IYT vs XTN: Grades, Fees and Holdings Compared

iShares U.S. Transportation ETF

IYTBCboe

State Street SPDR S&P Transportation ETF

XTNBNYSE Arca

Overlap

54.9%by weight

Expense ratio

XTN −0.02pt a year

IYT0.37%XTN0.35%

Avg volume · 30D

IYT 10.1×the volume

IYT719KXTN71.3K

10Y return · a year

IYT +1.1pt

IYT+9.7%XTN+8.6%

IYT vs XTN Performance

Oct 29, 2021 – Oct 30, 2026

+27.8%IYT+13.7%XTN

Expense ratio: IYT 0.37%; XTN 0.35%, better
Fund size: IYT $2.01B; XTN $216M
1Y total return: IYT +13.9%; XTN +17.0%, better
Yield (12M): IYT 0.93%, better; XTN 0.76%
Holdings: IYT 46; XTN 45
Avg volume (30D): IYT 719K sh, better; XTN 71.3K sh
NAV per share: IYT $81.66; XTN $99.31
52W range

ETF.net Grade

Pillar letters and Scores for IYT, XTN, with each pillar’s weight
Pillar	IYT	XTN
Cost30% weight	B56	A79Higher
Mission25% weight	Not scored	B56
Risk15% weight	C53Higher	D27
Tradability15% weight	A80Higher	B60
Holdings10% weight	F13	A86Higher
Durability5% weight	A88Higher	A70

Rank among Transportation funds

How we build Categories ›

Same Category. IYT and XTN are both graded against the same 8 Transportation funds, so their Grades compare head to head.

Transportation⁠

Category · 8 funds

See all 8 ›

XTN ranks 1st and IYT 2nd of 8 funds in the Transportation Category.

Rank 1BXTNState Street SPDR S&P Transportation ETFScore 65
Rank 2BIYTiShares U.S. Transportation ETFScore 56
Rank 3CFTXRFirst Trust Nasdaq Transportation ETFScore 48

Our read on each fund

ETF.net Research

IYTBiShares U.S. Transportation ETF

XTNBState Street SPDR S&P Transportation ETF

In short

IYT The original transports ETF: listed in 2003, tied to the Dow Jones Transportation Average until 2021, now tracking a capped S&P index of roughly 40 railroads, truckers, airlines and freight names.

XTN Transportation, sliced evenly. XTN spreads roughly 40 airlines, truckers, railroads and freight names across a modified equal-weight index, so small caps get a real vote instead of a rounding error.

Stated mandate

IYT The fund seeks to track the investment results of an index made up of U.S. transportation-sector equities. It uses representative sampling and generally invests at least 80% of assets in the index's component securities.

XTN The fund seeks to track, before fees and expenses, the total return performance of the S&P Transportation Select Industry Index.

Why people hold it

IYT Costs 0.37% a year with no waiver involved, below the median for its eight-fund transportation category and a hair above XTN's 0.35%.
Trading since October 2003 and still one of the more actively traded funds in its category, a billion-dollar-plus fund in a corner of the market full of small ones.
The index is float-cap weighted with a cap limiting how large any one stock can get, so a single giant railroad cannot swallow the fund. Large, mid and small caps all qualify.ishares.com spglobal.com
One ticker for the whole freight complex: railroads, truckers, air freight and delivery, plus passenger airlines and ground transport.ishares.com

XTN Cheapest fare in the transportation aisle: 0.35% a year, against a 0.60% median for the peer group and 0.38% for the larger rival IYT.
Modified equal weighting spreads the pot across air freight, airlines, airport services, highways and rail, marine, ports, railroads and trucking, not just two megacaps.ssga.com
State Street has run it since 2011, and it sits in the upper half of its transportation peer group. Pays out quarterly.

Worth knowing

IYT About 40 stocks in one cyclical sector. Moves with freight volumes, fuel and shipping rates, so it can wander far from the broad market for long stretches.
The benchmark switched in July 2021 from the Dow Jones Transportation Average to the current S&P index, so older performance history reflects a different lineup.ishares.com
Pays quarterly, but this is a sector equity fund: payouts follow whatever the holdings declare, not a set rate.

XTN Equal weighting tilts toward smaller, more cyclical carriers, so the ride is bumpier than a cap-weighted transport fund's.ssga.com
About 40 stocks in one slice of industrials. Fuel costs, freight rates and the economic cycle drive it, with no cushion from other sectors.
Moderately traded rather than heavily, so spreads can widen in fast markets.

Full IYT profile⁠

Full XTN profile⁠

IYT vs XTN Holdings

How IYT and XTN differ

Overlap by weight

54.9%

Shared holdings make up 99.3% of IYT and 98.4% of XTN.

Level by level

Sector8 Sectors0.0%
Holdings43 in both54.9%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in IYT and XTN, widest gap first
Sector	More in IYTMore in XTN	IYT	XTN
Industrials	XTN +94.3 points	0.0%	94.3%
Rail Transportation	IYT +33.1 points	33.1%	0.0%
Cargo Ground Transportation	IYT +18.9 points	18.9%	0.0%
Air Freight & Logistics	IYT +16.1 points	16.1%	0.0%
Passenger Ground Transportation	IYT +15.0 points	15.0%	0.0%
Passenger Airlines	IYT +14.9 points	14.9%	0.0%
Technology	XTN +5.7 points	0.0%	5.7%
Marine Transportation	IYT +2.0 points	2.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IYT and XTN, widest gap first
Country	More in IYTMore in XTN	IYT	XTN
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

IYT73.5%
XTN32.1%

Securities held

IYT44
XTN44

Asset class

IYT: Equity
XTN: Equity

Holdings

Only in IYT1
In both43
Only in XTN1

Only in IYT

1 security, 0.7% of IYT by weight

U Haul Non Voting Series N0.69%

Only in XTN

1 security, 1.5% of XTN by weight

U Haul Holding Co Non Voting1.48%

Weight gaps

All 43 Holdings in both funds, largest gap first.

Holding weights in IYT and XTN, widest gap first
Holding	More in IYTMore in XTN	IYT	XTN
Union PacificUNP	IYT +15.69 points	18.74%	3.05%
Uber TechnologiesUBER	IYT +11.17 points	13.83%	2.66%
CsxCSX	IYT +6.89 points	9.99%	3.10%
Rxo IncRXO	XTN +3.34 points	0.62%	3.96%
SkywestSKYW	XTN +2.36 points	0.44%	2.80%
Lyft Class ALYFT	XTN +2.33 points	0.83%	3.16%
Gxo LogisticsGXO	XTN +2.31 points	0.79%	3.10%
ArcbestARCB	XTN +2.29 points	0.38%	2.67%
Avis Budget Group IncCAR	XTN +2.09 points	0.25%	2.34%
Alaska Air Group IncALK	XTN +2.03 points	0.54%	2.57%
Kirby CorpKEX	XTN +1.98 points	1.04%	3.02%
Matson IncMATX	XTN +1.96 points	0.91%	2.87%
Joby Aviation Class AJOBY	XTN +1.85 points	0.42%	2.27%
Allegiant TravelALGT	XTN +1.84 points	0.24%	2.08%
Ryder SystemR	XTN +1.81 points	1.48%	3.29%
United Parcel Service Inc Class BUPS	IYT +1.80 points	4.90%	3.10%
Norfolk Southern CorpNSC	IYT +1.72 points	4.76%	3.04%
Werner EnterprisesWERN	XTN +1.71 points	0.23%	1.94%
Hub Group Class AHUBG	XTN +1.71 points	0.22%	1.93%
American Airlines GroupAAL	XTN +1.69 points	1.14%	2.83%
Fedex CorpFDX	IYT +1.69 points	4.55%	2.86%
Landstar SystemLSTR	XTN +1.68 points	0.66%	2.34%
Saia IncSAIA	XTN +1.60 points	1.25%	2.85%
Delta Air LinesDAL	IYT +1.59 points	4.57%	2.98%
United Airlines HoldingsUAL	IYT +1.55 points	4.37%	2.82%
Schneider National Class BSNDR	XTN +1.54 points	0.20%	1.74%
Old Dominion Freight LineODFL	IYT +1.54 points	4.26%	2.72%
Knight-Swift Transportation HoldinKNX	XTN +1.20 points	1.35%	2.55%
Jetblue AirwaysJBLU	XTN +1.06 points	0.12%	1.18%
Frontier Group HoldingsULCC	XTN +0.58 points	0.07%	0.65%
Marten TransportMRTN	XTN +0.57 points	0.09%	0.66%
Forward AirFWRD	XTN +0.52 points	0.06%	0.58%
Expeditors International of WashinEXPD	IYT +0.50 points	3.52%	3.02%
Heartland Express IncHTLD	XTN +0.50 points	0.06%	0.56%
Fedex Freight Holding Company IncFDXF	XTN +0.47 points	2.05%	2.52%
Genco Shipping and TradingGNK	XTN +0.46 points	0.11%	0.57%
Ch Robinson WorldwideCHRW	XTN +0.45 points	1.98%	2.43%
Southwest AirlinesLUV	XTN +0.41 points	2.83%	3.24%
Covenant Logistics Group Inc ClassCVLG	XTN +0.40 points	0.06%	0.46%
Hertz Global Hldgs IncHTZ	XTN +0.38 points	0.04%	0.42%
Ftai InfrastructureFIP	XTN +0.23 points	0.04%	0.27%
XpoXPO	IYT +0.17 points	3.02%	2.85%
Jb Hunt Transport ServicesJBHT	XTN +0.15 points	2.23%	2.38%

All 44 IYT holdings⁠All 44 XTN 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.

IYT vs XTN Cost

Overpaying IYT vs XTN

$387

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

IYT 0.37%
$7,513
XTN 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

IYT 0.37%
XTN 0.35%
Overpaying

Year by year

Year	IYT	XTN	Overpaying
10	$670	$634	$36
20	$2,590	$2,454	$136
30	$7,513	$7,126	$387

Expense ratio

0.37%IYT
0.35%XTN, cheaper

XTN0.35%IYT0.37%

0.35%0.69%

Middle half of Transportation funds
Median 0.48%

XTN cheapest of 8 funds

IYT 4th cheapest of 8 funds

IYT vs XTN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IYT 0.93%, better; XTN 0.76%
Payout (12M): IYT $0.76; XTN $0.75
Last payment: IYT $0.19; XTN $0.19
Ex-dividend: IYT Sep 15, 2026; XTN Sep 21, 2026
Paid on: IYT Sep 18, 2026; XTN Sep 23, 2026
Frequency: IYT Quarterly; XTN Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IYTQuarterly · 39 paymentsAll IYT payments⁠

XTNQuarterly · 39 paymentsAll XTN payments⁠

IYT vs XTN Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IYT 18.4%, betterXTN 23.5%
Return per unit of riskSharpe ratio, 3 years: IYT 0.64, betterXTN 0.50
Worst fallMax drawdown, 5 years: IYT −29.1%, betterXTN −35.0%
Market sensitivityBeta, 5 years: IYT 1.23XTN 1.59; Market = 1

IYT and XTN in the news

All news⁠

Top Movers
Tanker ETF gains 8.4% as crude falls
Sep 16, 2026IYT

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Category

IYT vs XTN

In short

Stated mandate

Why people hold it

Worth knowing

How IYT and XTN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IYT

Only in XTN

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Tanker ETF gains 8.4% as crude falls

How IYT and XTN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IYT

Only in XTN

Weight gaps