MKTN vs. HYDR

Last updated Jul 15, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and HYDR (Global X Hydrogen ETF) are both exchange-traded funds - MKTN is a Long-Short fund actively managed by Federated Hermes, while HYDR is a Alternative Energy Equities fund tracking the Solactive Global Hydrogen Index - Benchmark TR Net. MKTN is actively managed, while HYDR is passively managed. At a correlation of -0.20, they often move in opposite directions.

Performance

MKTN vs. HYDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and Global X Hydrogen ETF (HYDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKTN achieves a 3.02% return, which is significantly lower than HYDR's 44.58% return.

MKTN

• 1D: -0.15%
• 1M: 2.68%
• 6M: 4.51%
• YTD: 3.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYDR

• 1D: 2.78%
• 1M: -16.13%
• 6M: 23.04%
• YTD: 44.58%
• 1Y: 99.80%
• 3Y*: -0.72%
• 5Y*: -16.46%
• 10Y*: —

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

MKTN vs. HYDR - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	3.02%	3.22%
HYDR Global X Hydrogen ETF	44.58%	-2.27%

Correlation

The correlation between MKTN and HYDR is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	-0.20

Return for Risk

MKTN vs. HYDR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MKTN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HYDR

HYDR Risk / Return Rank: 61
HYDR Sharpe Ratio Rank: 70
HYDR Sortino Ratio Rank: 67
HYDR Omega Ratio Rank: 58
HYDR Calmar Ratio Rank: 64
HYDR Martin Ratio Rank: 48

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.

MKTN vs. HYDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and Global X Hydrogen ETF (HYDR). 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.

	MKTN	HYDR	Difference
Sharpe ratio: Return per unit of total volatility	—	1.78	—
Sortino ratio: Return per unit of downside risk	—	2.44	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.57	—
Martin ratio: Return relative to average drawdown	—	6.36	—

Drawdowns

MKTN vs. HYDR - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum HYDR drawdown of -89.28%. Use the drawdown chart below to compare losses from any high point for MKTN and HYDR.

Drawdown Indicators

	MKTN	HYDR	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-89.28%	+85.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-70.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.28%	—
Current Drawdown Current decline from peak	-0.15%	-66.80%	+66.65%
Average Drawdown Average peak-to-trough decline	-1.14%	-64.13%	+62.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.74%	—

Volatility

Volatility by Period

	MKTN	HYDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	40.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	56.45%	-49.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.61%	47.70%	-41.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	47.69%	-41.08%

Dividends

MKTN vs. HYDR - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, less than HYDR's 2.89% yield.

Position	TTM	2025	2024	2023	2022	2021
HYDR Global X Hydrogen ETF	2.89%	3.82%	0.40%	0.00%	0.00%	0.06%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKTN and HYDR in my portfolio?

MKTN and HYDR have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

HYDR has the higher dividend yield at 2.89%, compared with 0.50% for MKTN.

What is the main difference between MKTN and HYDR?

MKTN is categorized as Long-Short, while HYDR is Alternative Energy Equities. They also come from different issuers: Federated Hermes and Global X.