DH2O.L vs. IH2O.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and IH2O.L (iShares Global Water UCITS ETF) are both exchange-traded funds - DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD), while IH2O.L is a Water Equities fund tracking the S&P Global Water TR. Both are passively managed. Over the past 10 years, DH2O.L returned 9.79%/yr vs 9.83%/yr for IH2O.L. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.
Performance
DH2O.L vs. IH2O.L - Performance Comparison
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Different Trading Currencies
DH2O.L is traded in USD, while IH2O.L is traded in GBp. To make them comparable, the IH2O.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with DH2O.L having a 4.37% return and IH2O.L slightly lower at 4.35%. Both investments have delivered pretty close results over the past 10 years, with DH2O.L having a 9.79% annualized return and IH2O.L not far ahead at 9.83%.
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%
IH2O.L
- 1D
- 0.34%
- 1M
- 5.01%
- 6M
- 1.29%
- YTD
- 4.35%
- 1Y
- 8.35%
- 3Y*
- 9.48%
- 5Y*
- 5.22%
- 10Y*
- 9.83%
DH2O.L vs. IH2O.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 4.37% | 17.60% | 4.29% | 13.57% | -20.83% | 30.67% | 15.22% | 33.60% | -10.59% | 27.00% |
IH2O.L iShares Global Water UCITS ETF | 4.35% | 18.03% | 4.26% | 12.99% | -20.80% | 31.05% | 14.70% | 34.62% | -10.76% | 26.68% |
Correlation
The correlation between DH2O.L and IH2O.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2007 | 0.84 |
The correlation between DH2O.L and IH2O.L has been stable across timeframes, ranging from 0.81 to 0.91 - a consistent structural relationship.
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Return for Risk
DH2O.L vs. IH2O.L — Risk / Return Rank
DH2O.L
IH2O.L
DH2O.L vs. IH2O.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 Global Water UCITS ETF (IH2O.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 | IH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.78 | -0.06 |
| Martin ratioReturn relative to average drawdown | 1.66 | 1.74 | -0.08 |
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Drawdowns
DH2O.L vs. IH2O.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, smaller than the maximum IH2O.L drawdown of -77.04%. Use the drawdown chart below to compare losses from any high point for DH2O.L and IH2O.L.
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Drawdown Indicators
| DH2O.L | IH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -77.04% | +20.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -10.67% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -16.25% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -32.45% | +0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -34.94% | -0.62% |
Current DrawdownCurrent decline from peak | -3.63% | -3.75% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -30.53% | +20.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 4.79% | -0.21% |
Volatility
DH2O.L vs. IH2O.L - Volatility Comparison
iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a higher volatility of 4.28% compared to iShares Global Water UCITS ETF (IH2O.L) at 4.03%. This indicates that DH2O.L's price experiences larger fluctuations and is considered to be riskier than IH2O.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 | IH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 4.03% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 11.16% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 13.67% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 16.52% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 16.48% | 0.00% |
DH2O.L vs. IH2O.L - Expense Ratio Comparison
Both DH2O.L and IH2O.L have an expense ratio of 0.65%.
Dividends
DH2O.L vs. IH2O.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.34%, which matches IH2O.L's 1.35% yield.
| 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% |
IH2O.L iShares Global Water UCITS ETF | 1.35% | 1.35% | 1.05% | 1.21% | 1.11% | 1.67% | 1.00% | 1.43% | 1.77% | 1.52% | 1.62% | 1.61% |
Frequently Asked Questions
DH2O.L and IH2O.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DH2O.L and IH2O.L have the same expense ratio: 0.65% per year.
DH2O.L is categorized as Global Equities, while IH2O.L is Water Equities. DH2O.L tracks S&P Global Water Index (NET) (USD), while IH2O.L tracks S&P Global Water TR.
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