DH2O.L vs. SBUY.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and SBUY.L (Invesco Global Buyback Achievers UCITS ETF) are both Global Equities funds - DH2O.L tracks the S&P Global Water Index (NET) (USD) while SBUY.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, DH2O.L returned 9.79%/yr vs 12.51%/yr for SBUY.L. A 0.70 correlation means they provide meaningful diversification when combined. DH2O.L charges 0.65%/yr vs 0.39%/yr for SBUY.L.
Performance
DH2O.L vs. SBUY.L - Performance Comparison
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Different Trading Currencies
DH2O.L is traded in USD, while SBUY.L is traded in GBp. To make them comparable, the SBUY.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 SBUY.L's 8.98% return. Over the past 10 years, DH2O.L has underperformed SBUY.L with an annualized return of 9.79%, while SBUY.L has yielded a comparatively higher 12.51% 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%
SBUY.L
- 1D
- -0.29%
- 1M
- 2.67%
- 6M
- 6.70%
- YTD
- 8.98%
- 1Y
- 22.25%
- 3Y*
- 19.94%
- 5Y*
- 10.68%
- 10Y*
- 12.51%
DH2O.L vs. SBUY.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% |
SBUY.L Invesco Global Buyback Achievers UCITS ETF | 8.98% | 30.78% | 12.73% | 15.23% | -11.50% | 20.26% | 11.75% | 30.39% | -14.45% | 20.88% |
Correlation
The correlation between DH2O.L and SBUY.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2014 | 0.70 |
The correlation between DH2O.L and SBUY.L shifts across timeframes, from 0.51 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DH2O.L vs. SBUY.L — Risk / Return Rank
DH2O.L
SBUY.L
DH2O.L vs. SBUY.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 Invesco Global Buyback Achievers UCITS ETF (SBUY.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 | SBUY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.34 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 3.14 | -2.42 |
| Martin ratioReturn relative to average drawdown | 1.66 | 10.55 | -8.89 |
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Drawdowns
DH2O.L vs. SBUY.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, which is greater than SBUY.L's maximum drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for DH2O.L and SBUY.L.
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Drawdown Indicators
| DH2O.L | SBUY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -42.16% | -14.74% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -7.06% | -3.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -16.45% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -27.07% | -5.36% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -38.71% | +3.15% |
Current DrawdownCurrent decline from peak | -3.63% | -0.29% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -13.21% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 2.10% | +2.48% |
Volatility
DH2O.L vs. SBUY.L - Volatility Comparison
iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a higher volatility of 4.28% compared to Invesco Global Buyback Achievers UCITS ETF (SBUY.L) at 2.31%. This indicates that DH2O.L's price experiences larger fluctuations and is considered to be riskier than SBUY.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 | SBUY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 2.31% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 8.46% | +2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 11.36% | +2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 15.78% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 16.57% | -0.09% |
DH2O.L vs. SBUY.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than SBUY.L's 0.39% expense ratio.
Dividends
DH2O.L vs. SBUY.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.34%, less than SBUY.L's 1.69% 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% |
SBUY.L Invesco Global Buyback Achievers UCITS ETF | 1.69% | 1.86% | 1.80% | 1.73% | 1.91% | 1.20% | 1.62% | 1.90% | 1.31% | 1.16% | 1.60% | 1.27% |
Frequently Asked Questions
DH2O.L and SBUY.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SBUY.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SBUY.L is cheaper with a 0.39% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L tracks S&P Global Water Index (NET) (USD), while SBUY.L tracks MSCI ACWI NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.65% for DH2O.L and 0.39% for SBUY.L.
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