The seven-furlong E.P. Taylor turf event is for two-year-old fillies.
After a dramatic stretch battle, even-money choice Koonunga Hill prevailed by a nose over Panther Strike. Freyga closed to be third.
Jockey Constant Montpellier said he didn't anticipate winning the Ice Water on the lead.
"That was Plan B," he said. "We were supposed to let a couple go and try to get her to settle behind horses. She kind of waits on horses. She likes to have a target."
Montpellier abandoned the original strategy at the start of the dash.
"Coming out of (the gate), I was looking around and she was dragging me. Her head was going up in the air. I had to kind of let her go. She (relaxed) on the turn. She made a good run down the stretch. She switched onto her left lead at the end and kind of lost a little momentum. So, when we came to the wire it was really close.
"It's her fifth start this year. (Steve) still had her tank full and sharp as you can have her," added Montpellier.
Owens said the Ontario-bred daughter of Wonneberg is a hardy type of filly.
"She doesn't miss too much training. She'll eat up everything tonight and be back on the track in a day and a half," he explained.
Owens said he looks forward to longer distances with the two-time winner.
"Once they stretch out longer, she'll be an exciting horse to watch," he affirmed.
Koonunga Hill, who shares her name with a brand of wine, returned $4.30, $2.70 and $2.30, combining with Panther Strike ($6.20, $4.60) for a $27 exactor. Freyga ($5.20) rounded out a triactor worth $184.20.
Baytree and Lady Shakespeare were scratched.