asyncio.wait is more low level than asyncio.gather.

As the name suggests, asyncio.gather mainly focuses on gathering the results. It waits on a bunch of futures and returns their results in a given order.

asyncio.wait just waits on the futures. And instead of giving you the results directly, it gives done and pending tasks. You have to manually collect the values.

Moreover, you could specify to wait for all futures to finish or just the first one with wait.

I also noticed that you can provide a group of coroutines in wait() by simply specifying the list:

result=loop.run_until_complete(asyncio.wait([
        say('first hello', 2),
        say('second hello', 1),
        say('third hello', 4)
    ]))

Whereas grouping in gather() is done by just specifying multiple coroutines:

result=loop.run_until_complete(asyncio.gather(
        say('first hello', 2),
        say('second hello', 1),
        say('third hello', 4)
    ))

A very important distinction, which is easy to miss, is the default behavior of these two functions, when it comes to exceptions.

---

I’ll use this example to simulate a coroutine that will raise exceptions, sometimes –

import asyncio
import random


async def a_flaky_tsk(i):
    await asyncio.sleep(i)  # bit of fuzz to simulate a real-world example

    if i % 2 == 0:
        print(i, "ok")
    else:
        print(i, "crashed!")
        raise ValueError

coros = [a_flaky_tsk(i) for i in range(10)]

---

await asyncio.gather(*coros) outputs –

0 ok
1 crashed!
Traceback (most recent call last):
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 20, in <module>
    asyncio.run(main())
  File "/Users/dev/.pyenv/versions/3.8.2/lib/python3.8/asyncio/runners.py", line 43, in run
    return loop.run_until_complete(main)
  File "/Users/dev/.pyenv/versions/3.8.2/lib/python3.8/asyncio/base_events.py", line 616, in run_until_complete
    return future.result()
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 17, in main
    await asyncio.gather(*coros)
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 12, in a_flaky_tsk
    raise ValueError
ValueError

As you can see, the coros after index 1 never got to execute. Future returned by gather() is done at that point (unlike wait()) and program terminates, but if you could keep the program alive, other coroutines still would have chance to run:

async def main():
    coros = [a_flaky_tsk(i) for i in range(10)]
    await asyncio.gather(*coros)
    

if __name__ == '__main__':
    loop = asyncio.new_event_loop()
    loop.create_task(main())
    loop.run_forever()

# 0 ok
# 1 crashed!
# Task exception was never retrieved
#  ....
# 2 ok
# 3 crashed!
# 4 ok
# 5 crashed!
# 6 ok
# 7 crashed!
# 8 ok
# 9 crashed!

---

But await asyncio.wait(coros) continues to execute tasks, even if some of them fail (Future returned by wait() is not done, unlike gather()) –

0 ok
1 crashed!
2 ok
3 crashed!
4 ok
5 crashed!
6 ok
7 crashed!
8 ok
9 crashed!
Task exception was never retrieved
future: <Task finished name='Task-10' coro=<a_flaky_tsk() done, defined at /Users/dev/PycharmProjects/trading/xxx.py:6> exception=ValueError()>
Traceback (most recent call last):
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 12, in a_flaky_tsk
    raise ValueError
ValueError
Task exception was never retrieved
future: <Task finished name='Task-8' coro=<a_flaky_tsk() done, defined at /Users/dev/PycharmProjects/trading/xxx.py:6> exception=ValueError()>
Traceback (most recent call last):
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 12, in a_flaky_tsk
    raise ValueError
ValueError
Task exception was never retrieved
future: <Task finished name='Task-2' coro=<a_flaky_tsk() done, defined at /Users/dev/PycharmProjects/trading/xxx.py:6> exception=ValueError()>
Traceback (most recent call last):
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 12, in a_flaky_tsk
    raise ValueError
ValueError
Task exception was never retrieved
future: <Task finished name='Task-9' coro=<a_flaky_tsk() done, defined at /Users/dev/PycharmProjects/trading/xxx.py:6> exception=ValueError()>
Traceback (most recent call last):
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 12, in a_flaky_tsk
    raise ValueError
ValueError
Task exception was never retrieved
future: <Task finished name='Task-3' coro=<a_flaky_tsk() done, defined at /Users/dev/PycharmProjects/trading/xxx.py:6> exception=ValueError()>
Traceback (most recent call last):
  File "/Users/dev/PycharmProjects/trading/xxx.py", line 12, in a_flaky_tsk
    raise ValueError
ValueError

---

Of course, this behavior can be changed for both by using –

asyncio.gather(..., return_exceptions=True)

or,

asyncio.wait([...], return_when=asyncio.FIRST_EXCEPTION)

---

But it doesn’t end here!

Notice:
Task exception was never retrieved
in the logs above.

asyncio.wait() won’t re-raise exceptions from the child tasks until you await them individually. (The stacktrace in the logs are just messages, they cannot be caught!)

done, pending = await asyncio.wait(coros)
for tsk in done:
    try:
        await tsk
    except Exception as e:
        print("I caught:", repr(e))

Output –

0 ok
1 crashed!
2 ok
3 crashed!
4 ok
5 crashed!
6 ok
7 crashed!
8 ok
9 crashed!
I caught: ValueError()
I caught: ValueError()
I caught: ValueError()
I caught: ValueError()
I caught: ValueError()

---

On the other hand, to catch exceptions with asyncio.gather(), you must –

results = await asyncio.gather(*coros, return_exceptions=True)
for result_or_exc in results:
    if isinstance(result_or_exc, Exception):
        print("I caught:", repr(result_or_exc))

(Same output as before)

In addition to all the previous answers, I would like to tell about the different behavior of gather() and wait() in case they are cancelled.

Gather() cancellation

If gather() is cancelled, all submitted awaitables (that have not completed yet) are also cancelled.

Wait() cancellation

If the wait()ing task is cancelled, it simply throws an CancelledError and the waited tasks remain intact.

Simple example:

import asyncio


async def task(arg):
    await asyncio.sleep(5)
    return arg


async def cancel_waiting_task(work_task, waiting_task):
    await asyncio.sleep(2)
    waiting_task.cancel()
    try:
        await waiting_task
        print("Waiting done")
    except asyncio.CancelledError:
        print("Waiting task cancelled")

    try:
        res = await work_task
        print(f"Work result: {res}")
    except asyncio.CancelledError:
        print("Work task cancelled")


async def main():
    work_task = asyncio.create_task(task("done"))
    waiting = asyncio.create_task(asyncio.wait({work_task}))
    await cancel_waiting_task(work_task, waiting)

    work_task = asyncio.create_task(task("done"))
    waiting = asyncio.gather(work_task)
    await cancel_waiting_task(work_task, waiting)


asyncio.run(main())

Output:

asyncio.wait()
Waiting task cancelled
Work result: done
----------------
asyncio.gather()
Waiting task cancelled
Work task cancelled

---

Application example

Sometimes it becomes necessary to combine wait() and gather() functionality. For example, we want to wait for the completion of at least one task and cancel the rest pending tasks after that, and if the waiting itself was canceled, then also cancel all pending tasks.

As real examples, let’s say we have a disconnect event and a work task. And we want to wait for the results of the work task, but if the connection was lost, then cancel it. Or we will make several parallel requests, but upon completion of at least one response, cancel all others.

It could be done this way:

import asyncio
from typing import Optional, Tuple, Set


async def wait_any(
        tasks: Set[asyncio.Future], *, timeout: Optional[int] = None,
) -> Tuple[Set[asyncio.Future], Set[asyncio.Future]]:
    tasks_to_cancel: Set[asyncio.Future] = set()
    try:
        done, tasks_to_cancel = await asyncio.wait(
            tasks, timeout=timeout, return_when=asyncio.FIRST_COMPLETED
        )
        return done, tasks_to_cancel
    except asyncio.CancelledError:
        tasks_to_cancel = tasks
        raise
    finally:
        for task in tasks_to_cancel:
            task.cancel()


async def task():
    await asyncio.sleep(5)


async def cancel_waiting_task(work_task, waiting_task):
    await asyncio.sleep(2)
    waiting_task.cancel()
    try:
        await waiting_task
        print("Waiting done")
    except asyncio.CancelledError:
        print("Waiting task cancelled")

    try:
        res = await work_task
        print(f"Work result: {res}")
    except asyncio.CancelledError:
        print("Work task cancelled")


async def check_tasks(waiting_task, working_task, waiting_conn_lost_task):
    try:
        await waiting_task
        print("waiting is done")
    except asyncio.CancelledError:
        print("waiting is cancelled")

    try:
        await waiting_conn_lost_task
        print("connection is lost")
    except asyncio.CancelledError:
        print("waiting connection lost is cancelled")

    try:
        await working_task
        print("work is done")
    except asyncio.CancelledError:
        print("work is cancelled")


async def work_done_case():
    working_task = asyncio.create_task(task())
    connection_lost_event = asyncio.Event()
    waiting_conn_lost_task = asyncio.create_task(connection_lost_event.wait())
    waiting_task = asyncio.create_task(wait_any({working_task, waiting_conn_lost_task}))
    await check_tasks(waiting_task, working_task, waiting_conn_lost_task)


async def conn_lost_case():
    working_task = asyncio.create_task(task())
    connection_lost_event = asyncio.Event()
    waiting_conn_lost_task = asyncio.create_task(connection_lost_event.wait())
    waiting_task = asyncio.create_task(wait_any({working_task, waiting_conn_lost_task}))
    await asyncio.sleep(2)
    connection_lost_event.set()  # <---
    await check_tasks(waiting_task, working_task, waiting_conn_lost_task)


async def cancel_waiting_case():
    working_task = asyncio.create_task(task())
    connection_lost_event = asyncio.Event()
    waiting_conn_lost_task = asyncio.create_task(connection_lost_event.wait())
    waiting_task = asyncio.create_task(wait_any({working_task, waiting_conn_lost_task}))
    await asyncio.sleep(2)
    waiting_task.cancel()  # <---
    await check_tasks(waiting_task, working_task, waiting_conn_lost_task)


async def main():
    print("Work done")
    print("-------------------")
    await work_done_case()
    print("nConnection lost")
    print("-------------------")
    await conn_lost_case()
    print("nCancel waiting")
    print("-------------------")
    await cancel_waiting_case()


asyncio.run(main())

Output:

Work done
-------------------
waiting is done
waiting connection lost is cancelled
work is done

Connection lost
-------------------
waiting is done
connection is lost
work is cancelled

Cancel waiting
-------------------
waiting is cancelled
waiting connection lost is cancelled
work is cancelled