IH2O.L vs. GLUG.L
IH2O.L (iShares Global Water UCITS ETF) and GLUG.L (L&G Clean Water UCITS ETF USD (Acc)) are both Water Equities funds - IH2O.L tracks the S&P Global Water TR while GLUG.L tracks the Solactive Clean Water Index NTR. Both are passively managed. Over the past 5 years, IH2O.L returned 5.70%/yr vs 6.69%/yr for GLUG.L. Their correlation of 0.82 suggests significant overlap in exposure. IH2O.L charges 0.65%/yr vs 0.49%/yr for GLUG.L.
Performance
IH2O.L vs. GLUG.L - Performance Comparison
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Different Trading Currencies
IH2O.L is traded in GBp, while GLUG.L is traded in USD. To make them comparable, the GLUG.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 4.41% return, which is significantly lower than GLUG.L's 6.10% return.
IH2O.L
- 1D
- 0.56%
- 1M
- 3.76%
- 6M
- 0.75%
- YTD
- 4.41%
- 1Y
- 8.08%
- 3Y*
- 8.35%
- 5Y*
- 5.70%
- 10Y*
- 9.55%
GLUG.L
- 1D
- 0.07%
- 1M
- 0.12%
- 6M
- -0.35%
- YTD
- 6.10%
- 1Y
- 9.03%
- 3Y*
- 9.90%
- 5Y*
- 6.69%
- 10Y*
- —
IH2O.L vs. GLUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IH2O.L iShares Global Water UCITS ETF | 4.41% | 9.75% | 6.03% | 7.33% | -11.32% | 32.25% | 11.29% | 7.30% |
GLUG.L L&G Clean Water UCITS ETF USD (Acc) | 6.10% | 7.51% | 5.84% | 15.18% | -7.57% | 27.35% | 15.48% | 8.48% |
Correlation
The correlation between IH2O.L and GLUG.L is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.82 |
The correlation between IH2O.L and GLUG.L has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
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Return for Risk
IH2O.L vs. GLUG.L — Risk / Return Rank
IH2O.L
GLUG.L
IH2O.L vs. GLUG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Water UCITS ETF (IH2O.L) and L&G Clean Water UCITS ETF USD (Acc) (GLUG.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 | GLUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.11 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 0.77 | 0.00 |
| Martin ratioReturn relative to average drawdown | 1.82 | 1.78 | +0.04 |
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Drawdowns
IH2O.L vs. GLUG.L - Drawdown Comparison
The maximum IH2O.L drawdown since its inception was -67.32%, which is greater than GLUG.L's maximum drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for IH2O.L and GLUG.L.
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Drawdown Indicators
| IH2O.L | GLUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.32% | -27.81% | -39.51% |
Max Drawdown (1Y)Largest decline over 1 year | -10.50% | -11.68% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -16.59% | +2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | -19.12% | -4.07% |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | — | — |
Current DrawdownCurrent decline from peak | -3.52% | -4.90% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -20.46% | -5.12% | -15.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 5.07% | -0.63% |
Volatility
IH2O.L vs. GLUG.L - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF (IH2O.L) is 4.74%, while L&G Clean Water UCITS ETF USD (Acc) (GLUG.L) has a volatility of 5.49%. This indicates that IH2O.L experiences smaller price fluctuations and is considered to be less risky than GLUG.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 | GLUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 5.49% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 10.87% | 13.04% | -2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.96% | 15.51% | -2.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.10% | 16.26% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.90% | 18.01% | -3.11% |
IH2O.L vs. GLUG.L - Expense Ratio Comparison
IH2O.L has a 0.65% expense ratio, which is higher than GLUG.L's 0.49% expense ratio.
Dividends
IH2O.L vs. GLUG.L - Dividend Comparison
IH2O.L's dividend yield for the trailing twelve months is around 1.35%, while GLUG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLUG.L L&G Clean Water 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 | 1.35% | 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 GLUG.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLUG.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLUG.L is cheaper with a 0.49% expense ratio, compared with 0.65% for IH2O.L.
IH2O.L tracks S&P Global Water TR, while GLUG.L tracks Solactive Clean Water Index NTR. They also come from different issuers: iShares and L&G. Their fees differ too: 0.65% for IH2O.L and 0.49% for GLUG.L.
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