VanEck
HDRO.L
IE00BMDH1538
VanEck Hydrogen Economy UCITS ETF
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About this ETF

The VanEck Hydrogen Economy UCITS ETF seeks to track the MVIS Global Hydrogen Economy ESG index. The MVIS Global Hydrogen Economy ESG index tracks the largest and most liquid companies worldwide engaged in the hydrogen economy. The stocks included are filtered according to ESG criteria (environmental, social and corporate governance).

TER
0.55%

Total Expense Ratio per year

Fund Size
€96.93M

Assets under management

Holdings
20

Underlying equities

Dividend Yield
0%

Accumulating

Fundamentals & Estimates

Weighted valuation multiples and analyst forecasts

Valuation Multiples
Weighted P/E
36.27
Weighted Fwd P/E
1,306.39
💰 Revenue Estimates
Current Year CY
+40.01% ⌀ 13 Analysts Coverage
Next Year NY
+27.42% ⌀ 14 Analysts Coverage
📈 EPS Estimates (Earnings Per Share)
Current Year CY
+39.14% ⌀ 12 Analysts Coverage
Next Year NY
+41.15% ⌀ 11 Analysts Coverage

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ETF Profile
Provider
VanEck
 VanEck
Fund Type
ETF
Type
Passive
Inception Date
03/26/2021 (5 yrs)
Index Group
MVIS Hydrogen Economy
Index
MVIS Global Hydrogen Economy ESG
Region
World
Country
-
Sector
-
Strategy
-
Theme
Hydrogen
Distribution Policy
Accumulating
Replication
Full replication
Sustainable
Yes

🛡️ Risk & Structural Analysis

Multi-Factor Risk Model & Market Data

7/7 Very High
48/100 Moderate
Diversification Score
48/100 Moderate
5Y Volatility
38.8% p.a.
Max Drawdown (5Y)
-81.0%
Sharpe Ratio (5Y)
-0.39
Beta Factor
0.00
Notes & Warnings
Fund Volume (AUM) Solid fund volume
⚠️ Elevated valuation: Avg P/E of 36.3
🟡 Moderate analyst coverage (11.6 analysts)
🔴 Extreme top 10 holdings concentration: 81% of fund in top 10 positions.
🔴 Severe sector concentration risk: 56% in "Industrials".
⚠️ Sector concentration: 43% in "Basic Materials".
⚠️ Industry concentration: 45% in "Electrical Equipment & Parts".
⚠️ Industry concentration: 38% in "Specialty Chemicals".
🔴 High Commodity Concentration: 43% of fund depends directly on volatile energy and raw material markets.
🔴 Dominant Cyclicality: 100% in cyclical industries – higher drawdown risk in recessions.
ℹ️ Tech-Capex Exposure: 45% in semiconductors & hardware – dependent on hyperscaler capex cycles.
🔴 Structurally High Volatility: Above-average fluctuations persist across 5 to 10 years (38.8% p.a.).
⚠️ Historical Stress Test: Maximum peak-to-trough drawdown of -81.0% in the extended horizon.
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