QCLN vs. HJEN

Last updated Jul 15, 2026

QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - QCLN tracks the Nasdaq Clean Edge Green Energy Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. QCLN charges 0.59%/yr vs 0.45%/yr for HJEN.

Performance

QCLN vs. HJEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) and Direxion Hydrogen ETF (HJEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QCLN

• 1D: 2.48%
• 1M: -10.72%
• 6M: 10.90%
• YTD: 23.13%
• 1Y: 58.46%
• 3Y*: 0.71%
• 5Y*: -2.30%
• 10Y*: 14.65%

HJEN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCLN vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	23.13%	31.81%	-18.86%	-10.02%	-30.37%	6.71%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-11.04%

Correlation

The correlation between QCLN and HJEN 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 (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.61

The correlation between QCLN and HJEN shifts across timeframes, from 0.37 (3 years) to 0.61 (all time), reflecting how their relationship changes across market environments.

QCLN vs. HJEN - Sectors Allocation Comparison

Sectors	QCLN	HJEN
Technology	47.6%	16.5%
Industrials	24.8%	22.7%
Consumer Cyclical	10.2%	-
Utilities	8.1%	-
Basic Materials	7.8%	9.2%
Financial Services	1.4%	3.3%
Energy	0.1%	8.3%
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

QCLN vs. HJEN — Risk / Return Rank

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

QCLN

QCLN Risk / Return Rank: 57
QCLN Sharpe Ratio Rank: 55
QCLN Sortino Ratio Rank: 49
QCLN Omega Ratio Rank: 48
QCLN Calmar Ratio Rank: 67
QCLN Martin Ratio Rank: 65

HJEN

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

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.

QCLN vs. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) and Direxion Hydrogen ETF (HJEN). 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.

	QCLN	HJEN	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	1.99	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.70	—	—
Martin ratio: Return relative to average drawdown	9.17	—	—

Drawdowns

Drawdown Indicators

	QCLN	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-76.18%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-21.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-56.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-69.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.73%	—	—
Current Drawdown Current decline from peak	-36.39%	—	—
Average Drawdown Average peak-to-trough decline	-43.37%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	6.39%	—	—

Volatility

Volatility by Period

	QCLN	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	32.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	39.26%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.83%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.39%	—	—

QCLN vs. HJEN - Expense Ratio Comparison

QCLN has a 0.59% expense ratio, which is higher than HJEN's 0.45% expense ratio.

Dividends

QCLN vs. HJEN - Dividend Comparison

QCLN's dividend yield for the trailing twelve months is around 0.15%, while HJEN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.15%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both QCLN and HJEN in my portfolio?

QCLN and HJEN 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.

Which ETF is better, QCLN or HJEN?

On fees, HJEN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QCLN or HJEN?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.59% for QCLN.

Which ETF pays a higher dividend yield, QCLN or HJEN?

QCLN has the higher dividend yield at 0.15%, compared with 0.00% for HJEN.

What is the main difference between QCLN and HJEN?

QCLN tracks Nasdaq Clean Edge Green Energy Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.59% for QCLN and 0.45% for HJEN.