{"url":"https://etfiq.com/compare/themes/aqwa-vs-pio","section":"compare","title":"AQWA vs PIO: which is really different? | ETFIQ","description":"19.5% of AQWA and 39.1% of PIO is already in the S&P 500 by weight, as filed, and 25% of the two books are the same names at the same weight.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Do AQWA and PIO hold the same stocks?","acceptedAnswer":{"@type":"Answer","text":"By their latest filings, 25% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share."}},{"@type":"Question","name":"Which is more different from the S&P 500, AQWA or PIO?","acceptedAnswer":{"@type":"Answer","text":"AQWA has 20% of its weight in S&P 500 names and PIO has 39%, so AQWA differs more from the index."}},{"@type":"Question","name":"Which is cheaper, AQWA or PIO?","acceptedAnswer":{"@type":"Answer","text":"AQWA charges 0.50% a year and PIO charges 0.75%, so AQWA is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Thematic ETFs","item":"https://etfiq.com/themes/"},{"@type":"ListItem","position":3,"name":"AQWA vs PIO","item":"https://etfiq.com/compare/themes/aqwa-vs-pio"}]},{"@type":"WebPage","name":"AQWA vs PIO: which is really different?","description":"19.5% of AQWA and 39.1% of PIO is already in the S&P 500 by weight, as filed, and 25% of the two books are the same names at the same weight. Returns and overlap to Sep 30, 2026.","url":"https://etfiq.com/compare/themes/aqwa-vs-pio","dateModified":"2026-09-30","abstract":"AQWA and PIO hold 25% of their weight in the same names, and PIO returned \u22122.9% over the year.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of AQWA and PIO","description":"19.5% of AQWA and 39.1% of PIO is already in the S&P 500 by weight, as filed, and 25% of the two books are the same names at the same weight. Returns and overlap to Sep 30, 2026.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/themes/aqwa-vs-pio","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/thematic.json"}],"variableMeasured":["Weight overlap with the S&P 500","Active share","Holdings","Top ten share of the fund","Total return","Fee for the differing part","Expense ratio"],"keywords":["exchange-traded funds","ETF","Thematic ETFs","fund data","SEC filings"]}],"characters":6887,"truncated":true,"content":"ETFIQ / Thematic ETFs / Head to head / AQWA vs PIO \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n AQWA vs PIO: which is really different?\n\n AQWA and PIO hold 25% of their weight in the same names, and PIO returned \u22122.9% over the year.\n Copy this for sharing \n \n Global X Clean Water ETF and Invesco Global Water ETF.\n\n Download as PDF \n\n 19.5% AQWA in the S&P 500 \n 39.1% PIO in the S&P 500 \n \u22126.1% AQWA total return, 1 year \n \u22122.9% PIO total return, 1 year \n\n ETFIQ Off-Index Score: AQWA scores higher\n How much of it is not the index it is sold as an alternative to?\n [AQWA","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/themes/aqwa-vs-pio","a":{"ticker":"AQWA","name":"Global X Clean Water ETF","issuer":"Global X","desk":"themes","as_of":"2026-09-30","verdict":"AQWA holds 44 stocks, and 80% of its weight is outside the S&P 500.","url":"https://etfiq.com/funds/aqwa","key_facts":[{"label":"Already in the S&P 500","value":"19.5%","as_of":"2026-09-30","source":null},{"label":"Active share vs the S&P 500","value":"99.9%","as_of":"2026-09-30","source":null},{"label":"Top ten holdings","value":"59.0%","as_of":"2026-09-30","source":null},{"label":"Total return, 1 year","value":"\u22126.1%","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$20m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.50%","as_of":"2026-09-30","source":"485BPOS XBRL, Mar 27, 2026"}]},"b":{"ticker":"PIO","name":"Invesco Global Water ETF","issuer":"Invesco","desk":"themes","as_of":"2026-09-30","verdict":"PIO holds 52 stocks, and 61% of its weight is outside the S&P 500.","url":"https://etfiq.com/funds/pio","key_facts":[{"label":"Already in the S&P 500","value":"39.1%","as_of":"2026-09-30","source":null},{"label":"Active share vs the S&P 500","value":"99.5%","as_of":"2026-09-30","source":null},{"label":"Top ten holdings","value":"58.8%","as_of":"2026-09-30","source":null},{"label":"Total return, 1 year","value":"\u22122.9%","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$261m","as_of":"2026-09-30","source":"the issuer\u2019s daily holdings, added up, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.75%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"overlap_pct":25,"full_text_at":"https://etfiq.com/compare/themes/aqwa-vs-pio"}