Do CGW and TBLU hold the same stocks?

By their latest filings, 57% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

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

CGW has 28% of its weight in S&P 500 names and TBLU has 33%, so CGW differs more from the index.

Which is cheaper, CGW or TBLU?

CGW charges 0.58% a year and TBLU charges 0.40%, so TBLU is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

CGW vs TBLU: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, CGW returned −1.3% to TBLU's −3.8%; 57% of their weight is in the same names.

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Net assets: $1.0bn on Oct 27, 2026 for Invesco S&P Global Water Index ETF, and $53m on May 31, 2026 for Tortoise Global Water ETF.

CGW on its own →TBLU on its own →

At a glance

28.1%

CGW in the S&P 500

33.4%

TBLU in the S&P 500

−1.3%

CGW total return, 1 year

−3.8%

TBLU total return, 1 year

CGW · 1 year to Oct 28, 2026 72% of its weight is outside the S&P 500

28% of CGW's weight is in S&P 500 companies and 72% is outside the index. Holdings as of Oct 27, 2026.

TBLU · 1 year to Oct 28, 2026 67% of its weight is outside the S&P 500

33% of TBLU's weight is in S&P 500 companies and 67% is outside the index. Holdings as of May 31, 2026.

Pair scorecard

TBLU costs 0.18 points a year less; their one-year returns differ by 2.5 points.

Points (pts) are percentage points.

CGW vs TBLU: Holdings Overlap & Returns
Measure	CGW	TBLU
Return
Measure	CGW	TBLU
Total return, 1 year	−1.3%	−3.8%
Drawdown
Measure	CGW	TBLU
Below its all-time high	8.3%, high on Feb 26, 2026	10.5%, high on Feb 26, 2026
Against its benchmark
Measure	CGW	TBLU
What it tracks	Water	Water
Against the S&P 500, 1 year		behind by 17.5 pts
Its benchmark, total return, 1 year	+12.1%	+13.7%
Against its benchmark, 1 year	behind by 13.4 pts	behind by 17.5 pts
Cost and size
Measure	CGW	TBLU
Expense ratio	0.58%	0.40%
Net assets, CGW as of Oct 27, 2026 and TBLU as of May 31, 2026	$1.0bn	$53m
Holdings
Measure	CGW	TBLU
Holdings in common	57%

Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method

What they share

57%

By the books each fund has filed, CGW and TBLU hold 57% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.

50%

0 half 100%

half

57% in common

Positions both hold · largest shared weight first CGW TBLU

American Water Works Co Inc 8.73% 7.07%

Xylem Inc 7.19% 6.89%

United Utilities Group PLC 6.26% 4.18%

Veolia Environnement SA 4.15% 8.20%

Ecolab Inc 4.13% 7.12%

Geberit AG 4.08% 7.01%

Veralto Corp 6.29% 3.70%

Severn Trent PLC 4.44% 3.10%

Pentair PLC 1.71% 3.20%

Essential Utilities Inc 5.61% 1.67%

Advanced Drainage Systems Inc 3.13% 1.59%

Belimo Holding AG 1.58% 3.05%

Only in one fund ↓

Only in CGW

Cia de Saneamento Basico do Estado de Sao Paulo SABESP 4.30%

COPASA 1.21%

YTL Power International Bhd 1.10%

Aalberts NV 0.76%

Cia De Saneamento do Parana Sanepar 0.74%

Coway Co Ltd 0.66%

Sulzer AG 0.63%

Hawkins Inc 0.54%

Only in TBLU

Ferguson Enterprises Inc 7.65%

IDEX Corp 4.45%

Cia de Saneamento Basico do Es 3.96%

Stantec Inc 2.52%

Tetra Tech Inc 1.14%

A O Smith Corp 1.02%

Primo Brands Corp 0.98%

Lixil Corp 0.89%

Check overlap with more funds →

Window by window

Window by window: CGW vs TBLU: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	CGW	TBLU	CGW	TBLU
3 months	−2.3%	−2.4%	−2.6 pts vs EFA	−8.5 pts vs VOO
6 months	−1.7%	−2.1%	−7.1 pts vs EFA	−11.2 pts vs VOO
1 year	−1.3%	−3.8%	−13.4 pts vs EFA	−17.5 pts vs VOO
3 years	+49.9%	+46.8%	−23.2 pts vs EFA	−48.7 pts vs VOO
Since launchNot the same days: CGW May 2007 · TBLU Feb 2017	+273.7%	+134.2%	not measured	−150.7 pts vs VOO

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Side by side

CGW Invesco S&P Global Water Index ETF · Holds 75 stocks in water, 28% of its weight in S&P 500 companies TBLU Tortoise Global Water ETF · Holds 58 stocks in water, 33% of its weight in S&P 500 companies

Issuer Invesco Tortoise

Theme Water Water

In the S&P 500 28.1% 33.4%

Active share vs the S&P 500 99.8% 99.7%

In the Nasdaq-100 0.0% 0.0%

Holdings 75 58

Top ten, share of the fund 55.2% 60.2%

Expense ratio 0.58% 0.40%

Fee for the differing part 0.58% 0.40%

Total return, 1 year −1.3% −3.8%

vs its benchmark −13.4 pts vs EFA −17.5 pts vs VOO

Below its high −8.3% −10.5%

Net assets, CGW as of Oct 27, 2026 and TBLU as of May 31, 2026 $1.0bn $53m

As of Oct 28, 2026. Source: ETFIQ.

57% of the two portfolios are the same securities at the same weight.

Alert

About each fund

CGW

By weight, 28% 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 55% of the fund across 75 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −1.3% with distributions reinvested against +12.1% for its benchmark, the MSCI EAFE Index, so a holder was behind by 13.4 pts. It sits 8.3% below its all-time high of Feb 26, 2026.

TBLU

By weight, 33% of TBLU'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 60% of the fund across 58 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −3.8% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Total Return Index, so a holder was behind by 17.5 pts. It sits 10.5% below its all-time high of Feb 26, 2026.

Questions people ask

Do CGW and TBLU hold the same stocks?: By their latest filings, 57% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, CGW or TBLU?: CGW has 28% of its weight in S&P 500 names and TBLU has 33%, so CGW differs more from the index.
Which is cheaper, CGW or TBLU?: CGW charges 0.58% a year and TBLU charges 0.40%, so TBLU is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →CGW on its own →TBLU on its own →CGW dividend history →CGW holdings →TBLU dividend history →TBLU holdings →Method →Standards and sources →

Sources and dates

CGW filings on SEC EDGAR ↗

CGW prospectus with the expense ratio (SEC) ↗

Invesco page for CGW ↗

TBLU filings on SEC EDGAR ↗

TBLU prospectus with the expense ratio (SEC) ↗

Tortoise website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, CGW against TBLU, data as of Oct 28, 2026. https://etfiq.com/compare/themes/cgw-vs-tblu

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.