DH2O.L vs. HYGN.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and HYGN.L (Global X Hydrogen 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 HYGN.L is a Alternative Energy Equities fund tracking the Solactive Global Hydrogen v2 Index. Both are passively managed. Over the past 3 years, DH2O.L returned 9.31%/yr vs -3.55%/yr for HYGN.L. At a 0.48 correlation, their price movements are largely independent. DH2O.L charges 0.65%/yr vs 0.50%/yr for HYGN.L.
Performance
DH2O.L vs. HYGN.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 HYGN.L's 31.14% 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%
HYGN.L
- 1D
- -2.88%
- 1M
- -28.95%
- 6M
- 6.89%
- YTD
- 31.14%
- 1Y
- 75.72%
- 3Y*
- -3.55%
- 5Y*
- —
- 10Y*
- —
DH2O.L vs. HYGN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 4.37% | 17.60% | 4.29% | 13.57% | -9.23% |
HYGN.L Global X Hydrogen UCITS ETF USD (Acc) | 31.14% | 54.56% | -33.06% | -34.76% | -26.91% |
Correlation
The correlation between DH2O.L and HYGN.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022 | 0.48 |
Over the past year, the correlation between DH2O.L and HYGN.L has dropped to 0.24 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
DH2O.L vs. HYGN.L — Risk / Return Rank
DH2O.L
HYGN.L
DH2O.L vs. HYGN.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 Global X Hydrogen UCITS ETF USD (Acc) (HYGN.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 | HYGN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.23 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 1.62 | -0.90 |
| Martin ratioReturn relative to average drawdown | 1.66 | 4.54 | -2.88 |
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Drawdowns
DH2O.L vs. HYGN.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, smaller than the maximum HYGN.L drawdown of -83.04%. Use the drawdown chart below to compare losses from any high point for DH2O.L and HYGN.L.
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Drawdown Indicators
| DH2O.L | HYGN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -83.04% | +26.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -46.52% | +35.99% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -69.01% | +52.93% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | — | — |
Current DrawdownCurrent decline from peak | -3.63% | -51.27% | +47.64% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -54.98% | +44.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 16.63% | -12.05% |
Volatility
DH2O.L vs. HYGN.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.28%, while Global X Hydrogen UCITS ETF USD (Acc) (HYGN.L) has a volatility of 19.00%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than HYGN.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 | HYGN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 19.00% | -14.72% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 41.23% | -30.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 57.09% | -43.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 51.78% | -35.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 51.78% | -35.30% |
DH2O.L vs. HYGN.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than HYGN.L's 0.50% expense ratio.
Dividends
DH2O.L vs. HYGN.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.34%, while HYGN.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% |
HYGN.L Global X Hydrogen 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 HYGN.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGN.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGN.L is cheaper with a 0.50% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L is categorized as Global Equities, while HYGN.L is Alternative Energy Equities. DH2O.L tracks S&P Global Water Index (NET) (USD), while HYGN.L tracks Solactive Global Hydrogen v2 Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.65% for DH2O.L and 0.50% for HYGN.L.
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