IH2O.L vs. COPG.L
IH2O.L (iShares Global Water UCITS ETF) and COPG.L (Global X Copper Miners UCITS ETF USD Acc) are both exchange-traded funds - IH2O.L is a Water Equities fund tracking the S&P Global Water TR, while COPG.L is a Commodity Producers Equities fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 3 years, IH2O.L returned 6.36%/yr vs 34.51%/yr for COPG.L. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.65% expense ratio.
Performance
IH2O.L vs. COPG.L - Performance Comparison
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Different Trading Currencies
IH2O.L is traded in GBp, while COPG.L is traded in GBP. To make them comparable, the COPG.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 COPG.L's 24.91% 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%
COPG.L
- 1D
- -0.95%
- 1M
- 15.82%
- YTD
- 24.91%
- 6M
- 35.76%
- 1Y
- 119.81%
- 3Y*
- 34.51%
- 5Y*
- —
- 10Y*
- —
IH2O.L vs. COPG.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% | -0.14% |
COPG.L Global X Copper Miners UCITS ETF USD Acc | 24.91% | 82.05% | 3.66% | 3.03% | 14.35% | -1.92% |
Correlation
The correlation between IH2O.L and COPG.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2021 | 0.30 |
The correlation between IH2O.L and COPG.L shifts across timeframes, from 0.14 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IH2O.L vs. COPG.L — Risk / Return Rank
IH2O.L
COPG.L
IH2O.L vs. COPG.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 Copper Miners UCITS ETF USD Acc (COPG.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 | COPG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.44 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 4.53 | -4.07 |
| Martin ratioReturn relative to average drawdown | 1.23 | 14.57 | -13.34 |
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 | COPG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 3.14 | -2.75 |
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 | 0.77 | -0.15 |
Drawdowns
IH2O.L vs. COPG.L - Drawdown Comparison
The maximum IH2O.L drawdown since its inception was -35.40%, smaller than the maximum COPG.L drawdown of -38.84%. Use the drawdown chart below to compare losses from any high point for IH2O.L and COPG.L.
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Drawdown Indicators
| IH2O.L | COPG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.40% | -38.84% | +3.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.29% | -26.29% | +16.00% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -38.84% | +24.88% |
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% | -5.64% | -3.39% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -13.96% | +8.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 8.19% | -4.33% |
Volatility
IH2O.L vs. COPG.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF (IH2O.L) is 3.95%, while Global X Copper Miners UCITS ETF USD Acc (COPG.L) has a volatility of 14.11%. This indicates that IH2O.L experiences smaller price fluctuations and is considered to be less risky than COPG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IH2O.L | COPG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 14.11% | -10.16% |
Volatility (6M)Calculated over the trailing 6-month period | 10.15% | 32.19% | -22.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.26% | 37.96% | -25.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 33.82% | -19.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.92% | 33.82% | -18.90% |
IH2O.L vs. COPG.L - Expense Ratio Comparison
Both IH2O.L and COPG.L have an expense ratio of 0.65%.
Dividends
IH2O.L vs. COPG.L - Dividend Comparison
IH2O.L's dividend yield for the trailing twelve months is around 1.91%, while COPG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPG.L Global X Copper Miners UCITS ETF USD Acc | 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 COPG.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IH2O.L and COPG.L have the same expense ratio: 0.65% per year.
IH2O.L is categorized as Water Equities, while COPG.L is Commodity Producers Equities. IH2O.L tracks S&P Global Water TR, while COPG.L tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: iShares and Global X.
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