FIDU vs XLI: Grades, Fees and Holdings Compared

Fidelity MSCI Industrials Index ETF

FIDUANYSE Arca

State Street Industrial Select Sector SPDR ETF

XLIANYSE Arca

Overlap

75.1%by weight

Expense ratio

FIDU0.08%XLI0.08%

Avg volume · 30D

XLI 42.4×the volume

FIDU167KXLI7.07M

10Y return · a year

FIDU +0.2pt

FIDU+13.4%XLI+13.2%

FIDU vs XLI Performance

Oct 29, 2021 – Oct 30, 2026

+71.0%FIDU+72.6%XLI

Expense ratio: FIDU 0.08%; XLI 0.08%
Fund size: FIDU $2.32B; XLI $31.5B
1Y total return: FIDU +7.8%; XLI +9.2%, better
Yield (12M): FIDU 0.93%; XLI 1.13%, better
Holdings: FIDU 364; XLI 85
Avg volume (30D): FIDU 167K sh; XLI 7.07M sh, better
NAV per share: FIDU $88.69; XLI $170.10
52W range

ETF.net Grade

Pillar letters and Scores for FIDU, XLI, with each pillar’s weight
Pillar	FIDU	XLI
Cost30% weight	A90	A90
Mission25% weight	Not scored	A85
Risk15% weight	B60	B67Higher
Tradability15% weight	B63	A95Higher
Holdings10% weight	B64Higher	C44
Durability5% weight	B57	A81Higher

Rank among Industrials (Broad) funds

How we build Categories ›

Same Category. FIDU 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 FIDU 2nd 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

Our read on each fund

ETF.net Research

FIDUAFidelity MSCI Industrials Index ETF

XLIAState Street Industrial Select Sector SPDR ETF

In short

FIDU Industrials from the whole US market, not just the S&P 500 slice. Roughly 400 large, mid and small cap names for 0.08% a year, which ties for the lowest fee among broad industrials funds.

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

FIDU The fund seeks investment returns that generally correspond, before fees and expenses, to the performance of the MSCI USA IMI Industrials Index.

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

Why people hold it

FIDU 0.08% a year against a peer-group median of 0.38%. Nothing in the broad industrials cohort charges less, and the equal-weight and small-cap alternatives cost multiples of it.
Tracks an MSCI USA IMI index, the family built to cover large, mid and small caps and about 99% of US free-float market value. That reach shows up as roughly 400 holdings.msci.com
XLI, the category heavyweight, holds only the industrials inside the S&P 500. FIDU adds the mid and small cap machinery, logistics and services names that stop at that line.ssga.com msci.com
Live since 2013 and now a multi-billion-dollar fund that pays quarterly. It sits in the upper half of its industrials peer group.

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

FIDU One sector, so it rises and falls with the industrial cycle: aerospace, machinery, freight, building. It is a slice of the economy, not a substitute for a total-market fund.
Moderately traded rather than a volume leader like XLI or VIS. Spreads can be wider, which matters more on big or hurried orders than on steady small ones.
The small and mid cap tail comes with the broader index, so returns will drift from S&P 500-only industrials funds in both directions.msci.com ssga.com

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 FIDU profile⁠

Full XLI profile⁠

FIDU vs XLI Holdings

How FIDU and XLI differ

Overlap by weight

75.1%

Shared holdings make up 94.5% of XLI and 75.1% of FIDU.

Level by level

Holdings78 in both75.1%
Sector8 Sectors98.6%
Countryby domicile98.9%
Asset classEquity100%

Sector

Sector weights in FIDU and XLI, widest gap first
Sector	More in FIDUMore in XLI	FIDU	XLI
Industrials	XLI +1.4 points	92.0%	93.4%
Consumer Discretionary	FIDU +0.6 points	0.8%	0.2%
Technology	FIDU +0.3 points	6.4%	6.1%
Financials	FIDU +0.2 points	0.2%	0.0%
Materials	FIDU +0.2 points	0.5%	0.3%
Utilities	FIDU +0.1 points	0.1%	0.0%
Health Care	Same weight	0.0%	0.0%
Communication	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FIDU and XLI, widest gap first
Country	More in FIDUMore in XLI	FIDU	XLI
United States	XLI +1.1 points	98.9%	100.0%
Canada	FIDU +0.7 points	0.7%	0.0%
Other countries (2)	FIDU +0.4 points	0.4%	0.0%

Concentration

Weight in the 10 largest Holdings

FIDU30.1%
XLI37.5%

Securities held

FIDU361
XLI83

Asset class

FIDU: Equity
XLI: Equity

Holdings

Only in FIDU283
In both78
Only in XLI5

Only in FIDU

283 securities, 26.7% of FIDU by weight

Eaton Corp PLC2.29%
Securities Lending Cf1.84%
Johnson Controls Internatl PLC1.44%
Waste Connections Inc (Us)0.69%
Sunbelt Rentals Holdings Inc0.52%
Rocket Lab Corp0.48%
Ati Inc0.35%
Nvent Electric PLC0.33%
Xpo Inc0.31%
Ftai Aviation Ltd0.29%
Woodward Inc0.28%
Heico Corp Class A0.28%
Curtiss Wright Corporation0.27%
Itt Inc0.27%
Wesco International Inc0.27%
SS&C Technologies Holdings Inc0.25%
Allegion PLC0.24%
Api Group Corp0.23%
Clean Harbors Inc0.23%
Lincoln Electric Hldgs Inc0.23%
Carlisle Cos Inc0.22%
Caci International Inc0.22%
Transunion0.22%
Carpenter Technology Corp0.22%
Rbc Bearings Inc0.21%
Heico Corp0.21%
Bwx Technologies Inc0.19%
Nextpower Inc0.18%
Mueller Industries Inc0.18%
Applied Industrial Tech Inc0.17%
Sterling Infrastructure Inc0.17%
Graco Inc0.17%
State Street 60 Day Money Mark0.16%
Mastec Inc0.16%
Pentair PLC0.16%
Qxo Inc0.16%
Watsco Inc0.16%
Paycom Software Inc0.16%
Regal Rexnord Corp0.15%
Ryder System Inc0.15%
Moog Inc Class A0.15%
Flowserve Corp0.15%
Toro Co0.15%
Booz Allen Hamilton Hldg Class A0.15%
Donaldson Co Inc0.15%
Crane Co0.15%
Owens Corning Inc0.15%
Cnh Industrial NV A0.15%
Knight-Swift Transportation Ho0.14%
Tetra Tech Inc0.14%

Only in XLI

5 securities, 5.5% of XLI by weight

Eaton Corp PLC2.83%
Johnson Controls Internation1.77%
Southwest Airlines Co0.39%
Allegion PLC0.29%
Pentair PLC0.19%

Weight gaps

All 78 Holdings in both funds, largest gap first.

Holding weights in FIDU and XLI, widest gap first
Holding	More in FIDUMore in XLI	FIDU	XLI
Ge AerospaceGE	XLI +1.15 points	4.86%	6.01%
Caterpillar IncCAT	XLI +1.05 points	4.46%	5.51%
Rtx CorpRTX	XLI +0.95 points	4.02%	4.97%
Ge Vernova IncGEV	XLI +0.81 points	3.57%	4.38%
Uber Technologies IncUBER	XLI +0.73 points	1.75%	2.48%
Delta Air IncDAL	XLI +0.70 points	0.20%	0.90%
Deere & CoDE	XLI +0.67 points	2.40%	3.07%
Union Pacific CorpUNP	XLI +0.64 points	2.68%	3.32%
Boeing CoBA	XLI +0.59 points	1.93%	2.52%
United Airlines Holdings IncUAL	XLI +0.50 points	0.13%	0.63%
General Dynamics CorporationGD	XLI +0.46 points	1.28%	1.74%
Lockheed Martin CorpLMT	XLI +0.42 points	2.00%	2.42%
Parker Hannifin CorpPH	XLI +0.42 points	1.75%	2.17%
Vertiv Holdings CoVRT	XLI +0.41 points	1.34%	1.75%
Automatic Data Processing IncADP	XLI +0.39 points	1.71%	2.10%
Quanta Svcs IncPWR	XLI +0.34 points	1.43%	1.77%
Csx CorpCSX	XLI +0.34 points	1.45%	1.79%
Emerson Electric CoEMR	XLI +0.33 points	1.43%	1.76%
Trane Technologies PLCTT	XLI +0.33 points	1.43%	1.76%
Bloom Energy Corp Class ABE	XLI +0.31 points	0.90%	1.21%
3M CoMMM	XLI +0.31 points	1.38%	1.69%
United Parcel Service Inc Class BUPS	XLI +0.29 points	1.20%	1.49%
Howmet Aerospace IncHWM	XLI +0.29 points	1.23%	1.52%
Cintas CorpCTAS	XLI +0.28 points	1.11%	1.39%
Norfolk Southern CorpNSC	XLI +0.27 points	1.15%	1.42%
United Rentals IncURI	XLI +0.26 points	1.12%	1.38%
Northrop Grumman CorpNOC	XLI +0.25 points	1.14%	1.39%
Cummins IncCMI	XLI +0.25 points	1.07%	1.32%
Honeywell Intl IncHON	XLI +0.25 points	1.05%	1.30%
Fedex CorpFDX	XLI +0.24 points	1.01%	1.25%
Carrier Global CorpCARR	XLI +0.23 points	0.62%	0.85%
Transdigm Group IncTDG	XLI +0.22 points	0.98%	1.20%
Fastenal CoFAST	XLI +0.22 points	0.90%	1.12%
Ametek Inc NewAME	XLI +0.21 points	0.86%	1.07%
Ww Grainger IncGWW	XLI +0.20 points	0.90%	1.10%
Waste Management IncWM	XLI +0.20 points	1.39%	1.59%
Illinois Tool Works IncITW	XLI +0.20 points	1.15%	1.35%
Paccar IncPCAR	XLI +0.19 points	0.81%	1.00%
L3HARRIS Technologies IncLHX	XLI +0.18 points	0.78%	0.96%
Honeywell Aerospace IncHONA	XLI +0.18 points	0.76%	0.94%
Rockwell Automation IncROK	XLI +0.18 points	0.75%	0.93%
Westinghouse Air Brake Tec CrpWAB	XLI +0.16 points	0.72%	0.89%
Comfort Systems Usa IncFIX	XLI +0.16 points	0.70%	0.86%
Ferguson Enterprises IncFERG	XLI +0.16 points	0.70%	0.86%
Axon Enterprise IncAXON	XLI +0.16 points	0.50%	0.66%
Republic Services IncRSG	XLI +0.15 points	0.71%	0.86%
Paychex IncPAYX	XLI +0.13 points	0.52%	0.65%
Old Dominion Freight Lines IncODFL	XLI +0.11 points	0.48%	0.59%
Emcor Group IncEME	XLI +0.10 points	0.46%	0.56%
Dover CorpDOV	XLI +0.10 points	0.42%	0.52%
Otis Worldwide CorpOTIS	XLI +0.10 points	0.43%	0.53%
Fortive CorpFTV	XLI +0.09 points	0.28%	0.37%
Expeditors Intl of Wash IncEXPD	XLI +0.09 points	0.39%	0.48%
Veralto CorpVLTO	XLI +0.09 points	0.38%	0.47%
Verisk Analytics IncVRSK	XLI +0.09 points	0.37%	0.46%
Hubbell IncHUBB	XLI +0.08 points	0.35%	0.43%
Copart IncCPRT	XLI +0.08 points	0.38%	0.46%
Leidos Holdings IncLDOS	XLI +0.08 points	0.25%	0.33%
Equifax IncEFX	XLI +0.07 points	0.32%	0.39%
Xylem IncXYL	XLI +0.07 points	0.32%	0.39%
Broadridge Financial SolBR	XLI +0.07 points	0.31%	0.38%
Dupont De Nemours IncDD	XLI +0.07 points	0.28%	0.35%
Snap-On IncorporatedSNA	XLI +0.06 points	0.28%	0.34%
Hunt J B Transport Services InJBHT	XLI +0.06 points	0.24%	0.30%
Nordson CorpNDSN	XLI +0.06 points	0.26%	0.32%
Idex CorporationIEX	XLI +0.06 points	0.27%	0.33%
Jacobs Solutions IncJ	XLI +0.06 points	0.27%	0.33%
Fedex Freight Holding Co IncFDXF	XLI +0.06 points	0.18%	0.24%
Masco CorporationMAS	XLI +0.05 points	0.24%	0.29%
Ch Robinson Worldwide IncCHRW	XLI +0.05 points	0.23%	0.28%
Textron IncTXT	XLI +0.05 points	0.23%	0.28%
Stanley Black & Decker IncSWK	XLI +0.05 points	0.24%	0.29%
Huntington Ingalls Industr IncHII	XLI +0.04 points	0.19%	0.23%
Generac Holdings IncGNRC	XLI +0.04 points	0.18%	0.22%
Ingersoll Rand IncIR	XLI +0.04 points	0.47%	0.51%
Rollins IncROL	XLI +0.04 points	0.15%	0.19%
Lennox International IncLII	XLI +0.04 points	0.16%	0.20%
Smith (Ao) CorpAOS	XLI +0.02 points	0.11%	0.13%

All 369 FIDU 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.

FIDU vs XLI Cost

Overpaying FIDU vs XLI

$84

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

FIDU 0.084%
$1,773
XLI 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

FIDU 0.084%
XLI 0.08%
Overpaying

Year by year

Year	FIDU	XLI	Overpaying
10	$154	$147	$7
20	$603	$575	$28
30	$1,773	$1,689	$84

Expense ratio

0.08%FIDU
0.08%XLI

XLI0.08%FIDU0.08%

0.08%0.60%

Middle half of Industrials (Broad) funds
Median 0.33%

XLI cheapest of 10 funds

FIDU 2nd cheapest of 10 funds

FIDU vs XLI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FIDU 0.93%; XLI 1.13%, better
Payout (12M): FIDU $0.83; XLI $1.88
Last payment: FIDU $0.21; XLI $0.45
Ex-dividend: FIDU Sep 18, 2026; XLI Sep 21, 2026
Paid on: FIDU Sep 22, 2026; XLI Sep 23, 2026
Frequency: FIDU Quarterly; XLI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FIDUQuarterly · 41 paymentsAll FIDU payments⁠

XLIQuarterly · 39 paymentsAll XLI payments⁠

FIDU vs XLI Risk

Fall from peak · 5 years

FIDU
XLI

Risk facts

VolatilityStd dev, 3 years: FIDU 16.9%XLI 15.9%, better
Return per unit of riskSharpe ratio, 3 years: FIDU 0.95XLI 1.01, better
Worst fallMax drawdown, 5 years: FIDU −22.9%XLI −21.7%, better
Market sensitivityBeta, 5 years: FIDU 1.04XLI 1.00; Market = 1

FIDU 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
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
Sector Pulse
The S&P 500 slipped 0.07% as utilities closed at a 52-week low
Sep 24, 2026XLI
Sector Pulse
Real estate falls 2.3% as the 10-year yield closes at 5.11%
Sep 23, 2026XLI

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FIDU vs XLI

In short

Stated mandate

Why people hold it