Hydrogen ETFs: which are the best? (2026)

Updated on 27 July 2026

The best hydrogen ETFs available in France in 2026 are the L&G Hydrogen Economy, the VanEck Hydrogen Economy, the Invesco Hydrogen Economy and the BNP Paribas Easy ECPI Global ESG Hydrogen Economy. All are UCITS ETFs held in a securities account: none is eligible for the PEA (a French tax-advantaged equity savings account). This article compares their fees, assets under management and holdings.

Key takeaways

• Four UCITS ETFs give access to the hydrogen theme: L&G Hydrogen Economy (the largest, with around €418M in assets), VanEck, Invesco and BNP Paribas Easy.
• Ongoing charges range from 0.30% a year (BNP Paribas Easy) to 0.60% (Invesco), with the L&G sitting at 0.49%.
• No hydrogen ETF is eligible for the PEA: they must be held in a securities account.
• The sector is highly volatile: after several years of decline, these ETFs rebounded sharply over the year to end-May 2026.
• Hydrogen remains a concentrated thematic bet, best used as part of a diversified portfolio rather than a standalone position.

Why invest in hydrogen?

Hydrogen represents a major opportunity within the renewable energy sector. As a clean energy source, hydrogen is seen as a promising alternative to fossil fuels. Governments and companies are investing heavily in developing the hydrogen economy, which makes hydrogen ETFs particularly interesting.

These ETFs do not all track the same index: the L&G Hydrogen Economy tracks the Solactive Hydrogen Economy index, VanEck tracks the MVIS Global Hydrogen Economy ESG index, Invesco the WilderHill Hydrogen Economy index, and BNP Paribas Easy the ECPI Global ESG Hydrogen Economy index. Key clean-energy names found in these funds include Ballard Power Systems, Bloom Energy, Plug Power and Air Liquide.

Overall, the hydrogen sector offers several advantages:

• Promising outlook: as a renewable energy source, hydrogen is part of a fast-expanding sector. Investing in these hydrogen ETFs lets you tap into this dynamic growth.
• Continuous innovation: companies involved in the hydrogen sector are constantly working to develop new technologies and innovations, which can drive superior share performance over the long run.
• Diversification: adding these hydrogen ETFs to your portfolio can increase diversification, broadening your exposure across different asset classes.
• ESG commitment (Environmental, Social and Governance): many hydrogen ETFs apply ESG criteria, meaning they exclude companies that fail to meet specific ethical, environmental and social standards. By investing in these ETFs, you support not only energy innovation but also responsible business practices.

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Our selection of the best hydrogen ETFs in 2026

Among the available options, here is our selection of the best hydrogen ETFs in 2026. According to JustETF data (as of 26 May 2026), these four ETFs have rebounded sharply over one year after several years of decline:

L&G Hydrogen Economy UCITS ETF USD Acc (HTWO)

Good to know : the L&G Hydrogen Economy UCITS ETF USD Acc can be an interesting investment choice for several reasons. It offers exposure to the hydrogen economy, a fast-growing clean technology that could play a key role in the global energy transition. Investing in this ETF gives you exposure to the performance of a selection of companies active in the hydrogen sector. On top of that, with ongoing charges of 0.49% a year, costs are relatively low for a thematic ETF. Lastly, since the ETF is accumulating, income generated is reinvested, which can support long-term capital growth.

VanEck Hydrogen Economy UCITS ETF (HDRO)

Good to know : investing in the VanEck Hydrogen Economy UCITS ETF could be appealing for several reasons. First, this ETF offers exposure to an early-stage technology sector: the hydrogen economy. Hydrogen is increasingly seen as a key substitute for fossil fuels in a net-zero future, and its use and development are accelerating. This could mean significant growth for the companies included in the ETF. On top of that, the ETF is structured as an open-ended investment company, which can offer flexibility in asset management. That said, this type of thematic ETF remains highly volatile: after several difficult years, it rebounded by around +50% over one year (as of 26/05/2026), which illustrates the level of risk involved in this investment. The ETF's ongoing charges stand at 0.55%, which is relatively low compared with other funds.

Invesco Hydrogen Economy UCITS ETF Acc (QDVA)

Good to know : investing in the Invesco Hydrogen Economy UCITS ETF Acc can be appealing for several reasons. First, it provides exposure to the hydrogen economy, a fast-growing sector driven by the global shift to renewable energy. Second, it offers geographic and sector diversification, since it invests in companies across different countries and sectors linked to hydrogen. Lastly, its management fees are relatively low for a thematic ETF, which can help improve net returns for investors.

BNP Paribas Easy ECPI Global ESG Hydrogen Economy UCITS ETF (H2O)

Good to know : this ETF offers unique exposure to the global hydrogen economy and to environmental, social and governance (ESG) investing. Given the growing importance of the shift towards cleaner, more sustainable energy sources, hydrogen is often seen as a key part of that transition. This ETF also follows an income-accumulation policy, meaning all income generated is reinvested in the fund, supporting potential long-term growth of your investment.

Lastly, even though these ETFs focus on the hydrogen sector, it is essential to diversify your portfolio to minimise risk. Do not hesitate to also invest in other sectors, such as renewable energy (wind, solar) or other green technologies (batteries, electric vehicles).

How to invest in hydrogen with ETFs?

To invest in hydrogen with ETFs, you can open a securities account or a PEA (a French tax-advantaged equity savings account). PEA eligibility depends on the characteristics of the chosen ETF, and unfortunately no ETF in this sector is currently eligible. Once your ETFs are held in a securities account, apps like Finary let you track their performance alongside the rest of your portfolio, across all brokers.

Also take ESG criteria into account to assess the environmental, social and governance factors of the companies selected within the ETF.

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In summary: hydrogen, a promising sector with diversification potential

Hydrogen is a promising sector for investors, as it represents a renewable energy source of growing importance. As demand for green energy keeps rising, it seems worth considering an investment in ETFs focused on the hydrogen market.

Investing in hydrogen with ETFs is an appealing strategy to diversify your portfolio and gain exposure to the renewable energy sector. However, it is important to note that most hydrogen ETFs are not eligible for the PEA, so they must be held in a securities account.

Do not hesitate to check each ETF's documentation and to weigh the benchmark index's performance, assets under management and index composition before making your choice.

Frequently asked questions

What is a hydrogen ETF?

A hydrogen ETF is a listed index fund that groups together shares of companies active in the hydrogen value chain (production, fuel cells, equipment manufacturers, distribution), an energy source seen as a lever for the energy transition.

What are the best hydrogen ETFs in 2026?

The main UCITS hydrogen ETFs available in France are the L&G Hydrogen Economy, the VanEck Hydrogen Economy, the Invesco Hydrogen Economy and the BNP Paribas Easy ECPI Global ESG Hydrogen Economy. They differ in their fees, assets under management and the index they track.

Are hydrogen ETFs eligible for the PEA?

No. As of today, no hydrogen ETF is eligible for the PEA because they mostly invest in non-European stocks. They must be held in a securities account, where gains are subject to securities taxation.

Are hydrogen ETFs a good long-term investment?

They offer exposure to a forward-looking theme but remain highly volatile sector investments, as shown by their recent sharp swings. They carry a risk of capital loss and should be viewed as one building block of a diversified portfolio, not a standalone position.

What are the risks of hydrogen ETFs?

They concentrate risk on a single emerging sector: high volatility, dependence on public support and technological progress, low assets under management for some funds, and currency risk (several are priced in USD).

How do you buy a hydrogen ETF?

Simply open a securities account with an online broker, then place a market order using the ISIN or ticker of the chosen ETF. Shares can be sold at any time during market hours, at the prevailing price.

Sources

JustETF, L&G Hydrogen Economy UCITS ETF USD Acc factsheet (assets, fees, performance as of 26/05/2026)

JustETF, VanEck Hydrogen Economy UCITS ETF factsheet (MVIS index, assets, performance)

JustETF, Invesco Hydrogen Economy UCITS ETF Acc factsheet (WilderHill index)

JustETF, BNP Paribas Easy ECPI Global ESG Hydrogen Economy UCITS ETF factsheet