pond vs water hole

pond and water hole both are nouns.

Word	Noun	Adjective	Verb	Adverb
pond	Yes	No	No	No
water hole	Yes	No	No	No

As nouns, water hole is a hyponym of pond; that is, water hole is a word with a more specific, narrower meaning than pond:

Other hyponyms of pond include fishpond, horsepond, mere, millpond, swimming hole.

pond (noun)	water hole (noun)
a small lake	a natural hole or hollow containing water