FMAT vs VAW: holdings overlap, shared companies and scores
As of October 9, 2026, FMAT and VAW overlap 94.5% by weight. Fidelity MSCI Materials Index ETF (FMAT): U.S. materials stocks. Vanguard Materials ETF (VAW): U.S. materials companies.
Updated October 9, 2026
Where FMAT and VAW trade against their own history
FMAT trades at 21.1 times earnings, against its own median of 19.8, and is more expensive than 57% of its own last 9 years.
VAW trades at 19.7 times earnings, against its own median of 19.3, and is more expensive than 50% of its own last 9 years.
What moved FMAT and VAW this week
FMAT rose 0.8% in the week to October 9, 2026. The holdings that moved it most were Newmont (+2.0%), Freeport-McMoRan (+2.3%) and Nucor (+4.1%); Mosaic (−11.1%) pushed the other way.
VAW rose 0.8% in the week to October 9, 2026. The holdings that moved it most were Corteva (+11.1%), Newmont (+2.0%) and Freeport-McMoRan (+2.3%); Mosaic (−11.1%) pushed the other way.
What do FMAT and VAW each hold?
What's inside FMAT: Tech 0%.
57% of FMAT is its ten largest holdings.
What's inside VAW: Tech 0%.
58% of VAW is its ten largest holdings.
How much do FMAT and VAW overlap? 94.5% by weight
As of October 9, 2026, FMAT and VAW overlap 94.5% by weight.
97% of FMAT is already inside VAW.
100% of VAW is already inside FMAT.
FMAT holds 105 companies and VAW holds 110; 98 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 FMAT and VAW? 4.4 and 3.8 out of 10
As of October 9, 2026, ETF Copilot scores FMAT 4.4 out of 10 and VAW 3.8 out of 10.
They differ most on Growth: FMAT 5.7 and VAW 2.4.
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 | FMAT | VAW |
|---|---|---|
| Growth | 5.7 | 2.4 |
| Value | 5.0 | 6.4 |
| Risk | 4.6 | 4.6 |
| Quality | 3.6 | 3.6 |
| Return | 3.1 | 3.2 |
FMAT is the cheaper of the two at 0.08% a year
As of October 9, 2026, FMAT charges 0.08% a year, yields 1.44% and holds $574M in assets across 105 positions.
As of October 9, 2026, VAW charges 0.09% a year, yields 1.44% and holds $4.6B in assets across 110 positions.
| Measure | FMAT | VAW |
|---|---|---|
| Expense ratio | 0.08% | 0.09% |
| Dividend yield | 1.44% | 1.44% |
| Assets under management | $574M | $4.6B |
| Holdings | 105 | 110 |
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.
Compare with similar funds
Cite this
ETF Copilot, “FMAT vs VAW holdings overlap and scores”, as of October 9, 2026.
https://etf-copilot.com/compare/fmat-vs-vaw
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