FIW: Fundamentals Not Compelling For This $2B Water ETF

2026-02-11 01:31:38 ET

Investment Thesis

I last reviewed the First Trust Water ETF ( FIW ) on October 2, 2025, when I recommended readers avoid it due to concerns about weak earnings surprises for its constituents. While FIW held a decent valuation advantage over the State Street SPDR S&P 500 ETF Trust ( SPY ), I didn't think it was enough to justify a "buy" rating, and in hindsight, that was the correct call. Since that article was published, SPY has outperformed FIW 3.5% to 2.1%....

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