How has the ETFS Hydrogen ETF (ASX:HGEN) share price been performing since listing?

This hydrogen ETF is giving investors some impressive gains…

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It’s been less than a month since the ETFS Hydrogen ETF (ASX: HGEN) made its debut on the ASX. But even though this exchange-traded fund (ETF) only floated back on 7 October, it’s already made quite the splash. Last week, we covered how this Hydrogen ETF was up almost 12% from where it started life on the ASX. As we said at the time, not a bad return for two weeks’ effort.

So how is HGEN going as it rapidly approaches the one-month mark?

HGEN: The most explosive hydrogen investment since the Hindenburg?

Well, as this ETF stands today, it’s trading at $11.98 per unit, up 0.25%. Since this ETF floated at a unit price of roughly $10.09, this means that the HGEN ETF is now up an impressive more than 18% since its ASX debut just 3 weeks ago. If this ETF continues at the current pace (for the record, unlikely), its investors will become very rich very quickly.

Let’s check out the underlying companies that are responsible for these rapid gains. So according to the fund provider, HGEN invests in a “concentrated portfolio of hydrogen companies with a focus on pure plays”.

The fund tracks the Solactive Global Hydrogen ESG Index, which presently holds 30 companies within it. As it stands today, the 5 largest of these holdings are Plug Power Inc (NASDAQ: PLUG)Ballard Power Systems Inc (NASDAQ: BLDP), ITM Power plc (LON: ITM), Bloom Energy Corp (NYSE: BE) and Doosan Fuel Cell Co Ltd (KRK: 336260)

Since this ETF’s ASX float, Plug Power shares are up 31.9%. Ballard Power Systems shares have risen by roughly 19%, while ITM Power is up 24.9%. Bloom Energy has appreciated by 44.1% while Doosan is up 13.9%.

Looking at these numbers, and it’s fairly easy to see why HGEN has had such a successful first 3 weeks on the ASX.

The ETFS Hydrogen ETF charges a management fee of 0.69% per annum, or $69 per year for every $10,000 invested.

Should you invest $1,000 in ETFS Hydrogen ETF right now?

Before you consider ETFS Hydrogen ETF, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and ETFS Hydrogen ETF wasn't one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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