Water Stocks
Top 10 of 36 FIW holdings, updated
As of 12 October 2026, water stocks are trailing the S&P 500, over the past month and over the longer run. FIW trails the S&P 500 by 2.0 points over one month and ranks #32 of 115 groups Zensei tracks. 14 of the 36 water stocks Zensei prices in FIW beat the fund this month.
Where water stocks stand now
As of 12 October 2026, Water (FIW) ranks #32 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 2.0 points behind over the past month and 3.8 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, FIW's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. FIW's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via First Trust Water ETF, whose 36 tracked holdings are led by Agilent Technologies Inc, Waters Corp and Ferguson Enterprises Inc. Weighted by portfolio, the fund's holdings trade at roughly 23.5× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
As of , these are the largest water stocks in FIW by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top water stocks by fund weight
Ranked by largest share of FIW
- 1Agilent Technologies IncA4.5%
- 2Waters CorpWAT4.3%
- 3Ferguson Enterprises IncFERG4.1%
- 4Xylem IncXYL4.1%
- 5Ecolab IncECL4.0%
Best water stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1Companhia de Saneamento Basico do Estado de SAO PauloSBS+27.3%
- 2Agilent Technologies IncA+16.8%
- 3Bentley Systems IncBSY+13.7%
- 4Badger Meter IncBMI+5.9%
- 5Waters CorpWAT+5.8%
Water Stocks vs the S&P 500
Over the week to 12 October 2026, FIW fell 0.2% while the S&P 500 rose 0.4%. The table compares FIW and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means FIW won that window.
Prices as of · computed from daily adjusted closes · how we measure
Water on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are water stocks expensive?
The price-to-earnings ratio of FIW as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out. Compare with every sector and theme: P/E ratio by sector.
FIW holdings: the water stocks inside
This list covers all 36 water stocks in FIW, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 14 of the 36 water stocks Zensei prices in FIW beat the fund over the past month. 10 of them beat the S&P 500. The strongest is Companhia de Saneamento Basico do Estado de SAO Paulo (SBS); the weakest is Mueller Water Products Inc (MWA). Inside the fund, the holdings split between winners and losers.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | AAgilent Technologies Inc | 4.5% | +16.8% | +28.0% | +16.7 pts | Weak | Strong |
| 2 | WATWaters Corp | 4.3% | +5.8% | +15.8% | +5.7 pts | Fading | Fading |
| 3 | FERGFerguson Enterprises Inc | 4.1% | −0.8% | −5.0% | −0.9 pts | Weak | Strong |
| 4 | XYLXylem Inc | 4.1% | −4.1% | −15.0% | |||
| 5 | ECLEcolab Inc | 4.0% | +3.2% | +4.8% | |||
| 6 | VLTOVeralto Corp | 4.0% | +4.5% | +5.9% | |||
| 7 | AWKAmerican Water Works Co Inc | 4.0% | −5.9% | −0.9% | |||
| 8 | JJacobs Solutions Inc | 4.0% | −1.7% | +10.5% | |||
| 9 | IDXXIdexx Laboratories Inc | 3.9% | +3.8% | −7.1% | |||
| 10 | IEXIdex Corp | 3.6% | +5.5% | +6.8% |
All 36 FIW holdings by weight: Agilent Technologies Inc (A) 4.5%, Waters Corp (WAT) 4.3%, Ferguson Enterprises Inc (FERG) 4.1%, Xylem Inc (XYL) 4.1%, Ecolab Inc (ECL) 4.0%, Veralto Corp (VLTO) 4.0%, American Water Works Co Inc (AWK) 4.0%, Jacobs Solutions Inc (J) 4.0%, Idexx Laboratories Inc (IDXX) 3.9%, Idex Corp (IEX) 3.6%, Roper Technologies Inc (ROP) 3.5%, Masco Corp (MAS) 3.5%, Advanced Drainage Systems Inc (WMS) 3.5%, Mueller Industries Inc (MLI) 3.5%, Bentley Systems Inc (BSY) 3.1%, Valmont Industries Inc (VMI) 3.1%, Tetra Tech Inc (TTEK) 3.0%, Watts Water Technologies Inc (WTS) 3.0%, Aecom (ACM) 2.9%, Pentair PLC (PNR) 2.9%, Core & Main Inc (CNM) 2.1%, A.O. Smith Corp (AOS) 2.0%, Zurn Elkay Water Solutions Corp (ZWS) 2.0%, Stantec Inc (STN) 2.0%, Badger Meter Inc (BMI) 2.0%, Itron Inc (ITRI) 2.0%, Franklin Electric Co Inc (FELE) 2.0%, Algonquin Power & Utilities Corp (AQN) 1.9%, Fortune Brands Innovations Inc (FBIN) 1.9%, Primo Brands Corp (PRMB) 1.8%, Companhia de Saneamento Basico do Estado de SAO Paulo (SBS) 1.4%, Hawkins Inc (HWKN) 1.3%, H2o America (HTO) 1.3%, California Water Service Group (CWT) 1.2%, American States Water Co (AWR) 1.2%, Mueller Water Products Inc (MWA) 1.2%.
Water Stocks: common questions
Water stocks list: which stocks are in FIW?
As of 12 October 2026, FIW holds 36 water stocks, and this page lists all 36. The three largest by fund weight are Agilent Technologies Inc (A, 4.5%), Waters Corp (WAT, 4.3%) and Ferguson Enterprises Inc (FERG, 4.1%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best water stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest water stocks in FIW are Companhia de Saneamento Basico do Estado de SAO Paulo (SBS, +27.3%), Agilent Technologies Inc (A, +16.8%) and Bentley Systems Inc (BSY, +13.7%). This ranks past return only; it does not forecast the next month.
What are the top 3 water stocks?
As of 12 October 2026, the three largest water stocks in FIW by fund weight are Agilent Technologies Inc (A, 4.5%), Waters Corp (WAT, 4.3%) and Ferguson Enterprises Inc (FERG, 4.1%). Fund weight shows size inside the fund, not a recommendation.
Which water stocks are beating the sector?
As of 12 October 2026, 14 of the 36 water stocks Zensei prices in FIW beat the fund over the past month. The strongest over the past month is Companhia de Saneamento Basico do Estado de SAO Paulo (SBS). The table above shows the largest holdings with their weights and returns.
Which ETF holds water stocks?
Several ETFs hold water stocks. Zensei tracks the group through FIW, the First Trust Water ETF. As of 12 October 2026, its published holdings list 36 water stocks, and the 10 largest make up 40.4% of the fund.
Are water stocks outperforming the S&P 500?
No. As of 12 October 2026, FIW trails the S&P 500 by 2.0 points over the past month.
What is FIW?
FIW is First Trust Water ETF. Zensei uses it to measure water stocks against the S&P 500 (SPY).
What stocks does FIW own?
As of 12 October 2026, the largest of the 36 positions Zensei tracks in FIW are Agilent Technologies Inc, Waters Corp, Ferguson Enterprises Inc, Xylem Inc, Ecolab Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is water in right now?
As of 12 October 2026, water is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: trailing the market
Related sectors
Track water against the whole market
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