IH2O.L vs. IS3R.DE
IH2O.L (iShares Global Water UCITS ETF) and IS3R.DE (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - IH2O.L is a Water Equities fund tracking the S&P Global Water TR, while IS3R.DE is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, IH2O.L returned 10.41%/yr vs 16.43%/yr for IS3R.DE. A 0.62 correlation means they provide meaningful diversification when combined. IH2O.L charges 0.65%/yr vs 0.25%/yr for IS3R.DE.
Performance
IH2O.L vs. IS3R.DE - Performance Comparison
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Different Trading Currencies
IH2O.L is traded in GBp, while IS3R.DE is traded in EUR. To make them comparable, the IS3R.DE 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 IS3R.DE's 21.49% return. Over the past 10 years, IH2O.L has underperformed IS3R.DE with an annualized return of 10.41%, while IS3R.DE has yielded a comparatively higher 16.43% annualized return.
IH2O.L
- 1D
- -0.06%
- 1M
- -3.51%
- YTD
- -1.56%
- 6M
- -2.67%
- 1Y
- 4.90%
- 3Y*
- 6.36%
- 5Y*
- 5.71%
- 10Y*
- 10.41%
IS3R.DE
- 1D
- -0.93%
- 1M
- 6.80%
- YTD
- 21.49%
- 6M
- 22.28%
- 1Y
- 34.75%
- 3Y*
- 26.22%
- 5Y*
- 14.82%
- 10Y*
- 16.43%
IH2O.L vs. IS3R.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IH2O.L iShares Global Water UCITS ETF | -1.56% | 10.23% | 6.31% | 7.67% | -11.13% | 33.06% | 11.63% | 29.99% | -4.91% | 16.22% |
IS3R.DE iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 21.49% | 14.01% | 31.94% | 5.94% | -8.87% | 15.72% | 22.98% | 24.66% | 1.69% | 21.02% |
Correlation
The correlation between IH2O.L and IS3R.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2014 | 0.62 |
Over the past year, the correlation between IH2O.L and IS3R.DE has dropped to 0.28 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
IH2O.L vs. IS3R.DE — Risk / Return Rank
IH2O.L
IS3R.DE
IH2O.L vs. IS3R.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Water UCITS ETF (IH2O.L) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IS3R.DE). 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 | IS3R.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.46 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.38 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 3.95 | -3.49 |
| Martin ratioReturn relative to average drawdown | 1.23 | 14.94 | -13.71 |
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 | IS3R.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 2.11 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.87 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.94 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.92 | -0.31 |
Drawdowns
IH2O.L vs. IS3R.DE - Drawdown Comparison
The maximum IH2O.L drawdown since its inception was -35.40%, which is greater than IS3R.DE's maximum drawdown of -23.03%. Use the drawdown chart below to compare losses from any high point for IH2O.L and IS3R.DE.
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Drawdown Indicators
| IH2O.L | IS3R.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.40% | -23.03% | -12.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.29% | -8.80% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -21.22% | +7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.14% | -21.22% | -1.92% |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | -23.03% | -4.13% |
Current DrawdownCurrent decline from peak | -9.03% | -0.93% | -8.10% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -4.96% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 2.33% | +1.53% |
Volatility
IH2O.L vs. IS3R.DE - Volatility Comparison
The current volatility for iShares Global Water UCITS ETF (IH2O.L) is 3.95%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IS3R.DE) has a volatility of 6.00%. This indicates that IH2O.L experiences smaller price fluctuations and is considered to be less risky than IS3R.DE 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 | IS3R.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 6.00% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.15% | 14.00% | -3.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.26% | 16.52% | -4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 16.85% | -2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.92% | 17.27% | -2.35% |
IH2O.L vs. IS3R.DE - Expense Ratio Comparison
IH2O.L has a 0.65% expense ratio, which is higher than IS3R.DE's 0.25% expense ratio.
Dividends
IH2O.L vs. IS3R.DE - Dividend Comparison
IH2O.L's dividend yield for the trailing twelve months is around 1.91%, while IS3R.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IS3R.DE iShares Edge MSCI World Momentum Factor UCITS ETF (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% |
Frequently Asked Questions
IH2O.L and IS3R.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3R.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3R.DE is cheaper with a 0.25% expense ratio, compared with 0.65% for IH2O.L.
IH2O.L is categorized as Water Equities, while IS3R.DE is Momentum. IH2O.L tracks S&P Global Water TR, while IS3R.DE tracks MSCI World Momentum Index. Their fees differ too: 0.65% for IH2O.L and 0.25% for IS3R.DE.
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