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: and Materials. FMAT is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.09% for VAW. FMAT is up 13.28% year-to-date (YTD) with +$92M in YTD flows. VAW performs better with 14.17% YTD performance, and -$81M 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 04/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMAT VAW | +9.28%+8.18% | +1.66%+2.77% | +13.28%+14.17% | +32.08%+30.20% | +38.30%+39.40% | +41.17%+41.02% |
| Flows | FMAT VAW | +$56M+$56M | +$80M+$84M | +$92M-$81M | +$95M+$21M | +$2M-$488M | +$66M-$763M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMAT VAW | +21.32%+21.28% | +17.21%+17.08% | +17.65%+17.57% | +19.60%+19.68% |
| Max drawdown | FMAT VAW | -13.46%-13.41% | -13.46%-13.41% | -23.21%-23.20% | -25.40%-25.44% |
| Max drawdown duration | FMAT VAW | 53d54d | 53d54d | 430d430d | 679d679d |
Trading data
FMAT | VAW | |
Last sale 4/27/2026 at 1:30 PM | $60.27 | $235.42 |
| Previous close 04/24/2026 | $60.41 | $236.06 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 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 4/27/2026 at 1:30 PM
Live
Closed
FMAT | VAW | |
|---|---|---|
| Last price | $60.27 | $235.42 |
| 1D performance | -0.23% | -0.27% |
| AuM | $608.44 M | $3.13 B |
| E/R | 0.08% | 0.09% |
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Exposure
Countries
FMAT
USA
72.74%
Ireland
21.62%
Other
5.63%
VAW
USA
72.51%
Ireland
21.11%
Other
6.38%
Sectors
FMAT
Materials
77.83%
Other
22.17%
VAW
Materials
77.69%
Other
22.31%
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Diversification
FMAT
Total weight of top 15 holdings out of 15
64.84%
VAW
Total weight of top 15 holdings out of 15
64.3%
Top 15 holdings
Data as of March 31, 2026
FMAT
IE000S9YS762
15.55%
NEWMONT CORP
7.29%
FREEPORT-MCMORAN INC
5.39%
SHERWIN WILLIAMS
5.06%
CRH PLC
4.65%
ECOLAB
4.53%
AIR PRODUCTS AND CHEMICALS
4.39%
CORTEVA INC
3.76%
NUCOR
2.55%
VULCAN MATERIALS
2.37%
MARTIN MARIETTA
2.35%
DOW INC
1.89%
CH1430134226
1.85%
STEEL DYNAMICS
1.63%
PPG INDUSTRIES
1.59%
VAW
IE000S9YS762
15.14%
NEWMONT CORP
7.73%
FREEPORT-MCMORAN INC
5.52%
SHERWIN WILLIAMS
4.94%
CRH PLC
4.61%
ECOLAB
4.44%
AIR PRODUCTS AND CHEMICALS
4.05%
CORTEVA INC
3.70%
NUCOR
2.53%
VULCAN MATERIALS
2.35%
MARTIN MARIETTA
2.32%
DOW INC
1.94%
CH1430134226
1.82%
STEEL DYNAMICS
1.63%
PPG INDUSTRIES
1.57%
Frequently asked questions about FMAT and VAW
How have the FMAT and VAW ETFs performed in 2026?
As of April 23, 2026, FMAT is up 13.28% year-to-date (YTD), while VAW has returned 14.17%. 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 +$92M in flows, compared to -$81M for VAW.
Which ETF is more volatile: FMAT or VAW?
Over the past year, FMAT had a volatility of 17.21%, while VAW experienced 17.08%.
Which ETF is bigger: FMAT or VAW?
As of April 23, 2026, FMAT holds $608.44 M in assets under management (AUM), while VAW manages $3.13 B.
What sectors do the FMAT and VAW ETFs invest in?
FMAT leans toward sectors like Materials. Meanwhile, VAW focuses on Materials.
What are the top holdings of the FMAT ETF and VAW ETF?
FMAT top holdings include IE000S9YS762, NEWMONT CORP and FREEPORT-MCMORAN INC. VAW holds in its top three: IE000S9YS762, NEWMONT CORP and FREEPORT-MCMORAN INC.
Which ETF is more diversified: FMAT or VAW?
FMAT holds 104 securities with 64.84% of its assets in the top 15. VAW has 112 securities and a top 15 weight of 64.3%.
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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
VAW
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