Invesco Global Water ETF (PIO) Performance
PIO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.6% since Dec 31, 2025
- 1 year
- −2.2% total return
- 5 years
- +2.3% a year
- 10 years
- +8.8% a year
- Since first price
- +4.4% a year since 2007
PIO trailing returns vs SPY, QQQ, AGG
| Period | PIO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.1% | +3.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.7% | +1.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −3.0% | −3.7% | +7.8% | +8.4% | −1.5% |
| YTD | +1.6% | +0.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −2.2% | −3.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +43.6%+12.8%/yr | +39.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +12.3%+2.3%/yr | +6.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +131.9%+8.8%/yr | +106.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +221.0%+8.1%/yr | +164.3% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJun 13, 2007 | +129.0%+4.4%/yr | +80.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PIO vs SPY
From Jun 13, 2007: PIO grew to $22,903, SPY to $71,438.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PIO returns by calendar year
12 of 18 full years positive. Best 2009 (+39.0%), worst 2008 (−45.8%). 2026 is year to date.
PIO annual returns table
| Year | PIO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +1.6% | −13.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +14.3% | −13.5% | +17.7% | +20.8% | +7.2% |
| 2024 | −0.4% | −9.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +22.2% | −15.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −24.1% | −33.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.0% | −9.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +14.2% | −35.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +35.6% | −6.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −9.7% | −17.0% | −4.6% | −0.1% | +0.1% |
| 2017 | +26.5% | −4.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +0.8% | −11.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −7.5% | −20.7% | +1.2% | +9.4% | +0.5% |
| 2014 | +0.7% | −13.9% | +13.5% | +19.2% | +6.0% |
| 2013 | +30.4% | −9.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +17.8% | −13.7% | +16.0% | +18.1% | +3.8% |
| 2011 | −20.9% | −29.8% | +1.9% | +3.4% | +7.7% |
| 2010 | +11.2% | −16.8% | +15.1% | +19.9% | +6.4% |
| 2009 | +39.0% | −30.6% | +26.4% | +54.7% | +3.0% |
| 2008 | −45.8% | −57.9% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PIO largest drawdowns
Now 7.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 31, 2007 | −64.9% | Mar 9, 2009 | Jun 9, 2014 | 1.4 years | 6.6 years |
| Feb 19, 2020 | −35.8% | Mar 23, 2020 | Sep 2, 2020 | 33 days | 6 months |
| Dec 29, 2021 | −34.3% | Sep 27, 2022 | Mar 28, 2024 | 9 months | 2.2 years |
| May 21, 2015 | −26.3% | Feb 11, 2016 | Sep 8, 2017 | 9 months | 2.3 years |
| May 15, 2024 | −17.1% | Apr 8, 2025 | May 15, 2025 | 11 months | 1.0 years |
| Jan 26, 2018 | −17.0% | Dec 24, 2018 | Mar 13, 2019 | 11 months | 1.1 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PIO risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +9.6% | +2.7% | +8.1% | +4.1% |
| Volatility (annualized) | 16.8% | 18.8% | 17.1% | 19.6% |
| Sharpe ratio | 0.37 | 0.05 | 0.41 | 0.24 |
| Sortino ratio | 0.59 | 0.07 | 0.60 | 0.33 |
| Best month | +14.7% | +14.7% | +14.7% | +18.2% |
| Worst month | −10.0% | −11.5% | −15.0% | −26.7% |
| Best 12 months | +28.6% | +28.6% | +49.3% | +70.4% |
| Worst 12 months | −6.1% | −26.7% | −26.7% | −55.3% |
| Positive months | 56% | 50% | 61% | 58% |
| Beta vs S&P 500 | 0.90 | 0.98 | 0.94 | — |
| Correlation with S&P 500 | 0.67 | 0.82 | 0.84 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PIO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 221 | −55.3% | +9.1% | +70.4% | 70% |
| 3-year (a year) | 197 | −13.4% | +7.2% | +25.0% | 89% |
| 5-year (a year) | 173 | −7.7% | +7.3% | +20.3% | 92% |
| 10-year (a year) | 113 | +0.6% | +7.6% | +12.4% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
PIO performance overview
Invesco Global Water ETF (PIO) returned −2.2% over the past year and +8.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +4.4% a year, turning $10,000 into about $22,903. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −64.9%, from Oct 31, 2007 to Mar 9, 2009, and it took 5.3 years to get back to the old high. PIO finished 12 of its 18 full calendar years with a gain; the best year was 2009 (+39.0%) and the worst 2008 (−45.8%). Volatility has been 19.6% a year.
Related: PIO chart, PIO holdings, PIO dividends. See the PIO overview for the latest quote and fund facts.
PIO performance FAQ
What is the PIO return over the past year?
PIO returned −2.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.1%.
What is the average annual return of PIO?
PIO has returned +2.3% a year over 5 years, +8.8% a year over 10 years, +4.4% a year since June 13, 2007 (total return, distributions reinvested).
How much would $10,000 invested in PIO be worth?
$10,000 invested in PIO at its first recorded close on June 13, 2007 would be worth about $22,903 on October 23, 2026 with distributions reinvested.
What was the worst year for PIO?
The worst calendar year was 2008, with a total return of −45.8%. The best was 2009 at +39.0%.
What is the biggest drawdown of PIO?
The largest peak-to-trough decline was −64.9% between October 31, 2007 and March 9, 2009. It recovered to the old high on June 9, 2014, 5.3 years after the bottom.
How volatile is PIO?
Over the past 3 years PIO had an annualized volatility of 16.8% and a Sharpe ratio of 0.37 (excess return over 1–3 month T-bills per unit of risk).