FMATvsPYZETF Comparison
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Fidelity MSCI Materials Index ETF (FMAT) and Invesco DWA Basic Materials Momentum ETF (PYZ) belong to the same industry segment: US Materials. Both ETFs have the same top 3 sector exposures: Non-Energy Materials, Energy and Industrials. FMAT is less expensive with a Total Expense Ratio (TER) of 0.084%, versus 0.78% for PYZ. FMAT is up 10.65% year-to-date (YTD) with +$101M in YTD flows. PYZ performs worse with 3.91% YTD performance, and -$17M in YTD flows. Run a side-by-side ETF comparison of FMAT and PYZ 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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FMAT vs PYZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMAT PYZ | +2.86%-0.06% | -0.94%-5.18% | +10.65%+3.91% | +14.01%+6.52% | +44.14%+59.27% | +32.88%+31.58% |
| Flows | FMAT PYZ | -$3M- | +$12M-$6M | +$101M-$17M | +$124M+$670K | +$41M-$70M | +$37M-$81M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMAT PYZ | +17.15%+19.71% | +19.11%+25.93% | +18.10%+22.99% | +19.83%+24.98% |
| Max drawdown | FMAT PYZ | -9.33%-13.48% | -13.46%-17.60% | -23.21%-26.82% | -25.40%-33.01% |
| Max drawdown duration | FMAT PYZ | 64d72d | 241d91d | 430d233d | 679d1184d |
Trading data
FMAT | PYZ | |
Last sale 10/29/2026 at 5:37 PM | $58.51 | $113.57 |
| Previous close 10/28/2026 | $58.15 | $113.54 |
| Consolidated volume 10/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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FMAT | PYZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/29/2026 at 5:37 PM
Live
Closed
FMAT | PYZ | |
|---|---|---|
| Last price | $58.51 | $113.57 |
| 1D performance | +0.62% | +0.03% |
| AuM | $598.85 M | $63.82 M |
| E/R | 0.084% | 0.78% |
Characteristics
FMAT | PYZ | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Fidelity | Invesco |
| Benchmark | MSCI USA IMI Materials 25/50 | Dorsey Wright Basic Materials Technical Leaders Index |
| N° of holdings | 102 | 42 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 21, 2013 | October 12, 2006 |
| ESG | No | No |
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Exposure
Countries
FMAT
USA
80.17%
United Kingdom
15.42%
Other
4.42%
PYZ
USA
95.94%
Other
4.06%
Sectors
FMAT
Non-Energy Materi.
99.38%
Other
0.62%
PYZ
Non-Energy Materi.
97.9%
Other
2.1%
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Diversification
FMAT
Total weight of top 15 holdings out of 15
65.94%
PYZ
Total weight of top 15 holdings out of 15
54.28%
Top 15 holdings
Data as of August 31, 2026
FMAT
Linde Plc
14.37%
Newmont Corp.
8.60%
Freeport-McMoRan, Inc.
6.98%
The Sherwin-Williams Co.
4.99%
Ecolab, Inc.
4.61%
Air Products & Chemicals, Inc.
4.25%
CRH Plc
4.07%
Corteva, Inc.
3.56%
Nucor Corp.
3.53%
Vulcan Materials Co.
2.26%
Steel Dynamics, Inc.
2.04%
Martin Marietta Materials, Inc.
2.02%
PPG Industries, Inc.
1.62%
Smurfit WestRock Plc
1.61%
Royal Gold, Inc.
1.42%
PYZ
ATI, Inc.
7.40%
Carpenter Technology Corp.
6.05%
Hecla Mining Co.
3.74%
Freeport-McMoRan, Inc.
3.65%
Newmont Corp.
3.50%
Nucor Corp.
3.45%
Corteva, Inc.
3.39%
Steel Dynamics, Inc.
3.33%
Air Products & Chemicals, Inc.
3.10%
CF Industries Holdings, Inc.
3.06%
DuPont de Nemours, Inc.
2.87%
NewMarket Corp.
2.81%
Reliance, Inc.
2.74%
Perimeter Solutions, Inc.
2.63%
Royal Gold, Inc.
2.58%
Frequently asked questions about FMAT and PYZ
How have the FMAT and PYZ ETFs performed in 2026?
As of October 28, 2026, FMAT is up 10.65% year-to-date (YTD), while PYZ has returned 3.91%. That puts FMAT better performer ahead so far this year.
Which ETF is attracting more investor money: FMAT or PYZ?
Year-to-date, the FMAT ETF saw +$101M in flows, compared to -$17M for PYZ.
Which ETF is more volatile: FMAT or PYZ?
Over the past year, FMAT had a volatility of 19.11%, while PYZ experienced 25.93%.
Which ETF is bigger: FMAT or PYZ?
As of October 28, 2026, FMAT holds $598.85 M in assets under management (AUM), while PYZ manages $63.82 M.
What sectors do the FMAT and PYZ ETFs invest in?
FMAT leans toward sectors like Non-Energy Materials. Meanwhile, PYZ focuses on Non-Energy Materials.
What are the top holdings of the FMAT ETF and PYZ ETF?
FMAT top holdings include Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc.. PYZ holds in its top three: ATI, Inc., Carpenter Technology Corp. and Hecla Mining Co..
Which ETF is more diversified: FMAT or PYZ?
FMAT holds 103 securities with 65.94% of its assets in the top 15. PYZ has 42 securities and a top 15 weight of 54.28%.
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