What Is HYDR? Global X Hydrogen ETF

HYDR is the Global X Hydrogen ETF, launched in July 2021 by Global X ETFs. It tracks the Solactive Global Hydrogen Index, a modified market-cap-weighted benchmark of companies tied to the hydrogen economy, and charges a 0.50% expense ratio.

The fund holds roughly 25 pure-play names spanning fuel cells, electrolyzers, and hydrogen production. It is designed for investors who want direct, concentrated exposure to hydrogen rather than the broader clean-energy sector.

Approximate weights as of mid-2026; refresh quarterly from Global X ETFs (Mirae Asset)'s fund page. Each ticker links to its individual stock guide in Walnut.

HYDR's portfolio is concentrated in a small set of hydrogen specialists. Top holdings include Bloom Energy at roughly 16%, Plug Power near 12%, and Doosan Fuel Cell around 11%, followed by Nel ASA, ITM Power, and Ballard Power Systems.

Because single-stock weights are capped near 12% at rebalance but can drift higher, a handful of positions drive most of the fund's performance. Many holdings are international and early-stage, which adds currency and execution risk on top of the theme itself.

Compared with ICLN, the iShares Global Clean Energy ETF, HYDR is far narrower. ICLN holds about 100 solar, wind, and utility companies and charges 0.39%, spreading risk across the clean-energy landscape. HYDR bets specifically on hydrogen with about 25 names.

HYDR's closest peer is HDRO, the Defiance Hydrogen ETF. Both are pure-play hydrogen funds with overlapping holdings, but they use different indexes and issuers. Investors choosing between them usually compare fees, holdings overlap, and liquidity.

HYDR has had a difficult run since its 2021 launch, as rising interest rates and slower-than-hoped hydrogen adoption pressured its early-stage holdings. Its small asset base reflects that drawdown.

The long-term case rests on green hydrogen scaling for industry, heavy transport, and energy storage, supported by policy incentives. That outlook is real but uncertain and multi-year, so HYDR remains a high-risk, high-dispersion way to express it.

Whether HYDR fits depends on your goals, risk tolerance, and time horizon, and Walnut is not an investment adviser. HYDR is a concentrated, volatile thematic fund, so most investors who hold it size it as a small satellite position alongside broader holdings.

If you want clean-energy exposure with less single-theme risk, a diversified fund like ICLN may suit better. If you specifically want to express a hydrogen view and can tolerate large swings, HYDR is one of the few direct ways to do it.

HYDR carries two risks worth naming explicitly. First, concentration: with only about 25 holdings and top weights near 12%, a few names dominate returns, and many are unprofitable early-stage companies whose shares move sharply on sentiment.

Second, small size: with assets around $60 million, HYDR can have wider bid-ask spreads and thinner trading than large funds. Using limit orders helps you control your entry price and avoid overpaying on a wide spread.

HYDR trades on the Nasdaq and can be bought in any standard brokerage account, including Robinhood, Fidelity, Schwab, and Public. Many of these brokers support fractional shares, so you can start with a small dollar amount given HYDR's higher price and volatility.

You can also connect your existing broker to Walnut to track HYDR next to your other positions and target weights, and use Walnut to see how a hydrogen sleeve fits your overall plan before adding to it.

HYDR is a narrow, high-conviction bet on the hydrogen economy, not a diversified holding. At 0.50% it costs more than a broad clean-energy fund, and its tiny asset base and concentration make it volatile. Most investors treat it as a small satellite position, not a core one.

Whether HYDR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is HYDR a buy?

HYDR yields ~2% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see HYDR dividend: yield and schedule.