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 10.81% year-to-date (YTD) with +$101M in YTD flows. VAW performs better with 10.93% YTD performance, and -$146M 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 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMAT VAW | -4.07%-4.06% | -0.77%-0.73% | +10.81%+10.93% | +10.26%+10.32% | +33.54%+33.71% | +36.14%+36.00% |
| Flows | FMAT VAW | +$9M-$18M | -$3M-$43M | +$101M-$146M | +$124M-$162M | +$34M-$667M | +$10M-$1.33B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMAT VAW | +18.93%+18.02% | +19.15%+18.90% | +18.23%+18.07% | +19.90%+19.88% |
| Max drawdown | FMAT VAW | -6.65%-6.63% | -13.46%-13.41% | -23.21%-23.20% | -25.40%-25.44% |
| Max drawdown duration | FMAT VAW | 52d52d | 194d194d | 430d430d | 679d679d |
Trading data
FMAT | VAW | |
Last sale 9/11/2026 at 1:30 PM | $58.46 | $228.45 |
| Previous close 09/11/2026 | $58.21 | $227.71 |
| Consolidated volume 09/11/2026 | ||
| 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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FMAT | VAW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
FMAT | VAW | |
|---|---|---|
| Last price | $58.46 | $228.45 |
| 1D performance | +0.43% | +0.32% |
| AuM | $601.85 M | $2.96 B |
| E/R | 0.084% | 0.09% |
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Exposure
Countries
FMAT
USA
79.87%
United Kingdom
16.44%
Other
3.7%
VAW
USA
79.91%
United Kingdom
16.17%
Other
3.92%
Sectors
FMAT
Non-Energy Materi.
99.34%
Other
0.66%
VAW
Non-Energy Materi.
99%
Other
1%
Diversification
FMAT
Total weight of top 15 holdings out of 15
66.31%
VAW
Total weight of top 15 holdings out of 15
66.06%
Top 15 holdings
Data as of July 31, 2026
FMAT
Linde Plc
15.46%
Newmont Corp.
6.45%
Freeport-McMoRan, Inc.
5.78%
The Sherwin-Williams Co.
5.43%
Ecolab, Inc.
4.69%
CRH Plc
4.52%
Air Products & Chemicals, Inc.
4.04%
Corteva, Inc.
3.90%
Nucor Corp.
3.85%
Vulcan Materials Co.
2.46%
Steel Dynamics, Inc.
2.33%
Martin Marietta Materials, Inc.
2.29%
PPG Industries, Inc.
1.74%
Smurfit WestRock Plc
1.74%
Amrize Ltd.
1.64%
VAW
Linde Plc
15.08%
Newmont Corp.
6.88%
Freeport-McMoRan, Inc.
6.12%
The Sherwin-Williams Co.
5.45%
Ecolab, Inc.
4.80%
CRH Plc
4.33%
Air Products & Chemicals, Inc.
4.06%
Nucor Corp.
3.89%
Corteva, Inc.
3.59%
Vulcan Materials Co.
2.38%
Steel Dynamics, Inc.
2.35%
Martin Marietta Materials, Inc.
2.15%
PPG Industries, Inc.
1.68%
Amrize Ltd.
1.66%
Smurfit WestRock Plc
1.64%
Frequently asked questions about FMAT and VAW
How have the FMAT and VAW ETFs performed in 2026?
As of September 11, 2026, FMAT is up 10.81% year-to-date (YTD), while VAW has returned 10.93%. 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 -$146M for VAW.
Which ETF is more volatile: FMAT or VAW?
Over the past year, FMAT had a volatility of 19.15%, while VAW experienced 18.9%.
Which ETF is bigger: FMAT or VAW?
As of September 11, 2026, FMAT holds $601.85 M in assets under management (AUM), while VAW manages $2.96 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 101 securities with 66.31% of its assets in the top 15. VAW has 110 securities and a top 15 weight of 66.06%.
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Latest news about FMAT & VAW
Tony's ETF Buyer's Guide: Sector ETFs (Vanguard versus State Street SPDR)
December 1, 2023
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