That sole flagbearer for hydrogen technology is the aptly-named Global X Hydrogen ETF (ASX: HGEN). This ETF pretty much does what it says on the tin. It offers ASX investors exposure, through the tracking of the Solactive Global Hydrogen ESG Index, to some of the leading companies in the production, development and commercialisation of hydrogen and fuel cell technology.

Hydrogen remains an area of interest for investors looking to harness the next generation of energy infrastructure. It has potential applications that range from fuel-cell batteries to the production of green steel and ammonia, and even potentially nuclear fusion.

HGEN's portfolio is truly international. US stocks make up just under 38% of the portfolio, with South Korea contributing another 19%. Other countries that are present include Taiwan, Britain, Belgium, and Japan.

This hydrogen ETF counts the likes of Bloom Energy, Kaori Heat, Doosan Fuel Cell, Plug Power, Screen Holdings, Ceres Power, and Hyundai Engineering & Construction as top holdings.

But let's talk performance.

How has this ASX hydrogen ETF delivered 155% in 12 months?

As you may have gleaned from the headline, this ASX hydrogen ETF has exploded in value over the past 12 months. HGEN units alone were going for just $4.82 each this time last year. At the time of writing, those same units are worth $12.31. That's a rise worth more than 155%.

Year to date in 2026, the Global X Hydrogen ETF has gained an equally impressive 74.6%.

It seems that top holding Bloom Energy is mostly to thank for this incredible performance. This US-listed fuel cell manufacturer has exploded about 1,430% higher over the past 12 months, and by 233% in 2026 to date.

HGEN's performance has been a little more muted if we zoom out, however. As of 17 June, this ETF has delivered an average of 201.2% per annum over the past three years. Since its inception in 2021, we are looking at a return of just 4.3% per annum.

Even so, no doubt many HGEN investors won't mind, given the stonking returns of the past 12 months (and respectable ones from the past three years).

Let's see what happens with HGEN over the rest of 2026 and beyond.

The Global X Hydrogen ETF charges a management fee of 0.69% per annum.

The post This ASX hydrogen ETF is up 155% in 12 months appeared first on The Motley Fool Australia.