IH2O.L vs. DH2O.L
IH2O.L (iShares Global Water UCITS ETF) and DH2O.L (iShares Global Water UCITS ETF USD (Dist)) are both exchange-traded funds - IH2O.L is a Water Equities fund tracking the S&P Global Water TR, while DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD). Both are passively managed. Over the past 10 years, IH2O.L returned 9.37%/yr vs 9.34%/yr for DH2O.L. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.
Performance
IH2O.L vs. DH2O.L - Performance Comparison
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Different Trading Currencies
IH2O.L is traded in GBp, while DH2O.L is traded in USD. To make them comparable, the DH2O.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with IH2O.L having a 2.32% return and DH2O.L slightly lower at 2.29%. Both investments have delivered pretty close results over the past 10 years, with IH2O.L having a 9.37% annualized return and DH2O.L not far behind at 9.34%.
IH2O.L
- 1D
- -0.94%
- 1M
- 2.92%
- 6M
- 0.64%
- YTD
- 2.32%
- 1Y
- 5.31%
- 3Y*
- 7.96%
- 5Y*
- 5.27%
- 10Y*
- 9.37%
DH2O.L
- 1D
- 0.00%
- 1M
- 2.01%
- 6M
- 0.28%
- YTD
- 2.29%
- 1Y
- 5.05%
- 3Y*
- 7.67%
- 5Y*
- 5.17%
- 10Y*
- 9.34%
IH2O.L vs. DH2O.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IH2O.L iShares Global Water UCITS ETF | 2.32% | 9.75% | 6.03% | 7.33% | -11.32% | 32.25% | 11.29% | 29.42% | -5.41% | 15.67% |
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 2.29% | 9.23% | 6.11% | 7.89% | -11.42% | 31.91% | 11.83% | 28.52% | -5.29% | 16.01% |
Correlation
The correlation between IH2O.L and DH2O.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2007 | 0.83 |
The correlation between IH2O.L and DH2O.L has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.
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Return for Risk
IH2O.L vs. DH2O.L — Risk / Return Rank
IH2O.L
DH2O.L
IH2O.L vs. DH2O.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Water UCITS ETF (IH2O.L) and iShares Global Water UCITS ETF USD (Dist) (DH2O.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.
| IH2O.L | DH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.09 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 0.60 | -0.09 |
| Martin ratioReturn relative to average drawdown | 1.20 | 1.46 | -0.26 |
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Drawdowns
IH2O.L vs. DH2O.L - Drawdown Comparison
The maximum IH2O.L drawdown since its inception was -67.32%, which is greater than DH2O.L's maximum drawdown of -37.91%. Use the drawdown chart below to compare losses from any high point for IH2O.L and DH2O.L.
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Drawdown Indicators
| IH2O.L | DH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.32% | -37.91% | -29.41% |
Max Drawdown (1Y)Largest decline over 1 year | -10.50% | -10.33% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -14.14% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | -23.57% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | -27.84% | +0.68% |
Current DrawdownCurrent decline from peak | -5.45% | -5.49% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -20.47% | -6.01% | -14.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 4.25% | +0.18% |
Volatility
IH2O.L vs. DH2O.L - Volatility Comparison
iShares Global Water UCITS ETF (IH2O.L) and iShares Global Water UCITS ETF USD (Dist) (DH2O.L) have volatilities of 4.61% and 4.67%, 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 | DH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 4.67% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.86% | 10.97% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.94% | 13.59% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.09% | 15.17% | -1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.90% | 15.73% | -0.83% |
IH2O.L vs. DH2O.L - Expense Ratio Comparison
Both IH2O.L and DH2O.L have an expense ratio of 0.65%.
Dividends
IH2O.L vs. DH2O.L - Dividend Comparison
IH2O.L's dividend yield for the trailing twelve months is around 1.38%, more than DH2O.L's 1.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 1.36% | 1.33% | 1.06% | 1.18% | 1.09% | 1.66% | 0.94% | 1.39% | 1.80% | 1.46% | 1.76% | 1.65% |
IH2O.L iShares Global Water UCITS ETF | 1.38% | 1.35% | 1.05% | 1.21% | 1.11% | 1.67% | 1.00% | 1.43% | 1.77% | 1.52% | 1.62% | 1.61% |
Frequently Asked Questions
IH2O.L and DH2O.L have a correlation of 0.83, 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 DH2O.L have the same expense ratio: 0.65% per year.
IH2O.L is categorized as Water Equities, while DH2O.L is Global Equities. IH2O.L tracks S&P Global Water TR, while DH2O.L tracks S&P Global Water Index (NET) (USD).
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