CGWvsPIOETF Comparison
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Invesco S&P Global Water Index ETF (CGW) and Invesco Global Water ETF (PIO) belong to the same industry segment: Natural Resources. CGW's top 3 sector exposures are Utilities, Industrials and Non-Energy Materials. In contrast, PIO's top sector exposures are Industrials, Utilities and Non-Energy Materials. CGW is less expensive with a Total Expense Ratio (TER) of 0.59%, versus 0.75% for PIO. CGW is up 0.26% year-to-date (YTD) with +$41M in YTD flows. PIO performs worse with -1.99% YTD performance, and -$5M in YTD flows. Run a side-by-side ETF comparison of CGW and PIO below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CGW vs PIO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CGW PIO | -2.70%-3.83% | -0.04%-3.16% | +0.26%-1.99% | +0.09%-3.41% | +35.32%+25.62% | +15.76%+5.19% |
| Flows | CGW PIO | --$2M | +$15M-$2M | +$41M-$5M | +$26M-$5M | -$148M-$54M | -$185M-$59M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CGW PIO | +12.81%+13.82% | +12.96%+15.45% | +13.77%+15.41% | +15.77%+16.59% |
| Max drawdown | CGW PIO | -5.50%-7.71% | -10.52%-13.21% | -14.42%-17.07% | -32.65%-34.20% |
| Max drawdown duration | CGW PIO | 41d41d | 201d201d | 227d227d | 862d819d |
Trading data
CGW | PIO | |
Last sale 9/16/2026 at 1:30 PM | $63.30 | $42.96 |
| Previous close 09/15/2026 | $63.01 | $42.96 |
| Consolidated volume 09/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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CGW | PIO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/16/2026 at 1:30 PM
Live
Closed
CGW | PIO | |
|---|---|---|
| Last price | $63.30 | $42.96 |
| 1D performance | +0.46% | +0.00% |
| AuM | $1.02 B | $259.78 M |
| E/R | 0.59% | 0.75% |
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Exposure
Countries
CGW
USA
57.49%
United Kingdom
14.01%
Brazil
10.44%
Other
18.06%
PIO
USA
43.79%
United Kingdom
14.28%
Japan
9.89%
Brazil
9.89%
Switzerland
8.11%
Other
14.03%
Sectors
CGW
Utilities
45.55%
Industrials
35.95%
Non-Energy Materi.
15.23%
Other
3.27%
PIO
Industrials
39.24%
Utilities
17.69%
Non-Energy Materi.
16.63%
Healthcare
10.85%
Technology
9.94%
Other
5.66%
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Diversification
CGW
Total weight of top 15 holdings out of 15
68.16%
PIO
Total weight of top 15 holdings out of 15
72.85%
Top 15 holdings
Data as of July 31, 2026
CGW
American Water Works Co., Inc.
8.35%
Xylem, Inc.
8.21%
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP
7.29%
Essential Utilities, Inc.
5.88%
United Utilities Group Plc
5.49%
Severn Trent Plc
4.99%
Veralto Corp.
4.83%
Ecolab, Inc.
4.13%
Geberit AG
3.43%
Advanced Drainage Systems, Inc.
3.36%
Watts Water Technologies, Inc.
3.13%
Zurn Elkay Water Solutions Corp.
2.60%
American States Water Co.
2.34%
California Water Service Group
2.10%
Core & Main, Inc.
2.03%
PIO
Roper Technologies, Inc.
9.94%
Ecolab, Inc.
8.79%
Pentair plc
7.45%
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP
6.30%
Ebara Corp.
5.65%
IDEXX Laboratories, Inc.
4.01%
Ferguson Enterprises, Inc.
3.97%
Waters Corp.
3.92%
Veolia Environnement SA
3.92%
Geberit AG
3.87%
Companhia de Saneamento de Minas Gerais
3.59%
Xylem, Inc.
3.09%
American Water Works Co., Inc.
3.00%
Agilent Technologies, Inc.
2.92%
Stantec, Inc.
2.43%
Frequently asked questions about CGW and PIO
How have the CGW and PIO ETFs performed in 2026?
As of September 15, 2026, CGW is up 0.26% year-to-date (YTD), while PIO has lost -1.99%. That puts CGW better performer ahead so far this year.
Which ETF is attracting more investor money: CGW or PIO?
Year-to-date, the CGW ETF saw +$41M in flows, compared to -$5M for PIO.
Which ETF is more volatile: CGW or PIO?
Over the past year, CGW had a volatility of 12.96%, while PIO experienced 15.45%.
Which ETF is bigger: CGW or PIO?
As of September 15, 2026, CGW holds $1.02 B in assets under management (AUM), while PIO manages $259.78 M.
What sectors do the CGW and PIO ETFs invest in?
CGW leans toward sectors like Utilities, Industrials and Non-Energy Materials. Meanwhile, PIO focuses on Industrials, Utilities and Non-Energy Materials.
What are the top holdings of the CGW ETF and PIO ETF?
CGW top holdings include American Water Works Co., Inc., Xylem, Inc. and Companhia de Saneamento Basico do Estado de Sao Paulo SABESP. PIO holds in its top three: Roper Technologies, Inc., Ecolab, Inc. and Pentair plc.
Which ETF is more diversified: CGW or PIO?
CGW holds 66 securities with 68.16% of its assets in the top 15. PIO has 40 securities and a top 15 weight of 72.85%.
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