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DH2O.L vs. NXTG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DH2O.L vs. NXTG.L

Last updated Jul 16, 2026
Documentation

DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and NXTG.L (First Trust Indxx NextG UCITS ETF) are both Global Equities funds - DH2O.L tracks the S&P Global Water Index (NET) (USD) while NXTG.L tracks the First Trust Indxx NextG UCITS ETF. Both are passively managed. Over the past 10 years, DH2O.L returned 9.56%/yr vs 7.11%/yr for NXTG.L. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

DH2O.L vs. NXTG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Water UCITS ETF USD (Dist) (DH2O.L) and First Trust Indxx NextG UCITS ETF (NXTG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

DH2O.L is traded in USD, while NXTG.L is traded in GBp. To make them comparable, the NXTG.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 2.64% return, which is significantly lower than NXTG.L's 38.59% return. Over the past 10 years, DH2O.L has outperformed NXTG.L with an annualized return of 9.56%, while NXTG.L has yielded a comparatively lower 7.11% 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%

NXTG.L

1D
-0.25%
1M
-5.49%
6M
35.96%
YTD
38.59%
1Y
56.79%
3Y*
17.63%
5Y*
9.05%
10Y*
7.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DH2O.L vs. NXTG.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
NXTG.L
First Trust Indxx NextG UCITS ETF		38.59%28.23%13.05%5.58%-32.47%14.83%7.36%12.68%-31.77%33.75%

Correlation

The correlation between DH2O.L and NXTG.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.50

Correlation (5Y)
Calculated over the trailing 5-year period

0.57

Correlation (10Y)
Calculated over the trailing 10-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2015

0.51

The correlation between DH2O.L and NXTG.L shifts across timeframes, from 0.37 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

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iShares Global Water UCITS ETF USD (Dist)

First Trust Indxx NextG UCITS ETF

Return for Risk

DH2O.L vs. NXTG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DH2O.L
DH2O.L Risk / Return Rank: 1818
Overall Rank
DH2O.L Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
DH2O.L Sortino Ratio Rank: 1717
Sortino Ratio Rank
DH2O.L Omega Ratio Rank: 1717
Omega Ratio Rank
DH2O.L Calmar Ratio Rank: 1919
Calmar Ratio Rank
DH2O.L Martin Ratio Rank: 1818
Martin Ratio Rank
NXTG.L
NXTG.L Risk / Return Rank: 5555
Overall Rank
NXTG.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
NXTG.L Sortino Ratio Rank: 4848
Sortino Ratio Rank
NXTG.L Omega Ratio Rank: 9292
Omega Ratio Rank
NXTG.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
NXTG.L Martin Ratio Rank: 3838
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DH2O.L vs. NXTG.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 First Trust Indxx NextG UCITS ETF (NXTG.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.LNXTG.LDifference
Sharpe ratioReturn per unit of total volatility
0.52
1.21

-0.69

Sortino ratioReturn per unit of downside risk
0.80
2.01

-1.21

Omega ratioGain probability vs. loss probability

1.10

1.46

-0.36

Calmar ratioReturn relative to maximum drawdown

0.66

2.29

-1.62

Martin ratioReturn relative to average drawdown

1.53

4.79

-3.26

DH2O.L vs. NXTG.L - Sharpe Ratio Comparison

The current DH2O.L Sharpe Ratio is 0.52, which is lower than the NXTG.L Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of DH2O.L and NXTG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DH2O.L vs. NXTG.L - Drawdown Comparison

The maximum DH2O.L drawdown since its inception was -56.90%, roughly equal to the maximum NXTG.L drawdown of -54.89%. Use the drawdown chart below to compare losses from any high point for DH2O.L and NXTG.L.

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Drawdown Indicators

DH2O.LNXTG.LDifference

Max Drawdown

Largest peak-to-trough decline

-56.90%

-54.89%

-2.01%

Max Drawdown (1Y)

Largest decline over 1 year

-10.53%

-24.85%

+14.32%

Max Drawdown (3Y)

Largest decline over 3 years

-16.08%

-32.80%

+16.72%

Max Drawdown (5Y)

Largest decline over 5 years

-32.43%

-45.46%

+13.03%

Max Drawdown (10Y)

Largest decline over 10 years

-35.56%

-54.89%

+19.33%

Current Drawdown

Current decline from peak

-5.23%

-10.07%

+4.84%

Average Drawdown

Average peak-to-trough decline

-10.39%

-26.87%

+16.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.58%

11.89%

-7.31%

Volatility

DH2O.L vs. NXTG.L - Volatility Comparison

The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.04%, while First Trust Indxx NextG UCITS ETF (NXTG.L) has a volatility of 6.74%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than NXTG.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.LNXTG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.04%

6.74%

-2.70%

Volatility (6M)

Calculated over the trailing 6-month period

10.79%

16.85%

-6.06%

Volatility (1Y)

Calculated over the trailing 1-year period

13.58%

47.00%

-33.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.74%

44.57%

-27.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.48%

34.76%

-18.28%

Dividends

DH2O.L vs. NXTG.L - Dividend Comparison

DH2O.L's dividend yield for the trailing twelve months is around 1.36%, while NXTG.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
NXTG.L
First Trust Indxx NextG UCITS ETF		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 NXTG.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DH2O.L tracks S&P Global Water Index (NET) (USD), while NXTG.L tracks First Trust Indxx NextG UCITS ETF. They also come from different issuers: iShares and First Trust.

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