DH2O.L vs. CNDX.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD), while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, DH2O.L returned 9.56%/yr vs 20.97%/yr for CNDX.L. A 0.63 correlation means they provide meaningful diversification when combined. DH2O.L charges 0.65%/yr vs 0.33%/yr for CNDX.L.
Performance
DH2O.L vs. CNDX.L - Performance Comparison
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Returns By Period
In the year-to-date period, DH2O.L achieves a 2.64% return, which is significantly lower than CNDX.L's 15.91% return. Over the past 10 years, DH2O.L has underperformed CNDX.L with an annualized return of 9.56%, while CNDX.L has yielded a comparatively higher 20.97% annualized return.
DH2O.L
- 1D
- -0.07%
- 1M
- 2.85%
- 6M
- 0.83%
- YTD
- 2.64%
- 1Y
- 6.10%
- 3Y*
- 8.88%
- 5Y*
- 4.80%
- 10Y*
- 9.56%
CNDX.L
- 1D
- -0.67%
- 1M
- -3.48%
- 6M
- 16.01%
- YTD
- 15.91%
- 1Y
- 28.40%
- 3Y*
- 23.77%
- 5Y*
- 15.27%
- 10Y*
- 20.97%
DH2O.L vs. CNDX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 2.64% | 17.60% | 4.29% | 13.57% | -20.83% | 30.67% | 15.22% | 33.60% | -10.59% | 27.00% |
CNDX.L iShares NASDAQ 100 UCITS ETF | 15.91% | 19.75% | 26.42% | 56.22% | -33.49% | 27.92% | 48.25% | 37.96% | -1.08% | 31.91% |
Correlation
The correlation between DH2O.L and CNDX.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2010 | 0.63 |
Over the past year, the correlation between DH2O.L and CNDX.L has dropped to 0.35 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
DH2O.L vs. CNDX.L — Risk / Return Rank
DH2O.L
CNDX.L
DH2O.L vs. CNDX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) and iShares NASDAQ 100 UCITS ETF (CNDX.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.
| DH2O.L | CNDX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.29 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.57 | -1.91 |
| Martin ratioReturn relative to average drawdown | 1.53 | 8.61 | -7.09 |
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Drawdowns
DH2O.L vs. CNDX.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than CNDX.L's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for DH2O.L and CNDX.L.
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Drawdown Indicators
| DH2O.L | CNDX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -35.21% | -21.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -11.00% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -22.44% | +6.36% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -35.21% | +2.78% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -35.21% | -0.35% |
Current DrawdownCurrent decline from peak | -5.23% | -3.87% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -5.12% | -5.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 3.29% | +1.29% |
Volatility
DH2O.L vs. CNDX.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.04%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 5.89%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DH2O.L | CNDX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 5.89% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 13.78% | -2.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 17.32% | -3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 21.15% | -4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 20.13% | -3.65% |
DH2O.L vs. CNDX.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.
Dividends
DH2O.L vs. CNDX.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.36%, while CNDX.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNDX.L iShares NASDAQ 100 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% |
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 1.36% | 1.33% | 1.06% | 1.18% | 1.09% | 1.66% | 0.94% | 1.39% | 1.80% | 1.46% | 1.76% | 1.65% |
Frequently Asked Questions
DH2O.L and CNDX.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNDX.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNDX.L is cheaper with a 0.33% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L is categorized as Global Equities, while CNDX.L is Nasdaq-100. DH2O.L tracks S&P Global Water Index (NET) (USD), while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.65% for DH2O.L and 0.33% for CNDX.L.
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