DH2O.L vs. INFR.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and INFR.L (iShares Global Infrastructure UCITS ETF USD (Dist)) are both exchange-traded funds - DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD), while INFR.L is a Utilities Equities fund tracking the FTSE Global Core Infrastructure Index. Both are passively managed. Over the past 10 years, DH2O.L returned 9.79%/yr vs 7.31%/yr for INFR.L. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.
Performance
DH2O.L vs. INFR.L - Performance Comparison
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Different Trading Currencies
DH2O.L is traded in USD, while INFR.L is traded in GBp. To make them comparable, the INFR.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, DH2O.L achieves a 4.37% return, which is significantly lower than INFR.L's 14.10% return. Over the past 10 years, DH2O.L has outperformed INFR.L with an annualized return of 9.79%, while INFR.L has yielded a comparatively lower 7.31% annualized 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%
INFR.L
- 1D
- 0.76%
- 1M
- 4.58%
- 6M
- 12.86%
- YTD
- 14.10%
- 1Y
- 19.11%
- 3Y*
- 12.68%
- 5Y*
- 6.90%
- 10Y*
- 7.31%
DH2O.L vs. INFR.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% |
INFR.L iShares Global Infrastructure UCITS ETF USD (Dist) | 14.10% | 13.07% | 8.91% | -0.54% | -6.01% | 17.54% | -2.37% | 24.94% | -2.25% | 14.54% |
Correlation
The correlation between DH2O.L and INFR.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2007 | 0.63 |
Over the past year, the correlation between DH2O.L and INFR.L has dropped to 0.33 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
DH2O.L vs. INFR.L — Risk / Return Rank
DH2O.L
INFR.L
DH2O.L vs. INFR.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 Infrastructure UCITS ETF USD (Dist) (INFR.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 | INFR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.32 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 3.71 | -2.99 |
| Martin ratioReturn relative to average drawdown | 1.66 | 9.79 | -8.12 |
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Drawdowns
DH2O.L vs. INFR.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, smaller than the maximum INFR.L drawdown of -72.74%. Use the drawdown chart below to compare losses from any high point for DH2O.L and INFR.L.
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Drawdown Indicators
| DH2O.L | INFR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -72.74% | +15.84% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -5.13% | -5.40% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -14.77% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -22.49% | -9.94% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -34.60% | -0.96% |
Current DrawdownCurrent decline from peak | -3.63% | 0.00% | -3.63% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -40.01% | +29.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 1.95% | +2.63% |
Volatility
DH2O.L vs. INFR.L - Volatility Comparison
iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a higher volatility of 4.28% compared to iShares Global Infrastructure UCITS ETF USD (Dist) (INFR.L) at 2.60%. This indicates that DH2O.L's price experiences larger fluctuations and is considered to be riskier than INFR.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 | INFR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 2.60% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 8.99% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 10.73% | +2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 13.71% | +3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 14.75% | +1.73% |
DH2O.L vs. INFR.L - Expense Ratio Comparison
Both DH2O.L and INFR.L have an expense ratio of 0.65%.
Dividends
DH2O.L vs. INFR.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.34%, less than INFR.L's 2.01% 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% |
INFR.L iShares Global Infrastructure UCITS ETF USD (Dist) | 2.01% | 2.25% | 2.32% | 2.43% | 2.05% | 1.89% | 2.21% | 2.15% | 2.27% | 2.72% | 2.57% | 3.09% |
Frequently Asked Questions
DH2O.L and INFR.L have a correlation of 0.33, 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 INFR.L have the same expense ratio: 0.65% per year.
DH2O.L is categorized as Global Equities, while INFR.L is Utilities Equities. DH2O.L tracks S&P Global Water Index (NET) (USD), while INFR.L tracks FTSE Global Core Infrastructure Index.
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