AQWA vs. DYNF

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Clean Water ETF (AQWA) and BlackRock U.S. Equity Factor Rotation ETF (DYNF).

AQWA and DYNF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AQWA is a passively managed fund by Global X that tracks the performance of the Solactive Global Clean Water Industry Index. It was launched on Apr 8, 2021. DYNF is an actively managed fund by BlackRock. It was launched on Mar 19, 2019.

Performance

AQWA vs. DYNF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Clean Water ETF (AQWA) and BlackRock U.S. Equity Factor Rotation ETF (DYNF). The values are adjusted to include any dividend payments, if applicable.

AQWA vs. DYNF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AQWA Global X Clean Water ETF	2.38%	13.15%	4.34%	20.13%	-19.89%	15.85%
DYNF BlackRock U.S. Equity Factor Rotation ETF	-3.16%	20.00%	30.29%	36.25%	-20.27%	9.98%

Returns By Period

In the year-to-date period, AQWA achieves a 2.38% return, which is significantly higher than DYNF's -3.16% return.

AQWA

• 1D: 1.25%
• 1M: -7.26%
• YTD: 2.38%
• 6M: -0.13%
• 1Y: 14.19%
• 3Y*: 11.24%
• 5Y*: —
• 10Y*: —

DYNF

• 1D: 0.95%
• 1M: -3.65%
• YTD: -3.16%
• 6M: -0.32%
• 1Y: 21.29%
• 3Y*: 23.07%
• 5Y*: 13.03%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AQWA vs. DYNF - Expense Ratio Comparison

AQWA has a 0.50% expense ratio, which is higher than DYNF's 0.30% expense ratio.

AQWA

Global X Clean Water ETF

DYNF

BlackRock U.S. Equity Factor Rotation ETF

Return for Risk

AQWA vs. DYNF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AQWA

AQWA Risk / Return Rank: 45
AQWA Sharpe Ratio Rank: 46
AQWA Sortino Ratio Rank: 49
AQWA Omega Ratio Rank: 41
AQWA Calmar Ratio Rank: 46
AQWA Martin Ratio Rank: 42

DYNF

DYNF Risk / Return Rank: 70
DYNF Sharpe Ratio Rank: 64
DYNF Sortino Ratio Rank: 66
DYNF Omega Ratio Rank: 69
DYNF Calmar Ratio Rank: 71
DYNF Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AQWA vs. DYNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Clean Water ETF (AQWA) and BlackRock U.S. Equity Factor Rotation ETF (DYNF). 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.

	AQWA	DYNF	Difference
Sharpe ratio Return per unit of total volatility	0.88	1.17	-0.29
Sortino ratio Return per unit of downside risk	1.38	1.73	-0.36
Omega ratio Gain probability vs. loss probability	1.17	1.26	-0.09
Calmar ratio Return relative to maximum drawdown	1.28	1.90	-0.62
Martin ratio Return relative to average drawdown	4.17	8.99	-4.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQWA vs. DYNF - Sharpe Ratio Comparison

The current AQWA Sharpe Ratio is 0.88, which is comparable to the DYNF Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of AQWA and DYNF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AQWA	DYNF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	1.17	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.73	-0.36

Correlation

The correlation between AQWA and DYNF is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AQWA vs. DYNF - Dividend Comparison

AQWA's dividend yield for the trailing twelve months is around 1.44%, more than DYNF's 1.02% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
AQWA Global X Clean Water ETF	1.44%	1.47%	1.40%	1.53%	1.56%	1.20%	0.00%	0.00%
DYNF BlackRock U.S. Equity Factor Rotation ETF	1.02%	1.01%	0.65%	1.11%	1.66%	2.89%	1.52%	1.22%

Drawdowns

AQWA vs. DYNF - Drawdown Comparison

The maximum AQWA drawdown since its inception was -29.44%, smaller than the maximum DYNF drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for AQWA and DYNF.

Drawdown Indicators

	AQWA	DYNF	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-34.72%	+5.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-11.45%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.65%	—
Current Drawdown Current decline from peak	-8.04%	-4.94%	-3.10%
Average Drawdown Average peak-to-trough decline	-8.27%	-6.11%	-2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	2.42%	+1.09%

Volatility

AQWA vs. DYNF - Volatility Comparison

Global X Clean Water ETF (AQWA) and BlackRock U.S. Equity Factor Rotation ETF (DYNF) have volatilities of 5.57% and 5.59%, 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.

Volatility by Period

	AQWA	DYNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	5.59%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.03%	10.02%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	18.21%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	17.49%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	20.05%	-3.38%