ACWI vs PIO: holdings overlap, shared companies and scores
As of September 11, 2026, ACWI and PIO overlap 0.5% by weight. iShares MSCI ACWI ETF (ACWI): Large- and mid-cap global stocks. Invesco Global Water ETF (PIO): Worldwide water conservation stocks.
Updated September 11, 2026
How much do ACWI and PIO overlap?
As of September 11, 2026, ACWI and PIO overlap 0.5% by weight.
1% of ACWI is already inside PIO.
78% of PIO is already inside ACWI.
ACWI holds 2,169 companies and PIO holds 40; 22 are in both.
Computed by ETF Copilot from both funds' holdings rather than quoted from a data provider, and rebuilt nightly.
How does ETF Copilot score ACWI and PIO?
As of September 11, 2026, ETF Copilot scores ACWI 5.5 out of 10 and PIO 4.6 out of 10.
They differ most on Valuation: ACWI 2.2 and PIO 9.6.
The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.
| Factor | ACWI | PIO |
|---|---|---|
| Growth | 5.3 | 5.5 |
| Valuation | 2.2 | 9.6 |
| Risk | 5.0 | 3.2 |
| Quality | 7.8 | 4.0 |
| Return | 6.7 | 1.5 |
ACWI is the cheaper of the two at 0.32% a year
As of September 11, 2026, ACWI charges 0.32% a year, yields 1.62% and holds $33.4B in assets across 2169 positions.
As of September 11, 2026, PIO charges 0.75% a year, yields 1.63% and holds $269M in assets across 40 positions.
| Measure | ACWI | PIO |
|---|---|---|
| Expense ratio | 0.32% | 0.75% |
| Dividend yield | 1.62% | 1.63% |
| Assets under management | $33.4B | $269M |
| Holdings | 2169 | 40 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Where ACWI trades against its own history
ACWI trades at 21.4 times earnings, against its own median of 17.7, and is more expensive than 86% of its own 114 monthly readings since 2017.
What moved ACWI and PIO this week
ACWI fell 1.0% in the week to September 11, 2026. The holdings that moved it most were Nvidia (−4.4%), Microsoft (−2.8%) and Novartis (−15.2%); SK Hynix (+14.8%) pushed the other way.
PIO fell 2.4% in the week to September 11, 2026. The holdings that moved it most were Roper Technologies (−8.0%), Pentair (−5.7%) and Idexx Labs (−4.6%); CIA de Saneamento Basico DO Estado de SAO Paulo (+2.3%) pushed the other way.
What do ACWI and PIO each hold?
What's inside ACWI: Tech 36%, Magnificent 7 21%.
25% of ACWI is its ten largest holdings.
What's inside PIO: Tech 0%.
57% of PIO is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “ACWI vs PIO holdings overlap and scores”, as of September 11, 2026.
https://etf-copilot.com/compare/acwi-vs-pio
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