GLGG.L vs. AQWG.L
GLGG.L (L&G Clean Water UCITS ETF) and AQWG.L (Global X Clean Water UCITS ETF) are both Water Equities funds tracking the S&P Global Water TR, from Legal & General and Global X respectively. Both are passively managed. Over the past 3 years, GLGG.L returned 10.86%/yr vs 9.85%/yr for AQWG.L. Their correlation of 0.83 suggests significant overlap in exposure. GLGG.L charges 0.49%/yr vs 0.50%/yr for AQWG.L.
Performance
GLGG.L vs. AQWG.L - Performance Comparison
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Different Trading Currencies
GLGG.L is traded in GBp, while AQWG.L is traded in GBP. To make them comparable, the AQWG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLGG.L achieves a 7.41% return, which is significantly higher than AQWG.L's 4.18% return.
GLGG.L
- 1D
- 1.08%
- 1M
- 4.58%
- YTD
- 7.41%
- 6M
- 7.26%
- 1Y
- 14.94%
- 3Y*
- 10.86%
- 5Y*
- 7.31%
- 10Y*
- —
AQWG.L
- 1D
- 0.00%
- 1M
- 3.89%
- YTD
- 4.18%
- 6M
- 4.00%
- 1Y
- 7.60%
- 3Y*
- 9.85%
- 5Y*
- —
- 10Y*
- —
GLGG.L vs. AQWG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLGG.L L&G Clean Water UCITS ETF | 7.41% | 7.81% | 5.74% | 14.58% | -7.49% | 1.29% |
AQWG.L Global X Clean Water UCITS ETF | 4.18% | 5.17% | 7.79% | 18.26% | -9.91% | 2.42% |
Correlation
The correlation between GLGG.L and AQWG.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2021 | 0.83 |
The correlation between GLGG.L and AQWG.L has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
GLGG.L vs. AQWG.L — Risk / Return Rank
GLGG.L
AQWG.L
GLGG.L vs. AQWG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Clean Water UCITS ETF (GLGG.L) and Global X Clean Water UCITS ETF (AQWG.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.
| GLGG.L | AQWG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.11 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 0.68 | +0.60 |
| Martin ratioReturn relative to average drawdown | 3.02 | 1.60 | +1.42 |
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Drawdowns
GLGG.L vs. AQWG.L - Drawdown Comparison
The maximum GLGG.L drawdown since its inception was -35.59%, which is greater than AQWG.L's maximum drawdown of -21.32%. Use the drawdown chart below to compare losses from any high point for GLGG.L and AQWG.L.
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Drawdown Indicators
| GLGG.L | AQWG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.59% | -21.32% | -14.27% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -11.23% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.97% | -17.73% | -2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -19.97% | — | — |
Current DrawdownCurrent decline from peak | -3.72% | -5.00% | +1.28% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -6.48% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.94% | 4.77% | +0.17% |
Volatility
GLGG.L vs. AQWG.L - Volatility Comparison
L&G Clean Water UCITS ETF (GLGG.L) and Global X Clean Water UCITS ETF (AQWG.L) have volatilities of 3.91% and 4.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLGG.L | AQWG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 4.05% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 10.53% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.96% | 13.41% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.41% | 14.97% | +5.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 14.97% | +6.96% |
GLGG.L vs. AQWG.L - Expense Ratio Comparison
GLGG.L has a 0.49% expense ratio, which is lower than AQWG.L's 0.50% expense ratio.
Dividends
GLGG.L vs. AQWG.L - Dividend Comparison
Neither GLGG.L nor AQWG.L has paid dividends to shareholders.
Frequently Asked Questions
GLGG.L and AQWG.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLGG.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLGG.L is cheaper with a 0.49% expense ratio, compared with 0.50% for AQWG.L.
Both ETFs track S&P Global Water TR. They also come from different issuers: Legal & General and Global X. Their fees differ too: 0.49% for GLGG.L and 0.50% for AQWG.L.
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