% | +9.05% |
Volatility (6M)Calculated over the trailing 6-month period | 41.23% | 27.77% | +13.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.09% | 39.57% | +17.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.78% | 38.68% | +13.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.78% | 38.54% | +13.24% |
HYGN.L vs. HDRO.L - Expense Ratio Comparison
HYGN.L has a 0.50% expense ratio, which is lower than HDRO.L's 0.55% expense ratio.
Dividends
HYGN.L vs. HDRO.L - Dividend Comparison
Neither HYGN.L nor HDRO.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, HYGN.L and HDRO.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HYGN.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGN.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HDRO.L.
HYGN.L tracks Solactive Global Hydrogen v2 Index, while HDRO.L tracks MVIS Global Hydrogen Economy ESG Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.50% for HYGN.L and 0.55% for HDRO.L.
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