PHO vs SLYG: Holdings Overlap
PHOInvesco Water Resources ETF
Invesco · 36 holdings · $2.1B · as of 2026-04-30
SLYGState Street® SPDR® S&P 600™ Small Cap Growth ETF
State Street (SPDR) · 349 holdings · $5.3B · as of 2026-08-06
Holdings snapshots are 98 days apart (PHO: 2026-04-30, SLYG: 2026-08-06). 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 PHO and SLYG?
Invesco Water Resources ETF (PHO, by Invesco) holds 36 positions; State Street® SPDR® S&P 600™ Small Cap Growth ETF (SLYG, by State Street (SPDR)) holds 349. They have 9 holdings in common, and by portfolio weight the two funds are 2.9% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 9PHO holds 36 · SLYG holds 349
- Weight in Shared Holdings
- PHO 11%·SLYG 3%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 PHO
27 of 36 positions (88.7% of the fund) are not held by SLYG.
Only in SLYG
340 of 349 positions (96.9% of the fund) are not held by PHO. Showing the top 30 by weight.
Sector Breakdown
| Sector | PHO | SLYG |
|---|---|---|
| Industrials | 55.4% | 21.9% |
| Financials | 0.0% | 15.7% |
| Health Care | 8.2% | 15.0% |
| Information Technology | 13.0% | 13.8% |
| Utilities | 12.8% | 1.8% |
| Other Sectors | 8.1% | 30.8% |
| Unclassified | 2.5% | 0.9% |
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 (2% of PHO, 1% of SLYG).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| PHO | +5.7% | +4.5% | +3.2% | +8.8% | +5.6% | +12.2% | 0.55% |
| SLYG | +1.2% | +25.9% | +33.5% | +15.2% | +6.7% | +11.2% | 0.64% |
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 PHO vs SLYG →
Shared Holdings(9)
The top 9 shared positions account for 100% of the overlap, led by ZWS, BMI and ITRI.
 ZWSZurn Elkay Water Solutions Corporation COM | 1.78% | 0.86% | 0.86% |
|---|---|---|---|
 BMIBadger Meter Inc COM | 1.78% | 0.44% | 0.44% |
 ITRIItron, Inc. COM | 2.70% | 0.32% | 0.32% |
 MWAMueller Water Products, Inc. COM SER A | 1.17% | 0.31% | 0.31% |
 FELEFranklin Electric Co Inc COM | 1.33% | 0.25% | 0.25% |
 AWRAmerican States Water Co. COM | 0.70% | 0.24% | 0.24% |
 HWKNHawkins Inc COM | 0.98% | 0.20% | 0.20% |
 CWTCalifornia Water Service Group COM | 0.63% | 0.16% | 0.16% |
 MSEXMiddlesex Water Co. COM | 0.23% | 0.06% | 0.06% |
Frequently Asked Questions
How much do PHO and SLYG overlap?
PHO and SLYG overlap by 2.9% of portfolio weight. They share 9 holdings (PHO holds 36 positions and SLYG holds 349), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PHO and SLYG?
The two portfolios are 2.9% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of PHO and SLYG?
The largest positions held by both funds are ZWS, BMI, ITRI, MWA and FELE. Together the top 9 shared positions account for 100% of the total overlap.
What does PHO own that SLYG doesn't?
27 positions (88.7% of PHO) are unique to PHO, led by FERG, ROP and WAT. In the other direction, 340 positions (96.9% of SLYG) are unique to SLYG.