VAW vs. FIW ETF Comparison

Comparison of Vanguard Materials ETF - DNQ (VAW) to First Trust ISE Water Index Fund (FIW)

VAW

Vanguard Materials ETF - DNQ

VAW Description

The investment seeks to track the performance of a benchmark index. The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Materials 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the materials sector, as classified under the Global Industry Classification Standard (GICS). It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$209.59

Average Daily Volume

31,720

Number of Holdings ^*

116

* may have additional holdings in another (foreign) market

FIW

First Trust ISE Water Index Fund

FIW Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the ISE Water Index(TM). The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The index is a modified market-capitalization weighted portfolio of 36 stocks of companies as of March 31, 2013 that derive a substantial portion of their revenues from the potable and wastewater industries. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$108.11

Average Daily Volume

38,754

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VAW	FIW
30 Days	1.95%	0.61%
60 Days	6.69%	3.06%
90 Days	9.64%	9.67%
12 Months	25.27%	34.60%

2 Overlapping Holdings

	Symbol	Grade	Weight in VAW	Weight in FIW	Overlap
	ECL	B	4.56%	4.0%	4.0%
	HWKN	A	0.18%	1.17%	0.18%

VAW Overweight 114 Positions Relative to FIW

Symbol	Grade	Weight
LIN	B	16.13%
SHW	B	6.24%
FCX	B	4.46%
APD	C	4.35%
NEM	C	4.32%
CTVA	A	2.8%
DOW	B	2.64%
NUE	D	2.55%
DD	B	2.47%
MLM	D	2.31%
VMC	D	2.27%
PPG	D	2.13%
IFF	C	1.86%
LYB	D	1.8%
SW	C	1.73%
BALL	C	1.39%
PKG	C	1.32%
STLD	B	1.25%
AVY	C	1.25%
AMCR	B	1.16%
RS	D	1.15%
IP	C	1.12%
CF	A	1.07%
RPM	A	1.05%
CE	D	1.0%
EMN	C	0.84%
CCK	C	0.77%
ATR	A	0.71%
ALB	D	0.65%
GPK	C	0.65%
MOS	D	0.64%
EXP	C	0.61%
X	F	0.6%
ATI	B	0.56%
AXTA	C	0.56%
FMC	B	0.56%
BERY	C	0.55%
AA	B	0.53%
CRS	C	0.48%
RGLD	C	0.48%
CLF	D	0.44%
LPX	A	0.44%
ESI	B	0.43%
CMC	D	0.43%
CBT	B	0.41%
BCPC	C	0.4%
SON	D	0.39%
WLK	C	0.39%
OLN	D	0.37%
SEE	C	0.36%
SUM	D	0.35%
FUL	F	0.33%
SLGN	C	0.31%
AVNT	C	0.31%
KNF	C	0.3%
ASH	F	0.3%
NEU	F	0.29%
HL	C	0.25%
HUN	B	0.25%
HCC	B	0.23%
SMG	A	0.21%
SXT	C	0.2%
IOSP	F	0.2%
CC	D	0.2%
AMR	F	0.19%
SLVM	C	0.19%
MTRN	F	0.17%
KWR	D	0.17%
CDE	C	0.17%
MTX	B	0.17%
ARCH	D	0.16%
OI	D	0.14%
ASPN	D	0.13%
TROX	D	0.12%
SCL	D	0.12%
GEF	D	0.11%
MP	B	0.11%
PRM	B	0.11%
NGVT	D	0.1%
OEC	F	0.08%
WS	D	0.08%
KALU	D	0.08%
USLM	C	0.07%
TRS	D	0.07%
MATV	F	0.07%
ASIX	A	0.06%
ECVT	F	0.06%
CENX	B	0.06%
KOP	F	0.06%
PCT	C	0.05%
SXC	F	0.05%
HAYN	B	0.05%
IE	D	0.04%
GATO	B	0.04%
PTVE	D	0.04%
CLW	F	0.04%
RYI	F	0.04%
MTUS	F	0.04%
LXU	B	0.03%
ZEUS	F	0.03%
RDUS	D	0.03%
MYE	F	0.03%
MERC	D	0.02%
IPI	C	0.02%
KRO	B	0.02%
PACK	F	0.02%
CMP	D	0.02%
METC	D	0.02%
TSE	B	0.01%
AVD	F	0.01%
PLL	D	0.01%
ORGN	C	0.01%
FEAM	F	0.0%
DNMR	D	0.0%

VAW Underweight 31 Positions Relative to FIW

Symbol	Grade	Weight
IDXX	D	-4.19%
IEX	D	-4.1%
AWK	B	-4.03%
ROP	C	-3.96%
A	B	-3.95%
WAT	B	-3.95%
VLTO	A	-3.94%
XYL	C	-3.85%
PNR	C	-3.79%
ACM	C	-3.56%
TTEK	B	-3.45%
WMS	D	-3.4%
WTRG	D	-3.39%
BMI	A	-3.16%
AOS	B	-3.06%
MLI	C	-2.93%
CNM	F	-2.75%
PRMW	C	-2.29%
ZWS	A	-2.13%
WTS	C	-2.09%
ITRI	C	-2.08%
AWR	A	-2.02%
VMI	B	-2.0%
FELE	C	-1.97%
MWA	A	-1.96%
CWT	D	-1.91%
MSEX	C	-1.27%
SBS	D	-1.26%
LNN	C	-1.24%
SJW	D	-1.22%
MEG	F	-1.06%