EXI vs XLI: Grades, Fees and Holdings Compared

iShares Global Industrials ETF

EXICNYSE Arca

State Street Industrial Select Sector SPDR ETF

XLIANYSE Arca

Overlap

55.3%by weight

Expense ratio

XLI −0.30pt a year

EXI0.38%XLI0.08%

Avg volume · 30D

XLI 121.2×the volume

EXI58.3KXLI7.07M

10Y return · a year

XLI +1.4pt

EXI+11.8%XLI+13.2%

EXI vs XLI Performance

Oct 29, 2021 – Oct 30, 2026

+64.8%EXI+72.6%XLI

Expense ratio: EXI 0.38%; XLI 0.08%, better
Fund size: EXI $1.38B; XLI $31.5B
1Y total return: EXI +8.6%; XLI +9.2%, better
Yield (12M): EXI 1.13%; XLI 1.13%
Holdings: EXI 236; XLI 85
Avg volume (30D): EXI 58.3K sh; XLI 7.07M sh, better
NAV per share: EXI $186.86; XLI $170.10
52W range

ETF.net Grade

Pillar letters and Scores for EXI, XLI, with each pillar’s weight
Pillar	EXI	XLI
Cost30% weight	C41	A90Higher
Mission25% weight	Not scored	A85
Risk15% weight	A73Higher	B67
Tradability15% weight	D34	A95Higher
Holdings10% weight	A76Higher	C44
Durability5% weight	B69	A81Higher

Rank among Industrials (Broad) funds

How we build Categories ›

Same Category. EXI and XLI are both graded against the same 10 Industrials (Broad) funds, so their Grades compare head to head.

Industrials (Broad)⁠

Category · 10 funds

See all 10 ›

XLI ranks 1st and EXI 4th of 10 funds in the Industrials (Broad) Category.

Rank 1AXLIState Street Industrial Select Sector SPDR ETFScore 79
Rank 2AFIDUFidelity MSCI Industrials Index ETFScore 72
Rank 3BVISVanguard Industrials ETFScore 64
Rank 4CEXIiShares Global Industrials ETFScore 52
Rank 4CIYJiShares U.S. Industrials ETFScore 52

Our read on each fund

ETF.net Research

EXICiShares Global Industrials ETF

XLIAState Street Industrial Select Sector SPDR ETF

In short

EXI Most industrials ETFs stop at the US border. EXI has tracked a global industrials index since 2006, spreading roughly 220 machinery, aerospace and transport names across developed markets.

XLI One of the original 1998 sector SPDRs: the S&P 500's industrial engine (defense primes, machinery, railroads, freight) in about 80 large-cap names for 0.08% a year.

Stated mandate

EXI The fund seeks to track an index representing global equities in the industrials sector.

XLI The fund seeks to track, before expenses, the price and yield performance of the Industrial Select Sector Index.

Why people hold it

EXI Global by design: the S&P Global 1200 Industrials Capped Index reaches past US factories into Europe and Asia in a single ticket.ishares.com
It follows the capped version of the index, so no single conglomerate can dominate a basket of about 220 companies.ishares.com
Live since 2006, through the financial crisis, trade fights and supply-chain chaos, and now a multi-billion-dollar iShares fund.

XLI Charges 0.08% a year against a peer-group median of 0.38%, putting it at the bottom of the fee table with FIDU and a hair under VIS.
Launched in December 1998 as one of the first US sector funds. Decades of live history, a multi-billion-dollar asset base, and very heavy daily trading.
Plain index fund, no factor tilts or screens: it owns the industrial sector of the S&P 500 as defined, and has tracked that index closely.ssga.com
Rates in the top quartile of the broad industrials funds we cover, one of the stronger implementations in the group.

Worth knowing

EXI The 0.38% fee sits at the industrials group's midpoint, but US-only rivals such as XLI (0.08%) and VIS (0.09%) charge a fraction of it.
Overseas holdings pull currency moves and foreign market hours into the price, a layer domestic industrials funds skip.ishares.com
Moderately traded rather than heavily, so spreads can run wider than the busiest sector funds, and cash goes out annually or semiannually, not monthly.

XLI S&P 500 only, so mid and small caps are out. VIS and FIDU reach further down the cap ladder; PSCI covers small-cap industrials exclusively.ssga.com
About 80 stocks weighted by market value, so the aerospace, defense and machinery giants at the top drive most of the move. RSPN spreads it evenly for 0.40%.
One sector, one economy: industrials swing with the business cycle, and this is a concentrated slice rather than a diversified core holding. Pays quarterly.

Full EXI profile⁠

Full XLI profile⁠

EXI vs XLI Holdings

How EXI and XLI differ

Overlap by weight

55.3%

Shared holdings make up 100% of XLI and 55.3% of EXI.

Level by level

Holdings83 in both55.3%
Countryby domicile59.3%
Sector7 Sectors97.9%
Asset classEquity100%

Sector

Sector weights in EXI and XLI, widest gap first
Sector	More in EXIMore in XLI	EXI	XLI
Technology	XLI +1.8 points	4.3%	6.1%
Communication	EXI +1.8 points	1.8%	0.0%
Industrials	XLI +0.3 points	93.1%	93.4%
Financials	EXI +0.2 points	0.2%	0.0%
Consumer Staples	EXI +0.1 points	0.1%	0.0%
Materials	EXI +0.1 points	0.4%	0.3%
Consumer Discretionary	Same weight	0.2%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in EXI and XLI, widest gap first
Country	More in EXIMore in XLI	EXI	XLI
United States	XLI +40.7 points	59.3%	100.0%
Japan	EXI +14.9 points	14.9%	0.0%
France	EXI +6.5 points	6.5%	0.0%
Germany	EXI +5.5 points	5.5%	0.0%
United Kingdom	EXI +4.6 points	4.6%	0.0%
Sweden	EXI +3.4 points	3.4%	0.0%
Switzerland	EXI +2.6 points	2.6%	0.0%
Canada	EXI +2.0 points	2.0%	0.0%
South Korea	EXI +1.1 points	1.1%	0.0%

Outside the US: EXI 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

EXI22.1%
XLI37.5%

Securities held

EXI218
XLI83

Asset class

EXI: Equity
XLI: Equity

Holdings

Only in EXI135
In both83
Only in XLI0

Only in EXI

135 securities, 44.4% of EXI by weight

Siemens N AG2.22%
Recruit Holdings Ltd1.77%
Schneider Electric1.56%
Hitachi1.53%
Rolls-Royce Holdings PLC1.44%
Airbus Group1.38%
Abb Ltd1.37%
Mitsubishi1.18%
Siemens Energy N AG1.10%
Safran SA1.10%
Itochu1.07%
Mitsui0.95%
Bae Systems PLC0.87%
Canadian Pacific Kansas City0.82%
Mitsubishi Heavy Industries0.76%
Relx PLC0.73%
Canadian National Railway0.70%
Sk Square0.62%
Vinci SA0.62%
Dhl AG0.62%
Mitsubishi Electric0.62%
Rheinmetall AG0.56%
Marubeni0.54%
Sumitomo0.53%
Volvo Class B0.52%
Atlas Copco Class A0.49%
Waste Connections0.48%
Dsv0.43%
Fujikura0.43%
Assa Abloy B0.41%
Sandvik0.41%
Legrand SA0.40%
Daikin Industries Ltd0.39%
Prysmian0.38%
Komatsu0.38%
Experian PLC0.37%
Compagnie De Saint Gobain SA0.36%
Fanuc Corp0.35%
Toyota Tsusho0.32%
Transurban Group Stapled Units0.32%
Vestas Wind Systems0.29%
Ferrovial NV0.28%
East Japan Railway0.28%
Atlas Copco Class B0.27%
Kone0.25%
Techtronic Industries0.25%
Geberit AG0.25%
Leonardo Finmeccanica Spa0.24%
Thales SA0.24%
Central Japan Railway0.24%

Only in XLI

0 securities, 0.0% of XLI by weight

Weight gaps

All 83 Holdings in both funds, largest gap first.

Holding weights in EXI and XLI, widest gap first
Holding	More in EXIMore in XLI	EXI	XLI
Ge AerospaceGE	XLI +2.76 points	3.25%	6.01%
Caterpillar IncCAT	XLI +2.53 points	2.98%	5.51%
RtxRTX	XLI +2.17 points	2.80%	4.97%
Ge VernovaGEV	XLI +2.00 points	2.38%	4.38%
Union PacificUNP	XLI +1.44 points	1.88%	3.32%
Eaton PLCETN	XLI +1.34 points	1.49%	2.83%
DeereDE	XLI +1.31 points	1.76%	3.07%
BoeingBA	XLI +1.11 points	1.41%	2.52%
Uber TechnologiesUBER	XLI +1.09 points	1.39%	2.48%
Lockheed MartinLMT	XLI +1.08 points	1.34%	2.42%
Parker-HannifinPH	XLI +0.99 points	1.18%	2.17%
Automatic Data Processing IncADP	XLI +0.89 points	1.21%	2.10%
Johnson Controls International PLCJCI	XLI +0.83 points	0.94%	1.77%
Vertiv Holdings Class AVRT	XLI +0.82 points	0.93%	1.75%
Trane Technologies PLCTT	XLI +0.82 points	0.94%	1.76%
Emerson ElectricEMR	XLI +0.80 points	0.96%	1.76%
Quanta Services IncPWR	XLI +0.80 points	0.97%	1.77%
CsxCSX	XLI +0.79 points	1.00%	1.79%
General Dynamics CorpGD	XLI +0.76 points	0.98%	1.74%
3MMMM	XLI +0.75 points	0.94%	1.69%
Howmet AerospaceHWM	XLI +0.69 points	0.83%	1.52%
Waste Management IncWM	XLI +0.69 points	0.90%	1.59%
United Parcel Service Inc Class BUPS	XLI +0.65 points	0.84%	1.49%
United RentalsURI	XLI +0.62 points	0.76%	1.38%
Norfolk Southern CorpNSC	XLI +0.62 points	0.80%	1.42%
Northrop Grumman CorpNOC	XLI +0.62 points	0.77%	1.39%
CintasCTAS	XLI +0.61 points	0.78%	1.39%
Cummins IncCMI	XLI +0.60 points	0.72%	1.32%
Illinois Tool IncITW	XLI +0.60 points	0.75%	1.35%
Bloom Energy Class ABE	XLI +0.59 points	0.62%	1.21%
Honeywell International IncHON	XLI +0.58 points	0.72%	1.30%
Transdigm GroupTDG	XLI +0.54 points	0.66%	1.20%
Fedex CorpFDX	XLI +0.53 points	0.72%	1.25%
FastenalFAST	XLI +0.50 points	0.62%	1.12%
Ametek IncAME	XLI +0.49 points	0.58%	1.07%
Ww Grainger IncGWW	XLI +0.49 points	0.61%	1.10%
Paccar IncPCAR	XLI +0.44 points	0.56%	1.00%
Honeywell Aerospace IncHONA	XLI +0.43 points	0.51%	0.94%
Rockwell Automation IncROK	XLI +0.43 points	0.50%	0.93%
L3HARRIS TechnologiesLHX	XLI +0.42 points	0.54%	0.96%
Comfort Systems UsaFIX	XLI +0.41 points	0.45%	0.86%
Westinghouse Air Brake TechnologieWAB	XLI +0.40 points	0.49%	0.89%
Delta Air LinesDAL	XLI +0.40 points	0.50%	0.90%
Carrier GlobalCARR	XLI +0.39 points	0.46%	0.85%
Ferguson EnterprisesFERG	XLI +0.38 points	0.48%	0.86%
Republic Services IncRSG	XLI +0.36 points	0.50%	0.86%
Axon EnterpriseAXON	XLI +0.30 points	0.36%	0.66%
United Airlines HoldingsUAL	XLI +0.28 points	0.35%	0.63%
PaychexPAYX	XLI +0.28 points	0.37%	0.65%
Old Dominion Freight LineODFL	XLI +0.26 points	0.33%	0.59%
Emcor GroupEME	XLI +0.25 points	0.31%	0.56%
DoverDOV	XLI +0.23 points	0.29%	0.52%
Otis WorldwideOTIS	XLI +0.23 points	0.30%	0.53%
Ingersoll RandIR	XLI +0.22 points	0.29%	0.51%
Expeditors International of WashinEXPD	XLI +0.21 points	0.27%	0.48%
Hubbell IncHUBB	XLI +0.20 points	0.23%	0.43%
Copart IncCPRT	XLI +0.20 points	0.26%	0.46%
Verisk AnalyticsVRSK	XLI +0.19 points	0.27%	0.46%
VeraltoVLTO	XLI +0.19 points	0.28%	0.47%
Southwest AirlinesLUV	XLI +0.17 points	0.22%	0.39%
Xylem IncXYL	XLI +0.17 points	0.22%	0.39%
EquifaxEFX	XLI +0.17 points	0.22%	0.39%
FortiveFTV	XLI +0.17 points	0.20%	0.37%
Broadridge Financial Solutions IncBR	XLI +0.17 points	0.21%	0.38%
Dupont De NemoursDD	XLI +0.15 points	0.20%	0.35%
Snap On IncSNA	XLI +0.15 points	0.19%	0.34%
IdexIEX	XLI +0.15 points	0.18%	0.33%
NordsonNDSN	XLI +0.14 points	0.18%	0.32%
Leidos HoldingsLDOS	XLI +0.14 points	0.19%	0.33%
Jacobs Solutions IncJ	XLI +0.14 points	0.19%	0.33%
Jb Hunt Transport ServicesJBHT	XLI +0.13 points	0.17%	0.30%
Allegion PLCALLE	XLI +0.13 points	0.16%	0.29%
MascoMAS	XLI +0.12 points	0.17%	0.29%
Stanley Black & DeckerSWK	XLI +0.13 points	0.16%	0.29%
Ch Robinson WorldwideCHRW	XLI +0.13 points	0.15%	0.28%
Textron IncTXT	XLI +0.12 points	0.16%	0.28%
Huntington Ingalls IndustriesHII	XLI +0.10 points	0.13%	0.23%
Generac HoldingsGNRC	XLI +0.10 points	0.12%	0.22%
Lennox InternationalLII	XLI +0.09 points	0.11%	0.20%
Fedex Freight Holding Company IncFDXF	XLI +0.08 points	0.16%	0.24%
Rollins IncROL	XLI +0.08 points	0.11%	0.19%
PentairPNR	XLI +0.08 points	0.11%	0.19%
A O SmithAOS	XLI +0.06 points	0.07%	0.13%

All 218 EXI holdings⁠All 83 XLI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EXI vs XLI Cost

Overpaying EXI vs XLI

$6,017

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EXI 0.38%
$7,706
XLI 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

EXI 0.38%
XLI 0.08%
Overpaying

Year by year

Year	EXI	XLI	Overpaying
10	$688	$147	$541
20	$2,658	$575	$2,083
30	$7,706	$1,689	$6,017

Expense ratio

0.38%EXI
0.08%XLI, cheaper

XLI0.08%EXI0.38%

0.08%0.60%

Middle half of Industrials (Broad) funds
Median 0.33%

XLI cheapest of 10 funds

EXI 7th cheapest of 10 funds

EXI vs XLI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EXI 1.13%; XLI 1.13%
Payout (12M): EXI $2.12; XLI $1.88
Last payment: EXI $1.15; XLI $0.45
Ex-dividend: EXI Jun 15, 2026; XLI Sep 21, 2026
Paid on: EXI Jun 18, 2026; XLI Sep 23, 2026
Frequency: EXI Twice a year; XLI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EXITwice a year · 20 paymentsAll EXI payments⁠

XLIQuarterly · 39 paymentsAll XLI payments⁠

EXI vs XLI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: EXI 14.7%, betterXLI 15.9%
Return per unit of riskSharpe ratio, 3 years: EXI 1.10, betterXLI 1.01
Worst fallMax drawdown, 5 years: EXI −27.2%XLI −21.7%, better
Market sensitivityBeta, 5 years: EXI 0.99XLI 1.00; Market = 1

EXI and XLI in the news

All news⁠

Sector Pulse
Caterpillar and Deere fell as industrials dropped 2.2%
Oct 7, 2026XLI
Closing Bell
Industrial Stocks Sink 2.2% as Treasury Yields Hit 24-Year Highs
Oct 7, 2026XLI
New ETFs
iShares' new AI fund holds $220 million, and Walmart is its largest stock
Oct 5, 2026EXI
New ETFs
A new US bank ETF puts 42% in four megabanks and charges 0.14%
Oct 5, 2026EXI
Behind the Index
Apple, Microsoft, Nvidia, Amazon and Alphabet rose, and the S&P 500 fund still fell
Sep 30, 2026XLI
Sector Pulse
Industrials led the sector funds as Caterpillar, GE Aerospace and Bloom Energy rose
Sep 26, 2026XLI

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EXI vs XLI

In short

Stated mandate

Why people hold it