AQWG.L vs. WATL.L

Last updated Jun 5, 2026

AQWG.L (Global X Clean Water UCITS ETF) and WATL.L (Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist) are both Water Equities funds tracking the S&P Global Water TR, from Global X and Amundi respectively. Both are passively managed. Over the past 3 years, AQWG.L returned 7.66%/yr vs 7.21%/yr for WATL.L. Their correlation of 0.86 suggests significant overlap in exposure. AQWG.L charges 0.50%/yr vs 0.60%/yr for WATL.L.

Performance

AQWG.L vs. WATL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Clean Water UCITS ETF (AQWG.L) and Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AQWG.L is traded in GBP, while WATL.L is traded in GBp. To make them comparable, the WATL.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, AQWG.L achieves a -0.99% return, which is significantly lower than WATL.L's -0.73% return.

AQWG.L

• 1D: -0.23%
• 1M: -1.39%
• YTD: -0.99%
• 6M: -3.24%
• 1Y: 2.35%
• 3Y*: 7.66%
• 5Y*: —
• 10Y*: —

WATL.L

• 1D: 0.11%
• 1M: -3.08%
• YTD: -0.73%
• 6M: -1.99%
• 1Y: 0.82%
• 3Y*: 7.21%
• 5Y*: 5.88%
• 10Y*: 9.23%

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

AQWG.L vs. WATL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AQWG.L Global X Clean Water UCITS ETF	-0.99%	5.17%	7.79%	18.26%	-10.22%	-2.19%
WATL.L Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist	-0.73%	6.48%	7.33%	16.26%	-11.97%	-1.24%

Correlation

The correlation between AQWG.L and WATL.L is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021	0.86

The correlation between AQWG.L and WATL.L has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

AQWG.L vs. WATL.L — Risk / Return Rank

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

AQWG.L

AQWG.L Risk / Return Rank: 11
AQWG.L Sharpe Ratio Rank: 12
AQWG.L Sortino Ratio Rank: 11
AQWG.L Omega Ratio Rank: 11
AQWG.L Calmar Ratio Rank: 12
AQWG.L Martin Ratio Rank: 12

WATL.L

WATL.L Risk / Return Rank: 9
WATL.L Sharpe Ratio Rank: 10
WATL.L Sortino Ratio Rank: 9
WATL.L Omega Ratio Rank: 9
WATL.L Calmar Ratio Rank: 9
WATL.L Martin Ratio Rank: 9

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.

AQWG.L vs. WATL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Clean Water UCITS ETF (AQWG.L) and Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.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.

	AQWG.L	WATL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.18	0.04	+0.14
Sortino ratio: Return per unit of downside risk	0.33	0.13	+0.20
Omega ratio: Gain probability vs. loss probability	1.04	1.02	+0.03
Calmar ratio: Return relative to maximum drawdown	0.21	0.04	+0.17
Martin ratio: Return relative to average drawdown	0.52	0.09	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQWG.L vs. WATL.L - Sharpe Ratio Comparison

The current AQWG.L Sharpe Ratio is 0.18, which is higher than the WATL.L Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of AQWG.L and WATL.L, 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

	AQWG.L	WATL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.18	0.04	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.93	-0.70

Drawdowns

AQWG.L vs. WATL.L - Drawdown Comparison

The maximum AQWG.L drawdown since its inception was -23.03%, smaller than the maximum WATL.L drawdown of -28.96%. Use the drawdown chart below to compare losses from any high point for AQWG.L and WATL.L.

Drawdown Indicators

	AQWG.L	WATL.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.03%	-28.96%	+5.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.23%	-11.38%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-17.73%	-13.45%	-4.28%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.96%	—
Current Drawdown Current decline from peak	-9.71%	-10.15%	+0.44%
Average Drawdown Average peak-to-trough decline	-7.35%	-4.68%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	4.47%	+0.02%

Volatility

AQWG.L vs. WATL.L - Volatility Comparison

Global X Clean Water UCITS ETF (AQWG.L) has a higher volatility of 3.98% compared to Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.L) at 3.51%. This indicates that AQWG.L's price experiences larger fluctuations and is considered to be riskier than WATL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQWG.L	WATL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.51%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	8.95%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	11.22%	+1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	14.12%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.00%	15.75%	-0.75%

AQWG.L vs. WATL.L - Expense Ratio Comparison

AQWG.L has a 0.50% expense ratio, which is lower than WATL.L's 0.60% expense ratio.

Dividends

AQWG.L vs. WATL.L - Dividend Comparison

AQWG.L has not paid dividends to shareholders, while WATL.L's dividend yield for the trailing twelve months is around 1.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQWG.L Global X Clean Water UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WATL.L Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist	1.09%	1.08%	0.77%	0.84%	0.42%	0.63%	1.22%	1.59%	2.06%	1.60%	2.21%	2.43%

Frequently Asked Questions

Can I hold both AQWG.L and WATL.L in my portfolio?

AQWG.L and WATL.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AQWG.L or WATL.L?

On fees, AQWG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AQWG.L or WATL.L?

AQWG.L is cheaper with a 0.50% expense ratio, compared with 0.60% for WATL.L.

What is the main difference between AQWG.L and WATL.L?

Both ETFs track S&P Global Water TR. They also come from different issuers: Global X and Amundi. Their fees differ too: 0.50% for AQWG.L and 0.60% for WATL.L.