PHO vs FIW: Invesco vs First Trust Water ETF
PHO and FIW both invest in water-related companies: utilities, treatment technology, and infrastructure. Both have under $2B AUM, charge over 0.50%, and have very similar holdings. The choice comes down to construction differences.
PHO (Invesco Water Resources) holds 37 water infrastructure and technology companies at 0.59%. FIW (First Trust Water ETF) holds 36 companies at 0.53%. Both fund water-related companies: utilities, treatment equipment, infrastructure, testing, and technology. The overlap between the two portfolios is high. FIW applies a stricter "pure play" screen, requiring companies to derive the majority of their revenue from water-related activities. PHO casts a slightly broader net and includes companies with meaningful but not dominant water exposure. FIW's stricter mandate and lower cost make it the better choice for investors who specifically want water theme purity. Both are small, illiquid funds. Bid-ask spreads should be checked before buying and limit orders used.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
📋 PHO vs FIW — Key Facts Side by Side
| Metric | PHO | FIW |
|---|---|---|
| Fund Name | Invesco Water Resources ETF | First Trust Water ETF |
| Issuer | Invesco | First Trust |
| Tracks Index | Nasdaq OMX US Water Index | ISE Clean Edge Water Index |
| Expense Ratio | 0.59% | 0.53% ✓ |
| Cost per $10K/yr | $59.00 | $53.00 |
| AUM | $2.0B | $1.9B |
| Holdings | 37 | 36 |
| Inception | 2005 | 2007 |
| 1-Year Return | -2.25% | -1.24% |
| 3-Year Return | +7.96% | +8.05% |
| 5-Year Return | +5.18% | +5.52% |
| Dividend Yield | 0.58% | 0.71% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.10% | 0.12% |
Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
📊 PHO vs FIW — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- already use Invesco and prefer staying within one fund family
- want the lowest fees: saves ~$6/yr per $10K vs PHO
- already use First Trust and prefer staying within one fund family
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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❓ PHO vs FIW — Frequently Asked Questions
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