WATL.L vs. AQWA.L

Last updated Jul 16, 2026

WATL.L (Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist) and AQWA.L (Global X Clean Water UCITS ETF USD Acc) are both Water Equities funds - WATL.L tracks the S&P Global Water TR while AQWA.L tracks the Solactive Global Clean Water Industry v2 Index. Both are passively managed. Over the past 3 years, WATL.L returned 8.55%/yr vs 8.56%/yr for AQWA.L. Their correlation of 0.83 suggests significant overlap in exposure. WATL.L charges 0.60%/yr vs 0.50%/yr for AQWA.L.

Performance

WATL.L vs. AQWA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.L) and Global X Clean Water UCITS ETF USD Acc (AQWA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WATL.L is traded in GBp, while AQWA.L is traded in USD. To make them comparable, the AQWA.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 WATL.L having a 1.88% return and AQWA.L slightly lower at 1.83%.

WATL.L

• 1D: -1.35%
• 1M: 1.08%
• 6M: -1.18%
• YTD: 1.88%
• 1Y: 0.98%
• 3Y*: 8.55%
• 5Y*: 5.33%
• 10Y*: 8.43%

AQWA.L

• 1D: 0.00%
• 1M: 1.03%
• 6M: -1.04%
• YTD: 1.83%
• 1Y: 1.54%
• 3Y*: 8.56%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

WATL.L vs. AQWA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WATL.L Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist	1.88%	6.48%	7.33%	16.26%	-11.97%	0.66%
AQWA.L Global X Clean Water UCITS ETF USD Acc	1.83%	4.91%	7.83%	18.90%	-9.78%	-0.71%

Correlation

The correlation between WATL.L and AQWA.L is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Dec 7, 2021	0.83

The correlation between WATL.L and AQWA.L has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

Return for Risk

WATL.L vs. AQWA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WATL.L

WATL.L Risk / Return Rank: 10
WATL.L Sharpe Ratio Rank: 11
WATL.L Sortino Ratio Rank: 9
WATL.L Omega Ratio Rank: 9
WATL.L Calmar Ratio Rank: 10
WATL.L Martin Ratio Rank: 10

AQWA.L

AQWA.L Risk / Return Rank: 13
AQWA.L Sharpe Ratio Rank: 13
AQWA.L Sortino Ratio Rank: 13
AQWA.L Omega Ratio Rank: 13
AQWA.L Calmar Ratio Rank: 13
AQWA.L Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WATL.L vs. AQWA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.L) and Global X Clean Water UCITS ETF USD Acc (AQWA.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.

	WATL.L	AQWA.L	Difference
Sharpe ratio: Return per unit of total volatility	0.08	0.23	-0.15
Sortino ratio: Return per unit of downside risk	0.19	0.42	-0.22
Omega ratio: Gain probability vs. loss probability	1.02	1.05	-0.03
Calmar ratio: Return relative to maximum drawdown	0.08	0.31	-0.22
Martin ratio: Return relative to average drawdown	0.19	0.69	-0.50

WATL.L vs. AQWA.L - Sharpe Ratio Comparison

The current WATL.L Sharpe Ratio is 0.08, which is lower than the AQWA.L Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of WATL.L and AQWA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WATL.L vs. AQWA.L - Drawdown Comparison

The maximum WATL.L drawdown since its inception was -47.32%, which is greater than AQWA.L's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for WATL.L and AQWA.L.

Drawdown Indicators

	WATL.L	AQWA.L	Difference
Max Drawdown Largest peak-to-trough decline	-47.32%	-21.97%	-25.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-11.36%	-0.23%
Max Drawdown (3Y) Largest decline over 3 years	-13.45%	-18.10%	+4.65%
Max Drawdown (5Y) Largest decline over 5 years	-23.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.96%	—	—
Current Drawdown Current decline from peak	-7.79%	-7.25%	-0.54%
Average Drawdown Average peak-to-trough decline	-8.60%	-6.67%	-1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	5.06%	+0.04%

Volatility

WATL.L vs. AQWA.L - Volatility Comparison

The current volatility for Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.L) is 3.89%, while Global X Clean Water UCITS ETF USD Acc (AQWA.L) has a volatility of 4.98%. This indicates that WATL.L experiences smaller price fluctuations and is considered to be less risky than AQWA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WATL.L	AQWA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	4.98%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	12.14%	-2.53%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	14.97%	-3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	16.15%	-2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.91%	16.15%	-1.24%

WATL.L vs. AQWA.L - Expense Ratio Comparison

WATL.L has a 0.60% expense ratio, which is higher than AQWA.L's 0.50% expense ratio.

Dividends

WATL.L vs. AQWA.L - Dividend Comparison

WATL.L's dividend yield for the trailing twelve months is around 1.06%, while AQWA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQWA.L Global X 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%
WATL.L Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist	1.06%	1.08%	0.76%	0.85%	0.42%	0.63%	1.22%	1.59%	2.06%	1.60%	2.22%	2.45%

Frequently Asked Questions

Can I hold both WATL.L and AQWA.L in my portfolio?

WATL.L and AQWA.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WATL.L or AQWA.L?

On fees, AQWA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WATL.L or AQWA.L?

AQWA.L is cheaper with a 0.50% expense ratio, compared with 0.60% for WATL.L.

What is the main difference between WATL.L and AQWA.L?

WATL.L tracks S&P Global Water TR, while AQWA.L tracks Solactive Global Clean Water Industry v2 Index. They also come from different issuers: Amundi and Global X. Their fees differ too: 0.60% for WATL.L and 0.50% for AQWA.L.