USD.AX vs. HGEN.AX
USD.AX (BetaShares U.S. Dollar ETF) and HGEN.AX (Global X Hydrogen ETF) are both Global Equities funds - USD.AX tracks the BetaShares U.S. Dollar Index while HGEN.AX tracks the Global X Hydrogen Index. Both are passively managed. Over the past 3 years, USD.AX returned 3.39%/yr vs 12.54%/yr for HGEN.AX. At a correlation of -0.31, they often move in opposite directions.
Performance
USD.AX vs. HGEN.AX - Performance Comparison
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Returns By Period
In the year-to-date period, USD.AX achieves a -2.48% return, which is significantly lower than HGEN.AX's 43.83% return.
USD.AX
- 1D
- -0.07%
- 1M
- 1.54%
- 6M
- -2.68%
- YTD
- -2.48%
- 1Y
- -3.06%
- 3Y*
- 3.39%
- 5Y*
- 4.46%
- 10Y*
- 2.72%
HGEN.AX
- 1D
- -3.10%
- 1M
- -14.66%
- 6M
- 13.86%
- YTD
- 43.83%
- 1Y
- 92.59%
- 3Y*
- 12.54%
- 5Y*
- —
- 10Y*
- —
USD.AX vs. HGEN.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USD.AX BetaShares U.S. Dollar ETF | -2.48% | -3.37% | 15.22% | 3.37% | 8.32% | 0.15% |
HGEN.AX Global X Hydrogen ETF | 43.83% | 43.64% | -10.40% | -20.10% | -36.18% | 7.90% |
Correlation
The correlation between USD.AX and HGEN.AX is -0.36, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | -0.31 |
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Return for Risk
USD.AX vs. HGEN.AX — Risk / Return Rank
USD.AX
HGEN.AX
USD.AX vs. HGEN.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaShares U.S. Dollar ETF (USD.AX) and Global X Hydrogen ETF (HGEN.AX). 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.
| USD.AX | HGEN.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.31 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 3.61 | -3.95 |
| Martin ratioReturn relative to average drawdown | -0.62 | 9.67 | -10.29 |
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Drawdowns
USD.AX vs. HGEN.AX - Drawdown Comparison
The maximum USD.AX drawdown since its inception was -30.05%, smaller than the maximum HGEN.AX drawdown of -72.54%. Use the drawdown chart below to compare losses from any high point for USD.AX and HGEN.AX.
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Drawdown Indicators
| USD.AX | HGEN.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.05% | -72.54% | +42.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -25.14% | +15.30% |
Max Drawdown (3Y)Largest decline over 3 years | -14.54% | -49.84% | +35.30% |
Max Drawdown (5Y)Largest decline over 5 years | -14.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.05% | — | — |
Current DrawdownCurrent decline from peak | -10.73% | -25.22% | +14.49% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -47.63% | +38.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.49% | 9.50% | -4.01% |
Volatility
USD.AX vs. HGEN.AX - Volatility Comparison
The current volatility for BetaShares U.S. Dollar ETF (USD.AX) is 1.70%, while Global X Hydrogen ETF (HGEN.AX) has a volatility of 13.18%. This indicates that USD.AX experiences smaller price fluctuations and is considered to be less risky than HGEN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USD.AX | HGEN.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 13.18% | -11.48% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 32.95% | -25.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.46% | 46.74% | -37.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 36.64% | -25.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 36.64% | -26.08% |
Dividends
USD.AX vs. HGEN.AX - Dividend Comparison
USD.AX has not paid dividends to shareholders, while HGEN.AX's dividend yield for the trailing twelve months is around 0.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HGEN.AX Global X Hydrogen ETF | 0.78% | 0.34% | 0.60% | 0.17% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD.AX BetaShares U.S. Dollar ETF | 0.00% | 2.53% | 3.89% | 3.39% | 0.00% | 0.00% | 1.19% | 2.37% | 0.76% | 0.17% | 0.08% |
Frequently Asked Questions
USD.AX and HGEN.AX have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD.AX tracks BetaShares U.S. Dollar Index, while HGEN.AX tracks Global X Hydrogen Index. They also come from different issuers: BetaShares and Global X.
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