SMOG vs. HJEN

Last updated Jun 4, 2026

SMOG (VanEck Low Carbon Energy ETF) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - SMOG tracks the MVIS Global Low Carbon Energy Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. A 0.64 correlation means they provide meaningful diversification when combined. SMOG charges 0.61%/yr vs 0.45%/yr for HJEN.

Performance

SMOG vs. HJEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Low Carbon Energy ETF (SMOG) and Direxion Hydrogen ETF (HJEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMOG

• 1D: -1.20%
• 1M: 0.08%
• YTD: 18.16%
• 6M: 17.43%
• 1Y: 42.14%
• 3Y*: 10.86%
• 5Y*: 1.76%
• 10Y*: 12.70%

HJEN

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

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

SMOG vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SMOG VanEck Low Carbon Energy ETF	18.16%	33.36%	-9.33%	1.42%	-29.92%	7.88%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-13.86%

Correlation

The correlation between SMOG and HJEN is 0.64, 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	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.64

The correlation between SMOG and HJEN shifts across timeframes, from 0.42 (3 years) to 0.64 (all time), reflecting how their relationship changes across market environments.

SMOG vs. HJEN - Sectors Allocation Comparison

Sectors	SMOG	HJEN
Utilities	33.2%	-
Industrials	28.1%	31.7%
Consumer Cyclical	21.7%	-
Technology	8.4%	7.6%
Energy	6.6%	8.3%
Basic Materials	1.2%	9.2%
Financial Services	0.6%	3.3%
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

SMOG vs. HJEN — Risk / Return Rank

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

SMOG

SMOG Risk / Return Rank: 66
SMOG Sharpe Ratio Rank: 62
SMOG Sortino Ratio Rank: 56
SMOG Omega Ratio Rank: 56
SMOG Calmar Ratio Rank: 86
SMOG Martin Ratio Rank: 73

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.

SMOG vs. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Low Carbon Energy ETF (SMOG) 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.

	SMOG	HJEN	Difference
Sharpe ratio Return per unit of total volatility	2.07	—	—
Sortino ratio Return per unit of downside risk	2.69	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	4.80	—	—
Martin ratio Return relative to average drawdown	13.62	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMOG	HJEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	—	—

Drawdowns

Drawdown Indicators

	SMOG	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-84.39%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.10%	—	—
Current Drawdown Current decline from peak	-14.61%	—	—
Average Drawdown Average peak-to-trough decline	-52.47%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	—	—

Volatility

Volatility by Period

	SMOG	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.49%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.73%	—	—

SMOG vs. HJEN - Expense Ratio Comparison

SMOG has a 0.61% expense ratio, which is higher than HJEN's 0.45% expense ratio.

Dividends

SMOG vs. HJEN - Dividend Comparison

SMOG's dividend yield for the trailing twelve months is around 1.33%, 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%
SMOG VanEck Low Carbon Energy ETF	1.33%	1.57%	1.64%	1.58%	1.32%	0.44%	0.06%	0.00%	0.62%	1.25%	2.12%	0.56%

Frequently Asked Questions

Can I hold both SMOG and HJEN in my portfolio?

SMOG and HJEN have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMOG 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, SMOG or HJEN?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.61% for SMOG.

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

SMOG has the higher dividend yield at 1.33%, compared with 0.00% for HJEN.

What is the main difference between SMOG and HJEN?

SMOG tracks MVIS Global Low Carbon Energy Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.61% for SMOG and 0.45% for HJEN.