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 +13.3% compared to +3.0%
PIO vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PIO
$281M
Winner
SPY
$735B
Expense Ratio
PIO
0.75%
Winner
SPY
0.09%
Max Drawdown
PIO
65.37%
Winner
SPY
56.47%
Sharpe Ratio
PIO
-0.06
Winner
SPY
1.62
5Y Beta
Winner
PIO
0.75
SPY
1.00
P/E Ratio
PIO
N/A
SPY
28.99
Forward P/E
PIO
N/A
SPY
22.37
5Y Dividends CAGR
Winner
PIO
10.03%
SPY
5.43%
5Y EPS CAGR
PIO
N/A
SPY
26.05%
Debt to Equity
PIO
N/A
SPY
32.40%
P/S Ratio
PIO
N/A
SPY
3.74
P/B Ratio
PIO
N/A
SPY
5.61
PIO vs SPY - Holdings Comparison
PIO and SPY have 9 common holdings. Overlap is 0.28%
PIO's top 25 holdings weight is 94.19%. SPY's top 25 holdings weight is 52.37%.
| Rank | PIO | SPY |
|---|---|---|
| #1 | EBARA CORP (n/a) - 8.83% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO (n/a) - 8.24% | APPLE INC (AAPL) - 7.02% |
| #3 | ROPER TECHNOLOGIES INC (ROP) - 7.99% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | ECOLAB INC (ECL) - 7.20% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | PENTAIR PLC (PNR) - 6.47% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | WATERS CORP (WAT) - 4.63% | BROADCOM INC (AVGO) - 3.10% |
| #7 | VEOLIA ENVIRONNEMENT SA (n/a) - 4.22% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | FERGUSON ENTERPRISES INC (FERG) - 3.80% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | HALMA PLC (n/a) - 3.68% | TESLA INC (TSLA) - 1.89% |
| #10 | AMERICAN WATER WORKS CO INC (AWK) - 3.47% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | STANTEC INC (n/a) - 3.42% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | GEBERIT AG (n/a) - 3.34% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | XYLEM INC (XYL) - 3.05% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | COWAY (n/a) - 3.02% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | VERALTO CORP (VLTO) - 2.72% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | ORGANO CORP (n/a) - 2.62% | INTEL CORP (INTC) - 0.90% |
| #17 | IDEX CORP (IEX) - 2.37% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | BELIMO HOLDING AG (n/a) - 2.37% | VISA INC CLASS A (V) - 0.85% |
| #19 | KURITA WATER INDUSTRIES LTD (n/a) - 2.25% | WALMART INC (WMT) - 0.81% |
| #20 | AECOM (ACM) - 1.93% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | UNITED UTILITIES GROUP PLC CLASS A (n/a) - 1.91% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | SEVERN TRENT PLC (n/a) - 1.88% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | CORE & MAIN INC CLASS A (CNM) - 1.84% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | GEORG FISCHER AG (n/a) - 1.52% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | ARCADIS NV (n/a) - 1.42% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 46 | 505 |
PIO vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
PIO
-4.86%
Winner
SPY
+1.90%
3M
PIO
-4.47%
Winner
SPY
+8.55%
6M
PIO
-1.88%
Winner
SPY
+8.18%
1Y
PIO
+1.70%
Winner
SPY
+25.79%
5Y(CAGR)
PIO
+3.00%
Winner
SPY
+13.32%
10Y(CAGR)
PIO
+8.32%
Winner
SPY
+15.19%
Max(CAGR)
PIO
+4.33%
Winner
SPY
+8.47%
PIO vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PIO | SPY |
|---|---|---|
| 2026 | -1.71% | +8.26% |
| 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 -10.08%. The current SPY drawdown is -2.90%.
| 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 | 0.10% | 0.24% |
| 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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