IESG.L vs. HTWO.L
IESG.L (iShares MSCI Europe SRI UCITS ETF) and HTWO.L (L&G Hydrogen Economy UCITS ETF USD (Acc)) are both exchange-traded funds - IESG.L is a ESG fund tracking the MSCI Europe SRI Select Reduced Fossil Fuel Index, while HTWO.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR. Both are passively managed. Over the past 5 years, IESG.L returned 5.24%/yr vs -0.58%/yr for HTWO.L. A 0.59 correlation means they provide meaningful diversification when combined. IESG.L charges 0.20%/yr vs 0.49%/yr for HTWO.L.
Performance
IESG.L vs. HTWO.L - Performance Comparison
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Different Trading Currencies
IESG.L is traded in GBp, while HTWO.L is traded in USD. To make them comparable, the HTWO.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IESG.L achieves a 7.43% return, which is significantly lower than HTWO.L's 26.08% return.
IESG.L
- 1D
- -0.35%
- 1M
- -1.16%
- 6M
- 4.35%
- YTD
- 7.43%
- 1Y
- 9.06%
- 3Y*
- 7.76%
- 5Y*
- 5.24%
- 10Y*
- 8.44%
HTWO.L
- 1D
- 0.56%
- 1M
- -15.26%
- 6M
- 10.90%
- YTD
- 26.08%
- 1Y
- 53.26%
- 3Y*
- 11.05%
- 5Y*
- -0.58%
- 10Y*
- —
IESG.L vs. HTWO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IESG.L iShares MSCI Europe SRI UCITS ETF | 7.43% | 8.44% | 0.88% | 14.27% | -9.89% | 18.14% |
HTWO.L L&G Hydrogen Economy UCITS ETF USD (Acc) | 26.08% | 30.49% | -6.39% | -8.32% | -29.65% | -31.54% |
Correlation
The correlation between IESG.L and HTWO.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2021 | 0.59 |
The correlation between IESG.L and HTWO.L has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
IESG.L vs. HTWO.L — Risk / Return Rank
IESG.L
HTWO.L
IESG.L vs. HTWO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF (IESG.L) and L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.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.
| IESG.L | HTWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.28 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 2.27 | -1.47 |
| Martin ratioReturn relative to average drawdown | 2.63 | 6.90 | -4.27 |
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Drawdowns
IESG.L vs. HTWO.L - Drawdown Comparison
The maximum IESG.L drawdown since its inception was -33.61%, smaller than the maximum HTWO.L drawdown of -65.84%. Use the drawdown chart below to compare losses from any high point for IESG.L and HTWO.L.
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Drawdown Indicators
| IESG.L | HTWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.61% | -65.84% | +32.23% |
Max Drawdown (1Y)Largest decline over 1 year | -11.32% | -23.39% | +12.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -31.62% | +16.55% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -57.19% | +36.42% |
Max Drawdown (10Y)Largest decline over 10 years | -25.95% | — | — |
Current DrawdownCurrent decline from peak | -2.33% | -32.00% | +29.67% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -45.66% | +38.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 7.69% | -4.25% |
Volatility
IESG.L vs. HTWO.L - Volatility Comparison
The current volatility for iShares MSCI Europe SRI UCITS ETF (IESG.L) is 3.49%, while L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.L) has a volatility of 10.58%. This indicates that IESG.L experiences smaller price fluctuations and is considered to be less risky than HTWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IESG.L | HTWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 10.58% | -7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 23.06% | -12.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 31.86% | -18.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.26% | 27.37% | -11.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 27.61% | -11.83% |
IESG.L vs. HTWO.L - Expense Ratio Comparison
IESG.L has a 0.20% expense ratio, which is lower than HTWO.L's 0.49% expense ratio.
Dividends
IESG.L vs. HTWO.L - Dividend Comparison
Neither IESG.L nor HTWO.L has paid dividends to shareholders.
Frequently Asked Questions
IESG.L and HTWO.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESG.L is cheaper with a 0.20% expense ratio, compared with 0.49% for HTWO.L.
IESG.L is categorized as ESG, while HTWO.L is Alternative Energy Equities. IESG.L tracks MSCI Europe SRI Select Reduced Fossil Fuel Index, while HTWO.L tracks Solactive Hydrogen Economy Index NTR. They also come from different issuers: iShares and L&G. Their fees differ too: 0.20% for IESG.L and 0.49% for HTWO.L.
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