Whether it is due to California’s drought or other factors, some water ETFs have been solid performers this year. For example, the $374.9 million Guggenheim S&P Global Water Fund (NYSEArca: CGW) is up 4.4% this year.

CGW, the first dedicated water ETF to trade in the U.S., tracks companies associated with the global demand for water, including water utilities, infrastructure, equipment, instruments and materials. While CGW, which turns eight in May, appears to be a niche play, investors have embraced the theme of investing in increasing water infrastructure needs and spending. The ETF does not hold shares of Energy Recovery or Layne Christensen. [The Right ETF for World Water Day]

The $281.9 million PowerShares Global Water Portfolio (NYSEArca: PIO) has been the star among water ETFs this year with a 6.7% gain. PIO holds 36 companies that are associated with global water utilities, infrastructure, equipment, instruments and materials. Like CGW, PIO does not hold sharesof Energy Recovery or Layne Christensen.

Guggenheim S&P Global Water ETF