If its fresh water the loss is minimal, but you have to clean the terminals every so often.
Of course, you have to know exactly how fresh the fresh water is. Any mineral content, be it from dissolved limestone if its that kind of area, acid rain if it isn't, agricultural runoff or a lot of wildlife in the area, will turn the water into electrolyte. The cleaning is likely to be often rather than occasional, and I would consider a waterproof cover of some description for when its in water. Duct tape rules.
Any battery should only vent when the charging is outside limits, and is doom to any sealed battery, since that which is vented is something that is needed on the inside, and cannot be replaced. The venting is just a safety feature to stop the thing exploding due to excess internal pressure, and intended to extend your life rather than that of the battery.