GWH vs. CGW
GWH (ESS Tech, Inc.) is a stock, while CGW (Invesco S&P Global Water Index ETF) is Water Equities fund tracking the S&P Global Water Index. Over the past 5 years, GWH returned -65.34%/yr vs 4.33%/yr for CGW. Their 0.30 correlation means their historical movements had little consistent relationship.
Performance
GWH vs. CGW - Performance Comparison
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Returns By Period
In the year-to-date period, GWH achieves a -60.27% return, which is significantly lower than CGW's 3.11% return.
GWH
- 1D
- -1.53%
- 1M
- -13.44%
- 6M
- -57.31%
- YTD
- -60.27%
- 1Y
- -56.32%
- 3Y*
- -69.92%
- 5Y*
- -65.34%
- 10Y*
- —
- ALL TIME*
- -61.55%
CGW
- 1D
- -0.04%
- 1M
- -1.28%
- 6M
- -0.81%
- YTD
- 3.11%
- 1Y
- 5.96%
- 3Y*
- 9.41%
- 5Y*
- 4.33%
- 10Y*
- 9.88%
- ALL TIME*
- 7.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.68M | $1.92M | $1.96M | |
| $579.06K | $560.59K | $768.83K |
GWH vs. CGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GWH ESS Tech, Inc. | -60.27% | -68.03% | -65.61% | -53.09% | -78.76% | 12.16% |
CGW Invesco S&P Global Water Index ETF | 3.11% | 18.10% | 4.55% | 15.50% | -22.00% | 31.70% |
Correlation
The correlation between GWH and CGW is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.28 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021 | 0.30 |
The correlation between GWH and CGW shifts across timeframes, from 0.20 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GWH vs. CGW — Risk / Return Rank
GWH
CGW
GWH vs. CGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ESS Tech, Inc. (GWH) and Invesco S&P Global Water Index ETF (CGW). 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.
| GWH | CGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.08 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 0.57 | -1.23 |
| Martin ratioReturn relative to average drawdown | -0.83 | 1.29 | -2.12 |
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Drawdowns
GWH vs. CGW - Drawdown Comparison
The maximum GWH drawdown since its inception was -99.80%, which is greater than CGW's maximum drawdown of -57.24%. Use the drawdown chart below to compare losses from any high point for GWH and CGW.
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Drawdown Indicators
| GWH | CGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -57.24% | -42.56% |
Max Drawdown (1Y)Largest decline over 1 year | -92.10% | -10.86% | -81.24% |
Max Drawdown (3Y)Largest decline over 3 years | -97.61% | -14.19% | -83.42% |
Max Drawdown (5Y)Largest decline over 5 years | -99.80% | -32.74% | -67.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.72% | — |
Current DrawdownCurrent decline from peak | -99.79% | -5.65% | -94.14% |
Average DrawdownAverage peak-to-trough decline | -79.36% | -9.81% | -69.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 73.11% | 4.84% | +68.27% |
Volatility
GWH vs. CGW - Volatility Comparison
ESS Tech, Inc. (GWH) has a higher volatility of 33.80% compared to Invesco S&P Global Water Index ETF (CGW) at 4.02%. This indicates that GWH's price experiences larger fluctuations and is considered to be riskier than CGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWH | CGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.80% | 4.02% | +29.78% |
Volatility (6M)Calculated over the trailing 6-month period | 74.53% | 10.81% | +63.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 215.17% | 13.88% | +201.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 154.61% | 16.87% | +137.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 146.43% | 17.61% | +128.82% |
Dividends
GWH vs. CGW - Dividend Comparison
GWH has not paid dividends to shareholders, while CGW's dividend yield for the trailing twelve months is around 1.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGW Invesco S&P Global Water Index ETF | 1.53% | 1.58% | 2.27% | 1.55% | 1.45% | 1.59% | 1.41% | 1.48% | 2.14% | 1.71% | 1.65% | 1.67% |
GWH ESS Tech, Inc. | 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
GWH and CGW have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GWH has higher volatility (33.80%) compared to CGW (4.02%). In terms of maximum drawdown, GWH dropped -99.80% vs CGW's -57.24%.
CGW currently has the higher Sharpe Ratio (0.45 vs -0.28), 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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