PIZvsFENIETF Comparison
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Invesco DWA Developed Markets Momentum ETF (PIZ) and Fidelity Enhanced International ETF (FENI) belong to the same industry segment: DM Large & Mid Cap. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. PIZ is more expensive with a Total Expense Ratio (TER) of 0.8%, versus 0.28% for FENI. PIZ is up 4.44% year-to-date (YTD) with +$74M in YTD flows. FENI performs better with 11.5% YTD performance, and +$5.06B in YTD flows. Run a side-by-side ETF comparison of PIZ and FENI 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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PIZ vs FENI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIZ FENI | -4.26%-0.56% | -3.79%+0.14% | +4.44%+11.50% | +8.14%+15.88% | +85.82%n/a | +42.44%n/a |
| Flows | PIZ FENI | -$20M+$392M | -$103M+$1.18B | +$74M+$5.06B | +$127M+$6.03B | +$371M- | +$293M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIZ FENI | +20.61%+9.87% | +23.27%+13.57% | +18.39%n/a | +18.70%n/a |
| Max drawdown | PIZ FENI | -8.77%-5.55% | -15.97%-10.62% | -15.97%n/a | -39.71%n/a |
| Max drawdown duration | PIZ FENI | 60d61d | 163d103d | 163dn/a | 1176dn/a |
Trading data
PIZ | FENI | |
Last sale 10/16/2026 at 1:30 PM | $50.22 | $39.71 |
| Previous close 10/15/2026 | $50.37 | $39.77 |
| Consolidated volume 10/15/2026 | ||
| 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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FENI
is actively managed and doesn’t replicate an indexPIZ | FENI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
PIZ | FENI | |
|---|---|---|
| Last price | $50.22 | $39.71 |
| 1D performance | -0.30% | -0.15% |
| AuM | $610.55 M | $11.62 B |
| E/R | 0.8% | 0.28% |
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Exposure
Countries
PIZ
Canada
20.04%
Japan
14.44%
Republic of Korea
7.82%
Switzerland
7.66%
Other
50.04%
FENI
Japan
22.21%
United Kingdom
13.27%
Switzerland
9.7%
France
8.98%
Germany
8.92%
Netherlands
7.17%
Other
29.75%
Sectors
PIZ
Finance
46.5%
Industrials
25.13%
Technology
14.41%
Other
13.96%
FENI
Finance
28.55%
Industrials
18.56%
Technology
14.2%
Healthcare
9.46%
Other
29.23%
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Diversification
PIZ
Total weight of top 15 holdings out of 15
34.59%
FENI
Total weight of top 15 holdings out of 15
21.58%
Top 15 holdings
Data as of August 31, 2026
PIZ
Constellation Software, Inc.
3.42%
Bombardier, Inc.
2.98%
Toromont Industries Ltd.
2.66%
BELIMO Holding AG
2.52%
Lion Finance Group Plc
2.48%
The Toronto-Dominion Bank
2.46%
HD Hyundai Electric Co., Ltd.
2.40%
Royal Bank of Canada
2.27%
Investor AB
2.24%
Swedbank AB
1.94%
Unipol Assicurazioni SpA
1.93%
SK hynix, Inc.
1.90%
InterContinental Hotels Group Plc
1.88%
Oversea-Chinese Banking Corp. Ltd.
1.78%
BPER Banca SpA
1.76%
FENI
ASML Holding NV
3.56%
Roche Holding AG
1.68%
Nestlé SA
1.65%
Siemens AG
1.52%
UBS Group AG
1.33%
Banco Bilbao Vizcaya Argentaria SA
1.30%
Novartis AG
1.29%
Rolls-Royce Holdings Plc
1.28%
Mitsubishi UFJ Financial Group, Inc.
1.20%
Sony Group Corp.
1.17%
HSBC Holdings Plc
1.16%
Iberdrola SA
1.14%
Recruit Holdings Co., Ltd.
1.11%
Advantest Corp.
1.10%
Siemens Energy AG
1.09%
Frequently asked questions about PIZ and FENI
How have the PIZ and FENI ETFs performed in 2026?
As of October 16, 2026, PIZ is up 4.44% year-to-date (YTD), while FENI has returned 11.5%. That puts FENI better performer ahead so far this year.
Which ETF is attracting more investor money: PIZ or FENI?
Year-to-date, the PIZ ETF saw +$74M in flows, compared to +$5.06B for FENI.
Which ETF is more volatile: PIZ or FENI?
Over the past year, PIZ had a volatility of 23.27%, while FENI experienced 13.57%.
Which ETF is bigger: PIZ or FENI?
As of October 16, 2026, PIZ holds $610.55 M in assets under management (AUM), while FENI manages $11.62 B.
What sectors do the PIZ and FENI ETFs invest in?
PIZ leans toward sectors like Finance, Industrials and Technology. Meanwhile, FENI focuses on Finance, Industrials and Technology.
What are the top holdings of the PIZ ETF and FENI ETF?
PIZ top holdings include Constellation Software, Inc., Bombardier, Inc. and Toromont Industries Ltd.. FENI holds in its top three: ASML Holding NV, Roche Holding AG and Nestlé SA.
Which ETF is more diversified: PIZ or FENI?
PIZ holds 100 securities with 34.59% of its assets in the top 15. FENI has 365 securities and a top 15 weight of 21.58%.
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Latest news about PIZ & FENI
Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs
February 16, 2024
FENI
Fidelity Continues Trend of Mutual Fund Conversions to ETFs
November 27, 2023
FENI
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