VAWvsXLBETF Comparison
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Vanguard Materials ETF (VAW) and State Street Materials Select Sector SPDR ETF (XLB) belong to the same industry segment: US Materials. VAW's top 3 sector exposures are Non-Energy Materials, Energy and Industrials. In contrast, XLB's top sector exposures are Non-Energy Materials. VAW is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.08% for XLB. VAW is up 9.77% year-to-date (YTD) with -$138M in YTD flows. XLB performs better with 13.8% YTD performance, and +$2.03B in YTD flows. Run a side-by-side ETF comparison of VAW and XLB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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VAW vs XLB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VAW XLB | +1.27%+2.42% | +2.20%+2.33% | +9.77%+13.80% | +11.86%+16.57% | +41.94%+41.40% | +33.14%+33.08% |
| Flows | VAW XLB | -$144M-$229M | -$27M-$427M | -$138M+$2.03B | -$150M+$1.68B | -$615M+$1.33B | -$1.26B-$76M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VAW XLB | +16.83%+16.16% | +18.90%+17.78% | +17.98%+17.31% | +19.80%+19.08% |
| Max drawdown | VAW XLB | -9.24%-9.08% | -13.41%-12.34% | -23.20%-23.18% | -25.44%-24.78% |
| Max drawdown duration | VAW XLB | 55d54d | 232d177d | 430d445d | 679d679d |
Trading data
VAW | XLB | |
Last sale 10/20/2026 at 1:30 PM | $226.23 | $51.23 |
| Previous close 10/19/2026 | $225.37 | $50.95 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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VAW | XLB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/20/2026 at 1:30 PM
Live
Closed
VAW | XLB | |
|---|---|---|
| Last price | $226.23 | $51.23 |
| 1D performance | +0.38% | +0.55% |
| AuM | $2.93 B | $8.02 B |
| E/R | 0.09% | 0.08% |
Characteristics
VAW | XLB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | State Street Investment Management |
| Benchmark | MSCI US IMI Materials 25/50 Index | S&P Materials Select Sector Index |
| N° of holdings | 110 | 25 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 26, 2004 | December 16, 1998 |
| ESG | No | No |
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Exposure
Countries
VAW
USA
80.35%
United Kingdom
15.65%
Other
4%
XLB
USA
78.27%
United Kingdom
15.38%
Other
6.35%
Sectors
VAW
Non-Energy Materi.
98.64%
Other
1.36%
XLB
Non-Energy Materi.
99.73%
Other
0.27%
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Diversification
VAW
Total weight of top 15 holdings out of 15
66.07%
XLB
Total weight of top 15 holdings out of 15
76.58%
Top 15 holdings
Data as of August 31, 2026
VAW
Linde Plc
14.57%
Newmont Corp.
8.58%
Freeport-McMoRan, Inc.
7.00%
The Sherwin-Williams Co.
4.97%
Ecolab, Inc.
4.61%
Air Products & Chemicals, Inc.
4.14%
CRH Plc
4.05%
Corteva, Inc.
3.64%
Nucor Corp.
3.57%
Vulcan Materials Co.
2.25%
Steel Dynamics, Inc.
2.05%
Martin Marietta Materials, Inc.
2.00%
PPG Industries, Inc.
1.61%
Smurfit WestRock Plc
1.58%
Royal Gold, Inc.
1.43%
XLB
Linde Plc
13.15%
Newmont Corp.
7.82%
Freeport-McMoRan, Inc.
6.33%
Corteva, Inc.
4.90%
Air Products & Chemicals, Inc.
4.84%
The Sherwin-Williams Co.
4.82%
Ecolab, Inc.
4.76%
Nucor Corp.
4.31%
Vulcan Materials Co.
4.27%
CRH Plc
4.08%
Martin Marietta Materials, Inc.
4.05%
Steel Dynamics, Inc.
3.75%
PPG Industries, Inc.
3.32%
Smurfit WestRock Plc
3.26%
International Flavors & Fragrances, Inc.
2.92%
Frequently asked questions about VAW and XLB
How have the VAW and XLB ETFs performed in 2026?
As of October 19, 2026, VAW is up 9.77% year-to-date (YTD), while XLB has returned 13.8%. That puts XLB better performer ahead so far this year.
Which ETF is attracting more investor money: VAW or XLB?
Year-to-date, the VAW ETF saw -$138M in flows, compared to +$2.03B for XLB.
Which ETF is more volatile: VAW or XLB?
Over the past year, VAW had a volatility of 18.9%, while XLB experienced 17.78%.
Which ETF is bigger: VAW or XLB?
As of October 19, 2026, VAW holds $2.93 B in assets under management (AUM), while XLB manages $8.02 B.
What sectors do the VAW and XLB ETFs invest in?
VAW leans toward sectors like Non-Energy Materials. Meanwhile, XLB focuses on Non-Energy Materials.
What are the top holdings of the VAW ETF and XLB ETF?
VAW top holdings include Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc.. XLB holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: VAW or XLB?
VAW holds 110 securities with 66.07% of its assets in the top 15. XLB has 25 securities and a top 15 weight of 76.58%.
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Latest news about VAW & XLB
Investing in Sector ETFs: Energy, Industrials, & Materials
September 6, 2024
XLB
Tony's ETF Buyer's Guide: Sector ETFs (Vanguard versus State Street SPDR)
December 1, 2023
VAW
XLB
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