WATL.L vs. DH2O.L
WATL.L (Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist) and DH2O.L (iShares Global Water UCITS ETF USD (Dist)) are both exchange-traded funds - WATL.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, WATL.L returned 8.43%/yr vs 9.34%/yr for DH2O.L. A 0.73 correlation means they provide meaningful diversification when combined. WATL.L charges 0.60%/yr vs 0.65%/yr for DH2O.L.
Performance
WATL.L vs. DH2O.L - Performance Comparison
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Different Trading Currencies
WATL.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
In the year-to-date period, WATL.L achieves a 1.88% return, which is significantly lower than DH2O.L's 2.29% return. Over the past 10 years, WATL.L has underperformed DH2O.L with an annualized return of 8.43%, while DH2O.L has yielded a comparatively higher 9.34% annualized return.
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%
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%
WATL.L vs. DH2O.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WATL.L Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist | 1.88% | 6.48% | 7.33% | 16.26% | -11.97% | 25.45% | 13.28% | 32.02% | -12.68% | 14.47% |
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 WATL.L and DH2O.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.73 |
The correlation between WATL.L and DH2O.L shifts across timeframes, from 0.73 (all time) to 0.85 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
WATL.L vs. DH2O.L — Risk / Return Rank
WATL.L
DH2O.L
WATL.L vs. DH2O.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 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.
| WATL.L | DH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.09 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 0.60 | -0.51 |
| Martin ratioReturn relative to average drawdown | 0.19 | 1.46 | -1.27 |
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Drawdowns
WATL.L vs. DH2O.L - Drawdown Comparison
The maximum WATL.L drawdown since its inception was -47.32%, 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 WATL.L and DH2O.L.
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Drawdown Indicators
| WATL.L | DH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.32% | -37.91% | -9.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.59% | -10.33% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -14.14% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.48% | -23.57% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -28.96% | -27.84% | -1.12% |
Current DrawdownCurrent decline from peak | -7.79% | -5.49% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -6.01% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.10% | 4.25% | +0.85% |
Volatility
WATL.L vs. DH2O.L - Volatility Comparison
The current volatility for Lyxor MSCI Water ESG Filtered (DR) UCITS ETF Dist (WATL.L) is 3.89%, while iShares Global Water UCITS ETF USD (Dist) (DH2O.L) has a volatility of 4.67%. This indicates that WATL.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
| WATL.L | DH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.89% | 4.67% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 10.97% | -1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.81% | 13.59% | -1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 15.17% | -1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 15.73% | -0.82% |
WATL.L vs. DH2O.L - Expense Ratio Comparison
WATL.L has a 0.60% expense ratio, which is lower than DH2O.L's 0.65% expense ratio.
Dividends
WATL.L vs. DH2O.L - Dividend Comparison
WATL.L's dividend yield for the trailing twelve months is around 1.06%, less 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% |
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
WATL.L and DH2O.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WATL.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WATL.L is cheaper with a 0.60% expense ratio, compared with 0.65% for DH2O.L.
WATL.L is categorized as Water Equities, while DH2O.L is Global Equities. WATL.L tracks S&P Global Water TR, while DH2O.L tracks S&P Global Water Index (NET) (USD). They also come from different issuers: Amundi and iShares. Their fees differ too: 0.60% for WATL.L and 0.65% for DH2O.L.
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