ETF comparison
FMAT vs VAW
Both Materials.
Fidelity MSCI Materials Index ETF · Vanguard Materials Index Fund ETF Shares
Holdings overlap
98 positions appear in both funds. Buying equal dollars of FMAT and VAW would leave roughly 93.5% of each dollar exposed to the same underlying securities.
Side by side
Sub-score comparison
Tracking quality isn't part of the composite — see what we don't score for why.
Cost difference
FMAT is 1 bps cheaper than VAW. On a $100,000 position that's about $6/yr more in fees for VAW.
Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with FMAT vs VAW.
Top shared holdings
98 shared in total| # | Holding | In FMAT | In VAW | Overlap |
|---|---|---|---|---|
| 1 | Linde PLC | 14.99% | 14.53% | 14.53% |
| 2 | Newmont Corp | 7.77% | 8.71% | 7.77% |
| 3 | Freeport-McMoRan Inc | 5.32% | 5.96% | 5.32% |
| 4 | CRH PLC | 5.09% | 4.92% | 4.92% |
| 5 | Sherwin-Williams Co/The | 4.85% | 5.24% | 4.85% |
| 6 | Ecolab Inc | 4.26% | 4.80% | 4.26% |
| 7 | Air Products and Chemicals Inc | 4.28% | 3.58% | 3.58% |
| 8 | Corteva Inc | 3.51% | 3.32% | 3.32% |
| 9 | Vulcan Materials Co | 2.55% | 2.50% | 2.50% |
| 10 | Nucor Corp | 3.30% | 2.48% | 2.48% |
| 11 | Martin Marietta Materials Inc | 2.39% | 2.49% | 2.39% |
| 12 | Amrize Ltd | 1.72% | 1.97% | 1.72% |
Only in FMAT
6 total- State Street Global Advisors 0.16%
- Hycroft Mining Holding Corp 0.11%
- NioCorp Developments Ltd 0.06%
- Trilogy Metals Inc 0.03%
- American Battery Technology Co 0.03%
- Greif Inc 0.02%
Only in VAW
14 total- Sealed Air Corp 0.38%
- Myers Industries Inc 0.04%
- Mativ Holdings Inc 0.04%
- LSB Industries Inc 0.04%
- AdvanSix Inc 0.03%
- Magnera Corp 0.03%
- Intrepid Potash Inc 0.03%
- Orion SA 0.02%
- Clearwater Paper Corp 0.01%
- Ranpak Holdings Corp 0.01%
Open FMAT or VAW at a brokerage
Both funds trade commission-free at major US brokerages.
Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.
Holdings overlap is the sum of min(weight_a, weight_b) over positions
matched on ISIN (CUSIP fallback). Methodology: see
/methodology/.
Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.