The Kobo Aura One has ComfortLightPRO.
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By reducing blue-light exposure, the enhanced front-light technology protects your eyes and provides the best nighttime reading experience. The automatic setting mimics the sun’s natural progression, emitting the optimal brightness and hue based on the time of day. Or, simply choose your own light settings based on your personal preference. With Kobo Aura ONE, enjoy nighttime reading without impacting your sleep, and wake up feeling refreshed.
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It also has 8GB onboard storage and no card slot for more storage.
Much better waterproofing than the H2O.
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Waterproof for the ultimate escape
Sink into a good read while in the bath or take it poolside without worry. Your Kobo Aura ONE has HZO Protection™, making it waterproof from the inside out and is ready to go places other devices can’t. The coating technology applied to the electronics inside allow it to be fully submerged without the need for port covers. Now relax, draw a bath and start reading.
*Meets requirements of IPX8 rating. Waterproof for up to 60 minutes in up to 2 metres of water.
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The screen is 7.8" vs the H2O at 6.8". The screen is also flush with the bezel and it is using a capacitive touch screen.
Also, the WOW, OMG, and awsome factors are really high with the Aura One. Plus, it makes the Kindle Oasis look like a piece of junk.