FVD vs PHO: Holdings Overlap
FVDFirst Trust Value Line Dividend Index Fund
First Trust · 236 holdings · $8.4B · as of 2026-03-31
PHOInvesco Water Resources ETF
Invesco · 36 holdings · $2.1B · as of 2026-04-30
Holdings snapshots are 30 days apart (FVD: 2026-03-31, 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 FVD and PHO?
First Trust Value Line Dividend Index Fund (FVD, by First Trust) holds 236 positions; Invesco Water Resources ETF (PHO, by Invesco) holds 36. They have 7 holdings in common, and by portfolio weight the two funds are 3.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 7FVD holds 236 · PHO holds 36
- Weight in Shared Holdings
- FVD 3%·PHO 21%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 FVD
229 of 236 positions (96.8% of the fund) are not held by PHO. Showing the top 30 by weight.
Sector Breakdown
| Sector | FVD | PHO |
|---|---|---|
| Industrials | 15.1% | 55.4% |
| Utilities | 18.9% | 12.8% |
| Financials | 18.5% | 0.0% |
| Information Technology | 4.6% | 13.0% |
| Consumer Staples | 10.4% | 0.0% |
| Other Sectors | 27.6% | 16.3% |
| Unclassified | 4.7% | 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 (5% of FVD, 2% of PHO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FVD | +2.8% | +11.6% | +14.7% | +10.6% | +6.9% | +8.8% | 2.20% |
| 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 FVD vs PHO →
Shared Holdings(7)
The top 7 shared positions account for 100% of the overlap, led by AWR, CWT and WTRG.
 AWRAmerican States Water Co. COM | 0.43% | 0.70% | 0.43% |
|---|---|---|---|
 CWTCalifornia Water Service Group COM | 0.43% | 0.63% | 0.43% |
 WTRGEssential Utilities Inc COM | 0.42% | 3.35% | 0.42% |
 IEXIdex Corporation COM | 0.42% | 4.39% | 0.42% |
 AWKAmerican Water Works Company, Inc. COM | 0.42% | 6.95% | 0.42% |
 FELEFranklin Electric Co Inc COM | 0.42% | 1.33% | 0.42% |
 PNRPentair PLC SHS | 0.41% | 3.44% | 0.41% |
Frequently Asked Questions
How much do FVD and PHO overlap?
FVD and PHO overlap by 3.0% of portfolio weight. They share 7 holdings (FVD holds 236 positions and PHO holds 36), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FVD and PHO?
The two portfolios are 3.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of FVD and PHO?
The largest positions held by both funds are AWR, CWT, WTRG, IEX and AWK. Together the top 7 shared positions account for 100% of the total overlap.
What does FVD own that PHO doesn't?
229 positions (96.8% of FVD) are unique to FVD, led by ETR, RIO and SNY. In the other direction, 29 positions (79.2% of PHO) are unique to PHO.