TAN vs. HYDR

Last updated Jun 3, 2026

TAN (Invesco Solar ETF) and HYDR (Global X Hydrogen ETF) are both Alternative Energy Equities funds - TAN tracks the MAC Global Solar Energy Index while HYDR tracks the Solactive Global Hydrogen Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, TAN returned 0.29%/yr vs 17.44%/yr for HYDR. A 0.68 correlation means they provide meaningful diversification when combined. TAN charges 0.69%/yr vs 0.50%/yr for HYDR.

Performance

TAN vs. HYDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Solar ETF (TAN) 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, TAN achieves a 47.13% return, which is significantly lower than HYDR's 120.59% return.

TAN

• 1D: 1.60%
• 1M: 21.93%
• YTD: 47.13%
• 6M: 51.73%
• 1Y: 127.12%
• 3Y*: 0.29%
• 5Y*: -0.77%
• 10Y*: 13.81%

HYDR

• 1D: 1.85%
• 1M: 18.81%
• YTD: 120.59%
• 6M: 98.52%
• 1Y: 295.97%
• 3Y*: 17.44%
• 5Y*: —
• 10Y*: —

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

TAN vs. HYDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TAN Invesco Solar ETF	47.13%	48.31%	-37.61%	-26.79%	-5.24%	-8.22%
HYDR Global X Hydrogen ETF	120.59%	43.73%	-33.08%	-36.49%	-47.24%	-13.89%

Correlation

The correlation between TAN and HYDR is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021	0.68

The correlation between TAN and HYDR shifts across timeframes, from 0.53 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

TAN vs. HYDR - Sectors Allocation Comparison

Sectors	TAN	HYDR
Energy	57.3%	0.4%
Utilities	22.1%	-
Technology	9.7%	0.5%
Financial Services	3.6%	-
Industrials	3.3%	84.7%
Basic Materials	-	2.4%
Communication Services	-	-
Consumer Cyclical	-	2.3%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

TAN vs. HYDR — Risk / Return Rank

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

TAN

TAN Risk / Return Rank: 89
TAN Sharpe Ratio Rank: 93
TAN Sortino Ratio Rank: 87
TAN Omega Ratio Rank: 80
TAN Calmar Ratio Rank: 96
TAN Martin Ratio Rank: 91

HYDR

HYDR Risk / Return Rank: 94
HYDR Sharpe Ratio Rank: 98
HYDR Sortino Ratio Rank: 95
HYDR Omega Ratio Rank: 91
HYDR Calmar Ratio Rank: 96
HYDR Martin Ratio Rank: 92

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.

TAN vs. HYDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Solar ETF (TAN) 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.

	TAN	HYDR	Difference
Sharpe ratio Return per unit of total volatility	3.44	5.52	-2.08
Sortino ratio Return per unit of downside risk	3.94	5.03	-1.09
Omega ratio Gain probability vs. loss probability	1.48	1.60	-0.12
Calmar ratio Return relative to maximum drawdown	9.06	9.93	-0.87
Martin ratio Return relative to average drawdown	22.01	23.46	-1.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAN vs. HYDR - Sharpe Ratio Comparison

The current TAN Sharpe Ratio is 3.44, which is lower than the HYDR Sharpe Ratio of 5.52. The chart below compares the historical Sharpe Ratios of TAN 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.

Sharpe Ratios by Period

	TAN	HYDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.44	5.52	-2.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	-0.20	+0.09

Drawdowns

TAN vs. HYDR - Drawdown Comparison

The maximum TAN drawdown since its inception was -95.29%, which is greater than HYDR's maximum drawdown of -89.28%. Use the drawdown chart below to compare losses from any high point for TAN and HYDR.

Drawdown Indicators

	TAN	HYDR	Difference
Max Drawdown Largest peak-to-trough decline	-95.29%	-89.28%	-6.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.62%	-29.76%	+16.14%
Max Drawdown (3Y) Largest decline over 3 years	-64.40%	-70.32%	+5.92%
Max Drawdown (5Y) Largest decline over 5 years	-73.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.53%	—	—
Current Drawdown Current decline from peak	-66.81%	-49.35%	-17.46%
Average Drawdown Average peak-to-trough decline	-78.51%	-64.22%	-14.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.61%	12.60%	-6.99%

Volatility

TAN vs. HYDR - Volatility Comparison

The current volatility for Invesco Solar ETF (TAN) is 11.81%, while Global X Hydrogen ETF (HYDR) has a volatility of 17.91%. This indicates that TAN 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

	TAN	HYDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.81%	17.91%	-6.10%
Volatility (6M) Calculated over the trailing 6-month period	25.30%	35.50%	-10.20%
Volatility (1Y) Calculated over the trailing 1-year period	37.21%	54.03%	-16.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.74%	47.19%	-7.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.98%	47.19%	-9.21%

TAN vs. HYDR - Expense Ratio Comparison

TAN has a 0.69% expense ratio, which is higher than HYDR's 0.50% expense ratio.

Dividends

TAN vs. HYDR - Dividend Comparison

TAN has not paid dividends to shareholders, while HYDR's dividend yield for the trailing twelve months is around 1.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYDR Global X Hydrogen ETF	1.73%	3.82%	0.40%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Can I hold both TAN and HYDR in my portfolio?

TAN and HYDR have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAN or HYDR?

HYDR has higher volatility (17.91%) compared to TAN (11.81%). In terms of maximum drawdown, TAN dropped -95.29% vs HYDR's -89.28%.

Which ETF is better, TAN or HYDR?

On 3-year performance, HYDR leads with 17.44% vs 0.29% for TAN. On fees, HYDR is cheaper at 0.50% per year. On volatility, TAN has been the lower-risk option at 11.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAN or HYDR?

Over the 3-year period, HYDR has performed better with a 17.44% return vs 0.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAN or HYDR?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.69% for TAN.

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

HYDR has the higher dividend yield at 1.73%, compared with 0.00% for TAN.

What is the main difference between TAN and HYDR?

TAN tracks MAC Global Solar Energy 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: 0.69% for TAN and 0.50% for HYDR.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (5.52 vs 3.44), 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.