DH2O.L vs. GLUG.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and GLUG.L (L&G Clean Water UCITS ETF USD (Acc)) are both exchange-traded funds - DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD), while GLUG.L is a Water Equities fund tracking the Solactive Clean Water Index NTR. Both are passively managed. Over the past 5 years, DH2O.L returned 5.15%/yr vs 6.20%/yr for GLUG.L. Their correlation of 0.88 suggests significant overlap in exposure. DH2O.L charges 0.65%/yr vs 0.49%/yr for GLUG.L.
Performance
DH2O.L vs. GLUG.L - Performance Comparison
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Returns By Period
In the year-to-date period, DH2O.L achieves a 4.37% return, which is significantly lower than GLUG.L's 5.95% return.
DH2O.L
- 1D
- 0.08%
- 1M
- 4.00%
- 6M
- 1.18%
- YTD
- 4.37%
- 1Y
- 7.63%
- 3Y*
- 9.31%
- 5Y*
- 5.15%
- 10Y*
- 9.79%
GLUG.L
- 1D
- -0.09%
- 1M
- 1.36%
- 6M
- 0.23%
- YTD
- 5.95%
- 1Y
- 9.33%
- 3Y*
- 11.06%
- 5Y*
- 6.20%
- 10Y*
- —
DH2O.L vs. GLUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 4.37% | 17.60% | 4.29% | 13.57% | -20.83% | 30.67% | 15.22% | 11.28% |
GLUG.L L&G Clean Water UCITS ETF USD (Acc) | 5.95% | 15.76% | 4.02% | 21.24% | -17.39% | 26.15% | 18.97% | 13.32% |
Correlation
The correlation between DH2O.L and GLUG.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.88 |
The correlation between DH2O.L and GLUG.L has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
DH2O.L vs. GLUG.L — Risk / Return Rank
DH2O.L
GLUG.L
DH2O.L vs. GLUG.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 L&G Clean Water UCITS ETF USD (Acc) (GLUG.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 | GLUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.73 | -0.01 |
| Martin ratioReturn relative to average drawdown | 1.66 | 1.70 | -0.04 |
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Drawdowns
DH2O.L vs. GLUG.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than GLUG.L's maximum drawdown of -35.67%. Use the drawdown chart below to compare losses from any high point for DH2O.L and GLUG.L.
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Drawdown Indicators
| DH2O.L | GLUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -35.67% | -21.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -12.66% | +2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -16.61% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -30.10% | -2.33% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | — | — |
Current DrawdownCurrent decline from peak | -3.63% | -5.19% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -7.43% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 5.47% | -0.89% |
Volatility
DH2O.L vs. GLUG.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.28%, while L&G Clean Water UCITS ETF USD (Acc) (GLUG.L) has a volatility of 4.96%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than GLUG.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 | GLUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 4.96% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 13.11% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 15.94% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 17.65% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 19.39% | -2.91% |
DH2O.L vs. GLUG.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than GLUG.L's 0.49% expense ratio.
Dividends
DH2O.L vs. GLUG.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.34%, while GLUG.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) | 1.34% | 1.33% | 1.06% | 1.18% | 1.09% | 1.66% | 0.94% | 1.39% | 1.80% | 1.46% | 1.76% | 1.65% |
GLUG.L L&G Clean Water UCITS ETF USD (Acc) | 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 GLUG.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLUG.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLUG.L is cheaper with a 0.49% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L is categorized as Global Equities, while GLUG.L is Water Equities. DH2O.L tracks S&P Global Water Index (NET) (USD), while GLUG.L tracks Solactive Clean Water Index NTR. They also come from different issuers: iShares and L&G. Their fees differ too: 0.65% for DH2O.L and 0.49% for GLUG.L.
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