EVX vs. AQWA
EVX (VanEck Vectors Environmental Services ETF) and AQWA (Global X Clean Water ETF) are both exchange-traded funds - EVX is a Industrials Equities fund tracking the NYSE Arca Environmental Services Index, while AQWA is a Water Equities fund tracking the Solactive Global Clean Water Industry Index. Both are passively managed. Over the past 5 years, EVX returned 7.59%/yr vs 5.21%/yr for AQWA. A 0.75 correlation means they provide meaningful diversification when combined. EVX charges 0.55%/yr vs 0.50%/yr for AQWA.
Performance
EVX vs. AQWA - Performance Comparison
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Returns By Period
In the year-to-date period, EVX achieves a 4.15% return, which is significantly higher than AQWA's 0.45% return.
EVX
- 1D
- 0.09%
- 1M
- 1.74%
- YTD
- 4.15%
- 6M
- 2.75%
- 1Y
- 4.73%
- 3Y*
- 9.73%
- 5Y*
- 7.59%
- 10Y*
- 12.19%
AQWA
- 1D
- -0.81%
- 1M
- 0.95%
- YTD
- 0.45%
- 6M
- -0.87%
- 1Y
- 1.37%
- 3Y*
- 9.09%
- 5Y*
- 5.21%
- 10Y*
- —
EVX vs. AQWA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EVX VanEck Vectors Environmental Services ETF | 4.15% | 11.72% | 12.99% | 12.97% | -10.58% | 12.36% |
AQWA Global X Clean Water ETF | 0.45% | 13.15% | 4.34% | 20.13% | -19.89% | 15.67% |
Correlation
The correlation between EVX and AQWA is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2021 | 0.75 |
The correlation between EVX and AQWA has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.
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Return for Risk
EVX vs. AQWA — Risk / Return Rank
EVX
AQWA
EVX vs. AQWA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Environmental Services ETF (EVX) and Global X Clean Water ETF (AQWA). 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.
| EVX | AQWA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.03 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 0.11 | +0.33 |
| Martin ratioReturn relative to average drawdown | 0.99 | 0.26 | +0.73 |
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Drawdowns
EVX vs. AQWA - Drawdown Comparison
The maximum EVX drawdown since its inception was -55.91%, which is greater than AQWA's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for EVX and AQWA.
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Drawdown Indicators
| EVX | AQWA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.91% | -29.44% | -26.47% |
Max Drawdown (1Y)Largest decline over 1 year | -10.85% | -12.34% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -19.33% | -14.55% | -4.78% |
Max Drawdown (5Y)Largest decline over 5 years | -21.45% | -29.44% | +7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -41.01% | — | — |
Current DrawdownCurrent decline from peak | -5.91% | -9.77% | +3.86% |
Average DrawdownAverage peak-to-trough decline | -8.75% | -8.28% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.81% | 5.39% | -0.58% |
Volatility
EVX vs. AQWA - Volatility Comparison
The current volatility for VanEck Vectors Environmental Services ETF (EVX) is 3.93%, while Global X Clean Water ETF (AQWA) has a volatility of 4.43%. This indicates that EVX experiences smaller price fluctuations and is considered to be less risky than AQWA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVX | AQWA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 4.43% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 10.06% | 11.18% | -1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 14.54% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.60% | 16.79% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.25% | 16.65% | +3.60% |
EVX vs. AQWA - Expense Ratio Comparison
EVX has a 0.55% expense ratio, which is higher than AQWA's 0.50% expense ratio.
Dividends
EVX vs. AQWA - Dividend Comparison
EVX's dividend yield for the trailing twelve months is around 0.18%, less than AQWA's 1.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQWA Global X Clean Water ETF | 1.46% | 1.47% | 1.40% | 1.53% | 1.56% | 1.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EVX VanEck Vectors Environmental Services ETF | 0.18% | 0.19% | 0.46% | 0.95% | 0.41% | 0.24% | 0.32% | 0.38% | 0.38% | 0.89% | 0.70% | 1.16% |
Frequently Asked Questions
EVX and AQWA have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AQWA has higher volatility (4.43%) compared to EVX (3.93%). In terms of maximum drawdown, EVX dropped -55.91% vs AQWA's -29.44%.
On 5-year performance, EVX leads with 7.59% vs 5.21% for AQWA. On fees, AQWA is cheaper at 0.50% per year. On volatility, EVX has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EVX has performed better with a 7.59% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AQWA is cheaper with a 0.50% expense ratio, compared with 0.55% for EVX.
AQWA has the higher dividend yield at 1.46%, compared with 0.18% for EVX.
EVX is categorized as Industrials Equities, while AQWA is Water Equities. EVX tracks NYSE Arca Environmental Services Index, while AQWA tracks Solactive Global Clean Water Industry Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.55% for EVX and 0.50% for AQWA.
EVX currently has the higher Sharpe Ratio (0.35 vs 0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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