FXR vs XLI: Grades, Fees and Holdings Compared

First Trust Industrials/Producer Durables AlphaDEX Fund

FXRDNYSE Arca

State Street Industrial Select Sector SPDR ETF

XLIANYSE Arca

Overlap

22.4%by weight

Expense ratio

XLI −0.52pt a year

FXR0.60%XLI0.08%

Avg volume · 30D

XLI 266.0×the volume

FXR27.4KXLI7.29M

10Y return · a year

XLI +0.7pt

FXR+12.2%XLI+12.9%

FXR vs XLI Performance

Nov 9, 2021 – Nov 9, 2026

+48.6%FXR+69.9%XLI

Expense ratio: FXR 0.60%; XLI 0.08%, better
Fund size: FXR $707M; XLI $29.5B
1Y total return: FXR +17.0%, better; XLI +11.4%
Yield (12M): FXR 0.74%; XLI 1.12%, better
Holdings: FXR 160; XLI 85
Avg volume (30D): FXR 27.4K sh; XLI 7.29M sh, better
NAV per share: FXR $86.69; XLI $162.69
52W range

ETF.net Grade

Pillar letters and Scores for FXR, XLI, with each pillar’s weight
Pillar	FXR	XLI
Cost30% weight	F11	A90Higher
Mission25% weight	B62	A85Higher
Risk15% weight	C44	B68Higher
Tradability15% weight	D26	A95Higher
Holdings10% weight	A84Higher	C46
Durability5% weight	C42	A81Higher

Rank among Industrials (Broad) funds

How we build Categories ›

Same Category. FXR 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 FXR 9th of 10 funds in the Industrials (Broad) Category.

Rank 1AXLIState Street Industrial Select Sector SPDR ETFScore 80
Rank 2AFIDUFidelity MSCI Industrials Index ETFScore 69
Rank 8CTRUIVanEck Industrials TruSector ETFScore 40
Rank 9DFXRFirst Trust Industrials/Producer Durables AlphaDEX FundScore 32
Rank 10FPRNInvesco Dorsey Wright Industrials Momentum ETFScore 25

Our read on each fund

ETF.net Research

FXRDFirst Trust Industrials/Producer Durables AlphaDEX Fund

XLIAState Street Industrial Select Sector SPDR ETF

In short

FXR Industrials, but not by size. FXR ranks US industrial names on growth and value metrics, drops the weakest, then weights the survivors in tiers. A 2007-vintage smart-beta spin on planes, trains and machinery.

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

FXR The Fund seeks investment results that generally correspond to the price and yield, before fees and expenses, of the StrataQuant® 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

FXR The AlphaDEX screen scores industrials on growth and value metrics, cuts the lowest-ranked names, and weights what's left by rank rather than market cap.ftportfolios.com firsttrust.ca
Roughly 140 holdings, sorted into tiers and equal-weighted inside each tier, so mid-cap machinery and transport names carry real weight instead of a handful of megacaps steering the fund.firsttrust.ca
Running since 2007, one of the original factor-screened sector funds, and it has stayed tight to its StrataQuant Industrials Index. Pays quarterly.

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

FXR The screen costs money: 0.60% a year, against 0.08% for XLI and 0.09% for VIS. That gap is the price of the ranking rules.
Thinly traded next to the sector's household-name ETFs, which can mean wider bid-ask spreads, especially around the open and close.
Tiered weighting tilts the portfolio smaller than the cap-weighted sector, so results and volatility can diverge from the industrials index most people quote.firsttrust.ca

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 FXR profile⁠

Full XLI profile⁠

FXR vs XLI Holdings

How FXR and XLI differ

Overlap by weight

22.4%

Shared holdings make up 68.4% of XLI and 29.0% of FXR.

Level by level

Holdings56 in both22.4%
Sector6 Sectors67.9%
Countryby domicile96.2%
Asset classStocks100%

Sector

Sector weights in FXR and XLI, widest gap first
Sector	Gap	FXR	XLI
Industrials	XLI +32.1 points	60.4%	92.5%
Consumer Discretionary	FXR +9.4 points	9.6%	0.2%
Technology	FXR +8.2 points	15.1%	6.9%
Financials	FXR +7.5 points	7.5%	0.0%
Materials	FXR +6.1 points	6.5%	0.4%
Health Care	FXR +0.9 points	0.9%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FXR and XLI, widest gap first
Country	Gap	FXR	XLI
United States	XLI +3.8 points	96.2%	100.0%
United Kingdom	FXR +1.7 points	1.7%	0.0%
India	FXR +1.3 points	1.3%	0.0%
Ireland	FXR +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

FXR13.0%
XLI37.3%

Securities held

FXR159
XLI83

Asset class

FXR: Stocks
XLI: Stocks

Holdings

Only in FXR103
In both56
Only in XLI27

Only in FXR

103 securities, 70.9% of FXR by weight

ADT Inc.1.64%
Fiserv, Inc.1.41%
TransUnion1.34%
Genpact Limited1.31%
Graphic Packaging Holding Company1.25%
Mohawk Industries, Inc.1.22%
Silgan Holdings Inc.1.20%
Amentum Holdings, Inc.1.19%
Corpay, Inc.1.18%
The Western Union Company1.18%
CRH Plc1.16%
PayPal Holdings, Inc.1.14%
Euronet Worldwide, Inc.1.14%
Accenture plc1.11%
Eagle Materials Inc.1.10%
Amcor plc1.08%
Sunbelt Rentals Holdings, Inc.1.06%
Oshkosh Corporation1.05%
Vontier Corporation1.05%
Midera Food Processing Inc.1.05%
Synchrony Financial1.05%
Sonoco Products Company1.04%
Allison Transmission Holdings, Inc.1.04%
Hayward Holdings, Inc.1.04%
The Middleby Corporation1.03%
ExlService Holdings, Inc.0.98%
Booz Allen Hamilton Holding Corporation0.96%
Paylocity Holding Corporation0.95%
Jack Henry & Associates, Inc.0.95%
Global Payments Inc.0.93%
Ball Corporation0.92%
AptarGroup, Inc.0.92%
PPG Industries, Inc.0.92%
Ryder System, Inc.0.92%
Simpson Manufacturing Co., Inc.0.90%
Fidelity National Information Services, Inc.0.88%
FTI Consulting, Inc.0.85%
WEX Inc.0.85%
Capital One Financial Corporation0.82%
Acuity Inc.0.82%
Smurfit Westrock Plc0.78%
StandardAero, Inc.0.76%
AGCO Corporation0.76%
Keysight Technologies, Inc.0.76%
ESAB Corporation0.74%
SiteOne Landscape Supply, Inc.0.73%
GXO Logistics, Inc.0.73%
Kirby Corporation0.72%
Gates Industrial Corporation Ltd.0.72%
Visa Inc. (Class A)0.69%

Only in XLI

27 securities, 31.5% of XLI by weight

Rtx Corp4.94%
Deere & Co3.26%
Uber Technologies Inc2.71%
Parker Hannifin Corp2.24%
Emerson Electric Co1.75%
Waste Management Inc1.70%
Howmet Aerospace Inc1.59%
Illinois Tool Works1.41%
Transdigm Group Inc1.28%
Fastenal Co1.18%
Ametek Inc1.01%
Delta Air Lines Inc1.00%
Republic Services Inc0.94%
Wabtec Corp0.93%
Carrier Global Corp0.84%
United Airlines Holdings Inc0.71%
Copart Inc0.52%
Verisk Analytics Inc0.52%
Axon Enterprise Inc0.49%
Southwest Airlines Co0.42%
Broadridge Financial Solutio0.42%
Jacobs Solutions Inc0.34%
Leidos Holdings Inc0.32%
Nordson Corp0.32%
C.h. Robinson Worldwide Inc0.28%
Rollins Inc0.22%
Generac Holdings Inc0.20%

Weight gaps

All 56 Holdings in both funds, largest gap first.

Holding weights in FXR and XLI, widest gap first
Holding	Gap	FXR	XLI
GE AerospaceGE	XLI +6.29 points	0.20%	6.49%
Caterpillar Inc.CAT	XLI +4.57 points	0.40%	4.97%
GE Vernova Inc.GEV	XLI +3.67 points	0.32%	3.99%
Union Pacific CorporationUNP	XLI +3.13 points	0.21%	3.34%
The Boeing CompanyBA	XLI +2.47 points	0.18%	2.65%
Eaton Corporation PlcETN	XLI +1.95 points	0.62%	2.57%
Automatic Data Processing, Inc.ADP	XLI +1.87 points	0.46%	2.33%
Lockheed Martin CorporationLMT	XLI +1.79 points	0.44%	2.23%
CSX CorporationCSX	XLI +1.55 points	0.21%	1.76%
Trane Technologies plcTT	XLI +1.54 points	0.17%	1.71%
3M CompanyMMM	XLI +1.41 points	0.44%	1.85%
General Dynamics CorporationGD	XLI +1.32 points	0.42%	1.74%
Vertiv Holdings Co (Class A)VRT	XLI +1.21 points	0.15%	1.36%
Norfolk Southern CorporationNSC	XLI +1.19 points	0.20%	1.39%
Pentair plcPNR	FXR +1.09 points	1.30%	0.21%
Cintas CorporationCTAS	XLI +1.03 points	0.45%	1.48%
Cummins Inc.CMI	XLI +1.03 points	0.17%	1.20%
United Parcel Service, Inc. (Class B)UPS	XLI +0.89 points	0.68%	1.57%
Johnson Controls International PlcJCI	XLI +0.87 points	0.71%	1.58%
Textron Inc.TXT	FXR +0.83 points	1.11%	0.28%
A.O. Smith CorporationAOS	FXR +0.76 points	0.90%	0.14%
Quanta Services, Inc.PWR	XLI +0.72 points	0.85%	1.57%
Stanley Black & Decker, Inc.SWK	FXR +0.68 points	1.02%	0.34%
PACCAR IncPCAR	XLI +0.68 points	0.36%	1.04%
United Rentals, Inc.URI	XLI +0.65 points	0.62%	1.27%
Huntington Ingalls Industries, Inc.HII	FXR +0.63 points	0.85%	0.22%
FedEx Freight Holding Company, Inc.FDXF	FXR +0.59 points	0.88%	0.29%
Honeywell Aerospace Inc.HONA	XLI +0.55 points	0.39%	0.94%
W.W. Grainger, Inc.GWW	XLI +0.53 points	0.68%	1.21%
Northrop Grumman CorporationNOC	XLI +0.51 points	0.85%	1.36%
Paychex, Inc.PAYX	XLI +0.49 points	0.23%	0.72%
Ferguson Enterprises Inc.FERG	XLI +0.46 points	0.41%	0.87%
Snap-on IncorporatedSNA	FXR +0.42 points	0.79%	0.37%
Old Dominion Freight Line, Inc.ODFL	XLI +0.41 points	0.19%	0.60%
Equifax Inc.EFX	FXR +0.38 points	0.81%	0.43%
Lennox International Inc.LII	FXR +0.36 points	0.57%	0.21%
Bloom Energy Corporation (Class A)BE	XLI +0.36 points	0.63%	0.99%
Otis Worldwide CorporationOTIS	XLI +0.34 points	0.24%	0.58%
Ingersoll-Rand Inc.IR	XLI +0.33 points	0.22%	0.55%
Veralto CorporationVLTO	XLI +0.31 points	0.24%	0.55%
Rockwell Automation, Inc.ROK	XLI +0.30 points	0.51%	0.81%
Honeywell International Inc.HON	XLI +0.30 points	1.05%	1.35%
L3Harris Technologies, Inc.LHX	XLI +0.30 points	0.64%	0.94%
Expeditors International of Washington, Inc.EXPD	XLI +0.26 points	0.20%	0.46%
Hubbell IncorporatedHUBB	XLI +0.25 points	0.19%	0.44%
FedEx CorporationFDX	XLI +0.22 points	1.09%	1.31%
Comfort Systems USA, Inc.FIX	XLI +0.21 points	0.48%	0.69%
Allegion Public Limited CompanyALLE	FXR +0.17 points	0.47%	0.30%
Masco CorporationMAS	FXR +0.17 points	0.48%	0.31%
IDEX CorporationIEX	XLI +0.12 points	0.20%	0.32%
Xylem Inc.XYL	FXR +0.13 points	0.57%	0.44%
EMCOR Group, Inc.EME	FXR +0.11 points	0.63%	0.52%
Dover CorporationDOV	FXR +0.11 points	0.64%	0.53%
Fortive CorporationFTV	FXR +0.09 points	0.47%	0.38%
J.B. Hunt Transport Services, Inc.JBHT	FXR +0.07 points	0.38%	0.31%
DuPont de Nemours Inc.DD	FXR +0.06 points	0.44%	0.38%

All 159 FXR 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.

FXR vs XLI Cost

Overpaying FXR vs XLI

$10,128

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

FXR 0.60%
$11,817
XLI 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

FXR 0.60%
XLI 0.08%
Overpaying

Year by year

Year	FXR	XLI	Overpaying
10	$1,076	$147	$929
20	$4,116	$575	$3,541
30	$11,817	$1,689	$10,128

Expense ratio

0.60%FXR
0.08%XLI, cheaper

XLI0.08%FXR0.60%

0.08%0.60%

Middle half of Industrials (Broad) funds
Median 0.33%

XLI cheapest of 10 funds

FXR 9th cheapest of 10 funds

FXR vs XLI Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FXR 0.74%; XLI 1.12%, better
Payout (12M): FXR $0.66; XLI $1.88
Last payment: FXR $0.25; XLI $0.45
Ex-dividend: FXR Sep 24, 2026; XLI Sep 21, 2026
Paid on: FXR Sep 30, 2026; XLI Sep 23, 2026
Frequency: FXR Quarterly; XLI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FXRQuarterly · 37 paymentsAll FXR payments⁠

XLIQuarterly · 39 paymentsAll XLI payments⁠

FXR vs XLI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FXR 18.8%XLI 15.9%, better
Return per unit of riskSharpe ratio, 3 years: FXR 0.74XLI 1.01, better
Worst fallMax drawdown, 5 years: FXR −26.9%XLI −21.7%, better
Market sensitivityBeta, 5 years: FXR 1.08XLI 1.00; Market = 1

FXR and XLI in the news

All news⁠

Closing Bell
Stocks post best day since April as Nvidia falls on CEO probe; SOXX tops SMH
18 hours agoXLI
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

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