{"url":"https://etfiq.com/rankings/themes-off-index-water","section":"rankings","title":"The water ETFs least like the S&P 500 | ETFIQ","description":"The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, as of Oct 20, 2026.","as_of":"Oct 20, 2026","structured_data":[{"@type":"ItemList","name":"The water ETFs least like the S&P 500","numberOfItems":6,"itemListOrder":"https://schema.org/ItemListOrderDescending","itemListElement":[{"@type":"ListItem","position":1,"name":"AQWA","url":"https://etfiq.com/funds/aqwa"},{"@type":"ListItem","position":2,"name":"CGW","url":"https://etfiq.com/funds/cgw"},{"@type":"ListItem","position":3,"name":"TBLU","url":"https://etfiq.com/funds/tblu"},{"@type":"ListItem","position":4,"name":"PIO","url":"https://etfiq.com/funds/pio"},{"@type":"ListItem","position":5,"name":"FIW","url":"https://etfiq.com/funds/fiw"},{"@type":"ListItem","position":6,"name":"PHO","url":"https://etfiq.com/funds/pho"}]},{"@type":"Dataset","name":"The water ETFs least like the S&P 500","description":"The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, as of Oct 20, 2026.","url":"https://etfiq.com/rankings/themes-off-index-water","dateModified":"2026-10-20","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","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"]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Rankings","item":"https://etfiq.com/rankings/"},{"@type":"ListItem","position":3,"name":"The water ETFs least like the S&P 500","item":"https://etfiq.com/rankings/themes-off-index-water"}]},{"@type":"WebPage","name":"The water ETFs least like the S&P 500","description":"The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, as of Oct 20, 2026.","url":"https://etfiq.com/rankings/themes-off-index-water","dateModified":"2026-10-20","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":2966,"truncated":false,"content":"ETFIQ / Rankings / The water ETFs least like the S&P 500 \n \n As of Oct 20, 2026 . Rebuilt every trading night.\n The water ETFs least like the S&P 500\n See 6 funds ranked by the share of the fund by weight that is held in S&P 500 companies. Updated Oct 20, 2026. Every fund here is sold on water, and they differ in how much of the index they hand you back. The one at the top is the one adding the most that is new.\n The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, as of Oct 20, 2026. Source: ETFIQ. # Ticker Fund Weight in S&P 500 companies Active share Net assets Fee \n 1 AQWA Global X Clean Water ETF 25.4% 99.9% $20m 0.50% \n 2 CGW Invesco S&P Global Water Index ETF 27.7% 99.8% $1.0bn 0.58% \n 3 TBLU Tortoise Global Water ETF 33.4% 99.7% $53m 0.40% \n 4 PIO Invesco Global Water ETF 39.3% 99.5% $270m 0.75% \n 5 FIW First Trust Water ETF 48.8% 99.4% $1.8bn 0.50% \n 6 PHO Invesco Water Resources ETF 61.9% 99.4% $2.0bn 0.59% \n \n Method\n The 6 of 6 ETFs in the water theme with a filed book, least overlap first, each measured against the S&P 500 holdings ETFIQ reads for the same date. Across the funds listed here the weight held in S&P 500 companies runs from 25.4% to 61.9%. A thematic fund is worth its fee only for the part of it you do not already own. The list sorts one published figure, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.\n Where to next\n Every water ETF and what it holds The largest water ETFs Where these figures came from\n Fund holdings from SEC Form N-PORT and from the issuers own daily files SEC EDGAR, full-text search of fund filings SEC Form N-PORT, what a fund filed it holds Rule 19a-1, what a distribution notice must say ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, data as of Oct 20, 2026. https://etfiq.com/rankings/themes-off-index-water Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, data as of Oct 20, 2026. https://etfiq.com/rankings/themes-off-index-water APA ETFIQ. (Oct 20, 2026). The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies. Retrieved from https://etfiq.com/rankings/themes-off-index-water Markdown [The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies (ETFIQ, Oct 20, 2026)](https://etfiq.com/rankings/themes-off-index-water)","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/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, The water ETFs least like the S&P 500, ranked by the share of the fund by weight that is held in S&P 500 companies, data as of Oct 20, 2026. https://etfiq.com/rankings/themes-off-index-water"}