PIOvsCGWETF Comparison
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Invesco Global Water ETF (PIO) and Invesco S&P Global Water Index ETF (CGW) belong to the same industry segment: Natural Resources. PIO's top 3 sector exposures are Industrials, Utilities and Non-Energy Materials. In contrast, CGW's top sector exposures are Utilities, Industrials and Non-Energy Materials. PIO is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.59% for CGW. PIO is down -1.53% year-to-date (YTD) with -$3M in YTD flows. CGW performs better with 1.08% YTD performance, and +$41M in YTD flows. Run a side-by-side ETF comparison of PIO and CGW 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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PIO vs CGW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIO CGW | -6.25%-3.55% | +0.97%+2.99% | -1.53%+1.08% | -2.23%+2.20% | +26.05%+36.47% | +5.15%+16.34% |
| Flows | PIO CGW | -- | -+$15M | -$3M+$41M | -$3M+$26M | -$54M-$148M | -$55M-$185M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIO CGW | +14.52%+12.99% | +15.53%+13.05% | +15.41%+13.79% | +16.59%+15.77% |
| Max drawdown | PIO CGW | -7.27%-4.72% | -13.21%-10.52% | -17.07%-14.42% | -34.20%-32.65% |
| Max drawdown duration | PIO CGW | 36d36d | 196d196d | 227d227d | 819d862d |
Trading data
PIO | CGW | |
Last sale 9/10/2026 at 1:30 PM | $43.07 | $63.45 |
| Previous close 09/10/2026 | $43.48 | $64.09 |
| Consolidated volume 09/10/2026 | ||
| 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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PIO | CGW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/10/2026 at 1:30 PM
Live
Closed
PIO | CGW | |
|---|---|---|
| Last price | $43.07 | $63.45 |
| 1D performance | -0.94% | -1.00% |
| AuM | $263.18 M | $1.03 B |
| E/R | 0.75% | 0.59% |
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Exposure
Countries
PIO
USA
43.79%
United Kingdom
14.28%
Japan
9.89%
Brazil
9.89%
Switzerland
8.11%
Other
14.03%
CGW
USA
57.49%
United Kingdom
14.01%
Brazil
10.44%
Other
18.06%
Sectors
PIO
Industrials
39.24%
Utilities
17.69%
Non-Energy Materi.
16.63%
Healthcare
10.85%
Technology
9.94%
Other
5.66%
CGW
Utilities
45.55%
Industrials
35.95%
Non-Energy Materi.
15.23%
Other
3.27%
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Diversification
PIO
Total weight of top 15 holdings out of 15
72.85%
CGW
Total weight of top 15 holdings out of 15
68.16%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about PIO and CGW
How have the PIO and CGW ETFs performed in 2026?
As of September 10, 2026, PIO is down -1.53% year-to-date (YTD), while CGW has returned 1.08%. That puts CGW better performer ahead so far this year.
Which ETF is attracting more investor money: PIO or CGW?
Year-to-date, the PIO ETF saw -$3M in flows, compared to +$41M for CGW.
Which ETF is more volatile: PIO or CGW?
Over the past year, PIO had a volatility of 15.53%, while CGW experienced 13.05%.
Which ETF is bigger: PIO or CGW?
As of September 10, 2026, PIO holds $263.18 M in assets under management (AUM), while CGW manages $1.03 B.
What sectors do the PIO and CGW ETFs invest in?
PIO leans toward sectors like Industrials, Utilities and Non-Energy Materials. Meanwhile, CGW focuses on Utilities, Industrials and Non-Energy Materials.
What are the top holdings of the PIO ETF and CGW ETF?
PIO top holdings include Roper Technologies, Inc., Ecolab, Inc. and Pentair plc. CGW holds in its top three: American Water Works Co., Inc., Xylem, Inc. and Companhia de Saneamento Basico do Estado de Sao Paulo SABESP.
Which ETF is more diversified: PIO or CGW?
PIO holds 40 securities with 72.85% of its assets in the top 15. CGW has 66 securities and a top 15 weight of 68.16%.
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