RAYZ.L vs. HYGN.L
RAYZ.L (Global X Solar UCITS ETF USD (Acc)) and HYGN.L (Global X Hydrogen UCITS ETF USD (Acc)) are both Alternative Energy Equities funds from Global X - RAYZ.L tracks the Solactive Solar v2 Index while HYGN.L tracks the Solactive Global Hydrogen v2 Index. Both are passively managed. Over the past 3 years, RAYZ.L returned -13.14%/yr vs -3.55%/yr for HYGN.L. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
RAYZ.L vs. HYGN.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 HYGN.L's 31.14% return.
RAYZ.L
- 1D
- -2.79%
- 1M
- -21.34%
- 6M
- -17.20%
- YTD
- -11.74%
- 1Y
- 19.58%
- 3Y*
- -13.14%
- 5Y*
- —
- 10Y*
- —
HYGN.L
- 1D
- -2.88%
- 1M
- -28.95%
- 6M
- 6.89%
- YTD
- 31.14%
- 1Y
- 75.72%
- 3Y*
- -3.55%
- 5Y*
- —
- 10Y*
- —
RAYZ.L vs. HYGN.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% |
HYGN.L Global X Hydrogen UCITS ETF USD (Acc) | 31.14% | 54.56% | -33.06% | -34.76% | -29.22% |
Correlation
The correlation between RAYZ.L and HYGN.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.58 |
The correlation between RAYZ.L and HYGN.L has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
RAYZ.L vs. HYGN.L — Risk / Return Rank
RAYZ.L
HYGN.L
RAYZ.L vs. HYGN.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 Global X Hydrogen UCITS ETF USD (Acc) (HYGN.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 | HYGN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.23 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 1.62 | -1.01 |
| Martin ratioReturn relative to average drawdown | 2.18 | 4.54 | -2.36 |
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Drawdowns
RAYZ.L vs. HYGN.L - Drawdown Comparison
The maximum RAYZ.L drawdown since its inception was -69.13%, smaller than the maximum HYGN.L drawdown of -83.04%. Use the drawdown chart below to compare losses from any high point for RAYZ.L and HYGN.L.
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Drawdown Indicators
| RAYZ.L | HYGN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.13% | -83.04% | +13.91% |
Max Drawdown (1Y)Largest decline over 1 year | -31.77% | -46.52% | +14.75% |
Max Drawdown (3Y)Largest decline over 3 years | -56.80% | -69.01% | +12.21% |
Current DrawdownCurrent decline from peak | -52.81% | -51.27% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -40.53% | -54.98% | +14.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 16.63% | -7.65% |
Volatility
RAYZ.L vs. HYGN.L - Volatility Comparison
The current volatility for Global X Solar UCITS ETF USD (Acc) (RAYZ.L) is 11.58%, while Global X Hydrogen UCITS ETF USD (Acc) (HYGN.L) has a volatility of 19.00%. This indicates that RAYZ.L experiences smaller price fluctuations and is considered to be less risky than HYGN.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 | HYGN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.58% | 19.00% | -7.42% |
Volatility (6M)Calculated over the trailing 6-month period | 25.75% | 41.23% | -15.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.35% | 57.09% | -22.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.25% | 51.78% | -17.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.25% | 51.78% | -17.53% |
RAYZ.L vs. HYGN.L - Expense Ratio Comparison
Both RAYZ.L and HYGN.L have an expense ratio of 0.50%.
Dividends
RAYZ.L vs. HYGN.L - Dividend Comparison
Neither RAYZ.L nor HYGN.L has paid dividends to shareholders.
Frequently Asked Questions
RAYZ.L and HYGN.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
RAYZ.L and HYGN.L have the same expense ratio: 0.50% per year.
RAYZ.L tracks Solactive Solar v2 Index, while HYGN.L tracks Solactive Global Hydrogen v2 Index.
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