PIOvsPHOETF Comparison
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Invesco Global Water ETF (PIO) and Invesco Water Resources ETF (PHO) belong to the same industry segment: Natural Resources. PIO's top 3 sector exposures are Industrials, Utilities and Non-Energy Materials. In contrast, PHO's top sector exposures are Industrials, Healthcare and Non-Energy Materials. PIO is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.59% for PHO. PIO is down -1.18% year-to-date (YTD) with -$5M in YTD flows. PHO performs worse with -2.35% YTD performance, and -$106M in YTD flows. Run a side-by-side ETF comparison of PIO and PHO 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 PHO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIO PHO | -5.59%-6.20% | +0.39%+3.32% | -1.18%-2.35% | -3.28%-4.73% | +26.50%+26.53% | +6.21%+21.41% |
| Flows | PIO PHO | -$2M-$27M | -$2M-$91M | -$5M-$106M | -$5M-$207M | -$56M-$334M | -$57M-$416M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIO PHO | +14.42%+17.59% | +15.47%+15.86% | +15.40%+16.65% | +16.59%+18.45% |
| Max drawdown | PIO PHO | -7.27%-7.22% | -13.21%-13.83% | -17.07%-19.26% | -34.20%-28.58% |
| Max drawdown duration | PIO PHO | 37d33d | 197d325d | 227d250d | 819d715d |
Trading data
PIO | PHO | |
Last sale 9/14/2026 at 2:37 PM | $43.09 | $68.63 |
| Previous close 09/11/2026 | $43.26 | $68.49 |
| 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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PIO | PHO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/14/2026 at 2:37 PM
Live
Closed
PIO | PHO | |
|---|---|---|
| Last price | $43.09 | $68.63 |
| 1D performance | -0.39% | +0.20% |
| AuM | $261.95 M | $1.93 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%
PHO
USA
95.25%
Other
4.75%
Sectors
PIO
Industrials
39.24%
Utilities
17.69%
Non-Energy Materi.
16.63%
Healthcare
10.85%
Technology
9.94%
Other
5.66%
PHO
Industrials
45.27%
Healthcare
17.07%
Non-Energy Materi.
15.54%
Technology
14.66%
Utilities
7.47%
Other
0%
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Diversification
PIO
Total weight of top 15 holdings out of 15
72.85%
PHO
Total weight of top 15 holdings out of 15
73.01%
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%
PHO
Roper Technologies, Inc.
9.37%
Ecolab, Inc.
8.29%
Waters Corp.
6.69%
Ferguson Enterprises, Inc.
6.57%
IDEXX Laboratories, Inc.
6.51%
Veralto Corp.
4.49%
American Water Works Co., Inc.
4.19%
Xylem, Inc.
4.17%
Agilent Technologies, Inc.
3.87%
IDEX Corp.
3.61%
Jacobs Solutions, Inc.
3.33%
Pentair plc
3.17%
AECOM
3.01%
Trimble, Inc.
2.94%
Advanced Drainage Systems, Inc.
2.80%
Frequently asked questions about PIO and PHO
How have the PIO and PHO ETFs performed in 2026?
As of September 11, 2026, PIO is down -1.18% year-to-date (YTD), while PHO has lost -2.35%. That puts PIO better performer ahead so far this year.
Which ETF is attracting more investor money: PIO or PHO?
Year-to-date, the PIO ETF saw -$5M in flows, compared to -$106M for PHO.
Which ETF is more volatile: PIO or PHO?
Over the past year, PIO had a volatility of 15.47%, while PHO experienced 15.86%.
Which ETF is bigger: PIO or PHO?
As of September 11, 2026, PIO holds $261.95 M in assets under management (AUM), while PHO manages $1.93 B.
What sectors do the PIO and PHO ETFs invest in?
PIO leans toward sectors like Industrials, Utilities and Non-Energy Materials. Meanwhile, PHO focuses on Industrials, Healthcare and Non-Energy Materials.
What are the top holdings of the PIO ETF and PHO ETF?
PIO top holdings include Roper Technologies, Inc., Ecolab, Inc. and Pentair plc. PHO holds in its top three: Roper Technologies, Inc., Ecolab, Inc. and Waters Corp..
Which ETF is more diversified: PIO or PHO?
PIO holds 40 securities with 72.85% of its assets in the top 15. PHO has 40 securities and a top 15 weight of 73.01%.
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