IH2O.L vs. AQWG.L
IH2O.L (iShares Global 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 iShares and Global X respectively. Both are passively managed. Over the past 3 years, IH2O.L returned 6.36%/yr vs 7.66%/yr for AQWG.L. Their correlation of 0.89 suggests significant overlap in exposure. IH2O.L charges 0.65%/yr vs 0.50%/yr for AQWG.L.
Performance
IH2O.L vs. AQWG.L - Performance Comparison
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Different Trading Currencies
IH2O.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, IH2O.L achieves a -1.56% return, which is significantly lower than AQWG.L's -0.99% return.
IH2O.L
- 1D
- -0.06%
- 1M
- -2.43%
- YTD
- -1.56%
- 6M
- -2.69%
- 1Y
- 4.75%
- 3Y*
- 6.36%
- 5Y*
- 5.71%
- 10Y*
- 10.41%
AQWG.L
- 1D
- -0.23%
- 1M
- -1.39%
- YTD
- -0.99%
- 6M
- -3.24%
- 1Y
- 2.35%
- 3Y*
- 7.66%
- 5Y*
- —
- 10Y*
- —
IH2O.L vs. AQWG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IH2O.L iShares Global Water UCITS ETF | -1.56% | 10.23% | 6.31% | 7.67% | -11.13% | -0.78% |
AQWG.L Global X Clean Water UCITS ETF | -0.99% | 5.17% | 7.79% | 18.26% | -10.22% | -2.19% |
Correlation
The correlation between IH2O.L and AQWG.L is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.89 |
The correlation between IH2O.L and AQWG.L has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.
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Return for Risk
IH2O.L vs. AQWG.L — Risk / Return Rank
IH2O.L
AQWG.L
IH2O.L vs. AQWG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Water UCITS ETF (IH2O.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.
| IH2O.L | AQWG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.04 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.21 | +0.25 |
| Martin ratioReturn relative to average drawdown | 1.23 | 0.52 | +0.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IH2O.L | AQWG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 0.18 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.23 | +0.38 |
Drawdowns
IH2O.L vs. AQWG.L - Drawdown Comparison
The maximum IH2O.L drawdown since its inception was -35.40%, which is greater than AQWG.L's maximum drawdown of -23.03%. Use the drawdown chart below to compare losses from any high point for IH2O.L and AQWG.L.
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Drawdown Indicators
| IH2O.L | AQWG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.40% | -23.03% | -12.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.29% | -11.23% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -17.73% | +3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -23.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | — | — |
Current DrawdownCurrent decline from peak | -9.03% | -9.71% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -7.35% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 4.49% | -0.63% |
Volatility
IH2O.L vs. AQWG.L - Volatility Comparison
iShares Global Water UCITS ETF (IH2O.L) and Global X Clean Water UCITS ETF (AQWG.L) have volatilities of 3.95% and 3.98%, 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
| IH2O.L | AQWG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 3.98% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.15% | 9.96% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.26% | 13.03% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 15.00% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.92% | 15.00% | -0.08% |
IH2O.L vs. AQWG.L - Expense Ratio Comparison
IH2O.L has a 0.65% expense ratio, which is higher than AQWG.L's 0.50% expense ratio.
Dividends
IH2O.L vs. AQWG.L - Dividend Comparison
IH2O.L's dividend yield for the trailing twelve months is around 1.91%, while AQWG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQWG.L Global X Clean Water UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IH2O.L iShares Global Water UCITS ETF | 1.91% | 1.78% | 1.34% | 1.51% | 1.32% | 2.25% | 1.29% | 1.84% | 2.30% | 1.98% | 2.17% | 2.45% |
Frequently Asked Questions
IH2O.L and AQWG.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AQWG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AQWG.L is cheaper with a 0.50% expense ratio, compared with 0.65% for IH2O.L.
Both ETFs track S&P Global Water TR. They also come from different issuers: iShares and Global X. Their fees differ too: 0.65% for IH2O.L and 0.50% for AQWG.L.
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