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PIO holdings and overlap
What does PIO hold, as of its issuer file of 2026-09-05?
PIO holds 39 positions as of the issuer file dated 2026-09-05. The three largest are Roper Technologies Inc at 9.88%, Ecolab Inc at 8.62% and Pentair PLC at 6.71%; half of the fund sits in its ten largest names.
| Rank | Company | Weight | Weight bar |
|---|---|---|---|
| 1 | ROP Roper Technologies Inc | 9.88% | |
| 2 | ECL Ecolab Inc | 8.62% | |
| 3 | PNR Pentair PLC | 6.71% | |
| 4 | SBSP3 Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 6.29% | |
| 5 | 6361 Ebara Corp | 5.57% | |
| 6 | WAT Waters Corp | 4.22% | |
| 7 | GEBN Geberit AG | 4.19% | |
| 8 | FERG Ferguson Enterprises Inc | 4.01% | |
| 9 | IDXX IDEXX Laboratories Inc | 3.75% | |
| 10 | VIE Veolia Environnement SA | 3.61% | |
| 11 | CSMG3 Copasa | 3.25% | |
| 12 | A Agilent Technologies Inc | 3.13% | |
| 13 | AWK American Water Works Co Inc | 3.05% | |
| 14 | XYL Xylem Inc/NY | 2.67% | |
| 15 | STN Stantec Inc | 2.49% | |
| 16 | HLMA Halma PLC | 2.38% | |
| 17 | VLTO Veralto Corp | 2.29% | |
| 18 | UU. United Utilities Group PLC | 2.28% | |
| 19 | G1A GEA Group AG | 2.18% | |
| 20 | 021240 Coway Co Ltd | 2.07% | |
| 21 | BEAN Belimo Holding AG | 2.0% | |
| 22 | SVT Severn Trent PLC | 1.91% | |
| 23 | 6370 Kurita Water Industries Ltd | 1.77% | |
| 24 | IEX IDEX Corp | 1.75% | |
| 25 | GF Georg Fischer AG | 1.66% | |
| 26 | 6368 Organo Corp | 1.52% | |
| 27 | JSAW Jindal Saw Ltd | 1.31% | |
| 28 | ASTRA Astral Ltd | 0.93% | |
| 29 | SUN Sulzer AG | 0.93% | |
| 30 | ARCAD Arcadis NV | 0.74% | |
| 31 | 6005 Miura Co Ltd | 0.59% | |
| 32 | VATW VA Tech Wabag Ltd | 0.58% | |
| 33 | GEN Genuit Group PLC | 0.46% | |
| 34 | CWCO Consolidated Water Co Ltd | 0.34% | |
| 35 | 6498 Kitz Corp | 0.29% | |
| 36 | 9551 METAWATER Co Ltd | 0.22% | |
| 37 | 6328 Ebara Jitsugyo Co Ltd | 0.09% | |
| 38 | MWC Manila Water Co Inc | 0.09% | |
| 39 | KSB KSB SE & Co KGaA | 0.02% |
Issuer file -1 days old on 2026-09-04, against a median of 1 across the funds with a page. Every one of the 39 positions with its weight is in the fund's JSON file. See which other ETFs hold ROP, and at what weight.
What does PIO duplicate?
The fund nearest to PIO is PHO: the two hold 46.1% of their weight in common, in the 13 companies both own, and 53.0% of PIO itself is also held there. Owning PIO alongside the funds at the top of this table means about half of the weight is held twice.
| Fund | Overlap by weight | Of PIO held there | Of that fund in PIO | Companies in both | Overlap bar |
|---|---|---|---|---|---|
| PHO | 46.1% | 53.0% | 61.5% | 13 | |
| CGW | 37.9% | 54.7% | 59.0% | 21 | |
| EFRA | 27.5% | 38.9% | 42.5% | 14 | |
| EWL | 12.1% | 16.1% | 16.1% | 3 | |
| POWA | 8.6% | 20.8% | 8.6% | 4 | |
| BMED | 6.0% | 14.1% | 6.1% | 2 | |
| IYM | 5.9% | 8.6% | 5.9% | 1 | |
| RSPN | 5.9% | 17.5% | 5.9% | 5 | |
| DWX | 5.4% | 7.8% | 5.4% | 3 | |
| IXJ | 5.2% | 21.0% | 5.3% | 4 | |
| IDHQ | 5.2% | 14.1% | 5.2% | 2 | |
| CZA | 5.1% | 9.9% | 5.2% | 4 |
From each issuer's latest file. Check PIO against any fund in the ETF overlap calculator · how overlap is measured.
What adds something different to PIO?
VDE shares 0% of weight with PIO and its weekly returns correlate with it at 0.09 over three years. The table lists the covered funds with the least in common with PIO, least shared weight first and, among equals, lowest correlation.
| Fund | Name | Overlap by weight | Correlation, 3y | Companies in both |
|---|---|---|---|---|
| VDE | Vanguard Energy ETF | 0.0% | 0.09 | 0 |
| VDC | Vanguard Consumer Staples ETF | 0.0% | 0.51 | 0 |
| VOX | Vanguard Communication Services ETF | 0.0% | 0.59 | 0 |
| XMMO | Invesco S&P MidCap Momentum ETF | 0.0% | 0.73 | 0 |
| VCR | Vanguard Consumer Discretionary ETF | 0.0% | 0.73 | 0 |
| MGV | Vanguard Morningstar Mega Cap Value ETF | 0.0% | 0.76 | 0 |
| VIOO | Vanguard S&P Small-Cap 600 ETF | 0.0% | 0.77 | 0 |
| VBK | Vanguard Morningstar Small-Cap Growth ETF | 0.0% | 0.78 | 0 |
Cost, returns and risk
| Expense ratio | 0.75% |
|---|---|
| Dividend yield | 0.90% |
| Total return, 1 year | -0.8% |
| Total return, 3 years cumulative | 30.9% |
| Total return, 5 years cumulative | 8.2% |
| Volatility, annualised | 16.0% |
| Worst fall, 3 years | -13.4% |
| Beta against SPY, 3 years of weekly returns | 0.83 |
| Weight in the ten largest positions | 56.9% |
| Largest single position | 9.9% |
| Assets under management | $0.3B |
Expense ratio, yield and assets are reference data; every other figure is computed here from weekly closes.
How it moves with the market
| Against | Correlation, 3 years | Covariance, annualised, in percent squared |
|---|---|---|
| SPY | 0.75often in step | 173 |
| QQQ | 0.64loosely linked | 201 |
Weekly total returns. What the bands mean · why the covariance is printed.
Year by year
| Year | Total return |
|---|---|
| 2026 | 1.0% |
| 2025 | 14.2% |
| 2024 | -0.4% |
| 2023 | 22.2% |
| 2022 | -24.1% |
One year
Where to go next
- RSPM, Invesco S&P 500 Equal Weight Materials ETF
- VAW, Vanguard Materials ETF
- VEGI, iShares MSCI Agriculture Producers ETF
- WOOD, iShares Global Timber & Forestry ETF
- Run a portfolio x-ray to see what PIO carries once you look through it
- Compare PIO against any other fund in the builder
Holdings from the issuer file published 2026-09-05. Prices through 2026-09-04. How every figure here is produced. Measurements, not investment advice.
