The Guggenheim Investments S&P Global Water Index (NYSEArca: CGW) is a global play on industrial machinery, with water utilities rounding out the rest of the holdings. S&P Capital rated CGW “Underweight”, and the ETF has returned 17.2% over the past 12 months.

The ratings company believes that long term prospects are favorable for water ETFs, as flow control and water treatment companies become more cost efficient through advanced technology.

First Trust ISE Water Index Fund

Tisha Guerrero contributed to this article.