Do FIW and PHO hold the same stocks?

By their latest filings, 76% 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, FIW or PHO?

FIW has 48% of its weight in S&P 500 names and PHO has 62%, so FIW differs more from the index.

Which is cheaper, FIW or PHO?

FIW charges 0.50% a year and PHO charges 0.59%, so FIW is cheaper. Fees come from each fund's prospectus.

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FIW vs PHO: which is really different?

FIW and PHO hold 76% of their weight in the same names, and PHO returned −5.4% over the year. First Trust Water ETF and Invesco Water Resources ETF.

48.5%

FIW in the S&P 500

61.5%

PHO in the S&P 500

−6.9%

FIW total return, 1 year

−5.4%

PHO total return, 1 year

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

PHO · 1 year to Sep 30, 202639% of its weight is outside the S&P 500

62% of PHO's weight is in S&P 500 companies and 39% is outside the index

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

FIW 67.9

PHO 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, FIW and PHO hold 76% 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

76% in common

Positions both hold, largest shared weight first

Holding FIW PHO

Agilent Technologies, Inc. 4.75% 4.71%

Waters Corporation 4.48% 7.52%

Ferguson Enterprises Inc. 4.20% 8.35%

Ecolab Inc. 4.10% 8.16%

Veralto Corporation 4.05% 4.00%

IDEXX Laboratories, Inc. 3.97% 6.88%

American Water Works Company, Inc. 3.96% 3.93%

Xylem Inc. 3.89% 3.86%

IDEX Corporation 3.69% 3.52%

Roper Technologies, Inc. 3.48% 6.07%

Jacobs Solutions Inc. 3.84% 2.97%

Pentair Plc 2.78% 3.68%

Only in FIW

Masco Corporation 3.46%

Algonquin Power & Utilities Corp. 1.88%

Fortune Brands Innovations Inc. 1.82%

Primo Brands Corporation (Class A) 1.77%

US Dollar 0.11%

Canadian Dollar 0.00%

Only in PHO

Trimble Inc 3.99%

NWPX Infrastructure Inc 0.53%

Lindsay Corp 0.40%

Gorman-Rupp Co/The 0.34%

Middlesex Water Co 0.19%

Energy Recovery Inc 0.16%

York Water Co/The 0.09%

Invesco Government & Agency Portfolio 0.08%

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

76% 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	FIW	PHO	FIW	PHO	FIW	PHO
3 months	−4.0%	−1.4%	−6.6 pts	−4.0 pts	−6.2 pts	−3.6 pts
6 months	0.0%	+0.6%	−17.0 pts	−16.4 pts	−26.9 pts	−26.2 pts
1 year	−6.9%	−5.4%	−22.6 pts	−21.1 pts	−30.7 pts	−29.2 pts
3 years	+28.1%	+29.6%	−56.9 pts	−55.4 pts	−81.9 pts	−80.3 pts
Since launch FIW Jan 2010 · PHO Jan 2010	+519.2%	+331.4%	−285.5 pts	−473.2 pts	−1218.4 pts	−1406.1 pts

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

On the same fields

FIW

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

PHO

Invesco Water Resources ETF · Holds 42 stocks in water, 62% of its weight in S&P 500 companies

Issuer First Trust Invesco

Theme Water Water

In the S&P 500 48.5% 61.5%

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

In the Nasdaq-100 7.4% 13.0%

Holdings 38 42

Top ten, share of the fund 40.9% 57.5%

Expense ratio 0.50% 0.59%

Fee for the differing part 0.50% 0.59%

Total return, 1 year −6.9% −5.4%

vs the S&P 500 −22.6 pts −21.1 pts

vs the Nasdaq-100 −30.7 pts −29.2 pts

Below its high −9.9% −8.6%

Net assets $1.7bn $1.9bn

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

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.

PHO in plain words

By weight, 62% of PHO'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 58% of the fund across 42 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −5.4% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 21.1 pts. It sits 8.6% below its all-time high of Oct 21, 2025.

Questions people ask

Do FIW and PHO hold the same stocks?: By their latest filings, 76% 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, FIW or PHO?: FIW has 48% of its weight in S&P 500 names and PHO has 62%, so FIW differs more from the index.
Which is cheaper, FIW or PHO?: FIW charges 0.50% a year and PHO charges 0.59%, so FIW is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

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

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

Open data

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