DH2O.L vs. HKOD.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - DH2O.L tracks the S&P Global Water Index (NET) (USD) while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 10 years, DH2O.L returned 9.56%/yr vs 14.34%/yr for HKOD.L. A 0.57 correlation means they provide meaningful diversification when combined. DH2O.L charges 0.65%/yr vs 0.50%/yr for HKOD.L.
Performance
DH2O.L vs. HKOD.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 HKOD.L's 70.37% return. Over the past 10 years, DH2O.L has underperformed HKOD.L with an annualized return of 9.56%, while HKOD.L has yielded a comparatively higher 14.34% 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%
HKOD.L
- 1D
- -1.67%
- 1M
- -20.60%
- 6M
- 52.67%
- YTD
- 70.37%
- 1Y
- 138.83%
- 3Y*
- 37.85%
- 5Y*
- 14.71%
- 10Y*
- 14.34%
DH2O.L vs. HKOD.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% |
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 70.37% | 99.54% | -22.90% | 19.95% | -28.44% | -8.49% | 45.08% | 10.64% | -21.06% | 45.79% |
Correlation
The correlation between DH2O.L and HKOD.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2011 | 0.57 |
Over the past year, the correlation between DH2O.L and HKOD.L has dropped to 0.31 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
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Return for Risk
DH2O.L vs. HKOD.L — Risk / Return Rank
DH2O.L
HKOD.L
DH2O.L vs. HKOD.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 HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.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 | HKOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.45 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 5.77 | -5.11 |
| Martin ratioReturn relative to average drawdown | 1.53 | 17.93 | -16.40 |
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Drawdowns
DH2O.L vs. HKOD.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than HKOD.L's maximum drawdown of -50.54%. Use the drawdown chart below to compare losses from any high point for DH2O.L and HKOD.L.
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Drawdown Indicators
| DH2O.L | HKOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -50.54% | -6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -24.00% | +13.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -29.48% | +13.40% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -47.65% | +15.22% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -50.54% | +14.98% |
Current DrawdownCurrent decline from peak | -5.23% | -24.00% | +18.77% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -18.79% | +8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 7.75% | -3.17% |
Volatility
DH2O.L vs. HKOD.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.04%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.20%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than HKOD.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 | HKOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 20.20% | -16.16% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 41.23% | -30.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 45.10% | -31.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 29.74% | -13.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 26.96% | -10.48% |
DH2O.L vs. HKOD.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than HKOD.L's 0.50% expense ratio.
Dividends
DH2O.L vs. HKOD.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.36%, more than HKOD.L's 0.43% yield.
| 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% |
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 0.43% | 0.68% | 1.54% | 1.08% | 0.72% | 0.61% | 0.02% | 0.29% | 0.56% | 0.10% | 0.00% | 0.00% |
Frequently Asked Questions
DH2O.L and HKOD.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HKOD.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HKOD.L is cheaper with a 0.50% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L tracks S&P Global Water Index (NET) (USD), while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.65% for DH2O.L and 0.50% for HKOD.L.
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