RAYZ.L vs. HTWO.L
RAYZ.L (Global X Solar UCITS ETF USD (Acc)) and HTWO.L (L&G Hydrogen Economy UCITS ETF USD (Acc)) are both Alternative Energy Equities funds - RAYZ.L tracks the Solactive Solar v2 Index while HTWO.L tracks the Solactive Hydrogen Economy Index NTR. Both are passively managed. Over the past 3 years, RAYZ.L returned -13.14%/yr vs 12.22%/yr for HTWO.L. A 0.57 correlation means they provide meaningful diversification when combined. RAYZ.L charges 0.50%/yr vs 0.49%/yr for HTWO.L.
Performance
RAYZ.L vs. HTWO.L - Performance Comparison
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Returns By Period
In the year-to-date period, RAYZ.L achieves a -11.74% return, which is significantly lower than HTWO.L's 25.90% return.
RAYZ.L
- 1D
- -2.79%
- 1M
- -21.34%
- 6M
- -17.20%
- YTD
- -11.74%
- 1Y
- 19.58%
- 3Y*
- -13.14%
- 5Y*
- —
- 10Y*
- —
HTWO.L
- 1D
- 0.39%
- 1M
- -14.21%
- 6M
- 11.54%
- YTD
- 25.90%
- 1Y
- 53.68%
- 3Y*
- 12.22%
- 5Y*
- -1.03%
- 10Y*
- —
RAYZ.L vs. HTWO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RAYZ.L Global X Solar UCITS ETF USD (Acc) | -11.74% | 39.95% | -28.16% | -32.65% | 4.13% |
HTWO.L L&G Hydrogen Economy UCITS ETF USD (Acc) | 25.90% | 40.50% | -8.00% | -3.49% | -25.22% |
Correlation
The correlation between RAYZ.L and HTWO.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.57 |
The correlation between RAYZ.L and HTWO.L has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.
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Return for Risk
RAYZ.L vs. HTWO.L — Risk / Return Rank
RAYZ.L
HTWO.L
RAYZ.L vs. HTWO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Solar UCITS ETF USD (Acc) (RAYZ.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.
| RAYZ.L | HTWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.28 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 2.30 | -1.69 |
| Martin ratioReturn relative to average drawdown | 2.18 | 6.91 | -4.74 |
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Drawdowns
RAYZ.L vs. HTWO.L - Drawdown Comparison
The maximum RAYZ.L drawdown since its inception was -69.13%, roughly equal to the maximum HTWO.L drawdown of -68.35%. Use the drawdown chart below to compare losses from any high point for RAYZ.L and HTWO.L.
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Drawdown Indicators
| RAYZ.L | HTWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.13% | -68.35% | -0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -31.77% | -23.23% | -8.54% |
Max Drawdown (3Y)Largest decline over 3 years | -56.80% | -32.23% | -24.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -52.81% | -33.88% | -18.93% |
Average DrawdownAverage peak-to-trough decline | -40.53% | -48.83% | +8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 7.74% | +1.24% |
Volatility
RAYZ.L vs. HTWO.L - Volatility Comparison
Global X Solar UCITS ETF USD (Acc) (RAYZ.L) has a higher volatility of 11.58% compared to L&G Hydrogen Economy UCITS ETF USD (Acc) (HTWO.L) at 10.56%. This indicates that RAYZ.L's price experiences larger fluctuations and is considered to be riskier 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
| RAYZ.L | HTWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.58% | 10.56% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 25.75% | 23.62% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.35% | 32.48% | +1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.25% | 29.27% | +4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.25% | 29.37% | +4.88% |
RAYZ.L vs. HTWO.L - Expense Ratio Comparison
RAYZ.L has a 0.50% expense ratio, which is higher than HTWO.L's 0.49% expense ratio.
Dividends
RAYZ.L vs. HTWO.L - Dividend Comparison
Neither RAYZ.L nor HTWO.L has paid dividends to shareholders.
Frequently Asked Questions
RAYZ.L and HTWO.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HTWO.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HTWO.L is cheaper with a 0.49% expense ratio, compared with 0.50% for RAYZ.L.
RAYZ.L tracks Solactive Solar v2 Index, while HTWO.L tracks Solactive Hydrogen Economy Index NTR. They also come from different issuers: Global X and L&G. Their fees differ too: 0.50% for RAYZ.L and 0.49% for HTWO.L.
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