HDRO
Defiance Next Gen H2 ETF
HDRO tracks a modified market-cap-weighted index that targets globally-listed firms in the hydrogen and fuel cell segment.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
19.4 M
ASSETS UNDER MGMT
30 bp
EXPENSES
Fund Basics
| Fund sponsor | Defiance ETFs |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 09, 2021 |
| Assets (mns) | $19 |
| Expense ratio | 30 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| BLOOM ENERGY CORPORATION CLASS A | 19.0 % |
| BALLARD POWER SYSTEMS INC | 9.6 % |
| PLUG POWER INC | 9.2 % |
| DOOSAN FUEL CELL CO., LTD. | 7.6 % |
| AIR PRODUCTS & CHEMICALS INC | 4.9 % |
| THYSSENKRUPP NUCERA AG & CO KGAA | 4.9 % |
| CERES POWER HOLDINGS PLC | 4.6 % |
| FUELCELL ENERGY, INC. | 4.1 % |
| LINDE PLC | 4.1 % |
| SFC ENERGY AG | 4.1 % |
Constituent Breakdown
| Number of holdings | 20 |
| Herfindahl-Hirschman Index | 803 |
| Wgt avg mkt cap (mns) | $18,101 |
| Large cap (>$10bn) | 16.5% |
| Mid cap ($2-10bn) | 1.1% |
| Small cap (<$2bn) | 82.5% |
| Developed mkts. | 89.8% |
| Emerging mkts. | 10.2% |
Country Exposure
 |
UNITED STATES | 37.2 % |
 |
BRITAIN | 15.1 % |
 |
SOUTH KOREA | 10.1 % |
 |
CANADA | 9.6 % |
 |
NORWAY | 4.7 % |
 |
GERMANY | 4.1 % |
 |
FRANCE | 3.9 % |
 |
SWEDEN | 3.1 % |
 |
JAPAN | 1.8 % |
 |
DENMARK | 0.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -35.3% | -26.6% | -31.7% | -44.3% | -- | -- | -40.3% | Volatility | 34.4% | 35.5% | 34.0% | 39.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.63 | 43% |
| MSCI EAFE | 1.80 | 55% |
| MSCI Emg Mkts | 1.64 | 45% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.55% |
| ADV of underlying (mns) | $2,489 |
Technical Indicators
| Recent close | $34.65 |
| 30d moving avg. | $35.79 |
| Annualized volatility | 43.0% |
| Relative strength (RSI) | 40 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HDRO |
Expenses vs. HDRO |
ALTAR Score™ vs. HDRO |
|---|---|---|---|---|
| HYDR | Global X Hydrogen ETF | 61.6% | +20 bp | +5.9% |
| IBAT | iShares Energy Storage & Materials ETF | 17.4% | +17 bp | +24.4% |
| CTEC | Global X CleanTech ETF | 15.6% | +20 bp | +24.2% |
| MXI | iShares Global Materials ETF | 11.4% | +11 bp | +28.3% |
Risk and Returns: HDRO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/22/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
HDRO
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
HDRO
-21.3%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 376 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.7%. HDRO's ALTAR Score™ is approximately
5.4 standard deviations
below
the category average. This places HDRO in the 1st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HDROSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| HDRO (30 bp) Percentile rank | 8 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HDRO | 30.0 | 54.5 | 84.5 |
| Peer Avg. | 57.2 | 40.4 | 97.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .