@reflector75 Nice comprehensive current study! Thanks for the info. I've inserted the link below to the full report, scroll down past the abstract. And included a link to the charts showing results.

Please note in their results section they do list issues with the data (although they did a better job collecting information than I usually see in these studies!)
* They did not collect data on whether participants had depression or other mental health issues (dementia was excluded) before taking HRT. They note that the data shows higher mental health issues with HRT most likely because participants already had depression/other. In the UK the guidelines for managing depression for postmenopausal women says to try HRT.
* They did not collect data on which type of HRT was used. (Sigh!)

My takeaway IMHO: Data shows what we know, that pre-menopausal women function somewhat better than postmenopausal. HRT does not seem to improve depression or anxiety at the population level**. There is some difference in cognitive abilities (with/without HRT) but there may not be much difference. Their post hoc data, where they really compare specific differences, shows no "significant" changes in cognition. I'd need to see the post hoc data to see how this affects results.

Emotional and cognitive effects of menopause and hormone replacement therapy
Published online by Cambridge University Press: 27 January 2026
https://www.cambridge.org/core/journals/psychological-medicine/article/emotional-and-cognitive-effects-of-menopause-and-hormone-replacement-therapy/E9D94A6EB0B8A3C03113A93D34A99FD0
Data charts only
https://www.cambridge.org/core/journals/psychological-medicine/article/emotional-and-cognitive-effects-of-menopause-and-hormone-replacement-therapy/E9D94A6EB0B8A3C03113A93D34A99FD0
**Population level: this study looks at the results of a large group, a population. That's good. But individual results may vary. Meaning, HRT may lift your depression if you were feeling low because your skin was thin/more wrinkled, lost of hair, loss of interest in sex - because these are specific issues that concern you, but not necessarily everyone in the study "population". Again, IMHO, In My Humble Opinion based on my level of understanding.