DH2O.L vs. CSP1.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD), while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, DH2O.L returned 9.56%/yr vs 15.00%/yr for CSP1.L. A 0.67 correlation means they provide meaningful diversification when combined. DH2O.L charges 0.65%/yr vs 0.07%/yr for CSP1.L.
Performance
DH2O.L vs. CSP1.L - Performance Comparison
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Different Trading Currencies
DH2O.L is traded in USD, while CSP1.L is traded in GBp. To make them comparable, the CSP1.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, DH2O.L achieves a 2.64% return, which is significantly lower than CSP1.L's 10.64% return. Over the past 10 years, DH2O.L has underperformed CSP1.L with an annualized return of 9.56%, while CSP1.L has yielded a comparatively higher 15.00% 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%
CSP1.L
- 1D
- 0.64%
- 1M
- 0.52%
- 6M
- 10.36%
- YTD
- 10.64%
- 1Y
- 22.24%
- 3Y*
- 20.23%
- 5Y*
- 13.16%
- 10Y*
- 15.00%
DH2O.L vs. CSP1.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% |
CSP1.L iShares Core S&P 500 UCITS ETF | 10.64% | 17.63% | 25.22% | 26.11% | -18.77% | 29.88% | 17.14% | 31.49% | -5.65% | 21.38% |
Correlation
The correlation between DH2O.L and CSP1.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 19, 2010 | 0.67 |
Over the past year, the correlation between DH2O.L and CSP1.L has dropped to 0.40 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
DH2O.L vs. CSP1.L — Risk / Return Rank
DH2O.L
CSP1.L
DH2O.L vs. CSP1.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 Core S&P 500 UCITS ETF (CSP1.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 | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.33 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.55 | -1.89 |
| Martin ratioReturn relative to average drawdown | 1.53 | 10.42 | -8.89 |
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Drawdowns
DH2O.L vs. CSP1.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than CSP1.L's maximum drawdown of -33.51%. Use the drawdown chart below to compare losses from any high point for DH2O.L and CSP1.L.
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Drawdown Indicators
| DH2O.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -33.51% | -23.39% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -8.68% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -19.33% | +3.25% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -25.16% | -7.27% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -33.51% | -2.05% |
Current DrawdownCurrent decline from peak | -5.23% | -0.22% | -5.01% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -4.07% | -6.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 2.13% | +2.45% |
Volatility
DH2O.L vs. CSP1.L - Volatility Comparison
iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a higher volatility of 4.04% compared to iShares Core S&P 500 UCITS ETF (CSP1.L) at 3.12%. This indicates that DH2O.L's price experiences larger fluctuations and is considered to be riskier than CSP1.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 | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 3.12% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 8.66% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 11.64% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 20.99% | -4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 18.84% | -2.36% |
DH2O.L vs. CSP1.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than CSP1.L's 0.07% expense ratio.
Dividends
DH2O.L vs. CSP1.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.36%, while CSP1.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSP1.L iShares Core S&P 500 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 CSP1.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSP1.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSP1.L is cheaper with a 0.07% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L is categorized as Global Equities, while CSP1.L is S&P 500. DH2O.L tracks S&P Global Water Index (NET) (USD), while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.65% for DH2O.L and 0.07% for CSP1.L.
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