Do AQWA and CGW hold the same stocks?

By their latest filings, 58% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, AQWA or CGW?

AQWA has 20% of its weight in S&P 500 names and CGW has 26%, so AQWA differs more from the index.

Which is cheaper, AQWA or CGW?

AQWA charges 0.50% a year and CGW charges 0.58%, so AQWA is cheaper. Fees come from each fund's prospectus.

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AQWA vs CGW: which is really different?

AQWA and CGW hold 58% of their weight in the same names, and CGW returned −1.4% over the year. Global X Clean Water ETF and Invesco S&P Global Water Index ETF.

19.5%

AQWA in the S&P 500

25.6%

CGW in the S&P 500

−6.1%

AQWA total return, 1 year

−1.4%

CGW total return, 1 year

AQWA · 1 year to Sep 30, 202681% of its weight is outside the S&P 500

20% of AQWA's weight is in S&P 500 companies and 81% is outside the index

CGW · 1 year to Sep 30, 202674% of its weight is outside the S&P 500

26% of CGW's weight is in S&P 500 companies and 74% is outside the index

ETFIQ Off-Index Score · AQWA scores higherHow much of it is not the index it is sold as an alternative to?

AQWA 82.3

CGW 78.3

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, AQWA and CGW hold 58% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 30, 2026.

50%

half

58% in common

Positions both hold, largest shared weight first

Holding AQWA CGW

AMERICAN WATER WORKS CO INC 8.28% 8.11%

XYLEM INC 7.37% 7.05%

ESSENTIAL UTILITIES INC 6.17% 5.86%

UNITED UTILITIES GROUP PLC 7.34% 5.83%

SEVERN TRENT PLC 4.77% 5.28%

WATTS WATER TECHNOLOGIES-A 4.48% 3.42%

ADVANCED DRAINAGE SYSTEMS IN 4.08% 3.19%

ZURN ELKAY WATER SOLUTIONS CORPORATION 4.17% 2.42%

CORE & MAIN INC-CLASS A 4.38% 2.06%

AMERICAN STATES WATER CO 1.98% 2.27%

KURITA WATER INDUSTRIES LTD 2.95% 1.87%

CALIFORNIA WATER SERVICE GRP 1.74% 1.95%

Only in AQWA

FERGUSON ENTERPRISES INC 7.92%

SMITH (A.O.) CORP 3.75%

PRIMO BRANDS CORP 2.74%

GUANGDONG INVESTMENT LTD 1.89%

BEIJING CAPITAL ECO-ENVIRO-A 1.83%

CIA SANEAMENTO MINAS GERAIS 1.26%

KEPPEL INFRASTRUCTURE TRUST 1.21%

CHENGDU XINGRONG ENVIRONME-A 0.80%

Only in CGW

Cia de Saneamento Basico do Estado de Sao Paulo SABESP 7.73%

Veralto Corp 4.79%

Ecolab Inc 4.15%

Geberit AG 3.61%

COPASA 1.90%

Pennon Group PLC 1.75%

Belimo Holding AG 1.67%

Select Water Solutions Inc 1.64%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

58% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	AQWA	CGW	AQWA	CGW	AQWA	CGW
3 months	−7.0%	−4.7%	−9.6 pts	−7.2 pts	−9.2 pts	−6.8 pts
6 months	−5.8%	−3.4%	−22.8 pts	−20.4 pts	−32.7 pts	−30.3 pts
1 year	−6.1%	−1.4%	−21.8 pts	−17.1 pts	−29.9 pts	−25.2 pts
3 years	+32.0%	+41.4%	−53.0 pts	−43.6 pts	−78.0 pts	−68.6 pts
Since launch AQWA Apr 2021 · CGW Jan 2010	+26.9%	+340.9%	−72.5 pts	−463.8 pts	−100.0 pts	−1396.7 pts

AQWA and CGW over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AQWA

Global X Clean Water ETF · Holds 44 stocks in water, 20% of its weight in S&P 500 companies

CGW

Invesco S&P Global Water Index ETF · Holds 81 stocks in water, 26% of its weight in S&P 500 companies

Issuer Global X Invesco

Theme Water Water

In the S&P 500 19.5% 25.6%

Active share vs the S&P 500 99.9% 99.8%

In the Nasdaq-100 0.0% 0.0%

Holdings 44 81

Top ten, share of the fund 59.0% 55.8%

Expense ratio 0.50% 0.58%

Fee for the differing part 0.50% 0.58%

Total return, 1 year −6.1% −1.4%

vs the S&P 500 −21.8 pts −17.1 pts

vs the Nasdaq-100 −29.9 pts −25.2 pts

Below its high −13.4% −9.5%

Net assets $20m $1.0bn

AQWA and CGW on the same fields, as of Sep 30, 2026. Source: ETFIQ.

AQWA in plain words

By weight, 20% of AQWA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 59% of the fund across 44 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −6.1% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 21.8 pts. It sits 13.4% below its all-time high of Feb 26, 2026.

CGW in plain words

By weight, 26% of CGW's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 56% of the fund across 81 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −1.4% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 17.1 pts. It sits 9.5% below its all-time high of Feb 26, 2026.

Questions people ask

Do AQWA and CGW hold the same stocks?: By their latest filings, 58% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, AQWA or CGW?: AQWA has 20% of its weight in S&P 500 names and CGW has 26%, so AQWA differs more from the index.
Which is cheaper, AQWA or CGW?: AQWA charges 0.50% a year and CGW charges 0.58%, so AQWA is cheaper. Fees come from each fund's prospectus.

Other comparisons

AQWA vs FIW AQWA vs PHO AQWA vs PIO CGW vs FIW CGW vs PHO CGW vs PIO

AQWA on its own →CGW on its own →How every figure is computed →Standards and sources →

Where these figures came from

AQWA filings on SEC EDGAR ↗AQWA prospectus with the expense ratio (SEC) ↗Global X page for AQWA ↗CGW filings on SEC EDGAR ↗CGW prospectus with the expense ratio (SEC) ↗Invesco page for CGW ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AQWA against CGW, data as of Sep 30, 2026. https://etfiq.com/compare/themes/aqwa-vs-cgw

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.