DH2O.L vs. G500.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) are both Global Equities funds - DH2O.L tracks the S&P Global Water Index (NET) (USD) while G500.L tracks the Invesco S&P 500 UCITS ETF (GBP Hdg). Both are passively managed. Over the past 5 years, DH2O.L returned 4.80%/yr vs 11.80%/yr for G500.L. A 0.70 correlation means they provide meaningful diversification when combined. DH2O.L charges 0.65%/yr vs 0.05%/yr for G500.L.
Performance
DH2O.L vs. G500.L - Performance Comparison
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Different Trading Currencies
DH2O.L is traded in USD, while G500.L is traded in GBp. To make them comparable, the G500.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 G500.L's 10.60% 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%
G500.L
- 1D
- 0.00%
- 1M
- 0.92%
- 6M
- 10.32%
- YTD
- 10.60%
- 1Y
- 22.54%
- 3Y*
- 21.04%
- 5Y*
- 11.80%
- 10Y*
- —
DH2O.L vs. G500.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 2.64% | 17.60% | 4.29% | 13.57% | -20.83% | 30.67% | 27.72% |
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg) | 10.60% | 26.32% | 22.89% | 31.47% | -28.53% | 27.78% | 32.88% |
Correlation
The correlation between DH2O.L and G500.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | 0.70 |
Over the past year, the correlation between DH2O.L and G500.L has dropped to 0.47 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
DH2O.L vs. G500.L — Risk / Return Rank
DH2O.L
G500.L
DH2O.L vs. G500.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 Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.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 | G500.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.27 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.82 | -1.16 |
| Martin ratioReturn relative to average drawdown | 1.53 | 6.85 | -5.32 |
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Drawdowns
DH2O.L vs. G500.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than G500.L's maximum drawdown of -39.54%. Use the drawdown chart below to compare losses from any high point for DH2O.L and G500.L.
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Drawdown Indicators
| DH2O.L | G500.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -39.54% | -17.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -12.56% | +2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -17.75% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -39.54% | +7.11% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | — | — |
Current DrawdownCurrent decline from peak | -5.23% | -0.10% | -5.13% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -8.08% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 3.34% | +1.24% |
Volatility
DH2O.L vs. G500.L - Volatility Comparison
iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a higher volatility of 4.04% compared to Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) at 3.57%. This indicates that DH2O.L's price experiences larger fluctuations and is considered to be riskier than G500.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 | G500.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 3.57% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 11.66% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 14.98% | -1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 20.37% | -3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 20.09% | -3.61% |
DH2O.L vs. G500.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than G500.L's 0.05% expense ratio.
Dividends
DH2O.L vs. G500.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.36%, while G500.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DH2O.L and G500.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, G500.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
G500.L is cheaper with a 0.05% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L tracks S&P Global Water Index (NET) (USD), while G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.65% for DH2O.L and 0.05% for G500.L.
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