VIS vs XLI: Grades, Fees and Holdings Compared

Vanguard Industrials ETF

VISBNYSE Arca

State Street Industrial Select Sector SPDR ETF

XLIANYSE Arca

Overlap

78.9%by weight

Expense ratio

XLI −0.01pt a year

VIS0.09%XLI0.08%

Avg volume · 30D

XLI 54.5×the volume

VIS130KXLI7.07M

10Y return · a year

XLI +0.1pt

VIS+13.1%XLI+13.2%

VIS vs XLI Performance

Oct 29, 2021 – Oct 30, 2026

+70.4%VIS+72.6%XLI

Expense ratio: VIS 0.09%; XLI 0.08%, better
Fund size: VIS $8.6B; XLI $31.5B
1Y total return: VIS +7.8%; XLI +9.2%, better
Yield (12M): VIS 0.96%; XLI 1.13%, better
Holdings: VIS 399; XLI 85
Avg volume (30D): VIS 130K sh; XLI 7.07M sh, better
NAV per share: VIS $320.68; XLI $170.10
52W range

ETF.net Grade

Pillar letters and Scores for VIS, XLI, with each pillar’s weight
Pillar	VIS	XLI
Cost30% weight	A72	A90Higher
Mission25% weight	Not scored	A85
Risk15% weight	B60	B67Higher
Tradability15% weight	C53	A95Higher
Holdings10% weight	B58Higher	C44
Durability5% weight	A83Higher	A81

Rank among Industrials (Broad) funds

How we build Categories ›

Same Category. VIS 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 VIS 3rd of 10 funds in the Industrials (Broad) Category.

Rank 1AXLIState Street Industrial Select Sector SPDR ETFScore 79
Rank 2AFIDUFidelity MSCI Industrials Index ETFScore 72
Rank 3BVISVanguard Industrials ETFScore 64
Rank 4CEXIiShares Global Industrials ETFScore 52

Our read on each fund

ETF.net Research

VISBVanguard Industrials ETF

XLIAState Street Industrial Select Sector SPDR ETF

In short

VIS Industrials, the whole aisle: jet engines and railroads down to small-cap machinery shops, roughly 400 names for 0.09% a year. Vanguard has run it as a straight index fund since 2004.

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

VIS The fund seeks to track the MSCI US Investable Market Industrials 25/50 Index and invests in multicapitalization equities focused on the industrials sector.

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

Why people hold it

VIS 0.09% a year against a 0.38% median for broad industrials funds. Index-fund pricing for index-fund work.
About 400 holdings spanning large, mid and small US industrials, so defense primes and railroads sit next to smaller machinery and services names.vanguard.com
Pure index mandate: it follows the MSCI US Investable Market Industrials 25/50 Index and has tracked it very tightly, with no manager stock-picking layered on.
One of the strongest implementations in the broad US industrials group, a multi-billion-dollar fund trading since 2004 and paying 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

VIS One sector, one cycle. Industrials ride capital spending and freight demand, so this tends to move as a block rather than smooth anything out.
The small- and mid-cap tail is part of the design, and it adds bumpiness a large-cap-only sector fund would not carry.vanguard.com
Not the price floor in the group: XLI and FIDU both list 0.08%. One basis point, but worth knowing.

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 VIS profile⁠

Full XLI profile⁠

VIS vs XLI Holdings

How VIS and XLI differ

Overlap by weight

78.9%

Shared holdings make up 100% of XLI and 79.0% of VIS.

Level by level

Holdings83 in both78.9%
Sector8 Sectors98.7%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in VIS and XLI, widest gap first
Sector	More in VISMore in XLI	VIS	XLI
Industrials	XLI +1.4 points	92.0%	93.4%
Consumer Discretionary	VIS +0.6 points	0.8%	0.2%
Technology	VIS +0.3 points	6.4%	6.1%
Financials	VIS +0.2 points	0.2%	0.0%
Materials	VIS +0.2 points	0.5%	0.3%
Utilities	Same weight	0.0%	0.0%
Health Care	Same weight	0.0%	0.0%
Communication	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in VIS and XLI, widest gap first
Country	More in VISMore in XLI	VIS	XLI
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

VIS30.9%
XLI37.5%

Securities held

VIS397
XLI83

Asset class

VIS: Equity
XLI: Equity

Holdings

Only in VIS314
In both83
Only in XLI0

Only in VIS

314 securities, 20.6% of VIS by weight

Rocket Lab Corp0.56%
Waste Connections Inc0.53%
nVent Electric PLC0.39%
ATI Inc0.38%
XPO Inc0.30%
Curtiss-Wright Corp0.30%
Woodward Inc0.29%
Carpenter Technology Corp0.28%
ITT Inc0.27%
WESCO International Inc0.26%
HEICO Corp0.26%
FTAI Aviation Ltd0.25%
SS&C Technologies Holdings Inc0.24%
Clean Harbors Inc0.23%
Sterling Infrastructure Inc0.22%
RBC Bearings Inc0.21%
Lincoln Electric Holdings Inc0.21%
CACI International Inc0.20%
API Group Corp0.20%
MasTec Inc0.20%
Carlisle Cos Inc0.20%
HEICO Corp0.20%
Mueller Industries Inc0.19%
BWX Technologies Inc0.19%
Graco Inc0.19%
Applied Industrial Technologies Inc0.18%
TransUnion0.18%
Nextpower Inc0.17%
CNH Industrial NV0.17%
QXO Inc0.16%
Moog Inc0.16%
Watsco Inc0.16%
Donaldson Co Inc0.15%
Knight-Swift Transportation Holdings Inc0.15%
Regal Rexnord Corp0.15%
Crane Co0.15%
Watts Water Technologies Inc0.14%
Modine Manufacturing Co0.14%
Owens Corning0.14%
Allison Transmission Holdings Inc0.14%
Flowserve Corp0.14%
Toro Co/The0.14%
Valmont Industries Inc0.14%
American Airlines Group Inc0.13%
Paycom Software Inc0.13%
Acuity Inc0.13%
Advanced Drainage Systems Inc0.13%
Saia Inc0.13%
Ryder System Inc0.13%
Booz Allen Hamilton Holding Corp0.13%

Only in XLI

0 securities, 0.0% of XLI by weight

Weight gaps

All 83 Holdings in both funds, largest gap first.

Holding weights in VIS and XLI, widest gap first
Holding	More in VISMore in XLI	VIS	XLI
RTX CorpRTX	XLI +1.21 points	3.76%	4.97%
Union Pacific CorpUNP	XLI +1.21 points	2.11%	3.32%
General Electric CoGE	XLI +1.14 points	4.87%	6.01%
Lockheed Martin CorpLMT	XLI +0.83 points	1.59%	2.42%
Uber Technologies IncUBER	XLI +0.64 points	1.84%	2.48%
Deere & CoDE	XLI +0.62 points	2.45%	3.07%
General Dynamics CorpGD	XLI +0.59 points	1.15%	1.74%
Automatic Data Processing IncADP	XLI +0.55 points	1.55%	2.10%
GE Vernova IncGEV	XLI +0.54 points	3.84%	4.38%
CSX CorpCSX	XLI +0.49 points	1.30%	1.79%
Emerson Electric CoEMR	XLI +0.45 points	1.31%	1.76%
United Parcel Service IncUPS	XLI +0.44 points	1.05%	1.49%
United Rentals IncURI	XLI +0.44 points	0.94%	1.38%
Boeing Co/TheBA	XLI +0.42 points	2.10%	2.52%
Vertiv Holdings CoVRT	XLI +0.43 points	1.32%	1.75%
Johnson Controls International plcJCI	XLI +0.41 points	1.36%	1.77%
Northrop Grumman CorpNOC	XLI +0.41 points	0.98%	1.39%
3M CoMMM	XLI +0.40 points	1.29%	1.69%
Cintas CorpCTAS	XLI +0.39 points	1.00%	1.39%
Norfolk Southern CorpNSC	XLI +0.38 points	1.04%	1.42%
Waste Management IncWM	XLI +0.36 points	1.23%	1.59%
Parker-Hannifin CorpPH	XLI +0.36 points	1.81%	2.17%
Eaton Corp PLCETN	XLI +0.32 points	2.51%	2.83%
Quanta Services IncPWR	XLI +0.32 points	1.45%	1.77%
FedEx CorpFDX	XLI +0.31 points	0.94%	1.25%
Honeywell International IncHON	XLI +0.29 points	1.01%	1.30%
L3Harris Technologies IncLHX	XLI +0.30 points	0.66%	0.96%
TransDigm Group IncTDG	XLI +0.29 points	0.91%	1.20%
Illinois Tool Works IncITW	XLI +0.29 points	1.06%	1.35%
WW Grainger IncGWW	XLI +0.28 points	0.82%	1.10%
Fastenal CoFAST	XLI +0.26 points	0.86%	1.12%
Trane Technologies PLCTT	XLI +0.26 points	1.50%	1.76%
Cummins IncCMI	XLI +0.25 points	1.07%	1.32%
Carrier Global CorpCARR	XLI +0.23 points	0.62%	0.85%
Republic Services IncRSG	XLI +0.23 points	0.63%	0.86%
AMETEK IncAME	XLI +0.22 points	0.85%	1.07%
Ferguson Enterprises IncFERG	XLI +0.21 points	0.65%	0.86%
Honeywell Aerospace IncHONA	XLI +0.20 points	0.74%	0.94%
Rockwell Automation IncROK	XLI +0.20 points	0.73%	0.93%
Paychex IncPAYX	XLI +0.18 points	0.47%	0.65%
Axon Enterprise IncAXON	XLI +0.17 points	0.49%	0.66%
Westinghouse Air Brake Technologies CorpWAB	XLI +0.16 points	0.73%	0.89%
Howmet Aerospace IncHWM	XLI +0.16 points	1.36%	1.52%
Otis Worldwide CorpOTIS	XLI +0.16 points	0.37%	0.53%
Dover CorpDOV	XLI +0.14 points	0.38%	0.52%
Equifax IncEFX	XLI +0.14 points	0.25%	0.39%
Delta Air Lines IncDAL	XLI +0.14 points	0.76%	0.90%
Fortive CorpFTV	XLI +0.14 points	0.23%	0.37%
Verisk Analytics IncVRSK	XLI +0.13 points	0.33%	0.46%
PACCAR IncPCAR	XLI +0.13 points	0.87%	1.00%
Veralto CorpVLTO	XLI +0.12 points	0.35%	0.47%
Expeditors International of Washington IncEXPD	XLI +0.12 points	0.36%	0.48%
Caterpillar IncCAT	VIS +0.11 points	5.62%	5.51%
Copart IncCPRT	XLI +0.11 points	0.35%	0.46%
Leidos Holdings IncLDOS	XLI +0.11 points	0.22%	0.33%
Old Dominion Freight Line IncODFL	XLI +0.10 points	0.49%	0.59%
Southwest Airlines CoLUV	XLI +0.10 points	0.29%	0.39%
Allegion plcALLE	XLI +0.09 points	0.20%	0.29%
Broadridge Financial Solutions IncBR	XLI +0.10 points	0.28%	0.38%
Jacobs Solutions IncJ	XLI +0.09 points	0.24%	0.33%
United Airlines Holdings IncUAL	XLI +0.09 points	0.54%	0.63%
Masco CorpMAS	XLI +0.09 points	0.20%	0.29%
DuPont de Nemours IncDD	XLI +0.09 points	0.26%	0.35%
Bloom Energy CorpBE	XLI +0.08 points	1.13%	1.21%
Stanley Black & Decker IncSWK	XLI +0.08 points	0.21%	0.29%
Textron IncTXT	XLI +0.08 points	0.20%	0.28%
IDEX CorpIEX	XLI +0.08 points	0.25%	0.33%
Huntington Ingalls Industries IncHII	XLI +0.07 points	0.16%	0.23%
Ingersoll Rand IncIR	XLI +0.07 points	0.44%	0.51%
Hubbell IncHUBB	XLI +0.07 points	0.36%	0.43%
Pentair PLCPNR	XLI +0.06 points	0.13%	0.19%
Nordson CorpNDSN	XLI +0.06 points	0.26%	0.32%
Rollins IncROL	XLI +0.06 points	0.13%	0.19%
Snap-on IncSNA	XLI +0.06 points	0.28%	0.34%
JB Hunt Transport Services IncJBHT	XLI +0.05 points	0.25%	0.30%
Fedex Freight Holding Co IncFDXF	XLI +0.06 points	0.18%	0.24%
EMCOR Group IncEME	XLI +0.06 points	0.50%	0.56%
Generac Holdings IncGNRC	XLI +0.04 points	0.18%	0.22%
Lennox International IncLII	XLI +0.03 points	0.17%	0.20%
A O Smith CorpAOS	XLI +0.03 points	0.10%	0.13%
Xylem Inc/NYXYL	XLI +0.03 points	0.36%	0.39%
Comfort Systems USA IncFIX	VIS +0.02 points	0.88%	0.86%
CH Robinson Worldwide IncCHRW	XLI +0.02 points	0.26%	0.28%

All 387 VIS 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.

VIS vs XLI Cost

Overpaying VIS vs XLI

$209

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

VIS 0.09%
$1,898
XLI 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

VIS 0.09%
XLI 0.08%
Overpaying

Year by year

Year	VIS	XLI	Overpaying
10	$165	$147	$18
20	$646	$575	$71
30	$1,898	$1,689	$209

Expense ratio

0.09%VIS
0.08%XLI, cheaper

XLI0.08%VIS0.09%

0.08%0.60%

Middle half of Industrials (Broad) funds
Median 0.33%

XLI cheapest of 10 funds

VIS 3rd cheapest of 10 funds

VIS vs XLI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VIS 0.96%; XLI 1.13%, better
Payout (12M): VIS $3.06; XLI $1.88
Last payment: VIS $0.70; XLI $0.45
Ex-dividend: VIS Sep 23, 2026; XLI Sep 21, 2026
Paid on: VIS Sep 25, 2026; XLI Sep 23, 2026
Frequency: VIS Quarterly; XLI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

VISQuarterly · 39 paymentsAll VIS payments⁠

XLIQuarterly · 39 paymentsAll XLI payments⁠

VIS vs XLI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: VIS 16.9%XLI 15.9%, better
Return per unit of riskSharpe ratio, 3 years: VIS 0.96XLI 1.01, better
Worst fallMax drawdown, 5 years: VIS −23.0%XLI −21.7%, better
Market sensitivityBeta, 5 years: VIS 1.05XLI 1.00; Market = 1

VIS and XLI in the news

All news⁠

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
Sector Pulse
Real estate falls 2.3% as the 10-year yield closes at 5.11%
Sep 23, 2026XLI

Popular comparisons

VISBvsFIDUA
Vanguard Industrials ETF · Fidelity MSCI Industrials Index ETF
Expense ratio
0.09% · 0.08%
Category
XLIAvsFIDUA
State Street Industrial Select Sector SPDR ETF · Fidelity MSCI Industrials Index ETF
Expense ratio
0.08% · 0.08%
Category
VISBvsEXIC
Vanguard Industrials ETF · iShares Global Industrials ETF
Expense ratio
0.09% · 0.38%
Category
XLIAvsEXIC
State Street Industrial Select Sector SPDR ETF · iShares Global Industrials ETF
Expense ratio
0.08% · 0.38%
Category
VISBvsIYJC
Vanguard Industrials ETF · iShares U.S. Industrials ETF
Expense ratio
0.09% · 0.37%
Category
XLIAvsIYJC
State Street Industrial Select Sector SPDR ETF · iShares U.S. Industrials ETF
Expense ratio
0.08% · 0.37%
Category