IYE vs VDE: Grades, Fees and Holdings Compared

iShares U.S. Energy ETF

IYEBNYSE Arca

Vanguard Energy ETF

VDEANYSE Arca

Overlap

90.4%by weight

Expense ratio

VDE −0.28pt a year

IYE0.37%VDE0.09%

Avg volume · 30D

IYE 1.6×the volume

IYE865KVDE543K

10Y return · a year

VDE +0.6pt

IYE+10.8%VDE+11.4%

IYE vs VDE Performance

Oct 29, 2021 – Oct 30, 2026

+171.7%IYE+184.7%VDE

Expense ratio: IYE 0.37%; VDE 0.09%, better
Fund size: IYE $1.85B; VDE $12.7B
1Y total return: IYE +61.3%, better; VDE +61.2%
Yield (12M): IYE 1.83%; VDE 2.09%, better
Holdings: IYE 42; VDE 114
Avg volume (30D): IYE 865K sh, better; VDE 543K sh
NAV per share: IYE $73.77; VDE $195.50
52W range

ETF.net Grade

Pillar letters and Scores for IYE, VDE, with each pillar’s weight
Pillar	IYE	VDE
Cost30% weight	B65	A92Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C54Higher	C43
Tradability15% weight	A86Higher	B61
Holdings10% weight	F24	C49Higher
Durability5% weight	A81	A91Higher

Rank among Energy (Broad) funds

How we build Categories ›

Same Category. IYE and VDE are both graded against the same 24 Energy (Broad) funds, so their Grades compare head to head.

Energy (Broad)⁠

Category · 24 funds

See all 24 ›

VDE ranks 3rd and IYE 5th of 24 funds in the Energy (Broad) Category.

Rank 1AXLEState Street Energy Select Sector SPDR ETFScore 80
Rank 2AFENYFidelity MSCI Energy Index ETFScore 77
Rank 3AVDEVanguard Energy ETFScore 69
Rank 4BENFRAlerian Energy Infrastructure ETFScore 65
Rank 5BIYEiShares U.S. Energy ETFScore 62
Rank 5BRSPGInvesco S&P 500 Equal Weight Energy ETFScore 62

Our read on each fund

ETF.net Research

IYEBiShares U.S. Energy ETF

VDEAVanguard Energy ETF

In short

IYE One of the first US sector ETFs, live since 2000. It tracks the energy corner of the Russell 1000, so mid-size drillers and refiners ride along with the oil majors, and index caps stop any one name from running the show.

VDE Energy without the mega-cap tunnel vision. VDE tracks an index of roughly 110 US energy stocks, large down to small cap, for 0.09% a year, and it has been running since 2004.

Stated mandate

IYE The fund aims to follow an index made up of U.S. companies from the energy sector.

VDE The fund seeks to track the MSCI US Investable Market Energy 25/50 Index, which represents large-, mid-, and small-cap U.S. energy-sector stocks.

Why people hold it

IYE Live since June 2000, one of the first wave of US sector ETFs. A billion-dollar fund, actively traded, paying quarterly.
Index rules cap any single company at 22.5% and hold all 4.5%-plus names to 45% combined, so the majors cannot swallow the portfolio.ftserussell.com ishares.com
Built off the Russell 1000, so the roster reaches past the mega-cap majors into mid-size producers, refiners and pipeline owners.ishares.com
Costs 0.37% a year, with no fee waiver propping that up, and that sits below the median fee in broad energy.

VDE Costs 0.09% a year, a fraction of what the typical energy sector fund charges.
Casts a wider net than mega-cap-only energy funds: about 110 large-, mid- and small-cap US names, from the integrated majors to shale drillers and refiners.vanguard.com
Hugs its benchmark closely and trades actively, which tends to keep spreads slim for everyday buys and sells.
Live since 2004 and one of the strongest builds in the broad energy group, with a Vanguard fee structure that has only ratcheted downward.

Worth knowing

IYE 0.37% is several times what the big index rivals ask: XLE at 0.08%, FENY at 0.084%, VDE at 0.09%.
About 40 holdings in oil and gas production and distribution, so a few giants drive the ride even with the index caps in place.ishares.com
A single-sector fund that moves with oil and gas, which can mean sharper swings than a whole-market fund.ishares.com

VDE One sector, one storyline: this rides crude and natural gas prices, and it swings harder in both directions than a total-market fund.
Cap-weighted, so a handful of US oil majors carry outsized weight despite the long holdings list; the index's 25/50 rules limit that concentration rather than erase it.vanguard.com
Income arrives quarterly, not monthly, and moves with what energy companies choose to pay out.

Full IYE profile⁠

Full VDE profile⁠

IYE vs VDE Holdings

How IYE and VDE differ

Overlap by weight

90.4%

Shared holdings make up 98.6% of IYE and 90.8% of VDE.

Level by level

Sector13 Sectors0.0%
Holdings35 in both90.4%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in IYE and VDE, widest gap first
Sector	More in IYEMore in VDE	IYE	VDE
Energy	VDE +99.5 points	0.0%	99.5%
Integrated Oil & Gas	IYE +41.6 points	41.6%	0.0%
Oil & Gas Exploration & Production	IYE +21.2 points	21.2%	0.0%
Oil & Gas Storage & Transportation	IYE +14.2 points	14.2%	0.0%
Oil & Gas Refining & Marketing & Transportation	IYE +13.4 points	13.4%	0.0%
Oil & Gas Equipment & Services	IYE +8.2 points	8.2%	0.0%
Semiconductors	IYE +0.7 points	0.7%	0.0%
Electrical Components & Equipment	IYE +0.5 points	0.5%	0.0%
Materials	VDE +0.4 points	0.0%	0.4%
Semiconductor Equipment	IYE +0.2 points	0.2%	0.0%
Industrials	VDE +0.1 points	0.0%	0.1%
Construction & Engineering	Same weight	0.0%	0.0%
Heavy Electrical Equipment	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IYE and VDE, widest gap first
Country	More in IYEMore in VDE	IYE	VDE
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

IYE72.1%
VDE67.2%

Securities held

IYE40
VDE112

Asset class

IYE: Equity
VDE: Equity

Holdings

Only in IYE5
In both35
Only in VDE77

Only in IYE

5 securities, 1.3% of IYE by weight

First Solar0.69%
Nextpower Inc0.46%
Enphase Energy0.13%
Solv Energy Class A Inc0.03%
X-Energy Inc Class A0.02%

Only in VDE

77 securities, 8.8% of VDE by weight

SM Energy Co0.33%
PBF Energy Inc0.32%
Magnolia Oil & Gas Corp0.24%
Kodiak Gas Services Inc0.23%
Plains GP Holdings LP0.23%
International Seaways Inc0.23%
Murphy Oil Corp0.23%
Transocean Ltd0.22%
Archrock Inc0.22%
Delek US Holdings Inc0.22%
Valaris Ltd0.21%
Oceaneering International Inc0.21%
Par Pacific Holdings Inc0.21%
Hess Midstream LP0.21%
Core Natural Resources Inc0.20%
Cactus Inc. Class A0.20%
Calumet Inc0.19%
Uranium Energy Corp0.19%
CNX Resources Corp0.19%
Patterson-UTI Energy Inc0.19%
Tidewater Inc0.18%
Helmerich & Payne Inc0.17%
Noble Corp PLC0.17%
Crescent Energy Co0.17%
California Resources Corp0.16%
Solaris Energy Infrastructure Inc0.16%
Peabody Energy Corp0.14%
Dorian LPG Ltd0.14%
Select Water Solutions Inc0.13%
Seadrill Ltd0.13%
Liberty Energy Inc0.13%
CVR Energy Inc0.13%
Kinetik Holdings Inc0.13%
Talos Energy Inc0.12%
Centrus Energy Corp0.11%
World Kinect Corp0.11%
Gulfport Energy Corp0.11%
Northern Oil & Gas Inc0.11%
SLBBH11420.11%
Kosmos Energy Ltd0.10%
Expro Ltd0.09%
REX American Resources Corp0.09%
Kimbell Royalty Partners LP0.08%
Green Plains Inc0.07%
Innovex International Inc0.07%
Hornbeck Offshore Services Inc0.07%
NextDecade Corp0.07%
Nabors Industries Ltd0.07%
Riley Exploration Permian Inc0.06%
Comstock Resources Inc0.06%

Weight gaps

All 35 Holdings in both funds, largest gap first.

Holding weights in IYE and VDE, widest gap first
Holding	More in IYEMore in VDE	IYE	VDE
ChevronCVX	IYE +1.91 points	16.35%	14.44%
ConocophillipsCOP	IYE +0.97 points	6.85%	5.88%
Exxonmobil Holdings CorpXOM	IYE +0.92 points	23.84%	22.92%
Cheniere EnergyLNG	IYE +0.52 points	2.67%	2.15%
Eog ResourcesEOG	IYE +0.44 points	3.29%	2.85%
Diamondback EnergyFANG	IYE +0.36 points	1.69%	1.33%
Valero Energy CorpVLO	VDE +0.36 points	4.10%	4.46%
Targa ResourcesTRGP	IYE +0.35 points	2.56%	2.21%
Kinder MorganKMI	IYE +0.30 points	2.53%	2.23%
OneokOKE	IYE +0.29 points	2.35%	2.06%
Devon EnergyDVN	IYE +0.28 points	2.28%	2.00%
Occidental Petroleum CorpOXY	IYE +0.22 points	1.80%	1.58%
Permian Resources Class APR	IYE +0.20 points	0.80%	0.60%
Marathon PetroleumMPC	IYE +0.19 points	4.66%	4.47%
WilliamsWMB	IYE +0.14 points	3.30%	3.16%
EqtEQT	IYE +0.14 points	1.30%	1.16%
Phillips 66PSX	IYE +0.14 points	4.08%	3.94%
Range ResourcesRRC	IYE +0.13 points	0.49%	0.36%
ApaAPA	IYE +0.12 points	0.72%	0.60%
SlbSLB	IYE +0.12 points	2.95%	2.83%
OvintivOVV	IYE +0.11 points	0.77%	0.66%
Texas Pacific LandTPL	IYE +0.12 points	0.76%	0.64%
HalliburtonHAL	IYE +0.12 points	1.17%	1.05%
Antero ResourcesAR	IYE +0.08 points	0.48%	0.40%
Technipfmc PLCFTI	VDE +0.04 points	1.04%	1.08%
Viper Energy Inc Class AVNOM	IYE +0.02 points	0.34%	0.32%
Antero MidstreamAM	VDE +0.03 points	0.27%	0.30%
NovNOV	VDE +0.02 points	0.27%	0.29%
Baker Hughes Class ABKR	IYE +0.02 points	2.09%	2.07%
Weatherford International PLCWFRD	IYE +0.02 points	0.25%	0.23%
Chord EnergyCHRD	IYE +0.01 points	0.34%	0.33%
Expand EnergyEXE	VDE +0.01 points	0.77%	0.78%
Matador ResourcesMTDR	IYE +0.01 points	0.27%	0.26%
Hf SinclairDINO	VDE +0.01 points	0.68%	0.69%
Dt MidstreamDTM	Same weight	0.49%	0.49%

All 40 IYE holdings⁠All 112 VDE 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.

IYE vs VDE Cost

Overpaying IYE vs VDE

$5,615

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

IYE 0.37%
$7,513
VDE 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

IYE 0.37%
VDE 0.09%
Overpaying

Year by year

Year	IYE	VDE	Overpaying
10	$670	$165	$505
20	$2,590	$646	$1,944
30	$7,513	$1,898	$5,615

Expense ratio

0.37%IYE
0.09%VDE, cheaper

VDE0.09%IYE0.37%

0.08%0.95%

Middle half of Energy (Broad) funds
Median 0.46%

VDE 3rd cheapest of 24 funds

IYE 8th cheapest of 24 funds

IYE vs VDE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IYE 1.83%; VDE 2.09%, better
Payout (12M): IYE $1.35; VDE $4.08
Last payment: IYE $0.39; VDE $1.05
Ex-dividend: IYE Sep 15, 2026; VDE Sep 23, 2026
Paid on: IYE Sep 18, 2026; VDE Sep 25, 2026
Frequency: IYE Quarterly; VDE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IYEQuarterly · 39 paymentsAll IYE payments⁠

VDEQuarterly · 39 paymentsAll VDE payments⁠

IYE vs VDE Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IYE 20.9%, betterVDE 21.2%
Return per unit of riskSharpe ratio, 3 years: IYE 0.82, betterVDE 0.81
Worst fallMax drawdown, 5 years: IYE −25.6%, betterVDE −26.6%
Market sensitivityBeta, 5 years: IYE 0.48VDE −0.01; Market = 1

IYE and VDE in the news

All news⁠

Deep Dive
Energy ETFs returned 43% this year. Two refiners pulled even with the majors
Sep 23, 2026IYEVDE
Category Review
The large US oil-company fund returned 45% this year. A pipeline-and-power fund returned 13%.
Updated Oct 6, 2026VDE
Price vs Value
Vanguard showed a 1.94% discount on an energy fund that closed two cents above its value
Oct 4, 2026VDE

Popular comparisons

IYEBvsXLEA
iShares U.S. Energy ETF · State Street Energy Select Sector SPDR ETF
Expense ratio
0.37% · 0.08%
Category
VDEAvsXLEA
Vanguard Energy ETF · State Street Energy Select Sector SPDR ETF
Expense ratio
0.09% · 0.08%
Category
IYEBvsFENYA
iShares U.S. Energy ETF · Fidelity MSCI Energy Index ETF
Expense ratio
0.37% · 0.08%
Category
VDEAvsFENYA
Vanguard Energy ETF · Fidelity MSCI Energy Index ETF
Expense ratio
0.09% · 0.08%
Category
IYEBvsENFRB
iShares U.S. Energy ETF · Alerian Energy Infrastructure ETF
Expense ratio
0.37% · 0.35%
Category
VDEAvsENFRB
Vanguard Energy ETF · Alerian Energy Infrastructure ETF
Expense ratio
0.09% · 0.35%
Category