DH2O.L vs. IGLN.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD), while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, DH2O.L returned 9.56%/yr vs 11.58%/yr for IGLN.L. At a 0.16 correlation, their price movements are largely independent. DH2O.L charges 0.65%/yr vs 0.12%/yr for IGLN.L.
Performance
DH2O.L vs. IGLN.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 higher than IGLN.L's -6.13% return. Over the past 10 years, DH2O.L has underperformed IGLN.L with an annualized return of 9.56%, while IGLN.L has yielded a comparatively higher 11.58% 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%
IGLN.L
- 1D
- -0.82%
- 1M
- -7.02%
- 6M
- -12.44%
- YTD
- -6.13%
- 1Y
- 21.47%
- 3Y*
- 27.22%
- 5Y*
- 17.30%
- 10Y*
- 11.58%
DH2O.L vs. IGLN.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% |
IGLN.L iShares Physical Gold ETC | -6.13% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
Correlation
The correlation between DH2O.L and IGLN.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.16 |
The correlation between DH2O.L and IGLN.L shifts across timeframes, from 0.16 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DH2O.L vs. IGLN.L — Risk / Return Rank
DH2O.L
IGLN.L
DH2O.L vs. IGLN.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 Physical Gold ETC (IGLN.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 | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.16 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 0.88 | -0.21 |
| Martin ratioReturn relative to average drawdown | 1.53 | 2.15 | -0.62 |
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Drawdowns
DH2O.L vs. IGLN.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than IGLN.L's maximum drawdown of -45.25%. Use the drawdown chart below to compare losses from any high point for DH2O.L and IGLN.L.
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Drawdown Indicators
| DH2O.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -45.25% | -11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -24.39% | +13.86% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -24.39% | +8.31% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -24.39% | -8.04% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -24.39% | -11.17% |
Current DrawdownCurrent decline from peak | -5.23% | -23.66% | +18.43% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -19.73% | +9.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 9.97% | -5.39% |
Volatility
DH2O.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.04%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.59%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than IGLN.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 | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 7.59% | -3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 23.02% | -12.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 26.39% | -12.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 17.79% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 15.74% | +0.74% |
DH2O.L vs. IGLN.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than IGLN.L's 0.12% expense ratio.
Dividends
DH2O.L vs. IGLN.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.36%, while IGLN.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% |
IGLN.L iShares Physical Gold ETC | 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 IGLN.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L is categorized as Global Equities, while IGLN.L is Gold. DH2O.L tracks S&P Global Water Index (NET) (USD), while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.65% for DH2O.L and 0.12% for IGLN.L.
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