PYZvsFMATETF Comparison
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Invesco DWA Basic Materials Momentum ETF (PYZ) and Fidelity MSCI Materials Index ETF (FMAT) belong to the same industry segment: US Materials. Both ETFs have the same top 3 sector exposures: Non-Energy Materials, Energy and Industrials. PYZ is more expensive with a Total Expense Ratio (TER) of 0.78%, versus 0.084% for FMAT. PYZ is up 4.31% year-to-date (YTD) with -$17M in YTD flows. FMAT performs better with 9.46% YTD performance, and +$98M in YTD flows. Run a side-by-side ETF comparison of PYZ and FMAT 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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PYZ vs FMAT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PYZ FMAT | -2.88%+0.52% | -3.35%-0.06% | +4.31%+9.46% | +2.95%+12.48% | +53.35%+37.76% | +33.10%+33.38% |
| Flows | PYZ FMAT | --$3M | -$9M+$10M | -$17M+$98M | +$670K+$119M | -$99M+$34M | -$81M+$32M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PYZ FMAT | +18.96%+17.88% | +26.40%+19.17% | +23.01%+18.21% | +24.99%+19.85% |
| Max drawdown | PYZ FMAT | -11.78%-9.33% | -17.60%-13.46% | -26.82%-23.21% | -33.01%-25.40% |
| Max drawdown duration | PYZ FMAT | 60d52d | 91d229d | 233d430d | 1184d679d |
Trading data
PYZ | FMAT | |
Last sale 10/19/2026 at 1:30 PM | $114.73 | $57.55 |
| Previous close 10/16/2026 | $114.32 | $57.53 |
| Consolidated volume 10/16/2026 | ||
| 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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PYZ | FMAT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
PYZ | FMAT | |
|---|---|---|
| Last price | $114.73 | $57.55 |
| 1D performance | +0.36% | +0.03% |
| AuM | $64.06 M | $589.55 M |
| E/R | 0.78% | 0.084% |
Characteristics
PYZ | FMAT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Fidelity |
| Benchmark | Dorsey Wright Basic Materials Technical Leaders Index | MSCI USA IMI Materials 25/50 |
| N° of holdings | 42 | 102 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 12, 2006 | October 21, 2013 |
| ESG | No | No |
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Exposure
Countries
PYZ
USA
95.94%
Other
4.06%
FMAT
USA
80.17%
United Kingdom
15.42%
Other
4.42%
Sectors
PYZ
Non-Energy Materi.
97.9%
Other
2.1%
FMAT
Non-Energy Materi.
99.38%
Other
0.62%
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Diversification
PYZ
Total weight of top 15 holdings out of 15
54.28%
FMAT
Total weight of top 15 holdings out of 15
65.94%
Top 15 holdings
Data as of August 31, 2026
PYZ
ATI, Inc.
7.40%
Carpenter Technology Corp.
6.05%
Hecla Mining Co.
3.74%
Freeport-McMoRan, Inc.
3.65%
Newmont Corp.
3.50%
Nucor Corp.
3.45%
Corteva, Inc.
3.39%
Steel Dynamics, Inc.
3.33%
Air Products & Chemicals, Inc.
3.10%
CF Industries Holdings, Inc.
3.06%
DuPont de Nemours, Inc.
2.87%
NewMarket Corp.
2.81%
Reliance, Inc.
2.74%
Perimeter Solutions, Inc.
2.63%
Royal Gold, Inc.
2.58%
FMAT
Linde Plc
14.37%
Newmont Corp.
8.60%
Freeport-McMoRan, Inc.
6.98%
The Sherwin-Williams Co.
4.99%
Ecolab, Inc.
4.61%
Air Products & Chemicals, Inc.
4.25%
CRH Plc
4.07%
Corteva, Inc.
3.56%
Nucor Corp.
3.53%
Vulcan Materials Co.
2.26%
Steel Dynamics, Inc.
2.04%
Martin Marietta Materials, Inc.
2.02%
PPG Industries, Inc.
1.62%
Smurfit WestRock Plc
1.61%
Royal Gold, Inc.
1.42%
Frequently asked questions about PYZ and FMAT
How have the PYZ and FMAT ETFs performed in 2026?
As of October 16, 2026, PYZ is up 4.31% year-to-date (YTD), while FMAT has returned 9.46%. That puts FMAT better performer ahead so far this year.
Which ETF is attracting more investor money: PYZ or FMAT?
Year-to-date, the PYZ ETF saw -$17M in flows, compared to +$98M for FMAT.
Which ETF is more volatile: PYZ or FMAT?
Over the past year, PYZ had a volatility of 26.4%, while FMAT experienced 19.17%.
Which ETF is bigger: PYZ or FMAT?
As of October 16, 2026, PYZ holds $64.06 M in assets under management (AUM), while FMAT manages $589.55 M.
What sectors do the PYZ and FMAT ETFs invest in?
PYZ leans toward sectors like Non-Energy Materials. Meanwhile, FMAT focuses on Non-Energy Materials.
What are the top holdings of the PYZ ETF and FMAT ETF?
PYZ top holdings include ATI, Inc., Carpenter Technology Corp. and Hecla Mining Co.. FMAT holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: PYZ or FMAT?
PYZ holds 42 securities with 54.28% of its assets in the top 15. FMAT has 103 securities and a top 15 weight of 65.94%.
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