FMATvsVAWETF Comparison
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Fidelity MSCI Materials Index ETF (FMAT) and Vanguard Materials ETF (VAW) 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 0.09% for VAW. FMAT is up 9.2% year-to-date (YTD) with +$101M in YTD flows. VAW performs better with 9.39% YTD performance, and -$133M in YTD flows. Run a side-by-side ETF comparison of FMAT and VAW 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 VAW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMAT VAW | +1.52%+1.50% | -0.95%-0.87% | +9.20%+9.39% | +12.54%+12.69% | +43.45%+43.73% | +30.37%+30.33% |
| Flows | FMAT VAW | -$3M-$139M | +$12M-$17M | +$101M-$133M | +$124M-$149M | +$41M-$544M | +$37M-$1.27B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMAT VAW | +17.33%+16.36% | +19.12%+18.87% | +18.09%+17.94% | +19.84%+19.80% |
| Max drawdown | FMAT VAW | -9.33%-9.24% | -13.46%-13.41% | -23.21%-23.20% | -25.40%-25.44% |
| Max drawdown duration | FMAT VAW | 62d62d | 239d239d | 430d430d | 679d679d |
Trading data
FMAT | VAW | |
Last sale 10/27/2026 at 1:30 PM | $58.01 | $227.17 |
| Previous close 10/26/2026 | $57.41 | $224.66 |
| Consolidated volume 10/26/2026 | ||
| 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 | VAW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
FMAT | VAW | |
|---|---|---|
| Last price | $58.01 | $227.17 |
| 1D performance | +1.05% | +1.12% |
| AuM | $591.00 M | $2.93 B |
| E/R | 0.084% | 0.09% |
Exposure
Countries
FMAT
USA
80.17%
United Kingdom
15.42%
Other
4.42%
VAW
USA
80.35%
United Kingdom
15.65%
Other
4%
Sectors
FMAT
Non-Energy Materi.
99.38%
Other
0.62%
VAW
Non-Energy Materi.
98.64%
Other
1.36%
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Diversification
FMAT
Total weight of top 15 holdings out of 15
65.94%
VAW
Total weight of top 15 holdings out of 15
66.07%
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%
VAW
Linde Plc
14.57%
Newmont Corp.
8.58%
Freeport-McMoRan, Inc.
7.00%
The Sherwin-Williams Co.
4.97%
Ecolab, Inc.
4.61%
Air Products & Chemicals, Inc.
4.14%
CRH Plc
4.05%
Corteva, Inc.
3.64%
Nucor Corp.
3.57%
Vulcan Materials Co.
2.25%
Steel Dynamics, Inc.
2.05%
Martin Marietta Materials, Inc.
2.00%
PPG Industries, Inc.
1.61%
Smurfit WestRock Plc
1.58%
Royal Gold, Inc.
1.43%
Frequently asked questions about FMAT and VAW
How have the FMAT and VAW ETFs performed in 2026?
As of October 26, 2026, FMAT is up 9.2% year-to-date (YTD), while VAW has returned 9.39%. That puts VAW better performer ahead so far this year.
Which ETF is attracting more investor money: FMAT or VAW?
Year-to-date, the FMAT ETF saw +$101M in flows, compared to -$133M for VAW.
Which ETF is more volatile: FMAT or VAW?
Over the past year, FMAT had a volatility of 19.12%, while VAW experienced 18.87%.
Which ETF is bigger: FMAT or VAW?
As of October 26, 2026, FMAT holds $591.00 M in assets under management (AUM), while VAW manages $2.93 B.
What sectors do the FMAT and VAW ETFs invest in?
FMAT leans toward sectors like Non-Energy Materials. Meanwhile, VAW focuses on Non-Energy Materials.
What are the top holdings of the FMAT ETF and VAW ETF?
FMAT top holdings include Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc.. VAW holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: FMAT or VAW?
FMAT holds 103 securities with 65.94% of its assets in the top 15. VAW has 110 securities and a top 15 weight of 66.07%.
Latest news about FMAT & VAW
ETF Model Portfolios: High Asset, Low Obsolescence (HALO)
October 27, 2026
VAW
Tony's ETF Buyer's Guide: Sector ETFs (Vanguard versus State Street SPDR)
December 1, 2023
VAW
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