FIW vs. PIO
Compare and contrast key facts about First Trust Water ETF (FIW) and Invesco Global Water ETF (PIO).
FIW and PIO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FIW is a passively managed fund by First Trust that tracks the performance of the ISE Clean Edge Water Index. It was launched on May 8, 2007. PIO is a passively managed fund by Invesco that tracks the performance of the NASDAQ OMX Global Water Index. It was launched on Jun 13, 2007. Both FIW and PIO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FIW or PIO.
Key characteristics
| FIW | PIO | |
|---|---|---|
| YTD Return | 16.70% | 5.87% |
| 1Y Return | 34.54% | 23.80% |
| 3Y Return (Ann) | 6.21% | 0.03% |
| 5Y Return (Ann) | 14.94% | 8.61% |
| 10Y Return (Ann) | 13.42% | 7.25% |
| Sharpe Ratio | 2.32 | 1.69 |
| Sortino Ratio | 3.26 | 2.34 |
| Omega Ratio | 1.40 | 1.29 |
| Calmar Ratio | 3.01 | 1.22 |
| Martin Ratio | 12.48 | 6.69 |
| Ulcer Index | 2.90% | 3.80% |
| Daily Std Dev | 15.61% | 15.08% |
| Max Drawdown | -52.75% | -64.91% |
| Current Drawdown | -0.68% | -3.90% |
Correlation
The correlation between FIW and PIO is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FIW vs. PIO - Performance Comparison
In the year-to-date period, FIW achieves a 16.70% return, which is significantly higher than PIO's 5.87% return. Over the past 10 years, FIW has outperformed PIO with an annualized return of 13.42%, while PIO has yielded a comparatively lower 7.25% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FIW vs. PIO - Expense Ratio Comparison
FIW has a 0.54% expense ratio, which is lower than PIO's 0.75% expense ratio.
Risk-Adjusted Performance
FIW vs. PIO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Water ETF (FIW) and Invesco Global Water ETF (PIO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
FIW vs. PIO - Dividend Comparison
FIW's dividend yield for the trailing twelve months is around 0.58%, less than PIO's 0.82% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIW First Trust Water ETF | 0.58% | 0.68% | 0.67% | 0.37% | 0.56% | 0.55% | 0.73% | 1.13% | 0.51% | 0.76% | 0.75% | 0.63% |
PIO Invesco Global Water ETF | 0.82% | 0.84% | 1.02% | 1.19% | 0.88% | 1.19% | 2.00% | 1.00% | 1.45% | 1.62% | 1.42% | 1.50% |
Drawdowns
FIW vs. PIO - Drawdown Comparison
The maximum FIW drawdown since its inception was -52.75%, smaller than the maximum PIO drawdown of -64.91%. Use the drawdown chart below to compare losses from any high point for FIW and PIO. For additional features, visit the drawdowns tool.
Volatility
FIW vs. PIO - Volatility Comparison
First Trust Water ETF (FIW) has a higher volatility of 4.24% compared to Invesco Global Water ETF (PIO) at 3.85%. This indicates that FIW's price experiences larger fluctuations and is considered to be riskier than PIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.