AQWA vs. SIL

Last updated Jun 4, 2026

AQWA (Global X Clean Water ETF) and SIL (Global X Silver Miners ETF) are both exchange-traded funds - AQWA is a Water Equities fund tracking the Solactive Global Clean Water Industry Index, while SIL is a Silver fund tracking the Solactive Global Silver Miners Total Return Index. Both are passively managed. Over the past 5 years, AQWA returned 4.62%/yr vs 13.96%/yr for SIL. At a 0.36 correlation, their price movements are largely independent. AQWA charges 0.50%/yr vs 0.65%/yr for SIL.

Performance

AQWA vs. SIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Clean Water ETF (AQWA) and Global X Silver Miners ETF (SIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQWA achieves a -0.68% return, which is significantly lower than SIL's 4.75% return.

AQWA

• 1D: 0.06%
• 1M: -1.97%
• YTD: -0.68%
• 6M: -3.10%
• 1Y: 0.82%
• 3Y*: 9.10%
• 5Y*: 4.62%
• 10Y*: —

SIL

• 1D: -4.96%
• 1M: 0.68%
• YTD: 4.75%
• 6M: 15.66%
• 1Y: 91.23%
• 3Y*: 49.15%
• 5Y*: 13.96%
• 10Y*: 10.69%

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

AQWA vs. SIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AQWA Global X Clean Water ETF	-0.68%	13.15%	4.34%	20.13%	-19.89%	15.85%
SIL Global X Silver Miners ETF	4.75%	166.16%	14.62%	1.31%	-22.83%	-10.78%

Correlation

The correlation between AQWA and SIL is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 13, 2021	0.36

AQWA vs. SIL - Sectors Allocation Comparison

Sectors	AQWA	SIL
Industrials	56.9%	-
Utilities	34.8%	-
Consumer Defensive	2.9%	0.2%
Technology	2.0%	-
Consumer Cyclical	1.7%	-
Basic Materials	1.7%	99.8%
Communication Services	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

AQWA vs. SIL — Risk / Return Rank

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

AQWA

AQWA Risk / Return Rank: 9
AQWA Sharpe Ratio Rank: 9
AQWA Sortino Ratio Rank: 9
AQWA Omega Ratio Rank: 9
AQWA Calmar Ratio Rank: 9
AQWA Martin Ratio Rank: 9

SIL

SIL Risk / Return Rank: 48
SIL Sharpe Ratio Rank: 52
SIL Sortino Ratio Rank: 43
SIL Omega Ratio Rank: 46
SIL Calmar Ratio Rank: 55
SIL Martin Ratio Rank: 43

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. SIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Clean Water ETF (AQWA) and Global X Silver Miners ETF (SIL). 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	SIL	Difference
Sharpe ratio Return per unit of total volatility	0.06	1.83	-1.78
Sortino ratio Return per unit of downside risk	0.18	2.17	-1.99
Omega ratio Gain probability vs. loss probability	1.02	1.30	-0.28
Calmar ratio Return relative to maximum drawdown	0.07	2.79	-2.72
Martin ratio Return relative to average drawdown	0.17	7.14	-6.98
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. SIL - Sharpe Ratio Comparison

The current AQWA Sharpe Ratio is 0.06, which is lower than the SIL Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of AQWA and SIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AQWA	SIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.06	1.83	-1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.36	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.14	+0.19

Drawdowns

AQWA vs. SIL - Drawdown Comparison

The maximum AQWA drawdown since its inception was -29.44%, smaller than the maximum SIL drawdown of -82.99%. Use the drawdown chart below to compare losses from any high point for AQWA and SIL.

Drawdown Indicators

	AQWA	SIL	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-82.99%	+53.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-32.91%	+20.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.55%	-32.91%	+18.36%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-55.08%	+25.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-63.04%	—
Current Drawdown Current decline from peak	-10.78%	-25.87%	+15.09%
Average Drawdown Average peak-to-trough decline	-8.27%	-51.45%	+43.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	12.82%	-7.92%

Volatility

AQWA vs. SIL - Volatility Comparison

The current volatility for Global X Clean Water ETF (AQWA) is 3.94%, while Global X Silver Miners ETF (SIL) has a volatility of 17.66%. This indicates that AQWA experiences smaller price fluctuations and is considered to be less risky than SIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQWA	SIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	17.66%	-13.72%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	41.57%	-30.72%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	50.01%	-35.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	39.21%	-22.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	39.60%	-22.95%

AQWA vs. SIL - Expense Ratio Comparison

AQWA has a 0.50% expense ratio, which is lower than SIL's 0.65% expense ratio.

Dividends

AQWA vs. SIL - Dividend Comparison

AQWA's dividend yield for the trailing twelve months is around 1.48%, more than SIL's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQWA Global X Clean Water ETF	1.48%	1.47%	1.40%	1.53%	1.56%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SIL Global X Silver Miners ETF	1.13%	1.18%	2.40%	0.59%	0.48%	1.59%	1.92%	1.53%	1.21%	0.02%	3.34%	0.38%

Frequently Asked Questions

Can I hold both AQWA and SIL in my portfolio?

AQWA and SIL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AQWA or SIL?

SIL has higher volatility (17.66%) compared to AQWA (3.94%). In terms of maximum drawdown, AQWA dropped -29.44% vs SIL's -82.99%.

Which ETF is better, AQWA or SIL?

On 5-year performance, SIL leads with 13.96% vs 4.62% for AQWA. On fees, AQWA is cheaper at 0.50% per year. On volatility, AQWA has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AQWA or SIL?

Over the 5-year period, SIL has performed better with a 13.96% return vs 4.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AQWA or SIL?

AQWA is cheaper with a 0.50% expense ratio, compared with 0.65% for SIL.

Which ETF pays a higher dividend yield, AQWA or SIL?

AQWA has the higher dividend yield at 1.48%, compared with 1.13% for SIL.

What is the main difference between AQWA and SIL?

AQWA is categorized as Water Equities, while SIL is Silver. AQWA tracks Solactive Global Clean Water Industry Index, while SIL tracks Solactive Global Silver Miners Total Return Index. Their fees differ too: 0.50% for AQWA and 0.65% for SIL.

Which has better risk-adjusted returns?

SIL currently has the higher Sharpe Ratio (1.83 vs 0.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.