DH2O.L vs. WNRG.L
DH2O.L (iShares Global Water UCITS ETF USD (Dist)) and WNRG.L (State Street SPDR MSCI World Energy UCITS ETF USD (Acc)) are both Global Equities funds - DH2O.L tracks the S&P Global Water Index (NET) (USD) while WNRG.L tracks the MSCI World Energy 35/20 Capped Index. Both are passively managed. Over the past 10 years, DH2O.L returned 9.79%/yr vs 8.80%/yr for WNRG.L. At a 0.50 correlation, their price movements are largely independent. DH2O.L charges 0.65%/yr vs 0.30%/yr for WNRG.L.
Performance
DH2O.L vs. WNRG.L - Performance Comparison
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Returns By Period
In the year-to-date period, DH2O.L achieves a 4.37% return, which is significantly lower than WNRG.L's 27.75% return. Over the past 10 years, DH2O.L has outperformed WNRG.L with an annualized return of 9.79%, while WNRG.L has yielded a comparatively lower 8.80% 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%
WNRG.L
- 1D
- 0.93%
- 1M
- 4.49%
- 6M
- 21.77%
- YTD
- 27.75%
- 1Y
- 37.39%
- 3Y*
- 16.24%
- 5Y*
- 20.55%
- 10Y*
- 8.80%
DH2O.L vs. WNRG.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% |
WNRG.L State Street SPDR MSCI World Energy UCITS ETF USD (Acc) | 27.75% | 14.83% | 2.07% | 3.52% | 46.61% | 38.74% | -30.35% | 9.89% | -14.99% | 4.80% |
Correlation
The correlation between DH2O.L and WNRG.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2009 | 0.50 |
The correlation between DH2O.L and WNRG.L shifts across timeframes, from -0.13 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DH2O.L vs. WNRG.L — Risk / Return Rank
DH2O.L
WNRG.L
DH2O.L vs. WNRG.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 State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.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 | WNRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.31 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 2.33 | -1.61 |
| Martin ratioReturn relative to average drawdown | 1.66 | 6.70 | -5.03 |
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Drawdowns
DH2O.L vs. WNRG.L - Drawdown Comparison
The maximum DH2O.L drawdown since its inception was -56.90%, smaller than the maximum WNRG.L drawdown of -68.72%. Use the drawdown chart below to compare losses from any high point for DH2O.L and WNRG.L.
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Drawdown Indicators
| DH2O.L | WNRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -68.72% | +11.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -15.98% | +5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -18.94% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -26.55% | -5.88% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -63.92% | +28.36% |
Current DrawdownCurrent decline from peak | -3.63% | -8.18% | +4.55% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -17.54% | +7.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 5.57% | -0.99% |
Volatility
DH2O.L vs. WNRG.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF USD (Dist) (DH2O.L) is 4.28%, while State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.L) has a volatility of 5.93%. This indicates that DH2O.L experiences smaller price fluctuations and is considered to be less risky than WNRG.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 | WNRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 5.93% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 17.83% | -6.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 20.62% | -6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 24.34% | -7.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 33.35% | -16.87% |
DH2O.L vs. WNRG.L - Expense Ratio Comparison
DH2O.L has a 0.65% expense ratio, which is higher than WNRG.L's 0.30% expense ratio.
Dividends
DH2O.L vs. WNRG.L - Dividend Comparison
DH2O.L's dividend yield for the trailing twelve months is around 1.34%, while WNRG.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) | 1.34% | 1.33% | 1.06% | 1.18% | 1.09% | 1.66% | 0.94% | 1.39% | 1.80% | 1.46% | 1.76% | 1.65% |
WNRG.L State Street SPDR MSCI World Energy 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 WNRG.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WNRG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WNRG.L is cheaper with a 0.30% expense ratio, compared with 0.65% for DH2O.L.
DH2O.L tracks S&P Global Water Index (NET) (USD), while WNRG.L tracks MSCI World Energy 35/20 Capped Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.65% for DH2O.L and 0.30% for WNRG.L.
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