AQWA.L vs. DH2O.L
AQWA.L (Global X Clean Water UCITS ETF USD Acc) and DH2O.L (iShares Global Water UCITS ETF USD (Dist)) are both exchange-traded funds - AQWA.L is a Water Equities fund tracking the Solactive Global Clean Water Industry v2 Index, while DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD). Both are passively managed. Over the past 3 years, AQWA.L returned 9.63%/yr vs 8.88%/yr for DH2O.L. Their correlation of 0.88 suggests significant overlap in exposure. AQWA.L charges 0.50%/yr vs 0.65%/yr for DH2O.L.
Performance
AQWA.L vs. DH2O.L - Performance Comparison
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Returns By Period
In the year-to-date period, AQWA.L achieves a 1.75% return, which is significantly lower than DH2O.L's 2.64% return.
AQWA.L
- 1D
- -0.48%
- 1M
- 1.43%
- 6M
- -0.91%
- YTD
- 1.75%
- 1Y
- 2.14%
- 3Y*
- 9.63%
- 5Y*
- —
- 10Y*
- —
DH2O.L
- 1D
- -0.07%
- 1M
- 2.85%
- 6M
- 0.83%
- YTD
- 2.64%
- 1Y
- 6.10%
- 3Y*
- 8.88%
- 5Y*
- 4.80%
- 10Y*
- 9.56%
AQWA.L vs. DH2O.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AQWA.L Global X Clean Water UCITS ETF USD Acc | 1.75% | 12.96% | 5.98% | 25.16% | -19.37% | 1.47% |
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 2.64% | 17.60% | 4.29% | 13.57% | -20.83% | 3.51% |
Correlation
The correlation between AQWA.L and DH2O.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2021 | 0.88 |
The correlation between AQWA.L and DH2O.L has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
AQWA.L vs. DH2O.L — Risk / Return Rank
AQWA.L
DH2O.L
AQWA.L vs. DH2O.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Clean Water UCITS ETF USD Acc (AQWA.L) and iShares Global Water UCITS ETF USD (Dist) (DH2O.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AQWA.L | DH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.10 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 0.66 | -0.34 |
| Martin ratioReturn relative to average drawdown | 0.69 | 1.53 | -0.84 |
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Drawdowns
AQWA.L vs. DH2O.L - Drawdown Comparison
The maximum AQWA.L drawdown since its inception was -28.61%, smaller than the maximum DH2O.L drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for AQWA.L and DH2O.L.
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Drawdown Indicators
| AQWA.L | DH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -56.90% | +28.29% |
Max Drawdown (1Y)Largest decline over 1 year | -11.86% | -10.53% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -17.35% | -16.08% | -1.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.56% | — |
Current DrawdownCurrent decline from peak | -7.72% | -5.23% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -10.39% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 4.58% | +0.98% |
Volatility
AQWA.L vs. DH2O.L - Volatility Comparison
Global X Clean Water UCITS ETF USD Acc (AQWA.L) and iShares Global Water UCITS ETF USD (Dist) (DH2O.L) have volatilities of 4.21% and 4.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQWA.L | DH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 4.04% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 10.79% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.91% | 13.58% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 16.74% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 16.48% | +0.84% |
AQWA.L vs. DH2O.L - Expense Ratio Comparison
AQWA.L has a 0.50% expense ratio, which is lower than DH2O.L's 0.65% expense ratio.
Dividends
AQWA.L vs. DH2O.L - Dividend Comparison
AQWA.L has not paid dividends to shareholders, while DH2O.L's dividend yield for the trailing twelve months is around 1.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQWA.L Global X Clean Water UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 1.36% | 1.33% | 1.06% | 1.18% | 1.09% | 1.66% | 0.94% | 1.39% | 1.80% | 1.46% | 1.76% | 1.65% |
Frequently Asked Questions
AQWA.L and DH2O.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AQWA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AQWA.L is cheaper with a 0.50% expense ratio, compared with 0.65% for DH2O.L.
AQWA.L is categorized as Water Equities, while DH2O.L is Global Equities. AQWA.L tracks Solactive Global Clean Water Industry v2 Index, while DH2O.L tracks S&P Global Water Index (NET) (USD). They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for AQWA.L and 0.65% for DH2O.L.
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