IXG vs XLF: Grades, Fees and Holdings Compared

iShares Global Financials ETF

IXGBNYSE Arca

State Street Financial Select Sector SPDR ETF

XLFANYSE Arca

Overlap

51.5%by weight

Expense ratio

XLF −0.30pt a year

IXG0.38%XLF0.08%

Avg volume · 30D

XLF 611.6×the volume

IXG54KXLF33M

10Y return · a year

XLF +0.9pt

IXG+12.3%XLF+13.2%

IXG vs XLF Performance

Oct 29, 2021 – Oct 30, 2026

+79.2%IXG+52.9%XLF

Expense ratio: IXG 0.38%; XLF 0.08%, better
Fund size: IXG $698M; XLF $53.1B
1Y total return: IXG +15.6%, better; XLF +9.6%
Yield (12M): IXG 2.19%, better; XLF 1.46%
Holdings: IXG 244; XLF 79
Avg volume (30D): IXG 54K sh; XLF 33M sh, better
NAV per share: IXG $129.29; XLF $56.93
52W range

ETF.net Grade

Pillar letters and Scores for IXG, XLF, with each pillar’s weight
Pillar	IXG	XLF
Cost30% weight	C53	A97Higher
Mission25% weight	A85	A85
Risk15% weight	A86Higher	B57
Tradability15% weight	D35	A100Higher
Holdings10% weight	A79Higher	C42
Durability5% weight	B59	A81Higher

Rank among Financials (Broad) funds

How we build Categories ›

Same Category. IXG and XLF are both graded against the same 18 Financials (Broad) funds, so their Grades compare head to head.

Financials (Broad)⁠

Category · 18 funds

See all 18 ›

XLF ranks 1st and IXG 5th of 18 funds in the Financials (Broad) Category.

Rank 1AXLFState Street Financial Select Sector SPDR ETFScore 82
Rank 2AFNCLFidelity MSCI Financials Index ETFScore 76
Rank 4BVFHVanguard Financials ETFScore 69
Rank 5BIXGiShares Global Financials ETFScore 66
Rank 5BIYFiShares U.S. Financials ETFScore 66

Our read on each fund

ETF.net Research

IXGBiShares Global Financials ETF

XLFAState Street Financial Select Sector SPDR ETF

In short

IXG Most financials ETFs stop at the US border. This one, running since 2001, owns the sector worldwide: roughly 220 banks, insurers and exchanges, priced below the typical financials fund.

XLF The 1998 original. XLF holds the S&P 500's financial sector, roughly 80 banks, insurers, card networks and exchanges, for 0.08% a year. Not the whole sector, the blue-chip end of it, and one of the most heavily traded ways to own it.

Stated mandate

IXG The fund seeks to track an index of global equities in the financials sector, providing diversified exposure to financial companies worldwide.

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

Why people hold it

IXG Global by design. It tracks the S&P Global 1200 Financials Capped Index, so overseas banks and insurers sit next to the American giants instead of being left out.ishares.com
0.38% a year, below the 0.44% median for financials funds. Rare to get worldwide reach for less than the category norm.
Roughly 220 holdings under a capped index, which limits how far any one megabank can dominate the basket.
Live since 2001 and among the stronger index-tracking records in its peer group, with more than two decades of history behind the method.

XLF At 0.08% a year, XLF sits at the cheap end of financial sector funds, well under the 0.44% cohort median and a hair below Vanguard's VFH at 0.09%.
Trading since December 1998 and heavily traded ever since, so spreads stay tight whether you buy a hundred shares or a hundred thousand.
Simple plumbing: it owns substantially all the stocks in the Financial Select Sector Index in index proportions, and tracks that benchmark closely.sec.gov
One of the strongest implementations in the broad financials group on cost, tradability and index fidelity combined.

Worth knowing

IXG US-only rivals such as XLF, FNCL and VFH charge closer to 0.08%. The passport costs roughly four times more than staying home.
Trades thinner than the big US-focused financials funds, so spreads can widen and limit orders do real work.
Income lands once or twice a year, not quarterly. Something to know if you like a steadier payout rhythm.

XLF S&P 500 members only, so small and mid-sized regional banks are out. VFH and FNCL cast a wider net across the market-cap range.sec.gov
About 80 names in one sector: banks, insurers, capital markets and mortgage REITs all bend to the same rate and credit cycle, so swings run wider than a total-market fund.sec.gov
Cash comes quarterly, not monthly.

Full IXG profile⁠

Full XLF profile⁠

IXG vs XLF Holdings

How IXG and XLF differ

Overlap by weight

51.5%

Shared holdings make up 99.9% of XLF and 51.5% of IXG.

Level by level

Sector5 Sectors37.4%
Holdings76 in both51.5%
Countryby domicile56.0%
Asset classEquity100%

Sector

Sector weights in IXG and XLF, widest gap first
Sector	More in IXGMore in XLF	IXG	XLF
Financials	XLF +60.8 points	37.4%	98.2%
Banks	IXG +45.0 points	45.0%	0.0%
Insurance	IXG +17.6 points	17.6%	0.0%
Technology	XLF +1.6 points	0.0%	1.6%
Industrials	XLF +0.2 points	0.0%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in IXG and XLF, widest gap first
Country	More in IXGMore in XLF	IXG	XLF
United States	XLF +44.0 points	54.4%	98.4%
Canada	IXG +8.4 points	8.4%	0.0%
Japan	IXG +6.8 points	6.8%	0.0%
United Kingdom	IXG +5.4 points	5.4%	0.0%
Australia	IXG +4.1 points	4.1%	0.0%
Germany	IXG +3.0 points	3.0%	0.0%
Italy	IXG +2.7 points	2.7%	0.0%
Spain	IXG +2.6 points	2.6%	0.0%
Other countries (7)	IXG +11.0 points	12.6%	1.6%

Outside the US: IXG 92% developed, 8% emerging.

Concentration

Weight in the 10 largest Holdings

IXG31.1%
XLF57.4%

Securities held

IXG223
XLF76

Asset class

IXG: Equity
XLF: Equity

Holdings

Only in IXG147
In both76
Only in XLF0

Only in IXG

147 securities, 48.0% of IXG by weight

Hsbc Holdings PLC1.91%
Royal Bank of Canada1.83%
Mitsubishi Ufj Financial Group1.68%
Toronto Dominion1.33%
Commonwealth Bank of Australia1.27%
Allianz1.20%
Banco Santander1.10%
Sumitomo Mitsui Financial Group1.01%
Ubs Group AG0.94%
Banco Bilbao Vizcaya Argentaria0.85%
China Construction Bank Corp H0.83%
Unicredit0.80%
Mizuho Financial Group0.78%
Bank of Montreal0.78%
Dbs Group Holdings Ltd0.76%
Zurich Insurance Group AG0.74%
Bank of Nova Scotia0.74%
Tokio Marine Holdings0.69%
Canadian Imperial Bank of Commerce0.69%
Intesa Sanpaolo0.65%
Aia Group0.65%
Bnp Paribas SA0.62%
National Australia Bank0.59%
Ing Groep0.59%
Westpac Banking Corporation0.57%
Oversea-Chinese Banking0.57%
Anz Group Holdings Ltd0.56%
Brookfield Class A0.55%
Muenchener Rueckversicherungs-Gese0.52%
Industrial and Commercial Bank of0.52%
Investor Class B0.52%
Axa SA0.49%
Barclays PLC0.49%
Manulife Financial0.48%
Lloyds Banking Group PLC0.47%
Deutsche Boerse AG0.43%
Bank of China Ltd H0.42%
Deutsche Bank AG0.42%
Natwest Group PLC0.40%
Macquarie Group Ltd Def0.39%
Nordea Bank0.39%
National Bank of Canada0.38%
Swiss Re AG0.36%
London Stock Exchange Group PLC0.36%
Assicurazioni Generali0.32%
Standard Chartered PLC0.31%
Caixabank SA0.31%
United Overseas Bank0.30%
Ctbc Financial Holding0.30%
Hong Kong Exchanges and Clearing0.30%

Only in XLF

0 securities, 0.0% of XLF by weight

Weight gaps

All 76 Holdings in both funds, largest gap first.

Holding weights in IXG and XLF, widest gap first
Holding	More in IXGMore in XLF	IXG	XLF
Berkshire Hathaway Inc Class BBRK.B	XLF +6.05 points	6.54%	12.59%
JPMorgan Chase & CoJPM	XLF +5.59 points	5.80%	11.39%
Visa Class AV	XLF +4.17 points	4.56%	8.73%
Mastercard Class AMA	XLF +3.07 points	3.34%	6.41%
Bank of AmericaBAC	XLF +2.04 points	2.11%	4.15%
Goldman Sachs GroupGS	XLF +1.68 points	1.69%	3.37%
Wells FargoWFC	XLF +1.57 points	1.63%	3.20%
Morgan StanleyMS	XLF +1.38 points	1.43%	2.81%
CitigroupC	XLF +1.30 points	1.33%	2.63%
BlackRockBLK	XLF +1.04 points	1.07%	2.11%
American ExpressAXP	XLF +1.05 points	1.08%	2.13%
Charles SchwabSCHW	XLF +0.88 points	0.93%	1.81%
S&P GlobalSPGI	XLF +0.83 points	0.91%	1.74%
ProgressivePGR	XLF +0.80 points	0.87%	1.67%
Capital One Financial CorpCOF	XLF +0.79 points	0.81%	1.60%
ChubbCB	XLF +0.76 points	0.83%	1.59%
Cme Group Class ACME	XLF +0.62 points	0.71%	1.33%
Bank of New York Mellon CorpBNY	XLF +0.61 points	0.65%	1.26%
Us BancorpUSB	XLF +0.58 points	0.60%	1.18%
Pnc Financial Services GroupPNC	XLF +0.56 points	0.59%	1.15%
BlackstoneBX	XLF +0.55 points	0.58%	1.13%
MarshMRSH	XLF +0.55 points	0.62%	1.17%
Intercontinental Exchange IncICE	XLF +0.52 points	0.62%	1.14%
Travelers CompaniesTRV	XLF +0.50 points	0.54%	1.04%
Robinhood Markets Class AHOOD	XLF +0.47 points	0.43%	0.90%
Moodys CorpMCO	XLF +0.43 points	0.48%	0.91%
Aon PLC Class AAON	XLF +0.41 points	0.44%	0.85%
Kkr and Co IncKKR	XLF +0.41 points	0.42%	0.83%
Arthur J GallagherAJG	XLF +0.40 points	0.46%	0.86%
Allstate CorpALL	XLF +0.38 points	0.43%	0.81%
Truist FinancialTFC	XLF +0.36 points	0.39%	0.75%
Apollo Global ManagementAPO	XLF +0.35 points	0.35%	0.70%
AflacAFL	XLF +0.33 points	0.36%	0.69%
MetlifeMET	XLF +0.32 points	0.35%	0.67%
Fifth Third BancorpFITB	XLF +0.30 points	0.32%	0.62%
PayPal HoldingsPYPL	XLF +0.30 points	0.31%	0.61%
State StreetSTT	XLF +0.30 points	0.30%	0.60%
Nasdaq IncNDAQ	XLF +0.27 points	0.31%	0.58%
Ameriprise Finance IncAMP	XLF +0.27 points	0.28%	0.55%
MsciMSCI	XLF +0.26 points	0.30%	0.56%
Block Class AXYZ	XLF +0.26 points	0.26%	0.52%
American International GroupAIG	XLF +0.25 points	0.28%	0.53%
Prudential Financial IncPRU	XLF +0.24 points	0.26%	0.50%
Coinbase Global Class ACOIN	XLF +0.24 points	0.21%	0.45%
Interactive Brokers Group Inc ClasIBKR	XLF +0.23 points	0.23%	0.46%
Hartford Insurance GroupHIG	XLF +0.22 points	0.23%	0.45%
Arch Capital GroupACGL	XLF +0.21 points	0.23%	0.44%
M&T BankMTB	XLF +0.19 points	0.21%	0.40%
Huntington Bancshares IncHBAN	XLF +0.19 points	0.21%	0.40%
Northern TrustNTRS	XLF +0.19 points	0.20%	0.39%
Cboe Global MarketsCBOE	XLF +0.18 points	0.23%	0.41%
Willis Towers WatsonWTW	XLF +0.18 points	0.19%	0.37%
Raymond JamesRJF	XLF +0.17 points	0.18%	0.35%
Ares Management Class AARES	XLF +0.17 points	0.19%	0.36%
Cincinnati FinancialCINF	XLF +0.17 points	0.18%	0.35%
Citizens Financial Group IncCFG	XLF +0.17 points	0.17%	0.34%
CorpayCPAY	XLF +0.16 points	0.17%	0.33%
Synchrony FinancialSYF	XLF +0.15 points	0.16%	0.31%
Regions FinancialRF	XLF +0.15 points	0.16%	0.31%
Fiserv IncFISV	XLF +0.15 points	0.17%	0.32%
T Rowe Price GroupTROW	XLF +0.13 points	0.15%	0.28%
Principal Financial Group IncPFG	XLF +0.14 points	0.14%	0.28%
KeycorpKEY	XLF +0.11 points	0.13%	0.24%
Brown & Brown IncBRO	XLF +0.11 points	0.13%	0.24%
Fidelity National Information ServFIS	XLF +0.11 points	0.13%	0.24%
LoewsL	XLF +0.11 points	0.12%	0.23%
Global Payments IncGPN	XLF +0.10 points	0.14%	0.24%
Wr BerkleyWRB	XLF +0.10 points	0.11%	0.21%
Assurant IncAIZ	XLF +0.09 points	0.09%	0.18%
Everest GroupEG	XLF +0.08 points	0.10%	0.18%
Invesco LtdIVZ	XLF +0.08 points	0.08%	0.16%
Globe LifeGL	XLF +0.07 points	0.08%	0.15%
Jack Henry and Associates IncJKHY	XLF +0.07 points	0.07%	0.14%
Factset Research SystemsFDS	XLF +0.06 points	0.08%	0.14%
Franklin TempletonBEN	XLF +0.06 points	0.06%	0.12%
Erie Indemnity Class AERIE	XLF +0.04 points	0.04%	0.08%

All 223 IXG holdings⁠All 76 XLF 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.

IXG vs XLF Cost

Overpaying IXG vs XLF

$6,017

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

IXG 0.38%
$7,706
XLF 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

IXG 0.38%
XLF 0.08%
Overpaying

Year by year

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

Expense ratio

0.38%IXG
0.08%XLF, cheaper

XLF0.08%IXG0.38%

0.08%5.39%

Middle half of Financials (Broad) funds
Median 0.37%

XLF cheapest of 18 funds

IXG 11th cheapest of 18 funds

IXG vs XLF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IXG 2.19%, better; XLF 1.46%
Payout (12M): IXG $2.83; XLF $0.83
Last payment: IXG $1.76; XLF $0.20
Ex-dividend: IXG Jun 15, 2026; XLF Sep 21, 2026
Paid on: IXG Jun 18, 2026; XLF Sep 23, 2026
Frequency: IXG Twice a year; XLF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IXGTwice a year · 20 paymentsAll IXG payments⁠

XLFQuarterly · 39 paymentsAll XLF payments⁠

IXG vs XLF Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IXG 12.8%, betterXLF 15.0%
Return per unit of riskSharpe ratio, 3 years: IXG 1.58, betterXLF 1.13
Worst fallMax drawdown, 5 years: IXG −27.2%XLF −25.8%, better
Market sensitivityBeta, 5 years: IXG 0.81XLF 0.75; Market = 1

IXG and XLF in the news

All news⁠

Top Movers
Natural gas funds lead a flat Tuesday as Micron, J&J and Citigroup fall
Oct 13, 2026XLF
Closing Bell
S&P 500 ends flat as Johnson & Johnson falls 5.7%
Oct 13, 2026XLF
Deep Dive
Bank earnings week will miss most of what a financials fund owns
Oct 12, 2026XLF
Week Ahead
September CPI and bank earnings arrive two weeks before the Fed decides
Oct 11, 2026XLF
Sector Pulse
Caterpillar and Deere fell as industrials dropped 2.2%
Oct 7, 2026XLF
Behind the Index
Apple, Microsoft, Nvidia, Amazon and Alphabet rose, and the S&P 500 fund still fell
Sep 30, 2026XLF

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IXG vs XLF

In short

Stated mandate

Why people hold it