GLUG.L vs. AQWA.L
GLUG.L (L&G Clean Water UCITS ETF USD (Acc)) and AQWA.L (Global X Clean Water UCITS ETF USD Acc) are both Water Equities funds - GLUG.L tracks the Solactive Clean Water Index NTR while AQWA.L tracks the Solactive Global Clean Water Industry v2 Index. Both are passively managed. Over the past 3 years, GLUG.L returned 11.06%/yr vs 10.03%/yr for AQWA.L. Their correlation of 0.88 suggests significant overlap in exposure. GLUG.L charges 0.49%/yr vs 0.50%/yr for AQWA.L.
Performance
GLUG.L vs. AQWA.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLUG.L achieves a 5.95% return, which is significantly higher than AQWA.L's 3.41% return.
GLUG.L
- 1D
- -0.09%
- 1M
- 1.36%
- 6M
- 0.23%
- YTD
- 5.95%
- 1Y
- 9.33%
- 3Y*
- 11.06%
- 5Y*
- 6.20%
- 10Y*
- —
AQWA.L
- 1D
- -0.30%
- 1M
- 1.58%
- 6M
- -1.03%
- YTD
- 3.41%
- 1Y
- 4.17%
- 3Y*
- 10.03%
- 5Y*
- —
- 10Y*
- —
GLUG.L vs. AQWA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLUG.L L&G Clean Water UCITS ETF USD (Acc) | 5.95% | 15.76% | 4.02% | 21.24% | -17.39% | 3.19% |
AQWA.L Global X Clean Water UCITS ETF USD Acc | 3.41% | 12.96% | 5.98% | 25.16% | -19.37% | 1.47% |
Correlation
The correlation between GLUG.L and AQWA.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2021 | 0.88 |
The correlation between GLUG.L and AQWA.L has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
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Return for Risk
GLUG.L vs. AQWA.L — Risk / Return Rank
GLUG.L
AQWA.L
GLUG.L vs. AQWA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Clean Water UCITS ETF USD (Acc) (GLUG.L) and Global X Clean Water UCITS ETF USD Acc (AQWA.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.
| GLUG.L | AQWA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.06 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 0.35 | +0.38 |
| Martin ratioReturn relative to average drawdown | 1.70 | 0.75 | +0.95 |
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Drawdowns
GLUG.L vs. AQWA.L - Drawdown Comparison
The maximum GLUG.L drawdown since its inception was -35.67%, which is greater than AQWA.L's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for GLUG.L and AQWA.L.
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Drawdown Indicators
| GLUG.L | AQWA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.67% | -28.61% | -7.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.66% | -11.86% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -16.61% | -17.35% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -30.10% | — | — |
Current DrawdownCurrent decline from peak | -5.19% | -6.22% | +1.03% |
Average DrawdownAverage peak-to-trough decline | -7.43% | -9.24% | +1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.47% | 5.57% | -0.10% |
Volatility
GLUG.L vs. AQWA.L - Volatility Comparison
L&G Clean Water UCITS ETF USD (Acc) (GLUG.L) has a higher volatility of 4.96% compared to Global X Clean Water UCITS ETF USD Acc (AQWA.L) at 4.42%. This indicates that GLUG.L's price experiences larger fluctuations and is considered to be riskier than AQWA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLUG.L | AQWA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 4.42% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 13.11% | 11.75% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.94% | 14.88% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 17.33% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.39% | 17.33% | +2.06% |
GLUG.L vs. AQWA.L - Expense Ratio Comparison
GLUG.L has a 0.49% expense ratio, which is lower than AQWA.L's 0.50% expense ratio.
Dividends
GLUG.L vs. AQWA.L - Dividend Comparison
Neither GLUG.L nor AQWA.L has paid dividends to shareholders.
Frequently Asked Questions
GLUG.L and AQWA.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLUG.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLUG.L is cheaper with a 0.49% expense ratio, compared with 0.50% for AQWA.L.
GLUG.L tracks Solactive Clean Water Index NTR, while AQWA.L tracks Solactive Global Clean Water Industry v2 Index. They also come from different issuers: L&G and Global X. Their fees differ too: 0.49% for GLUG.L and 0.50% for AQWA.L.
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