VAWvsFMATETF Comparison
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Vanguard Materials ETF (VAW) and Fidelity MSCI Materials Index ETF (FMAT) belong to the same industry segment: US Materials. Both ETFs have the same top 3 sector exposures: and Materials. VAW is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.08% for FMAT. VAW is up 12.42% year-to-date (YTD) with -$80M in YTD flows. FMAT performs better with 13.85% YTD performance, and +$92M in YTD flows. Run a side-by-side ETF comparison of VAW 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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VAW vs FMAT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VAW FMAT | +5.54%+7.16% | +1.10%+2.45% | +12.42%+13.85% | +28.70%+30.33% | +38.51%+41.80% | +38.87%+41.18% |
| Flows | VAW FMAT | +$62M+$54M | +$57M+$80M | -$80M+$92M | +$22M+$100M | -$500M+$4M | -$776M+$61M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VAW FMAT | +21.46%+21.37% | +17.13%+17.10% | +17.51%+17.58% | +19.69%+19.60% |
| Max drawdown | VAW FMAT | -13.41%-13.46% | -13.41%-13.46% | -23.20%-23.21% | -25.44%-25.40% |
| Max drawdown duration | VAW FMAT | 58d57d | 58d57d | 430d430d | 679d679d |
Trading data
VAW | FMAT | |
Last sale 4/29/2026 at 6:20 PM | $229.72 | $58.70 |
| Previous close 04/28/2026 | $232.37 | $59.48 |
| Consolidated volume 04/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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VAW | 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 4/29/2026 at 6:20 PM
Live
Closed
VAW | FMAT | |
|---|---|---|
| Last price | $229.72 | $58.70 |
| 1D performance | -1.14% | -1.31% |
| AuM | $3.08 B | $611.52 M |
| E/R | 0.09% | 0.08% |
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Exposure
Countries
VAW
USA
72.51%
Ireland
21.11%
Other
6.38%
FMAT
USA
72.74%
Ireland
21.62%
Other
5.63%
Sectors
VAW
Materials
77.69%
Other
22.31%
FMAT
Materials
77.83%
Other
22.17%
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Diversification
VAW
Total weight of top 15 holdings out of 15
64.3%
FMAT
Total weight of top 15 holdings out of 15
64.84%
Top 15 holdings
Data as of March 31, 2026
VAW
IE000S9YS762
15.14%
NEWMONT CORP
7.73%
FREEPORT-MCMORAN INC
5.52%
SHERWIN WILLIAMS
4.94%
CRH PLC
4.61%
ECOLAB
4.44%
AIR PRODUCTS AND CHEMICALS
4.05%
CORTEVA INC
3.70%
NUCOR
2.53%
VULCAN MATERIALS
2.35%
MARTIN MARIETTA
2.32%
DOW INC
1.94%
CH1430134226
1.82%
STEEL DYNAMICS
1.63%
PPG INDUSTRIES
1.57%
FMAT
IE000S9YS762
15.55%
NEWMONT CORP
7.29%
FREEPORT-MCMORAN INC
5.39%
SHERWIN WILLIAMS
5.06%
CRH PLC
4.65%
ECOLAB
4.53%
AIR PRODUCTS AND CHEMICALS
4.39%
CORTEVA INC
3.76%
NUCOR
2.55%
VULCAN MATERIALS
2.37%
MARTIN MARIETTA
2.35%
DOW INC
1.89%
CH1430134226
1.85%
STEEL DYNAMICS
1.63%
PPG INDUSTRIES
1.59%
Frequently asked questions about VAW and FMAT
How have the VAW and FMAT ETFs performed in 2026?
As of April 28, 2026, VAW is up 12.42% year-to-date (YTD), while FMAT has returned 13.85%. That puts FMAT better performer ahead so far this year.
Which ETF is attracting more investor money: VAW or FMAT?
Year-to-date, the VAW ETF saw -$80M in flows, compared to +$92M for FMAT.
Which ETF is more volatile: VAW or FMAT?
Over the past year, VAW had a volatility of 17.13%, while FMAT experienced 17.1%.
Which ETF is bigger: VAW or FMAT?
As of April 28, 2026, VAW holds $3.08 B in assets under management (AUM), while FMAT manages $611.52 M.
What sectors do the VAW and FMAT ETFs invest in?
VAW leans toward sectors like Materials. Meanwhile, FMAT focuses on Materials.
What are the top holdings of the VAW ETF and FMAT ETF?
VAW top holdings include IE000S9YS762, NEWMONT CORP and FREEPORT-MCMORAN INC. FMAT holds in its top three: IE000S9YS762, NEWMONT CORP and FREEPORT-MCMORAN INC.
Which ETF is more diversified: VAW or FMAT?
VAW holds 112 securities with 64.3% of its assets in the top 15. FMAT has 104 securities and a top 15 weight of 64.84%.
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Latest news about VAW & FMAT
Tony's ETF Buyer's Guide: Sector ETFs (Vanguard versus State Street SPDR)
December 1, 2023
VAW
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