Vanguard Materials ETF (VAW) Holdings
VAW holdings summary
as of Oct 25, 2026- Holdings
- 110 positions listed
- Top 10 weight
- 58.9% of net assets
- Effective holdings
- 19 equal-weight equivalent
- Largest holding
- LIN 15.80% Linde plc
- Annual turnover
- 5.1% of the portfolio traded
Top 1058.9%
Top 2580.5%
Top 5094.3%
Top 10099.9%
All VAW holdings
110 holdings
| # | Name | ||||||
|---|---|---|---|---|---|---|---|
| 1 | LIN | Linde plc | Basic Materials | 15.80% | $462.4M | $229.77B | 32.2 |
| 2 | NEM | Newmont Corporation | Basic Materials | 8.45% | $247.2M | $124.97B | 15.0 |
| 3 | FCX | Freeport-McMoRan Inc. | Basic Materials | 6.96% | $203.7M | $99.86B | 34.3 |
| 4 | ECL | Ecolab Inc. | Basic Materials | 5.07% | $148.3M | $80.98B | 38.8 |
| 5 | SHW | The Sherwin-Williams Company | Basic Materials | 4.98% | $145.9M | $81.37B | 30.9 |
| 6 | APD | Air Products and Chemicals, Inc. | Basic Materials | 4.08% | $119.3M | $66.71B | — |
| 7 | CRH | CRH PLC | Basic Materials | 3.99% | $116.6M | — | — |
| 8 | CTVA | Corteva, Inc. | Basic Materials | 3.76% | $110.1M | $8.59B | 8.0 |
| 9 | NUE | Nucor Corporation | Basic Materials | 3.68% | $107.6M | $58.15B | 20.4 |
| 10 | STLD | Steel Dynamics, Inc. | Basic Materials | 2.16% | $63.3M | $34.48B | 21.8 |
| 11 | VMC | Vulcan Materials Company | Basic Materials | 2.15% | $62.8M | $33.38B | 30.4 |
| 12 | MLM | Martin Marietta Materials, Inc. | Basic Materials | 1.97% | $57.5M | $35.57B | 32.6 |
| 13 | PPG | PPG Industries, Inc. | Basic Materials | 1.61% | $47.2M | $23.87B | 15.4 |
| 14 | SW | Smurfit WestRock plc | Consumer Cyclical | 1.55% | $45.5M | $21.59B | 43.3 |
| 15 | IFF | International Flavors & Fragrances Inc. | Basic Materials | 1.48% | $43.3M | $23.15B | 89.8 |
| 16 | DOW | Dow Inc. | Basic Materials | 1.43% | $41.8M | $21.62B | — |
| 17 | RGLD | Royal Gold, Inc. | Basic Materials | 1.40% | $40.8M | $20.17B | 26.4 |
| 18 | RS | Reliance Steel & Aluminum Co. | Basic Materials | 1.37% | $40.1M | $20.99B | 23.9 |
| 19 | PKG | Packaging Corporation of America | Consumer Cyclical | 1.35% | $39.5M | $21.03B | 30.7 |
| 20 | AMCR | Amcor plc | Consumer Cyclical | 1.31% | $38.4M | $20.26B | 18.4 |
| 21 | CDE | Coeur Mining, Inc. | Basic Materials | 1.26% | $36.8M | $15.90B | 13.2 |
| 22 | AMRZ | Amerize Inc. | Basic Materials | 1.25% | $36.6M | — | — |
| 23 | IP | International Paper Company | Consumer Cyclical | 1.20% | $35.1M | $18.03B | — |
| 24 | CF | CF Industries Holdings, Inc. | Basic Materials | 1.19% | $34.7M | $18.29B | 9.0 |
| 25 | LYB | LyondellBasell Industries N.V. | Basic Materials | 1.03% | $30.2M | $20.68B | — |
| 26 | BALL | Ball Corporation | Consumer Cyclical | 0.96% | $28.0M | $16.73B | 18.0 |
| 27 | AVY | Avery Dennison Corporation | Consumer Cyclical | 0.89% | $25.9M | $13.29B | 19.2 |
| 28 | ALB | Albemarle Corporation | Basic Materials | 0.89% | $25.9M | $11.27B | 353.6 |
| 29 | RPM | RPM International Inc. | Basic Materials | 0.86% | $25.1M | $12.72B | 18.4 |
| 30 | CCK | Crown Holdings, Inc. | Consumer Cyclical | 0.82% | $24.1M | $12.42B | 16.4 |
| 31 | HL | Hecla Mining Company | Basic Materials | 0.76% | $22.4M | $10.28B | 19.9 |
| 32 | AA | Alcoa Corporation | Basic Materials | 0.76% | $22.4M | $10.94B | 7.2 |
| 33 | SOLS | Solstice Advanced Materials, Inc | Basic Materials | 0.64% | $18.7M | $9.41B | 44.9 |
| 34 | ESI | Element Solutions Inc | Basic Materials | 0.59% | $17.2M | $8.54B | 47.4 |
| 35 | ATR | AptarGroup, Inc. | Healthcare | 0.55% | $16.0M | $7.92B | 22.5 |
| 36 | EMN | Eastman Chemical Company | Basic Materials | 0.54% | $15.7M | $7.13B | 16.3 |
| 37 | AXTA | Axalta Coating Systems Ltd. | Basic Materials | 0.50% | $14.7M | $7.16B | 20.5 |
| 38 | MOS | The Mosaic Company | Basic Materials | 0.50% | $14.7M | $5.98B | — |
| 39 | MP | MP Materials Corp. | Basic Materials | 0.49% | $14.4M | $7.15B | — |
| 40 | CMC | Commercial Metals Company | Industrials | 0.46% | $13.4M | $7.19B | 11.1 |
| 41 | NEU | NewMarket Corporation | Basic Materials | 0.45% | $13.3M | $8.06B | 18.9 |
| 42 | CLF | Cleveland-Cliffs Inc. | Basic Materials | 0.45% | $13.2M | $6.91B | — |
| 43 | MTRN | Materion Corporation | Basic Materials | 0.39% | $11.5M | $5.11B | 57.2 |
| 44 | EXP | Eagle Materials Inc. | Basic Materials | 0.38% | $11.1M | $5.22B | 13.4 |
| 45 | BCPC | Balchem Corporation | Basic Materials | 0.36% | $10.4M | $5.44B | 33.6 |
| 46 | CE | Celanese Corporation | Basic Materials | 0.34% | $10.1M | $5.21B | — |
| 47 | SXT | Sensient Technologies Corporation | Basic Materials | 0.34% | $10.0M | $5.69B | 36.0 |
| 48 | SON | Sonoco Products Company | Consumer Cyclical | 0.34% | $9.9M | $4.92B | 7.7 |
| 49 | HCC | Warrior Met Coal, Inc. | Basic Materials | 0.31% | $9.1M | $4.75B | 21.6 |
| 50 | CBT | Cabot Corporation | Basic Materials | 0.27% | $8.0M | $3.84B | 20.8 |
| 51 | PRM | Perimeter Solutions, SA | Basic Materials | 0.26% | $7.7M | $4.34B | — |
| 52 | AVNT | Avient Corporation | Basic Materials | 0.25% | $7.3M | $3.58B | 21.1 |
| 53 | SLGN | Silgan Holdings Inc. | Consumer Cyclical | 0.22% | $6.3M | $3.99B | 14.8 |
| 54 | ASH | Ashland Inc. | Basic Materials | 0.21% | $6.1M | $3.26B | 45.6 |
| 55 | CSTM | Constellium SE | Basic Materials | 0.20% | $5.9M | $3.45B | 6.6 |
| 56 | KNF | Knife River Corporation | Basic Materials | 0.19% | $5.6M | $2.87B | 20.5 |
| 57 | USAR | USA Rare Earth, Inc. | Basic Materials | 0.18% | $5.4M | $3.95B | — |
| 58 | FUL | H.B. Fuller Company | Basic Materials | 0.18% | $5.3M | $2.76B | 14.3 |
| 59 | GPK | Graphic Packaging Holding Company | Consumer Cyclical | 0.18% | $5.3M | $2.54B | 13.0 |
| 60 | HWKN | Hawkins, Inc. | Basic Materials | 0.17% | $4.9M | $2.75B | 34.1 |
| 61 | KALU | Kaiser Aluminum Corporation | Basic Materials | 0.17% | $4.9M | $2.41B | 10.9 |
| 62 | IOSP | Innospec Inc. | Basic Materials | 0.17% | $4.8M | $2.38B | 19.8 |
| 63 | NGVT | Ingevity Corporation | Basic Materials | 0.16% | $4.8M | $2.40B | 99.7 |
| 64 | CENX | Century Aluminum Company | Basic Materials | 0.16% | $4.8M | $3.47B | 6.1 |
| 65 | SMG | The Scotts Miracle-Gro Company | Basic Materials | 0.15% | $4.5M | $3.18B | 19.5 |
| 66 | KWR | Quaker Chemical Corporation | Basic Materials | 0.15% | $4.5M | $2.70B | 28.0 |
| 67 | CC | The Chemours Company | Basic Materials | 0.14% | $4.2M | $1.92B | — |
| 68 | WLK | Westlake Corporation | Basic Materials | 0.14% | $4.1M | $8.09B | — |
| 69 | MTX | Minerals Technologies Inc. | Basic Materials | 0.13% | $3.9M | $1.96B | — |
| 70 | GEF | Greif, Inc. | Consumer Cyclical | 0.13% | $3.9M | $4.67B | 37.2 |
| 71 | PPTA | Perpetua Resources Corp. | Basic Materials | 0.13% | $3.7M | $2.40B | — |
| 72 | AMR | Alpha Metallurgical Resources, Inc. | Basic Materials | 0.12% | $3.6M | $2.11B | — |
| 73 | OLN | Olin Corporation | Basic Materials | 0.12% | $3.4M | $1.78B | — |
| 74 | HUN | Huntsman Corporation | Basic Materials | 0.10% | $3.0M | $1.50B | — |
| 75 | SCL | Stepan Company | Basic Materials | 0.09% | $2.7M | $1.41B | — |
| 76 | USLM | United States Lime & Minerals, Inc. | Basic Materials | 0.08% | $2.4M | $3.04B | 22.7 |
| 77 | IE | Ivanhoe Electric Inc. | Basic Materials | 0.08% | $2.3M | $1.38B | — |
| 78 | WS | Worthington Steel, Inc. | Basic Materials | 0.08% | $2.3M | $1.99B | — |
| 79 | ECVT | Ecovyst Inc. | Basic Materials | 0.08% | $2.3M | $1.13B | 44.7 |
| 80 | SLVM | Sylvamo Corporation | Basic Materials | 0.08% | $2.3M | $1.30B | 17.4 |
| 81 | TRS | TriMas Corporation | Consumer Cyclical | 0.08% | $2.3M | $1.39B | 15.8 |
| 82 | FMC | FMC Corporation | Basic Materials | 0.07% | $2.1M | $880.4M | — |
| 83 | HYMC | Hycroft Mining Holding Corporation | Basic Materials | 0.07% | $2.1M | $1.60B | — |
| 84 | MYE | Myers Industries, Inc. | Consumer Cyclical | 0.07% | $2.1M | $1.18B | 23.2 |
| 85 | RYZ | Ryerson Holding Corporation | Industrials | 0.07% | $2.1M | $1.43B | — |
| 86 | MUX | McEwen Mining Inc. | Basic Materials | 0.06% | $1.8M | $970.2M | 12.9 |
| 87 | OI | O-I Glass, Inc. | Consumer Cyclical | 0.06% | $1.7M | $895.8M | — |
| 88 | TMC | TMC the metals company Inc. | Basic Materials | 0.06% | $1.7M | $1.14B | — |
| 89 | SXC | SunCoke Energy, Inc. | Basic Materials | 0.05% | $1.6M | $870.0M | — |
| 90 | KOP | Koppers Holdings Inc. | Basic Materials | 0.05% | $1.6M | $819.2M | — |
| 91 | CMP | Compass Minerals International, Inc. | Basic Materials | 0.05% | $1.6M | $934.5M | 53.0 |
| 92 | PCT | PureCycle Technologies, Inc. | Industrials | 0.05% | $1.4M | $616.8M | — |
| 93 | MTUS | Metallus Inc. | Basic Materials | 0.05% | $1.4M | $852.2M | 108.2 |
| 94 | MATV | Mativ Holdings, Inc. | Basic Materials | 0.05% | $1.3M | $618.7M | 6.8 |
| 95 | LXU | LSB Industries, Inc. | Basic Materials | 0.04% | $1.1M | $765.3M | 21.3 |
| 96 | UAMY | United States Antimony Corporation | Basic Materials | 0.04% | $1.1M | $426.6M | — |
| 97 | TROX | Tronox Holdings plc | Basic Materials | 0.03% | $965,629.61 | $554.2M | — |
| 98 | RYAM | Rayonier Advanced Materials Inc. | Basic Materials | 0.03% | $942,220.41 | $472.8M | — |
| 99 | ASIX | AdvanSix Inc. | Basic Materials | 0.03% | $833,952.85 | $442.0M | — |
| 100 | FTK | Flotek Industries, Inc. | Energy | 0.03% | $828,100.55 | $871.5M | 24.8 |
| 101 | ASPN | Aspen Aerogels, Inc. | Basic Materials | 0.03% | $792,986.74 | $430.7M | — |
| 102 | MAGN | Magnera Corp placeholder | Consumer Defensive | 0.03% | $740,316.04 | $396.1M | — |
| 103 | ASPI | ASP Isotopes Inc. | Basic Materials | 0.02% | $705,202.23 | $328.1M | — |
| 104 | IPI | Intrepid Potash, Inc. | Basic Materials | 0.02% | $702,276.08 | $435.5M | 35.6 |
| 105 | OEC | Orion Engineered Carbons S.A. | Basic Materials | 0.02% | $623,270.02 | $301.8M | — |
| 106 | CLW | Clearwater Paper Corporation | Basic Materials | 0.02% | $591,082.37 | $311.3M | — |
| 107 | METC | Ramaco Resources, Inc. | Basic Materials | 0.02% | $564,747.02 | $498.6M | — |
| 108 | KRO | Kronos Worldwide, Inc. | Basic Materials | 0.01% | $339,433.44 | $855.2M | — |
| 109 | PACK | Ranpak Holdings Corp. | Consumer Cyclical | 0.01% | $333,581.14 | $296.7M | — |
| 110 | MERC | Mercer International Inc. | Basic Materials | 0.00% | $23,409.20 | $12.7M | — |
Weights as a percentage of net assets. Value held = weight × net assets ($2.93B). Market cap and P/E from each company's latest fundamentals (U.S.-listed stocks).
VAW sector breakdown
| Sector | Weight | Holdings | Largest |
|---|---|---|---|
| Basic Materials | 89.7% | 89 | LIN, NEM, FCX |
| Consumer Cyclical | 9.2% | 15 | SW, PKG, AMCR |
| Industrials | 0.6% | 3 | CMC, RYZ, PCT |
| Healthcare | 0.5% | 1 | ATR |
| Energy | 0.0% | 1 | FTK |
| Consumer Defensive | 0.0% | 1 | MAGN |
Sum of the weights of the holdings in each sector.
VAW top industries
Specialty Chemicals
41.8%
Gold
11.2%
Building Materials
10.0%
Packaging & Containers
9.2%
Steel
7.8%
Copper
7.0%
Agricultural Inputs
5.7%
Chemicals
2.1%
Aluminum
1.3%
Other Industrial Metals & Mining
1.2%
Other Precious Metals & Mining
1.0%
Medical Instruments & Supplies
0.5%
Metal Fabrication
0.5%
Coking Coal
0.5%
Paper & Paper Products
0.1%
VAW overlap with other ETFs
| ETF | Fund | Overlap | Shared holdings | Expense ratio |
|---|---|---|---|---|
| FMAT | Fidelity MSCI Materials ETF | 94.1% | 98 of 103 | 0.08% |
| XLB | Materials Select Sector SPDR Fund | 68.5% | 24 of 24 | 0.09% |
| IYM | iShares U.S. Basic Materials ETF | 63.7% | 30 of 40 | 0.42% |
| SMN | ProShares UltraShort Basic Materials | 57.4% | 36 of 46 | 0.91% |
| DIA | SPDR Dow Jones Industrial Average ETF | 4.0% | 1 of 30 | 0.16% |
| IWM | iShares Russell 2000 ETF | 3.5% | 59 of 1,962 | 0.19% |
Overlap = sum over shared holdings of the smaller of the two weights. 100% means identical portfolios.
About the VAW portfolio
Vanguard Materials ETF holds 110 positions. The ten largest make up 58.9% of the fund and the top 50 94.3%, so it behaves like a portfolio of about 19 equally weighted stocks. The biggest positions are Linde plc (15.80%), Newmont Corporation (8.45%), Freeport-McMoRan Inc. (6.96%), Ecolab Inc. (5.07%), The Sherwin-Williams Company (4.98%).
By sector, Basic Materials is 89.7%, Consumer Cyclical is 9.2%, Industrials is 0.6%. Holdings data is from the fund's latest portfolio as reported by EODHD on October 25, 2026; positions change as the fund rebalances.
Related: VAW chart, VAW performance, VAW dividends, VAW valuation, VAW overview.
VAW holdings FAQ
How many holdings does VAW have?
VAW holds 110 positions as of October 25, 2026.
What are the top 10 holdings of VAW?
The ten largest holdings are Linde plc (15.80%), Newmont Corporation (8.45%), Freeport-McMoRan Inc. (6.96%), Ecolab Inc. (5.07%), The Sherwin-Williams Company (4.98%), Air Products and Chemicals, Inc. (4.08%), CRH PLC (3.99%), Corteva, Inc. (3.76%), Nucor Corporation (3.68%), Steel Dynamics, Inc. (2.16%). Together they are 58.9% of the fund.
What percentage of VAW is Linde plc?
Linde plc is the largest holding at 15.80% of net assets, about $462.4M of the fund's $2.93B.
Which sector is the largest in VAW?
Basic Materials is the largest sector at 89.7%, followed by Consumer Cyclical (9.2%) and Industrials (0.6%), based on the sectors of the individual holdings.
How concentrated is VAW?
The top 10 holdings are 58.9% of the fund. By the effective number of holdings (1 divided by the sum of squared weights) VAW behaves like a portfolio of about 19 equally weighted stocks.