DH2O.L vs. IWDA.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares - DH2O.L tracks the S&P Global Water Index (NET) (USD) while IWDA.L tracks the MSCI World Index (Net). Both are passively managed. Over the past 10 years, DH2O.L returned 9.56%/yr vs 12.99%/yr for IWDA.L. A 0.73 correlation means they provide meaningful diversification when combined. DH2O.L charges 0.65%/yr vs 0.20%/yr for IWDA.L.
Performance
DH2O.L vs. IWDA.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 IWDA.L's 10.17% return. Over the past 10 years, DH2O.L has underperformed IWDA.L with an annualized return of 9.56%, while IWDA.L has yielded a comparatively higher 12.99% 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%
IWDA.L
- 1D
- 0.19%
- 1M
- 0.21%
- 6M
- 9.01%
- YTD
- 10.17%
- 1Y
- 22.01%
- 3Y*
- 18.87%
- 5Y*
- 11.60%
- 10Y*
- 12.99%
DH2O.L vs. IWDA.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% |
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 10.17% | 21.03% | 19.11% | 24.27% | -18.11% | 22.19% | 16.06% | 27.13% | -9.01% | 22.75% |
Correlation
The correlation between DH2O.L and IWDA.L is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | 0.73 |
The correlation between DH2O.L and IWDA.L shifts across timeframes, from 0.56 (1 year) to 0.78 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
DH2O.L vs. IWDA.L — Risk / Return Rank
DH2O.L
IWDA.L
DH2O.L vs. IWDA.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 Core MSCI World UCITS ETF USD (Acc) (IWDA.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 | IWDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.32 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.64 | -1.97 |
| Martin ratioReturn relative to average drawdown | 1.53 | 10.75 | -9.23 |
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Drawdowns
DH2O.L vs. IWDA.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than IWDA.L's maximum drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for DH2O.L and IWDA.L.
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Drawdown Indicators
| DH2O.L | IWDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -34.11% | -22.79% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -8.31% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -16.94% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -25.88% | -6.55% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -34.11% | -1.45% |
Current DrawdownCurrent decline from peak | -5.23% | -0.12% | -5.11% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -4.39% | -6.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 2.04% | +2.54% |
Volatility
DH2O.L vs. IWDA.L - Volatility Comparison
iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a higher volatility of 4.04% compared to iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) at 2.72%. This indicates that DH2O.L's price experiences larger fluctuations and is considered to be riskier than IWDA.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 | IWDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 2.72% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 9.80% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 12.26% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 15.73% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 15.78% | +0.70% |
DH2O.L vs. IWDA.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than IWDA.L's 0.20% expense ratio.
Dividends
DH2O.L vs. IWDA.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.36%, while IWDA.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% |
IWDA.L iShares Core MSCI World 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 IWDA.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWDA.L is cheaper with a 0.20% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L tracks S&P Global Water Index (NET) (USD), while IWDA.L tracks MSCI World Index (Net). Their fees differ too: 0.65% for DH2O.L and 0.20% for IWDA.L.
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