AQWA vs. PIO
Compare and contrast key facts about Global X Clean Water ETF (AQWA) and Invesco Global Water ETF (PIO).
AQWA and PIO 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. PIO is a passively managed fund by Invesco that tracks the performance of the NASDAQ OMX Global Water Index. It was launched on Jun 13, 2007. Both AQWA and PIO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
AQWA vs. PIO - Performance Comparison
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AQWA vs. PIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AQWA Global X Clean Water ETF | 1.11% | 13.15% | 4.34% | 20.13% | -19.89% | 15.85% |
PIO Invesco Global Water ETF | -1.55% | 14.25% | -0.44% | 22.19% | -24.06% | 16.73% |
Returns By Period
In the year-to-date period, AQWA achieves a 1.11% return, which is significantly higher than PIO's -1.55% return.
AQWA
- 1D
- 1.97%
- 1M
- -8.83%
- YTD
- 1.11%
- 6M
- -1.57%
- 1Y
- 13.23%
- 3Y*
- 10.78%
- 5Y*
- —
- 10Y*
- —
PIO
- 1D
- 2.81%
- 1M
- -10.03%
- YTD
- -1.55%
- 6M
- -3.09%
- 1Y
- 9.33%
- 3Y*
- 8.47%
- 5Y*
- 4.56%
- 10Y*
- 8.80%
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AQWA vs. PIO - Expense Ratio Comparison
AQWA has a 0.50% expense ratio, which is lower than PIO's 0.75% expense ratio.
Return for Risk
AQWA vs. PIO — Risk / Return Rank
AQWA
PIO
AQWA vs. PIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Clean Water ETF (AQWA) and Invesco Global Water ETF (PIO). 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 | PIO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.53 | +0.29 |
Sortino ratioReturn per unit of downside risk | 1.30 | 0.89 | +0.41 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.12 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.70 | +0.46 |
Martin ratioReturn relative to average drawdown | 3.81 | 2.54 | +1.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AQWA | PIO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.53 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.26 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.20 | +0.16 |
Correlation
The correlation between AQWA and PIO is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
AQWA vs. PIO - Dividend Comparison
AQWA's dividend yield for the trailing twelve months is around 1.45%, more than PIO's 1.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQWA Global X Clean Water ETF | 1.45% | 1.47% | 1.40% | 1.53% | 1.56% | 1.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PIO Invesco Global Water ETF | 1.03% | 1.04% | 0.78% | 0.84% | 1.02% | 1.19% | 0.88% | 1.20% | 2.00% | 1.00% | 1.45% | 1.63% |
Drawdowns
AQWA vs. PIO - Drawdown Comparison
The maximum AQWA drawdown since its inception was -29.44%, smaller than the maximum PIO drawdown of -64.88%. Use the drawdown chart below to compare losses from any high point for AQWA and PIO.
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Drawdown Indicators
| AQWA | PIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.44% | -64.88% | +35.44% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -13.14% | +1.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.76% | — |
Current DrawdownCurrent decline from peak | -9.17% | -10.61% | +1.44% |
Average DrawdownAverage peak-to-trough decline | -8.27% | -15.50% | +7.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.62% | -0.14% |
Volatility
AQWA vs. PIO - Volatility Comparison
The current volatility for Global X Clean Water ETF (AQWA) is 5.55%, while Invesco Global Water ETF (PIO) has a volatility of 6.83%. This indicates that AQWA experiences smaller price fluctuations and is considered to be less risky than PIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQWA | PIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 6.83% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.97% | 10.78% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.14% | 17.54% | -1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.67% | 17.48% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.67% | 18.13% | -1.46% |