AQWA.L vs. IH2O.L
AQWA.L (Global X Clean Water UCITS ETF USD Acc) and IH2O.L (iShares Global Water UCITS ETF) are both Water Equities funds - AQWA.L tracks the Solactive Global Clean Water Industry v2 Index while IH2O.L tracks the S&P Global Water TR. Both are passively managed. Over the past 3 years, AQWA.L returned 9.63%/yr vs 9.16%/yr for IH2O.L. Their correlation of 0.86 suggests significant overlap in exposure. AQWA.L charges 0.50%/yr vs 0.65%/yr for IH2O.L.
Performance
AQWA.L vs. IH2O.L - Performance Comparison
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Different Trading Currencies
AQWA.L is traded in USD, while IH2O.L is traded in GBp. To make them comparable, the IH2O.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AQWA.L achieves a 1.75% return, which is significantly lower than IH2O.L's 2.91% return.
AQWA.L
- 1D
- -0.48%
- 1M
- 1.43%
- 6M
- -0.91%
- YTD
- 1.75%
- 1Y
- 2.14%
- 3Y*
- 9.63%
- 5Y*
- —
- 10Y*
- —
IH2O.L
- 1D
- 0.19%
- 1M
- 3.85%
- 6M
- 1.35%
- YTD
- 2.91%
- 1Y
- 6.52%
- 3Y*
- 9.16%
- 5Y*
- 4.93%
- 10Y*
- 9.66%
AQWA.L vs. IH2O.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% |
IH2O.L iShares Global Water UCITS ETF | 2.91% | 18.03% | 4.26% | 12.99% | -20.80% | 3.77% |
Correlation
The correlation between AQWA.L and IH2O.L is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2021 | 0.86 |
The correlation between AQWA.L and IH2O.L has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
AQWA.L vs. IH2O.L — Risk / Return Rank
AQWA.L
IH2O.L
AQWA.L vs. IH2O.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 (IH2O.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 | IH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.09 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 0.61 | -0.29 |
| Martin ratioReturn relative to average drawdown | 0.69 | 1.36 | -0.67 |
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Drawdowns
AQWA.L vs. IH2O.L - Drawdown Comparison
The maximum AQWA.L drawdown since its inception was -28.61%, smaller than the maximum IH2O.L drawdown of -77.04%. Use the drawdown chart below to compare losses from any high point for AQWA.L and IH2O.L.
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Drawdown Indicators
| AQWA.L | IH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.61% | -77.04% | +48.43% |
Max Drawdown (1Y)Largest decline over 1 year | -11.86% | -10.67% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -17.35% | -16.25% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.94% | — |
Current DrawdownCurrent decline from peak | -7.72% | -5.08% | -2.64% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -30.54% | +21.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 4.77% | +0.79% |
Volatility
AQWA.L vs. IH2O.L - Volatility Comparison
Global X Clean Water UCITS ETF USD Acc (AQWA.L) and iShares Global Water UCITS ETF (IH2O.L) have volatilities of 4.21% and 4.18%, 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 | IH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 4.18% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 11.16% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.91% | 13.68% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 16.52% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 16.48% | +0.84% |
AQWA.L vs. IH2O.L - Expense Ratio Comparison
AQWA.L has a 0.50% expense ratio, which is lower than IH2O.L's 0.65% expense ratio.
Dividends
AQWA.L vs. IH2O.L - Dividend Comparison
AQWA.L has not paid dividends to shareholders, while IH2O.L's dividend yield for the trailing twelve months is around 1.38%.
| 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% |
IH2O.L iShares Global Water UCITS ETF | 1.38% | 1.35% | 1.05% | 1.21% | 1.11% | 1.67% | 1.00% | 1.43% | 1.77% | 1.52% | 1.62% | 1.61% |
Frequently Asked Questions
AQWA.L and IH2O.L have a correlation of 0.78, 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 IH2O.L.
AQWA.L tracks Solactive Global Clean Water Industry v2 Index, while IH2O.L tracks S&P Global Water TR. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for AQWA.L and 0.65% for IH2O.L.
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