HYGN.L vs. SPXS.L
HYGN.L (Global X Hydrogen UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - HYGN.L tracks the Global X Hydrogen UCITS ETF while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 3 years, HYGN.L returned -0.82%/yr vs -74.11%/yr for SPXS.L. A 0.57 correlation means they provide meaningful diversification when combined. HYGN.L charges 0.50%/yr vs 0.05%/yr for SPXS.L.
Performance
HYGN.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYGN.L achieves a 38.93% return, which is significantly higher than SPXS.L's 10.20% return.
HYGN.L
- 1D
- -4.17%
- 1M
- -25.05%
- 6M
- 14.11%
- YTD
- 38.93%
- 1Y
- 87.84%
- 3Y*
- -0.82%
- 5Y*
- —
- 10Y*
- —
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
HYGN.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGN.L Global X Hydrogen UCITS ETF | 38.93% | 54.56% | -33.06% | -34.76% | -26.91% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -13.27% |
Correlation
The correlation between HYGN.L and SPXS.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022 | 0.57 |
The correlation between HYGN.L and SPXS.L has been stable across timeframes, ranging from 0.51 to 0.61 - a consistent structural relationship.
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Return for Risk
HYGN.L vs. SPXS.L — Risk / Return Rank
HYGN.L
SPXS.L
HYGN.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen UCITS ETF (HYGN.L) and Invesco S&P 500 UCITS ETF (SPXS.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 | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.61 | ||
| Sortino ratioReturn per unit of downside risk | +3.06 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.52 | +0.74 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | -1.00 | +3.11 |
| Martin ratioReturn relative to average drawdown | 5.61 | -1.23 | +6.84 |
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Drawdowns
HYGN.L vs. SPXS.L - Drawdown Comparison
The maximum HYGN.L drawdown since its inception was -83.04%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for HYGN.L and SPXS.L.
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Drawdown Indicators
| HYGN.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.04% | -99.07% | +16.03% |
Max Drawdown (1Y)Largest decline over 1 year | -43.35% | -99.07% | +55.72% |
Max Drawdown (3Y)Largest decline over 3 years | -69.01% | -99.07% | +30.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.07% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -48.37% | -98.90% | +50.53% |
Average DrawdownAverage peak-to-trough decline | -54.99% | -7.67% | -47.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.36% | 80.57% | -64.21% |
Volatility
HYGN.L vs. SPXS.L - Volatility Comparison
Global X Hydrogen UCITS ETF (HYGN.L) has a higher volatility of 18.27% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that HYGN.L's price experiences larger fluctuations and is considered to be riskier than SPXS.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 | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.27% | 2.73% | +15.54% |
Volatility (6M)Calculated over the trailing 6-month period | 40.74% | 9.24% | +31.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.78% | 99.43% | -42.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.72% | 47.13% | +4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.72% | 35.27% | +16.45% |
HYGN.L vs. SPXS.L - Expense Ratio Comparison
HYGN.L has a 0.50% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
HYGN.L vs. SPXS.L - Dividend Comparison
Neither HYGN.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
HYGN.L and SPXS.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.50% for HYGN.L.
HYGN.L tracks Global X Hydrogen UCITS ETF, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for HYGN.L and 0.05% for SPXS.L.
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