PBD vs. HYDR

Last updated Jun 24, 2026

PBD (Invesco Global Clean Energy ETF) and HYDR (Global X Hydrogen ETF) are both Alternative Energy Equities funds - PBD tracks the WilderHill New Energy Global Innovation index while HYDR tracks the Solactive Global Hydrogen Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, PBD returned 5.01%/yr vs 8.05%/yr for HYDR. Their correlation of 0.84 suggests significant overlap in exposure. PBD charges 0.75%/yr vs 0.50%/yr for HYDR.

Performance

PBD vs. HYDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Clean Energy ETF (PBD) 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, PBD achieves a 22.17% return, which is significantly lower than HYDR's 68.73% return.

PBD

• 1D: -4.35%
• 1M: -9.60%
• YTD: 22.17%
• 6M: 20.69%
• 1Y: 65.94%
• 3Y*: 5.01%
• 5Y*: -6.39%
• 10Y*: 8.85%

HYDR

• 1D: -5.46%
• 1M: -24.76%
• YTD: 68.73%
• 6M: 61.64%
• 1Y: 158.69%
• 3Y*: 8.05%
• 5Y*: —
• 10Y*: —

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

PBD vs. HYDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PBD Invesco Global Clean Energy ETF	22.17%	43.65%	-26.39%	-10.69%	-29.70%	-10.79%
HYDR Global X Hydrogen ETF	68.73%	43.73%	-33.08%	-36.49%	-47.24%	-15.79%

Correlation

The correlation between PBD and HYDR is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.84

The correlation between PBD and HYDR has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

PBD vs. HYDR - Sectors Allocation Comparison

Sectors	PBD	HYDR
Industrials	44.3%	81.1%
Consumer Cyclical	12.5%	5.7%
Energy	12.3%	1.2%
Utilities	11.7%	-
Technology	7.6%	0.7%
Basic Materials	3.4%	4.5%
Financial Services	0.9%	-
Consumer Defensive	0.9%	-
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

PBD vs. HYDR — Risk / Return Rank

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

PBD

PBD Risk / Return Rank: 83
PBD Sharpe Ratio Rank: 86
PBD Sortino Ratio Rank: 77
PBD Omega Ratio Rank: 77
PBD Calmar Ratio Rank: 89
PBD Martin Ratio Rank: 84

HYDR

HYDR Risk / Return Rank: 80
HYDR Sharpe Ratio Rank: 90
HYDR Sortino Ratio Rank: 80
HYDR Omega Ratio Rank: 71
HYDR Calmar Ratio Rank: 90
HYDR Martin Ratio Rank: 67

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.

PBD vs. HYDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy ETF (PBD) 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.

	PBD	HYDR	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.88	-0.23
Sortino ratio: Return per unit of downside risk	3.20	3.32	-0.12
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	5.19	5.37	-0.18
Martin ratio: Return relative to average drawdown	16.38	11.63	+4.75

PBD vs. HYDR - Sharpe Ratio Comparison

The current PBD Sharpe Ratio is 2.65, which is comparable to the HYDR Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of PBD and HYDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PBD vs. HYDR - Drawdown Comparison

The maximum PBD drawdown since its inception was -78.60%, smaller than the maximum HYDR drawdown of -89.28%. Use the drawdown chart below to compare losses from any high point for PBD and HYDR.

Drawdown Indicators

	PBD	HYDR	Difference
Max Drawdown Largest peak-to-trough decline	-78.60%	-89.28%	+10.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.78%	-29.76%	+16.98%
Max Drawdown (3Y) Largest decline over 3 years	-52.45%	-70.32%	+17.87%
Max Drawdown (5Y) Largest decline over 5 years	-69.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-75.40%	—	—
Current Drawdown Current decline from peak	-46.21%	-61.26%	+15.05%
Average Drawdown Average peak-to-trough decline	-53.36%	-64.13%	+10.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	13.71%	-9.67%

Volatility

PBD vs. HYDR - Volatility Comparison

The current volatility for Invesco Global Clean Energy ETF (PBD) is 10.77%, while Global X Hydrogen ETF (HYDR) has a volatility of 18.57%. This indicates that PBD experiences smaller price fluctuations and is considered to be less risky than HYDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBD	HYDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.77%	18.57%	-7.80%
Volatility (6M) Calculated over the trailing 6-month period	19.50%	38.42%	-18.92%
Volatility (1Y) Calculated over the trailing 1-year period	25.04%	55.43%	-30.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.67%	47.51%	-18.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	47.51%	-20.18%

PBD vs. HYDR - Expense Ratio Comparison

PBD has a 0.75% expense ratio, which is higher than HYDR's 0.50% expense ratio.

Dividends

PBD vs. HYDR - Dividend Comparison

PBD's dividend yield for the trailing twelve months is around 1.56%, less than HYDR's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYDR Global X Hydrogen ETF	2.26%	3.82%	0.40%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBD Invesco Global Clean Energy ETF	1.56%	2.71%	1.81%	2.85%	2.98%	0.67%	0.48%	1.83%	1.86%	1.76%	2.04%	1.24%

Frequently Asked Questions

Can I hold both PBD and HYDR in my portfolio?

PBD and HYDR have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBD or HYDR?

HYDR has higher volatility (18.57%) compared to PBD (10.77%). In terms of maximum drawdown, PBD dropped -78.60% vs HYDR's -89.28%.

Which ETF is better, PBD or HYDR?

On 3-year performance, HYDR leads with 8.05% vs 5.01% for PBD. On fees, HYDR is cheaper at 0.50% per year. On volatility, PBD has been the lower-risk option at 10.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBD or HYDR?

Over the 3-year period, HYDR has performed better with a 8.05% return vs 5.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBD or HYDR?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.75% for PBD.

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

HYDR has the higher dividend yield at 2.26%, compared with 1.56% for PBD.

What is the main difference between PBD and HYDR?

PBD tracks WilderHill New Energy Global Innovation index, while HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.75% for PBD and 0.50% for HYDR.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (2.88 vs 2.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.