Water is a great solvent. It’s neutral and doesn’t provide any strong positive or negative effects. It just helps components to mix better and to transport active components.
Iron Oxides are colorants. They give different colors to the product: yellow, red, or black. Different scientific researches show that they are much safer than other organic colorants. That's because they are much more stable and they don’t provoke allergic reactions. Though they can be received from minerals organically, manufacturers don’t use natural Iron Oxides. They chemically synthesize them in a laboratory to get a pure component without extra chemicals.
Glyceryl Stearate SE is a nice moisturizing ingredient. It hydrates the upper layers of the skin and fills small wrinkles. In haircare products, it's used for making hair softer.