VGT vs XSW: Grades, Fees and Holdings Compared

Vanguard Information Technology ETF

VGTANYSE Arca

State Street SPDR S&P Software & Services ETF

XSWBNYSE Arca

Overlap

14.0%by weight

Expense ratio

VGT −0.26pt a year

VGT0.09%XSW0.35%

Avg volume · 30D

VGT 77.4×the volume

VGT4.23MXSW54.7K

10Y return · a year

VGT +9.0pt

VGT+23.9%XSW+14.9%

VGT vs XSW Performance

Oct 29, 2021 – Oct 30, 2026

+122.6%VGT+16.2%XSW

Expense ratio: VGT 0.09%, better; XSW 0.35%
Fund size: VGT $178B; XSW $536M
1Y total return: VGT +18.5%, better; XSW +5.6%
Yield (12M): VGT 0.40%, better; XSW 0.00%
Holdings: VGT 321; XSW 131
Avg volume (30D): VGT 4.23M sh, better; XSW 54.7K sh
NAV per share: VGT $116.95; XSW $212.78
52W range

ETF.net Grade

Pillar letters and Scores for VGT, XSW, with each pillar’s weight
Pillar	VGT	XSW
Cost30% weight	A92Higher	A77
Mission25% weight	A84Higher	B60
Risk15% weight	B60Higher	F21
Tradability15% weight	B57Higher	C45
Holdings10% weight	C41	A91Higher
Durability5% weight	A93Higher	B66

Rank among Technology (Broad) funds

How we build Categories ›

Same Category. VGT and XSW are both graded against the same 23 Technology (Broad) funds, so their Grades compare head to head.

Technology (Broad)⁠

Category · 23 funds

See all 23 ›

VGT ranks 3rd and XSW 9th of 23 funds in the Technology (Broad) Category.

Rank 1AXLKState Street Technology Select Sector SPDR ETFScore 82
Rank 2AFTECFidelity MSCI Information Technology Index ETFScore 78
Rank 3AVGTVanguard Information Technology ETFScore 71
Rank 4BRSPTInvesco S&P 500 Equal Weight Technology ETFScore 68
Rank 8BPSCTInvesco S&P SmallCap Information Technology ETFScore 61
Rank 9BXSWState Street SPDR S&P Software & Services ETFScore 60
Rank 10BTDIVFirst Trust NASDAQ Technology Dividend Index FundScore 59

Our read on each fund

ETF.net Research

VGTAVanguard Information Technology ETF

XSWBState Street SPDR S&P Software & Services ETF

In short

VGT Vanguard's technology sleeve, indexed since 2004: roughly 300 US tech stocks running from megacap giants down to small caps, for 0.09% a year. Broad coverage of the sector rather than just its household names.

XSW Most tech funds are really a bet on a handful of megacaps. XSW carves out software and services and weights roughly 130 names close to equally, so a small SaaS shop sits near the giants. Running that way since 2011.

Stated mandate

VGT The fund seeks to track an index measuring the investment return of information technology stocks. It uses an indexing approach for large-, mid-, and small-capitalization U.S. technology companies and normally invests at least 80% of assets in target-index stocks.

XSW The fund seeks to track the total return of the S&P Software & Services Select Industry Index before fees and expenses. Its mandate covers software and services companies across application software, interactive home entertainment, IT consulting and other services, and systems software.

Why people hold it

VGT Casts a wide net: about 300 US technology stocks across large, mid and small caps, not just the megacap names everyone already knows.vanguard.com
Charges 0.09% a year, roughly a quarter of what the typical technology sector ETF asks.
One of the largest and most actively traded sector funds around, and it has followed its index closely.
Running since 2004 and among the strongest implementations in its technology peer group. Pays quarterly.

XSW Modified equal weighting resets constituents toward the same size each quarter, so results lean on software broadly rather than on three or four dominant names.ssga.com spglobal.com
A 0.35% expense ratio, below the median for its broad tech peer group, for a strategy that reweights four times a year rather than just riding market cap.spglobal.com
Roughly 130 holdings across application software, interactive home entertainment, IT consulting and systems software. One stumble is a small slice, not the whole fund.ssga.com
Live since 2011, one of the longest-running equal-weight takes on US software, and it has tracked its index closely across that history.ssga.com

Worth knowing

VGT Weighted by market value, so the biggest platform companies drive most of the return. The small caps are along for the ride.
One sector, one country: US technology only, which means bigger swings than a total market fund.
If the last basis point matters, XLK and FTEC list at 0.08%.

XSW Equal weighting pulls in small and mid-cap software, the jumpiest corner of tech. The ride here tends to be bumpier than a megacap-led sector fund.ssga.com
Cap-weighted rivals cost far less: XLK and FTEC at 0.08%, VGT at 0.09%. The extra fee buys the equal-weight method, not wider coverage.
Software companies rarely pay dividends and the fund has not made distributions lately, so price change does essentially all the work. It also trades in moderate volume.

Full VGT profile⁠

Full XSW profile⁠

VGT vs XSW Holdings

How VGT and XSW differ

Overlap by weight

14.0%

Shared holdings make up 96.1% of XSW and 26.0% of VGT.

Level by level

Holdings124 in both14.0%
Sector7 Sectors91.3%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in VGT and XSW, widest gap first
Sector	More in VGTMore in XSW	VGT	XSW
Technology	VGT +8.7 points	99.3%	90.6%
Financials	XSW +5.5 points	0.3%	5.8%
Communication	XSW +1.5 points	0.0%	1.5%
Health Care	XSW +0.8 points	0.0%	0.8%
Consumer Discretionary	XSW +0.6 points	0.1%	0.7%
Industrials	XSW +0.4 points	0.3%	0.7%
Materials	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in VGT and XSW, widest gap first
Country	More in VGTMore in XSW	VGT	XSW
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

VGT63.6%
XSW11.0%

Securities held

VGT319
XSW130

Asset class

VGT: Equity
XSW: Equity

Holdings

Only in VGT195
In both124
Only in XSW6

Only in VGT

195 securities, 73.9% of VGT by weight

NVIDIA Corp17.59%
Apple Inc15.92%
Micron Technology Inc4.46%
Broadcom Inc4.11%
Advanced Micro Devices Inc3.68%
Intel Corp1.99%
Cisco Systems Inc1.60%
Lam Research Corp1.56%
Applied Materials Inc1.53%
KLA Corp0.98%
Texas Instruments Inc0.98%
Sandisk Corp0.97%
Marvell Technology Inc0.88%
Arista Networks Inc0.85%
Amphenol Corp0.80%
Seagate Technology Holdings PLC0.79%
QUALCOMM Inc0.76%
Analog Devices Inc0.75%
Dell Technologies Inc0.65%
Western Digital Corp0.61%
Corning Inc0.49%
Snowflake Inc0.45%
Cloudflare Inc0.45%
Hewlett Packard Enterprise Co0.36%
Motorola Solutions Inc0.31%
Lumentum Holdings Inc0.30%
Keysight Technologies Inc0.27%
Teradyne Inc0.27%
Monolithic Power Systems Inc0.27%
TE Connectivity PLC0.27%
NXP Semiconductors NV0.26%
Astera Labs Inc0.23%
Ciena Corp0.21%
Twilio Inc0.21%
Coherent Corp0.21%
Everpure Inc0.20%
NetApp Inc0.19%
Microchip Technology Inc0.19%
Okta Inc0.19%
Flex Ltd0.19%
SLBBH11420.18%
Credo Technology Group Holding Ltd0.15%
HP Inc0.15%
Jabil Inc0.15%
ON Semiconductor Corp0.14%
Teledyne Technologies Inc0.14%
Qnity Electronics Inc0.13%
MongoDB Inc0.13%
Super Micro Computer Inc0.13%
Entegris Inc0.13%

Only in XSW

6 securities, 3.8% of XSW by weight

Sailpoint Inc0.88%
Roblox Corp Class A0.83%
Take Two Interactive Softwre0.64%
Ooma Inc0.62%
Keel Infrastructure Corp0.44%
Bit Digital Inc0.39%

Weight gaps

The 100 widest of 124 Holdings in both funds.

Holding weights in VGT and XSW, widest gap first
Holding	More in VGTMore in XSW	VGT	XSW
Microsoft CorpMSFT	VGT +10.40 points	11.16%	0.76%
Braze IncBRZE	XSW +1.33 points	0.03%	1.36%
Netskope IncNTSK	XSW +1.26 points	0.01%	1.27%
Rapid7 IncRPD	XSW +1.13 points	0.01%	1.14%
Tenable Holdings IncTENB	XSW +1.02 points	0.06%	1.08%
Appian CorpAPPN	XSW +1.02 points	0.02%	1.04%
ServiceTitan IncTTAN	XSW +0.99 points	<0.01%	0.99%
Via Transportation IncVIA	XSW +0.97 points	<0.01%	0.97%
PTC IncPTC	XSW +0.96 points	0.10%	1.06%
Amplitude IncAMPL	XSW +0.95 points	0.02%	0.97%
DXC Technology CoDXC	XSW +0.95 points	0.03%	0.98%
Asana IncASAN	XSW +0.95 points	0.01%	0.96%
Rubrik IncRBRK	XSW +0.95 points	0.11%	1.06%
Zscaler IncZS	XSW +0.94 points	0.11%	1.05%
AvePoint IncAVPT	XSW +0.92 points	0.02%	0.94%
Sprinklr IncCXM	XSW +0.89 points	<0.01%	0.90%
Qualys IncQLYS	XSW +0.89 points	0.06%	0.95%
PagerDuty IncPD	XSW +0.88 points	0.02%	0.90%
OneSpan IncOSPN	XSW +0.87 points	<0.01%	0.88%
Klaviyo IncKVYO	XSW +0.86 points	0.02%	0.88%
SentinelOne IncS	XSW +0.86 points	0.07%	0.93%
Commvault Systems IncCVLT	XSW +0.85 points	0.07%	0.92%
Freshworks IncFRSH	XSW +0.85 points	0.03%	0.88%
Gartner IncIT	XSW +0.85 points	0.08%	0.93%
Grid Dynamics Holdings IncGDYN	XSW +0.84 points	<0.01%	0.85%
Sprout Social IncSPT	XSW +0.84 points	<0.01%	0.85%
Teradata CorpTDC	XSW +0.84 points	0.03%	0.87%
Five9 IncFIVN	XSW +0.84 points	0.03%	0.87%
Vertex IncVERX	XSW +0.83 points	0.01%	0.84%
Everforth IncEFOR	XSW +0.83 points	0.02%	0.85%
Box IncBOX	XSW +0.82 points	0.06%	0.88%
Blackbaud IncBLKB	XSW +0.82 points	0.02%	0.84%
Bentley Systems IncBSY	XSW +0.82 points	0.05%	0.87%
Alarm.com Holdings IncALRM	XSW +0.81 points	0.04%	0.85%
C3.ai IncAI	XSW +0.80 points	0.02%	0.82%
Docusign IncDOCU	XSW +0.80 points	0.09%	0.89%
Yext IncYEXT	XSW +0.79 points	<0.01%	0.80%
Gitlab IncGTLB	XSW +0.79 points	0.07%	0.86%
BlackLine IncBL	XSW +0.78 points	0.02%	0.80%
RingCentral IncRNG	XSW +0.78 points	0.06%	0.84%
Elastic NVESTC	XSW +0.77 points	0.07%	0.84%
EPAM Systems IncEPAM	XSW +0.77 points	0.06%	0.82%
Workiva Inc. Class AWK	XSW +0.75 points	0.05%	0.80%
Progress Software CorpPRGS	XSW +0.75 points	0.02%	0.77%
CCC Intelligent Solutions Holdings IncCCC	XSW +0.74 points	0.05%	0.79%
Red Violet IncRDVT	XSW +0.75 points	0.01%	0.76%
Dynatrace IncDT	XSW +0.75 points	0.10%	0.85%
Mitek Systems IncMITK	XSW +0.74 points	0.01%	0.75%
Manhattan Associates IncMANH	XSW +0.74 points	0.08%	0.82%
Procore Technologies IncPCOR	XSW +0.74 points	0.05%	0.79%
Palantir Technologies IncPLTR	VGT +0.74 points	1.55%	0.81%
Agilysys IncAGYS	XSW +0.73 points	0.04%	0.77%
SPS Commerce IncSPSC	XSW +0.73 points	0.04%	0.77%
Life360 IncLIF	XSW +0.72 points	0.04%	0.76%
Q2 Holdings IncQTWO	XSW +0.72 points	0.05%	0.77%
Kyndryl Holdings IncKD	XSW +0.72 points	0.03%	0.75%
Consensus Cloud Solutions IncCCSI	XSW +0.72 points	<0.01%	0.73%
Guidewire Software IncGWRE	XSW +0.72 points	0.07%	0.79%
Trimble IncTRMB	XSW +0.71 points	0.09%	0.80%
Clear Secure IncYOU	XSW +0.71 points	0.04%	0.75%
A10 Networks IncATEN	XSW +0.70 points	0.03%	0.73%
PAR Technology CorpPAR	XSW +0.70 points	<0.01%	0.71%
nCino IncNCNO	XSW +0.70 points	0.03%	0.73%
ACI Worldwide IncACIW	XSW +0.70 points	0.05%	0.75%
Zeta Global Holdings CorpZETA	XSW +0.69 points	0.07%	0.76%
Cerence IncCRNC	XSW +0.69 points	<0.01%	0.69%
Intapp IncINTA	XSW +0.68 points	0.03%	0.71%
Tyler Technologies IncTYL	XSW +0.68 points	0.09%	0.77%
Varonis Systems IncVRNS	XSW +0.68 points	0.06%	0.74%
Daily Journal CorpDJCO	XSW +0.68 points	0.01%	0.69%
Dropbox IncDBX	XSW +0.68 points	0.06%	0.74%
LiveRamp Holdings IncRAMP	XSW +0.68 points	0.03%	0.71%
NCR Voyix CorpVYX	XSW +0.68 points	0.01%	0.69%
HubSpot IncHUBS	XSW +0.67 points	0.06%	0.73%
Samsara IncIOT	XSW +0.67 points	0.09%	0.76%
Dolby Laboratories IncDLB	XSW +0.66 points	0.05%	0.71%
BILL Holdings IncBILL	XSW +0.66 points	0.05%	0.71%
UiPath IncPATH	XSW +0.66 points	0.05%	0.71%
Atlassian CorpTEAM	XSW +0.66 points	0.15%	0.81%
Digital Turbine IncAPPS	XSW +0.65 points	0.02%	0.67%
Appfolio IncAPPF	XSW +0.66 points	0.05%	0.71%
BigBear.ai Holdings IncBBAI	XSW +0.65 points	0.01%	0.66%
Roper Technologies IncROP	XSW +0.65 points	0.16%	0.81%
Pegasystems IncPEGA	XSW +0.64 points	0.04%	0.68%
Arteris IncAIP	XSW +0.64 points	<0.01%	0.64%
Nutanix IncNTNX	XSW +0.63 points	0.11%	0.74%
BitMine Immersion Technologies IncBMNR	XSW +0.63 points	<0.01%	0.63%
Autodesk IncADSK	XSW +0.62 points	0.20%	0.82%
InterDigital IncIDCC	XSW +0.62 points	0.07%	0.69%
Cognizant Technology Solutions CorpCTSH	XSW +0.61 points	0.14%	0.75%
Zoom Communications IncZM	XSW +0.60 points	0.11%	0.71%
Gen Digital IncGEN	XSW +0.60 points	0.07%	0.67%
Strategy IncMSTR	XSW +0.59 points	0.16%	0.75%
Unity Software IncU	XSW +0.56 points	0.09%	0.65%
Workday IncWDAY	XSW +0.56 points	0.18%	0.74%
Circle Internet Group IncCRCL	XSW +0.55 points	0.05%	0.60%
Adeia IncADEA	XSW +0.55 points	0.04%	0.59%
Synopsys IncSNPS	XSW +0.55 points	0.33%	0.88%
Accenture PLCACN	XSW +0.54 points	0.45%	0.99%
NextNav IncNN	XSW +0.54 points	0.01%	0.55%

All 310 VGT holdings⁠All 130 XSW 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.

VGT vs XSW Cost

Overpaying XSW vs VGT

$5,228

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

VGT 0.09%
$1,898
XSW 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

VGT 0.09%
XSW 0.35%
Overpaying

Year by year

Year	VGT	XSW	Overpaying
10	$165	$634	$469
20	$646	$2,454	$1,808
30	$1,898	$7,126	$5,228

Expense ratio

0.09%VGT, cheaper
0.35%XSW

VGT0.09%XSW0.35%

0.08%1.00%

Middle half of Technology (Broad) funds
Median 0.45%

VGT 3rd cheapest of 23 funds

XSW 5th cheapest of 23 funds

VGT vs XSW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VGT 0.40%, better; XSW 0.00%
Payout (12M): VGT $0.47; XSW None
Last payment: VGT $0.15; XSW No data
Ex-dividend: VGT Sep 23, 2026; XSW No data
Paid on: VGT Sep 25, 2026; XSW No data
Frequency: VGT Quarterly; XSW No data

Distribution history

Per share, 2017 to 2026, same scale for both

VGTQuarterly · 39 paymentsAll VGT payments⁠

XSW29 paymentsAll XSW payments⁠

VGT vs XSW Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: VGT 22.2%, betterXSW 25.9%
Return per unit of riskSharpe ratio, 3 years: VGT 1.19, betterXSW 0.68
Worst fallMax drawdown, 5 years: VGT −35.1%, betterXSW −45.4%
Market sensitivityBeta, 5 years: VGT 1.35XSW 1.37; Market = 1

VGT and XSW in the news

All news⁠

Category Review
Equal-weight technology beat the biggest tech funds this year
Updated Oct 26, 2026VGT
Top Movers
Cybersecurity funds led the week, up as much as 12.7%, as gold miners fell
Oct 23, 2026XSW
Head-to-Head
QQQ vs. VGT: choose VGT for technology, QQQ for the Nasdaq-100
Oct 23, 2026VGT
New ETFs
XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF
Oct 12, 2026VGT
Head-to-Head
Vanguard Information Technology ETF holds NVIDIA, Apple and Microsoft at twice the weight of Invesco QQQ Trust, Series 1
Oct 10, 2026VGT
Sector Pulse
Materials led the sectors, pulled by Vylor and two steelmakers
Oct 5, 2026VGT

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VGT vs XSW

In short

Stated mandate

Why people hold it