Do CGW and FIW hold the same stocks?

By their latest filings, 37% 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.

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

CGW has 26% of its weight in S&P 500 names and FIW has 48%, so CGW differs more from the index.

Which is cheaper, CGW or FIW?

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

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CGW vs FIW: which is really different?

CGW and FIW hold 37% of their weight in the same names, and CGW returned −1.4% over the year. Invesco S&P Global Water Index ETF and First Trust Water ETF.

25.6%

CGW in the S&P 500

48.5%

FIW in the S&P 500

−1.4%

CGW total return, 1 year

−6.9%

FIW total return, 1 year

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

FIW · 1 year to Sep 30, 202652% of its weight is outside the S&P 500

49% of FIW's weight is in S&P 500 companies and 52% is outside the index

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

CGW 78.3

FIW 67.9

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, CGW and FIW hold 37% 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

37% in common

Positions both hold, largest shared weight first

Holding CGW FIW

Ecolab Inc 4.15% 4.10%

Veralto Corp 4.79% 4.05%

American Water Works Co Inc 8.11% 3.96%

Xylem Inc/NY 7.05% 3.89%

Advanced Drainage Systems Inc 3.19% 3.46%

Watts Water Technologies Inc 3.42% 3.07%

Zurn Elkay Water Solutions Corp 2.42% 2.06%

Core & Main Inc 2.06% 2.04%

Pentair PLC 1.50% 2.78%

H2O America 1.70% 1.29%

Franklin Electric Co Inc 1.28% 2.03%

Badger Meter Inc 1.27% 1.93%

Only in CGW

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

Essential Utilities Inc 5.86%

United Utilities Group PLC 5.83%

Severn Trent PLC 5.28%

Geberit AG 3.61%

COPASA 1.90%

Kurita Water Industries Ltd 1.87%

Pennon Group PLC 1.75%

Only in FIW

Agilent Technologies, Inc. 4.75%

Waters Corporation 4.48%

Ferguson Enterprises Inc. 4.20%

IDEXX Laboratories, Inc. 3.97%

Jacobs Solutions Inc. 3.84%

IDEX Corporation 3.69%

Mueller Industries, Inc. 3.60%

Roper Technologies, Inc. 3.48%

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

37% 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	CGW	FIW	CGW	FIW	CGW	FIW
3 months	−4.7%	−4.0%	−7.2 pts	−6.6 pts	−6.8 pts	−6.2 pts
6 months	−3.4%	0.0%	−20.4 pts	−17.0 pts	−30.3 pts	−26.9 pts
1 year	−1.4%	−6.9%	−17.1 pts	−22.6 pts	−25.2 pts	−30.7 pts
3 years	+41.4%	+28.1%	−43.6 pts	−56.9 pts	−68.6 pts	−81.9 pts
Since launch CGW Jan 2010 · FIW Jan 2010	+340.9%	+519.2%	−463.8 pts	−285.5 pts	−1396.7 pts	−1218.4 pts

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

On the same fields

CGW

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

FIW

First Trust Water ETF · Holds 38 stocks in water, 48% of its weight in S&P 500 companies

Issuer Invesco First Trust

Theme Water Water

In the S&P 500 25.6% 48.5%

Active share vs the S&P 500 99.8% 99.4%

In the Nasdaq-100 0.0% 7.4%

Holdings 81 38

Top ten, share of the fund 55.8% 40.9%

Expense ratio 0.58% 0.50%

Fee for the differing part 0.58% 0.50%

Total return, 1 year −1.4% −6.9%

vs the S&P 500 −17.1 pts −22.6 pts

vs the Nasdaq-100 −25.2 pts −30.7 pts

Below its high −9.5% −9.9%

Net assets $1.0bn $1.7bn

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

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.

FIW in plain words

By weight, 48% of FIW's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 41% of the fund across 38 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −6.9% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 22.6 pts. It sits 9.9% below its all-time high of Jan 22, 2026.

Questions people ask

Do CGW and FIW hold the same stocks?: By their latest filings, 37% 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.
Which is more different from the S&P 500, CGW or FIW?: CGW has 26% of its weight in S&P 500 names and FIW has 48%, so CGW differs more from the index.
Which is cheaper, CGW or FIW?: CGW charges 0.58% a year and FIW charges 0.50%, so FIW is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

CGW filings on SEC EDGAR ↗CGW prospectus with the expense ratio (SEC) ↗Invesco page for CGW ↗FIW filings on SEC EDGAR ↗FIW prospectus with the expense ratio (SEC) ↗First Trust page for FIW ↗

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

Open data

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