ETF Evaluator:
Invesco Global Water ETF ()
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(as of Nov 13)
Best Performing in Miscellaneous Sector Over the Last Year
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ETF Details
Invesco Global Water ETF Overview
Invesco Global Water ETF (PIO) is a passively managed Sector Equity Miscellaneous Sector exchange-traded fund (ETF). Invesco launched the ETF in 2007.
The investment seeks to track the investment results (before fees and expenses) of the NASDAQ OMX Global WaterTMIndex.
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index, as well as ADRs and GDRs that are based on the securities in the underlying index. The underlying index is designed to track the performance of companies that create products that conserve and purify water for homes, businesses, and industries, as determined by SustainableBusiness.com LLC, a third-party service provider. It is non-diversified.
About Invesco Global Water ETF (PIO)
There are 4 members of the management team with an average tenure of 9.52 years: Peter Hubbard (2007), Michael Jeanette (2015), Pratik Doshi (2020) and Faiz Syed (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and NASDAQ OMX Global Water NR USD index with a weighting of 100%. Invesco Global Water ETF has 51 securities in its portfolio. The top 10 holdings constitute 59.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
Invesco Global Water ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Invesco Global Water ETF has 48.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 52.0% There is 48.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco Global Water ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $266 million in total assets, which is below the $334 million average for the Miscellaneous Sector category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PIO Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco Global Water ETF expense ratio is above average compared to funds in the Miscellaneous Sector category. Invesco Global Water ETF has an expense ratio of 0.75%, which is 1% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco Global Water ETF has a portfolio turnover rate of 45%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 38% for the Miscellaneous Sector category.
Recently, in the month of October 2026, Invesco Global Water ETF returned 1.8%, which earned it a grade of B, as the Miscellaneous Sector category had an average return of -3.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco Global Water ETF has a trailing yield of 0.89%, which is below the 1.08% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco Global Water ETF Grades
Year to date, the ETF has returned 0.4%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned -1.1% over the past year (grade of C), 12.3% over the past three years (grade of C) and 2.1% per year over the past five years (grade of B) and 8.8% per year over the past 10 years (grade of B).
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PIO Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PIO Return (NAV) | 1.8% | -1.9% | -1.1% | 12.3% | 2.1% | 8.8% |
| PIO Return (Price) | 1.5% | -2.2% | -1.3% | 12.3% | 2.0% | 8.8% |
| NAV +/- Price Return | 0.299% | 0.379% | 0.167% | 0.068% | 0.053% | 0.004% |
| Miscellaneous Sector Avg | -3.7% | -2.4% | -0.4% | 10.7% | -7.1% | 5.0% |
| PIO Grade (NAV) | B | C | C | C | B | B |
| +/- Category (NAV) | 5.5% | 0.5% | -0.8% | 1.6% | 9.2% | 3.8% |
| PIO Tax-Cost Ratio | na | na | 0.4% | 0.3% | 0.4% | 0.4% |
PIO Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PIO Return (NAV) | 0.4% | 13.7% | -0.4% | 21.1% | -23.1% | 25.9% | 14.2% | 35.1% | -9.4% | 26.2% | 0.9% |
| PIO Return (Price) | 0.2% | 14.2% | -0.5% | 22.2% | -24.1% | 26.0% | 14.2% | 35.6% | -9.7% | 26.5% | 0.8% |
| NAV +/- Price Ret | -0.516% | 0.039% | 0.225% | 0.051% | 0.042% | 0.005% | -0.001% | 1.4% | 3.4% | 1.3% | -10.4% |
| Miscellaneous Sector Avg | 0.6% | 21.4% | -6.1% | 8.2% | -37.8% | 23.6% | 21.5% | 21.4% | -11.0% | 25.4% | 14.5% |
| PIO Grade (NAV) | C | C | C | A | B | C | D | B | C | B | F |
| +/- Category | -0.2% | -7.7% | 5.7% | 13.0% | 14.7% | 2.3% | -7.2% | 13.7% | 1.6% | 0.8% | -13.5% |
| Risk Measures | |
| Beta: | 1.03 |
| R-Squared: | 57% |
| Standard Deviation: | 16.2% |
| Category Risk Index: | 0.46 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.34 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.9% |
| Total Assets: | $ 266 Mil |
| Share Class Assets: | $ 266 Mil |
| Turnover: | 45.0% |
| Expense Ratio: | 0.75% |
| Index Fund: | Yes |
| Index Tracked: | MSCI EAFE NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 19.4 years | |||
| Average Tenure: 9.5 years | |||
| Managers (Year): Hubbard Peter (2007), Jeanette Michael (2015), Doshi Pratik (2020), Syed Faiz (2026) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 51 |
| % in Top 10 Holdings: | 59.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 48.0% |
Portfolio Allocation |
|
| Domestic Stock: | 52.0% |
| Foreign Stock: | 48.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | June 13, 2007 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.74% |
