At a glance
HYDR charges 0.5% a year, below the 0.52% average of the 4 funds most like it (the 3rd cheapest of 5). It has $103.2M in assets, the 5th largest of that group; it paid 3.58% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −7.3% with distributions reinvested (S&P 500: +11.5%), 4th of those 5 funds; over three years it returned +9.3% a year. At its worst it fell 52.1% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high. Its ten largest positions make up 70.3% of the fund, out of 31 in all.
The short version
Global X Hydrogen ETF (HYDR) is an index fund that tracks the Solactive Global Hydrogen Index. The index holds companies that make fuel cells and electrolyzers or that produce hydrogen. It is much narrower than broad clean-energy funds. As of August 31, 2026, it held 31 companies, and its top 10 made up 70% of assets, led by Bloom Energy. It costs 0.50% a year, close to the 0.52% average of similar funds.
Price history
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HYDR -7.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| HYDR official prospectus, to Dec 31, 2025 | — | +45.15% | — | — | — | -25.48% |
| HYDR price data to Oct 27, 2026 | +17.0% | -7.3% | +9.3% | -21.0% | — | -19.0% |
- Over the year to Oct 27, 2026, HYDR returned -7.3%, 4th of 5 among similar funds.
- Its 5-year annualized return was -21.0%.
- Its worst full calendar year was 2022 (-47.2%); its best was 2025 (+43.8%).
- The deepest fall in its price history was 89.3% (Nov 8, 2021 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +17.0% | — |
| 2025 | +43.8% | +45.15% |
| 2024 | -33.1% | -32.66% |
| 2023 | -36.5% | -37.26% |
| 2022 | -47.2% | -46.74% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 52.1% over that stretch · deepest drop along the way 52.1%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3700 | |
| 2025 | $1.2100 | +1244.4% |
| 2024 | $0.0900 |
What's inside
As of Aug 31, 2026, the fund held 31 securities; the ten largest made up 70.35% of assets.
| Holding | Weight | |
|---|---|---|
| BLOOM ENERGY CORPORATION | 13.68% | |
| Doosan Fuel Cell Co., Ltd. | 10.73% | |
| PLUG POWER INC. | 10.36% | |
| CERES POWER HOLDINGS PLC | 7.46% | |
| SFC Energy AG | 6.81% | |
| FUELCELL ENERGY, INC. | 5.54% | |
| ITM POWER PLC | 4.51% | |
| Nel ASA | 4.36% | |
| BALLARD POWER SYSTEMS INC. | 3.53% | |
| H-POWER PLC | 3.37% | |
| AIR PRODUCTS AND CHEMICALS, INC. | 3.16% | |
| TOYOTA MOTOR CORPORATION | 3.07% | |
| VINATECH CO.,LTD | 3.02% | |
| Powercell Sweden AB (publ) | 2.79% | |
| Iljin HySolus Co Ltd | 2.69% |
By country
United States 50.76%South Korea 19.32%United Kingdom 17.83%Germany 6.81%Hong Kong 4.87%By asset type
Stocks 99.42%RA 11.01%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $3.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.46%, -23.83%, -23.63%.
How it works
This fund tracks the Solactive Global Hydrogen Index, a rules-based stock list from Solactive AG. At least 80% of assets go into index stocks or depositary receipts tied to them. Core holdings must get at least 50% of revenue, operating income or assets from producing or storing hydrogen, making fuel cells or equipment such as electrolyzers (machines that split water into hydrogen), or providing hydrogen engineering services.
Software that reads filings and earnings-call transcripts ranks candidates, and Solactive reviews the top names. As of January 31, 2026, stocks needed at least $50 million in market value and $0.5 million in average daily trading. Emerging markets, including China, were eligible. If fewer than 25 core companies qualify, firms with smaller hydrogen sales or no revenue yet can join, capped at 2% each and 10% combined.
Twice a year the index refreshes and reweights holdings by market value, with caps: 12% for any one stock, 45% combined for positions of 4.5% or more, and 4.5% for the rest. Weights drift in between: as of August 31, 2026, Bloom Energy was 13.7% of the fund, and the top 10 of 31 holdings totaled 70%. Unlike most ETFs, it often issues and redeems shares for cash, which may force sales and reduce tax efficiency.
What it really costs
- HYDR charges 0.5% a year, versus an average of 0.52% for the similar funds below (3rd of 5, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HYDR | $51 | $160 | $280 | $628 |
In a retirement portfolio
It is a concentrated, very volatile single-theme fund that once fell 89% from its peak, so it fits only as a small add-on to a diversified core.
HYDR could add a small, targeted bet on hydrogen technology, but its history shows the risk. It launched in July 2021, so it has no record for 2008 or 2020. In the 2022 bear market its price fell 52%. Its prospectus shows a 46.7% loss in 2022, followed by losses of 37.3% in 2023 and 32.7% in 2024. From November 8, 2021, to April 8, 2025, it fell 89%, and it had not recovered as of October 27, 2026. Selling shares during a slump like that would lock in deep losses. As of October 27, 2026, its trailing yield was 3.58%, paid twice a year, though payouts can vary. It costs 0.50% a year, or $51 in the first year on $10,000 in the SEC's standard example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want focused exposure to fuel-cell and electrolyzer makers such as Bloom Energy, Plug Power and Doosan Fuel Cell, rather than broad clean energy.
- People who could hold through a drop like the 89% fall from November 2021 to April 2025 without needing to sell.
- Those who want global theme exposure: about half US, with South Korea, the UK, Germany and Norway making up much of the rest.
Look elsewhere if
- Retirees who may need to sell shares or draw income in a downturn. The fund lost money in 2022, 2023 and 2024.
- Investors who want wider clean-energy exposure. ICLN (0.41%) and CNRG (0.45%) cost less and share only 11–14% of HYDR's holdings.
- Taxable investors who value tax efficiency. Cash redemptions and 72% turnover may lead to more capital gains payouts than a typical ETF.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| HYDR this fund | — | 0.5% | $103.2M | -7.3% | +9.3% |
| CNRG SPDR S&P Kensho Clean Power ETF | 14% | 0.45% | $249.7M | -18.9% | +11.7% |
| QCLN First Trust NASDAQ Clean Edge Green Energy … | 11% | 0.59% | $836.7M | -2.0% | +9.8% |
| ICLN iShares Global Clean Energy ETF | 11% | 0.41% | $2.31B | -4.3% | +8.8% |
| SMOG VanEck Low Carbon Energy ETF | 7% | 0.61% | $143.7M | -1.1% | +13.4% |
Questions investors ask
Is HYDR good for retirement?
HYDR is a high-risk theme fund, so in a retirement portfolio it fits only as a small satellite position, if at all. Its price fell 89% from November 8, 2021, to April 8, 2025, and had not recovered by October 27, 2026. Its one-year volatility was 49.8%. Its beta of 2.22 means it has swung more than twice as much as the stock market. That makes it hard to rely on for money you may need to spend.
Does HYDR pay dividends?
Yes, HYDR pays distributions twice a year. Over the 12 months to October 27, 2026, it paid $1.32 per share, a trailing yield of 3.58%. Payouts depend on what its hydrogen and fuel-cell holdings pay, and they can change a lot from one period to the next. A single year's yield is not a reliable guide to future income.
What's the difference between HYDR and CNRG?
HYDR focuses only on hydrogen companies. SPDR S&P Kensho Clean Power ETF (CNRG) is a broader clean-power fund, and the two share only 14% of their holdings. CNRG costs 0.45% a year, compared with 0.50% for HYDR. It had $250 million in assets as of June 30, 2026, compared with HYDR's $103 million as of August 31, 2026. As of October 27, 2026, CNRG returned -18.9% over one year and 11.7% a year over three years. HYDR returned -7.3% and 9.3% over the same periods.
What are HYDR's top holdings?
As of August 31, 2026, HYDR's largest holdings were Bloom Energy (13.7%), Doosan Fuel Cell (10.7%), Plug Power (10.4%), Ceres Power (7.5%) and SFC Energy (6.8%). The fund held 31 companies, and its top 10 made up 70% of assets, so a handful of stocks drive results. US companies made up about 51% of the fund, South Korea 19% and the UK 18%.
What is HYDR's expense ratio?
HYDR's expense ratio is 0.50% a year, all of it a management fee, with no fee waiver. In the SEC's standard example, $10,000 earning 5% a year would cost about $51 after one year, $160 after three, $280 after five and $628 after ten. That is close to the 0.52% average for similar funds. It is cheaper than QCLN (0.59%) and SMOG (0.61%), but more expensive than ICLN (0.41%) and CNRG (0.45%).