Hydrogen ETFs
Hydrogen is a cornerstone of the global clean energy transition, with applications spanning fuel cells, industrial decarbonisation, and long-duration energy storage.
This list tracks every US-listed ETF offering dedicated exposure to hydrogen producers, fuel cell manufacturers, and electrolyzer companies.
Click any row to expand fund details and top holdings.
| Fund | Ticker | AUM ▼ | ||||
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Global X Hydrogen ETFGlobal X
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HYDR | $168M | ||||
Global X Hydrogen ETFThe Global X Hydrogen ETF (HYDR) tracks the Solactive Global Hydrogen Index, investing in companies positioned to benefit from advances in hydrogen as an energy source. The fund provides exposure across the full hydrogen value chain — from producers and distributors to fuel cell and electrolyzer manufacturers — spanning global markets including the US, South Korea, the UK, and Europe. HYDR is the only remaining US-listed hydrogen ETF after the closure of Defiance’s HDRO in April 2025. With a 0.50% expense ratio and broad global reach, it serves as the primary vehicle for investors seeking dedicated hydrogen exposure through a single ticker. Top holdings are concentrated in fuel cell leaders Bloom Energy and Plug Power, which together account for nearly 30% of the portfolio. Fund Details
AUM$168M
Expense Ratio0.50%
Inception
ExchangeNasdaq
StructureETF
Top 5 Holdings
Bloom Energy (BE)16.02%
Plug Power (PLUG)13.26%
Doosan Fuel Cell (336260 KS)11.67%
Ballard Power (BLDP)7.23%
Vina Tech (126340 KS)6.17%
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Key Terms
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Hydrogen produced by electrolysis powered entirely by renewable electricity. It carries near-zero lifecycle carbon emissions and is considered the most sustainable form of hydrogen. Green hydrogen is currently more expensive than grey hydrogen but is projected to reach cost parity in many regions by 2030–2035 as electrolyser costs fall and renewable electricity becomes cheaper.
Hydrogen produced from natural gas via steam methane reforming (SMR), generating significant CO₂ emissions. Over 95% of current global hydrogen production is grey. It serves as the economic benchmark that green hydrogen must compete with — typically $1–2/kg grey hydrogen vs $3–8/kg for green hydrogen currently.
Hydrogen produced from fossil fuels (typically SMR) with carbon capture and storage (CCS) to reduce CO₂ emissions. Considered a lower-carbon transition fuel, though debate continues around methane leakage and the permanence of geological CO₂ storage. Blue hydrogen is promoted by gas producers as a near-term bridge to green hydrogen.
A device that uses electricity to split water into hydrogen and oxygen through electrolysis. Electrolyzers are the core technology behind green hydrogen production. The three main types are alkaline, proton exchange membrane (PEM), and solid oxide electrolyzers, each with different efficiency profiles and cost structures.
An electrochemical device that converts hydrogen and oxygen directly into electricity and water, with high efficiency and zero local emissions. Types include PEM (vehicles, portable power), SOFC (solid oxide — stationary power), PAFC (phosphoric acid — stationary), and alkaline. Fuel cells are used in FCEVs (hydrogen cars and trucks), backup power systems, and distributed generation.
The annual fee charged by an ETF to cover management, administration, and operational costs, expressed as a percentage of assets under management. A lower expense ratio means less drag on returns over time.
The total market value of all investments managed by an ETF. Higher AUM generally indicates greater liquidity, tighter bid-ask spreads, and lower trading costs for investors. AUM fluctuates with market prices and fund inflows or outflows.
FAQ
As of April 2026, there is one US-listed hydrogen ETF available to investors: the Global X Hydrogen ETF (HYDR). The Defiance Next Gen H2 ETF (HDRO) was closed and liquidated in April 2025, leaving HYDR as the sole dedicated hydrogen ETF on US exchanges.
HYDR tracks the Solactive Global Hydrogen Index, which includes companies involved in hydrogen production, hydrogen fuel cell manufacturing, and hydrogen energy system integration across global markets.
HYDR invests in companies across the hydrogen value chain, including hydrogen producers, fuel cell manufacturers like Bloom Energy and Plug Power, electrolyzer makers like ITM Power, and companies integrating hydrogen into broader energy systems.
The Defiance Next Gen H2 ETF (HDRO) was closed and liquidated in April 2025 due to declining assets and investor interest. The fund had experienced significant losses and its AUM had fallen substantially from its peak, making it uneconomical to operate.
Hydrogen remains a key component of the global energy transition, with governments worldwide committing billions in subsidies and infrastructure spending. However, the sector is still in its early stages and hydrogen stocks have been volatile. Investors should consider their risk tolerance and conduct thorough research before investing. The closure of HDRO in 2025 underscores the niche nature of this space.