AVEM vs PHO: Holdings Overlap
AVEMAvantis Emerging Markets Equity ETF
Avantis · 3893 holdings · $25.8B · as of 2026-05-31
PHOInvesco Water Resources ETF
Invesco · 36 holdings · $2.1B · as of 2026-04-30
Holdings snapshots are 31 days apart (AVEM: 2026-05-31, PHO: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are AVEM and PHO?
Avantis Emerging Markets Equity ETF (AVEM, by Avantis) holds 3893 positions; Invesco Water Resources ETF (PHO, by Invesco) holds 36. They have 1 holdings in common, and by portfolio weight the two funds are 0.1% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1AVEM holds 3893 · PHO holds 36
- Weight in Shared Holdings
- AVEM 0%·PHO 1%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in AVEM
3892 of 3893 positions (99.8% of the fund) are not held by PHO. Showing the top 30 by weight.
Sector Breakdown
| Sector | AVEM | PHO |
|---|---|---|
| Industrials | 2.0% | 55.4% |
| Information Technology | 33.8% | 13.0% |
| Utilities | 0.8% | 12.8% |
| Financials | 10.7% | 0.0% |
| Health Care | 0.3% | 8.2% |
| Other Sectors | 15.9% | 8.1% |
| Unclassified | 36.5% | 2.5% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (37% of AVEM, 2% of PHO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| AVEM | -0.3% | +20.6% | +33.7% | +21.9% | +9.9% | — | 1.90% |
| PHO | +5.7% | +4.5% | +3.2% | +8.8% | +5.6% | +12.2% | 0.55% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in AVEM vs PHO →
Shared Holdings(1)
 SBSCia de Saneamento Basico do Estado de Sao Paulo SABESP | 0.11% | 1.32% | 0.11% |
|---|
Frequently Asked Questions
How much do AVEM and PHO overlap?
AVEM and PHO overlap by 0.1% of portfolio weight. They share 1 holdings (AVEM holds 3893 positions and PHO holds 36), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AVEM and PHO?
The two portfolios are 0.1% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of AVEM and PHO?
The largest positions held by both funds are SBS. Together the top 1 shared positions account for 98% of the total overlap.
What does AVEM own that PHO doesn't?
3892 positions (99.8% of AVEM) are unique to AVEM, led by 000660, TSM and SMSNRUB. In the other direction, 35 positions (98.7% of PHO) are unique to PHO.