PIO vs SPY
Comparison between INVESCO GLOBAL WATER ETF (PIO, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed PIO, delivering a return of +12.4% compared to +2.3%
PIO vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PIO
$275M
Winner
SPY
$781B
Expense Ratio
PIO
0.75%
Winner
SPY
0.09%
Max Drawdown
PIO
65.37%
Winner
SPY
56.47%
Sharpe Ratio
PIO
-0.28
Winner
SPY
1.12
5Y Beta
Winner
PIO
0.75
SPY
1.00
P/E Ratio
Winner
PIO
25.74
SPY
28.53
Forward P/E
Winner
PIO
19.75
SPY
21.47
PEG Ratio
PIO
1.59
SPY
N/A
5Y Dividends CAGR
Winner
PIO
10.89%
SPY
6.00%
5Y EPS CAGR
PIO
N/A
SPY
25.58%
Debt to Equity
PIO
42.47%
Winner
SPY
32.09%
P/S Ratio
Winner
PIO
3.28
SPY
3.75
P/B Ratio
Winner
PIO
3.32
SPY
5.64
PIO vs SPY - Holdings Comparison
PIO and SPY have 11 common holdings. Overlap is 0.47%
PIO's top 25 holdings weight is 92.62%. SPY's top 25 holdings weight is 51.74%.
| Rank | PIO | SPY |
|---|---|---|
| #1 | ROPER TECHNOLOGIES INC (ROP) - 8.56% | NVIDIA CORP (NVDA) - 7.89% |
| #2 | ECOLAB INC (ECL) - 8.35% | APPLE INC (AAPL) - 7.37% |
| #3 | PENTAIR PLC (PNR) - 8.24% | MICROSOFT CORP (MSFT) - 4.50% |
| #4 | COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO (n/a) - 7.04% | AMAZON.COM INC (AMZN) - 3.82% |
| #5 | EBARA CORP (n/a) - 7.03% | ALPHABET INC CLASS A (GOOGL) - 3.33% |
| #6 | VEOLIA ENVIRONNEMENT SA (n/a) - 4.03% | BROADCOM INC (AVGO) - 2.86% |
| #7 | FERGUSON ENTERPRISES INC (FERG) - 3.89% | ALPHABET INC CLASS C (GOOG) - 2.68% |
| #8 | IDEXX LABORATORIES INC (IDXX) - 3.88% | META PLATFORMS INC CLASS A (META) - 2.29% |
| #9 | WATERS CORP (WAT) - 3.85% | TESLA INC (TSLA) - 1.70% |
| #10 | GEBERIT AG (n/a) - 3.82% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | COMPANIA DE SANEAMENTO DE MINAS GERAIS COPASA MG (n/a) - 3.71% | JPMORGAN CHASE & CO (JPM) - 1.42% |
| #12 | XYLEM INC (XYL) - 2.97% | ELI LILLY AND CO (LLY) - 1.40% |
| #13 | AMERICAN WATER WORKS CO INC (AWK) - 2.80% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #14 | AGILENT TECHNOLOGIES INC (A) - 2.75% | ADVANCED MICRO DEVICES INC (AMD) - 1.32% |
| #15 | HALMA PLC (n/a) - 2.35% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.92% |
| #16 | STANTEC INC (STN) - 2.31% | JOHNSON & JOHNSON (JNJ) - 0.91% |
| #17 | UNITED UTILITIES GROUP PLC CLASS A (n/a) - 2.19% | VISA INC CLASS A (V) - 0.90% |
| #18 | VERALTO CORP (VLTO) - 2.17% | WALMART INC (WMT) - 0.76% |
| #19 | GEA GROUP AG (n/a) - 1.96% | INTEL CORP (INTC) - 0.75% |
| #20 | KURITA WATER INDUSTRIES LTD (n/a) - 1.93% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #21 | BELIMO HOLDING AG (n/a) - 1.92% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #22 | SEVERN TRENT PLC (n/a) - 1.85% | MASTERCARD INC CLASS A (MA) - 0.66% |
| #23 | ORGANO CORP (n/a) - 1.75% | ABBVIE INC (ABBV) - 0.66% |
| #24 | IDEX CORP (IEX) - 1.70% | CATERPILLAR INC (CAT) - 0.65% |
| #25 | COWAY (n/a) - 1.57% | LAM RESEARCH CORP (LRCX) - 0.64% |
| Total Holdings | 51 | 505 |
PIO vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
PIO
-0.24%
Winner
SPY
+0.63%
3M
PIO
-4.62%
Winner
SPY
+4.46%
6M
PIO
-6.49%
Winner
SPY
+7.67%
1Y
PIO
-2.02%
Winner
SPY
+17.68%
5Y(CAGR)
PIO
+2.25%
Winner
SPY
+12.42%
10Y(CAGR)
PIO
+8.42%
Winner
SPY
+14.84%
Max(CAGR)
PIO
+4.34%
Winner
SPY
+8.44%
PIO vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PIO | SPY |
|---|---|---|
| 2026 | -0.83% | +8.63% |
| 2025 | +14.88% | +18.00% |
| 2024 | +0.77% | +25.59% |
| 2023 | +21.34% | +26.72% |
| 2022 | -23.40% | -18.64% |
| 2021 | +26.12% | +30.52% |
| 2020 | +13.96% | +17.28% |
| 2019 | +35.07% | +31.09% |
| 2018 | -9.66% | -5.24% |
| 2017 | +26.39% | +20.78% |
| 2016 | +1.84% | +13.59% |
| 2015 | -7.16% | +1.31% |
| 2014 | +2.10% | +14.56% |
| 2013 | +28.16% | +29.00% |
| 2012 | +14.11% | +14.17% |
| 2011 | -21.57% | +0.85% |
| 2010 | +9.36% | +13.14% |
| 2009 | +36.58% | +22.67% |
| 2008 | -44.55% | -36.25% |
| 2007 | +0.08% | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
PIO vs SPY Drawdown Comparison
The maximum drawdown for PIO was -64.88%, occurring on Mar 9, 2009. Recovery took 1661 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current PIO drawdown is -9.28%. The current SPY drawdown is -2.57%.
| Rank | PIO | SPY |
|---|---|---|
| #1 | -64.88% Oct 31, 2007 - Jun 9, 2014 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -35.76% Feb 19, 2020 - Sep 2, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -34.27% Dec 29, 2021 - Mar 28, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -26.33% May 21, 2015 - Sep 8, 2017 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -17.09% May 15, 2024 - May 15, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -16.95% Jan 22, 2018 - Mar 13, 2019 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -16.14% Jul 13, 2007 - Oct 29, 2007 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -13.88% Jun 20, 2014 - May 14, 2015 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -13.15% Feb 26, 2026 - Mar 27, 2026 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -9.89% Sep 2, 2021 - Dec 29, 2021 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -7.14% Mar 28, 2024 - May 15, 2024 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -6.54% Jan 8, 2021 - Apr 1, 2021 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -6.20% Oct 24, 2025 - Jan 15, 2026 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -5.98% May 3, 2019 - Jun 20, 2019 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -5.80% Oct 12, 2020 - Nov 5, 2020 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between PIO and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
PIO vs SPY dividend yield comparison.
| Year | PIO | SPY |
|---|---|---|
| 2026 | 0.80% | 0.50% |
| 2025 | 1.04% | 1.07% |
| 2024 | 0.78% | 1.21% |
| 2023 | 0.84% | 1.40% |
| 2022 | 1.02% | 1.65% |
| 2021 | 1.19% | 1.20% |
| 2020 | 0.88% | 1.52% |
| 2019 | 1.20% | 1.75% |
| 2018 | 2.00% | 2.04% |
| 2017 | 1.00% | 1.80% |
| 2016 | 1.45% | 2.03% |
| 2015 | 1.63% | 2.06% |
| 2014 | 1.42% | 1.87% |
| 2013 | 1.50% | 1.81% |
| 2012 | 1.82% | 2.18% |
| 2011 | 1.63% | 2.05% |
| 2010 | 0.87% | 1.80% |
| 2009 | 1.27% | 1.95% |
| 2008 | 1.38% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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