IUSZ.L vs. DH2O.L
IUSZ.L (iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc)) and DH2O.L (iShares Global Water UCITS ETF USD (Dist)) are both exchange-traded funds - IUSZ.L is a Mid Cap Blend Equities fund tracking the MSCI USA Mid-Cap Equal Weighted Index, while DH2O.L is a Global Equities fund tracking the S&P Global Water Index (NET) (USD). Both are passively managed. Over the past 5 years, IUSZ.L returned 6.64%/yr vs 5.15%/yr for DH2O.L. A 0.75 correlation means they provide meaningful diversification when combined. IUSZ.L charges 0.20%/yr vs 0.65%/yr for DH2O.L.
Performance
IUSZ.L vs. DH2O.L - Performance Comparison
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Returns By Period
In the year-to-date period, IUSZ.L achieves a 8.82% return, which is significantly higher than DH2O.L's 4.37% return.
IUSZ.L
- 1D
- -0.44%
- 1M
- 0.52%
- 6M
- 5.50%
- YTD
- 8.82%
- 1Y
- 14.45%
- 3Y*
- 11.75%
- 5Y*
- 6.64%
- 10Y*
- —
DH2O.L
- 1D
- 0.08%
- 1M
- 4.00%
- 6M
- 1.18%
- YTD
- 4.37%
- 1Y
- 7.63%
- 3Y*
- 9.31%
- 5Y*
- 5.15%
- 10Y*
- 9.79%
IUSZ.L vs. DH2O.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) | 8.82% | 8.58% | 12.73% | 17.19% | -18.26% | 26.04% | 17.67% | 27.95% | -10.01% | 17.20% |
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 4.37% | 17.60% | 4.29% | 13.57% | -20.83% | 30.67% | 15.22% | 33.60% | -10.59% | 27.00% |
Correlation
The correlation between IUSZ.L and DH2O.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2016 | 0.75 |
The correlation between IUSZ.L and DH2O.L shifts across timeframes, from 0.61 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IUSZ.L vs. DH2O.L — Risk / Return Rank
IUSZ.L
DH2O.L
IUSZ.L vs. DH2O.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) (IUSZ.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.
| IUSZ.L | DH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.10 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 0.72 | +1.03 |
| Martin ratioReturn relative to average drawdown | 6.21 | 1.66 | +4.55 |
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Drawdowns
IUSZ.L vs. DH2O.L - Drawdown Comparison
The maximum IUSZ.L drawdown since its inception was -41.10%, smaller than the maximum DH2O.L drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for IUSZ.L and DH2O.L.
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Drawdown Indicators
| IUSZ.L | DH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.10% | -56.90% | +15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -10.53% | +2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -16.08% | -5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -25.70% | -32.43% | +6.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.56% | — |
Current DrawdownCurrent decline from peak | -1.18% | -3.63% | +2.45% |
Average DrawdownAverage peak-to-trough decline | -6.47% | -10.39% | +3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 4.58% | -2.26% |
Volatility
IUSZ.L vs. DH2O.L - Volatility Comparison
The current volatility for iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) (IUSZ.L) is 3.58%, while iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a volatility of 4.28%. This indicates that IUSZ.L experiences smaller price fluctuations and is considered to be less risky than DH2O.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSZ.L | DH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 4.28% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 9.42% | 10.90% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.41% | 13.64% | -1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 16.75% | +1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 16.48% | +4.23% |
IUSZ.L vs. DH2O.L - Expense Ratio Comparison
IUSZ.L has a 0.20% expense ratio, which is lower than DH2O.L's 0.65% expense ratio.
Dividends
IUSZ.L vs. DH2O.L - Dividend Comparison
IUSZ.L's dividend yield for the trailing twelve months is around 0.42%, less than DH2O.L's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DH2O.L iShares Global Water UCITS ETF USD (Dist) | 1.34% | 1.33% | 1.06% | 1.18% | 1.09% | 1.66% | 0.94% | 1.39% | 1.80% | 1.46% | 1.76% | 1.65% |
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) | 0.42% | 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
IUSZ.L and DH2O.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSZ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSZ.L is cheaper with a 0.20% expense ratio, compared with 0.65% for DH2O.L.
IUSZ.L is categorized as Mid Cap Blend Equities, while DH2O.L is Global Equities. IUSZ.L tracks MSCI USA Mid-Cap Equal Weighted Index, while DH2O.L tracks S&P Global Water Index (NET) (USD). Their fees differ too: 0.20% for IUSZ.L and 0.65% for DH2O.L.
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