CGW vs PHDG
CGW vs PHDG
Invesco S&P Global Water Index ETF vs Invesco S&P 500 Downside Hedged ETF
Quick Verdict
PHDG has a lower expense ratio. PHDG delivered stronger 1-year returns. PHDG offers more diversification with 494 holdings.
Side-by-Side Comparison
| Metric | CGW | PHDG | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.39% | |
| AUM | $1.0B | $61M | |
| Dividend Yield | 1.52% | 1.68% | |
| Holdings | 82 | 514 | |
| YTD Return | +4.92% | +13.02% | |
| 1Y Return | +6.28% | +18.49% | |
| 3Y Return (annualized) | +10.58% | +9.60% | |
| 5Y Return (annualized) | +4.42% | +4.75% | |
| Volatility (annualized) | 17.3% | 9.9% | |
| Max Drawdown | -57.2% | -23.6% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 14, 2007 | Dec 5, 2012 |
CGW vs PHDG Performance
Invesco S&P Global Water Index ETF (CGW) is a ETF from Invesco (US) and Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US). Over the past year CGW returned +6.28% while PHDG returned +18.49%. Year to date, CGW is up 4.92% versus a gain of 13.02% for PHDG.
Over three years, CGW compounded at +10.58% per year against +9.60% for PHDG; over five years the annualized figures are +4.42% and +4.75% respectively. Across the full 14-year window we track, CGW has the edge at +7.34% annualized vs +4.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGW has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 9.9% for PHDG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -57.2% for CGW and -23.6% for PHDG. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CGW charges 0.58% per year while PHDG charges 0.39%. On a $10,000 position that is $58 vs $39 annually, a gap of $19 per year that compounds over a long holding period. On income, CGW currently yields 1.52% against 1.68% for PHDG.
Holdings Overlap
CGW and PHDG share 5 holdings out of 557 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CGW | Weight in PHDG | Difference |
|---|---|---|---|
| AWK | 7.82% | 0.03% | 7.79% |
| XYL | 7.20% | 0.03% | 7.17% |
| VLTO | 5.32% | 0.03% | 5.29% |
| ECL | Pro | Pro | Pro |
| PNR | Pro | Pro | Pro |
See all 5 holdings CGW shares with PHDG Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, CGW or PHDG?
CGW has an expense ratio of 0.58% while PHDG charges 0.39%. PHDG is the cheaper option. On a $10,000 investment, that is $19 per year of difference.
Which performed better, CGW or PHDG?
Over the past year CGW returned +6.28% vs +18.49% for PHDG, so PHDG leads on 1-year performance. Over the longest common window we track (14 years), CGW annualized +7.34% vs +4.45% for PHDG. Past performance does not guarantee future results.
Which is riskier, CGW or PHDG?
CGW has been the more volatile fund at 17.3% annualized versus 9.9% for PHDG. Worst drawdown: CGW -57.2% vs PHDG -23.6%.
Should I hold both CGW and PHDG?
CGW and PHDG have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CGW and PHDG?
CGW and PHDG share 5 common holdings with a 0.2% weight overlap. Combined, they hold 557 unique securities.
Which pays a higher dividend, CGW or PHDG?
CGW yields 1.52% while PHDG yields 1.68%, so PHDG currently pays the higher dividend yield.
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