PYZvsVAWETF Comparison
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Invesco DWA Basic Materials Momentum ETF (PYZ) and Vanguard Materials ETF (VAW) 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 0.09% for VAW. PYZ is up 4.31% year-to-date (YTD) with -$17M in YTD flows. VAW performs better with 9.66% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of PYZ 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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PYZ vs VAW 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 VAW | -2.88%+0.54% | -3.35%+0.03% | +4.31%+9.66% | +2.95%+12.66% | +53.35%+38.04% | +33.10%+33.35% |
| Flows | PYZ VAW | -+$149M | -$9M+$100M | -$17M+$2M | +$670K-$14M | -$99M-$475M | -$81M-$1.12B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PYZ VAW | +18.96%+16.95% | +26.40%+18.92% | +23.01%+18.05% | +24.99%+19.80% |
| Max drawdown | PYZ VAW | -11.78%-9.24% | -17.60%-13.41% | -26.82%-23.20% | -33.01%-25.44% |
| Max drawdown duration | PYZ VAW | 60d52d | 91d229d | 233d430d | 1184d679d |
Trading data
PYZ | VAW | |
Last sale 10/19/2026 at 1:30 PM | $114.73 | $225.37 |
| Previous close 10/16/2026 | $114.32 | $225.12 |
| 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 | 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 10/19/2026 at 1:30 PM
Live
Closed
PYZ | VAW | |
|---|---|---|
| Last price | $114.73 | $225.37 |
| 1D performance | +0.36% | +0.11% |
| AuM | $64.06 M | $3.07 B |
| E/R | 0.78% | 0.09% |
Characteristics
PYZ | VAW | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Vanguard |
| Benchmark | Dorsey Wright Basic Materials Technical Leaders Index | MSCI US IMI Materials 25/50 Index |
| N° of holdings | 42 | 110 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 12, 2006 | January 26, 2004 |
| ESG | No | No |
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Exposure
Countries
PYZ
USA
95.94%
Other
4.06%
VAW
USA
80.35%
United Kingdom
15.65%
Other
4%
Sectors
PYZ
Non-Energy Materi.
97.9%
Other
2.1%
VAW
Non-Energy Materi.
98.64%
Other
1.36%
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Diversification
PYZ
Total weight of top 15 holdings out of 15
54.28%
VAW
Total weight of top 15 holdings out of 15
66.07%
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%
VAW
Linde Plc
14.57%
Newmont Corp.
8.58%
Freeport-McMoRan, Inc.
7.00%
The Sherwin-Williams Co.
4.97%
Ecolab, Inc.
4.61%
Air Products & Chemicals, Inc.
4.14%
CRH Plc
4.05%
Corteva, Inc.
3.64%
Nucor Corp.
3.57%
Vulcan Materials Co.
2.25%
Steel Dynamics, Inc.
2.05%
Martin Marietta Materials, Inc.
2.00%
PPG Industries, Inc.
1.61%
Smurfit WestRock Plc
1.58%
Royal Gold, Inc.
1.43%
Frequently asked questions about PYZ and VAW
How have the PYZ and VAW ETFs performed in 2026?
As of October 16, 2026, PYZ is up 4.31% year-to-date (YTD), while VAW has returned 9.66%. That puts VAW better performer ahead so far this year.
Which ETF is attracting more investor money: PYZ or VAW?
Year-to-date, the PYZ ETF saw -$17M in flows, compared to +$2M for VAW.
Which ETF is more volatile: PYZ or VAW?
Over the past year, PYZ had a volatility of 26.4%, while VAW experienced 18.92%.
Which ETF is bigger: PYZ or VAW?
As of October 16, 2026, PYZ holds $64.06 M in assets under management (AUM), while VAW manages $3.07 B.
What sectors do the PYZ and VAW ETFs invest in?
PYZ leans toward sectors like Non-Energy Materials. Meanwhile, VAW focuses on Non-Energy Materials.
What are the top holdings of the PYZ ETF and VAW ETF?
PYZ top holdings include ATI, Inc., Carpenter Technology Corp. and Hecla Mining Co.. VAW holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: PYZ or VAW?
PYZ holds 42 securities with 54.28% of its assets in the top 15. VAW has 110 securities and a top 15 weight of 66.07%.
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Latest news about PYZ & VAW
Tony's ETF Buyer's Guide: Sector ETFs (Vanguard versus State Street SPDR)
December 1, 2023
VAW
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