PHO vs TCAF: Holdings Overlap
PHOInvesco Water Resources ETF
Invesco · 36 holdings · $2.1B · as of 2026-04-30
TCAFT. Rowe Price Capital Appreciation Equity ETF
T. Rowe Price · 92 holdings · $8.3B · as of 2026-03-31
Holdings snapshots are 30 days apart (PHO: 2026-04-30, TCAF: 2026-03-31). 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 TCAF?
Invesco Water Resources ETF (PHO, by Invesco) holds 36 positions; T. Rowe Price Capital Appreciation Equity ETF (TCAF, by T. Rowe Price) holds 92. They have 2 holdings in common, and by portfolio weight the two funds are 2.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 2PHO holds 36 · TCAF holds 92
- Weight in Shared Holdings
- PHO 12%·TCAF 2%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
34 of 36 positions (88.0% of the fund) are not held by TCAF. Showing the top 30 by weight.
Sector Breakdown
| Sector | PHO | TCAF |
|---|---|---|
| Industrials | 55.4% | 5.0% |
| Information Technology | 13.0% | 30.5% |
| Health Care | 8.2% | 17.6% |
| Utilities | 12.8% | 10.2% |
| Consumer Discretionary | 0.0% | 12.1% |
| Other Sectors | 8.1% | 21.1% |
| Unclassified | 2.5% | 3.3% |
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, 3% of TCAF).
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% |
| TCAF | +3.1% | +12.1% | +18.5% | +18.6% | — | — | 0.45% |
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 TCAF →
Shared Holdings(2)
Frequently Asked Questions
How much do PHO and TCAF overlap?
PHO and TCAF overlap by 2.0% of portfolio weight. They share 2 holdings (PHO holds 36 positions and TCAF holds 92), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PHO and TCAF?
The two portfolios are 2.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of PHO and TCAF?
The largest positions held by both funds are WAT and VLTO. Together the top 2 shared positions account for 100% of the total overlap.
What does PHO own that TCAF doesn't?
34 positions (88.0% of PHO) are unique to PHO, led by FERG, ROP and ECL. In the other direction, 90 positions (97.8% of TCAF) are unique to TCAF.