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 -65.02%/yr vs 5.08%/yr for CGW. At a 0.31 correlation, their price movements are largely independent.
Performance
GWH vs. CGW - Performance Comparison
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Returns By Period
In the year-to-date period, GWH achieves a -58.62% return, which is significantly lower than CGW's -0.07% return.
GWH
- 1D
- 5.12%
- 1M
- -18.75%
- YTD
- -58.62%
- 6M
- -61.67%
- 1Y
- -27.29%
- 3Y*
- -66.09%
- 5Y*
- -65.02%
- 10Y*
- —
CGW
- 1D
- -1.01%
- 1M
- 0.69%
- YTD
- -0.07%
- 6M
- -0.77%
- 1Y
- 4.10%
- 3Y*
- 9.64%
- 5Y*
- 5.08%
- 10Y*
- 9.98%
GWH vs. CGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GWH ESS Tech, Inc. | -58.62% | -68.03% | -65.61% | -53.09% | -78.76% | 12.16% |
CGW Invesco S&P Global Water Index ETF | -0.07% | 18.10% | 4.55% | 15.50% | -22.00% | 31.70% |
Correlation
The correlation between GWH and CGW is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021 | 0.31 |
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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 | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.06 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 0.38 | -0.68 |
| Martin ratioReturn relative to average drawdown | -0.40 | 0.90 | -1.30 |
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Drawdowns
GWH vs. CGW - Drawdown Comparison
The maximum GWH drawdown since its inception was -99.79%, 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 | -99.79% | -57.24% | -42.55% |
Max Drawdown (1Y)Largest decline over 1 year | -91.82% | -10.86% | -80.96% |
Max Drawdown (3Y)Largest decline over 3 years | -97.52% | -16.24% | -81.28% |
Max Drawdown (5Y)Largest decline over 5 years | -99.79% | -32.74% | -67.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.72% | — |
Current DrawdownCurrent decline from peak | -99.78% | -8.55% | -91.23% |
Average DrawdownAverage peak-to-trough decline | -78.96% | -9.83% | -69.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.37% | 4.54% | +63.83% |
Volatility
GWH vs. CGW - Volatility Comparison
ESS Tech, Inc. (GWH) has a higher volatility of 22.04% compared to Invesco S&P Global Water Index ETF (CGW) at 4.01%. 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 | 22.04% | 4.01% | +18.03% |
Volatility (6M)Calculated over the trailing 6-month period | 65.38% | 10.51% | +54.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 221.43% | 13.58% | +207.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 153.58% | 16.82% | +136.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 146.82% | 17.63% | +129.19% |
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 1.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGW Invesco S&P Global Water Index ETF | 1.58% | 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 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GWH has higher volatility (22.04%) compared to CGW (4.01%). In terms of maximum drawdown, GWH dropped -99.79% vs CGW's -57.24%.
CGW currently has the higher Sharpe Ratio (0.30 vs -0.12), 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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