XLBvsFMATETF Comparison
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State Street Materials Select Sector SPDR ETF (XLB) and Fidelity MSCI Materials Index ETF (FMAT) belong to the same industry segment: US Materials. XLB's top 1 sector exposures are Non-Energy Materials. In contrast, FMAT's top sector exposures are Non-Energy Materials, Energy and Industrials. XLB is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.084% for FMAT. XLB is up 12.81% year-to-date (YTD) with +$2.36B in YTD flows. FMAT performs worse with 9.64% YTD performance, and +$104M in YTD flows. Run a side-by-side ETF comparison of XLB and FMAT 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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XLB vs FMAT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/17/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XLB FMAT | -2.86%-3.59% | -2.14%-3.35% | +12.81%+9.64% | +13.66%+11.22% | +32.03%+33.03% | +37.68%+39.07% |
| Flows | XLB FMAT | -$186M+$12M | +$223M+$121K | +$2.36B+$104M | +$2.14B+$127M | +$1.76B+$35M | -$168M+$24M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XLB FMAT | +17.12%+18.60% | +17.83%+19.17% | +17.41%+18.23% | +19.11%+19.87% |
| Max drawdown | XLB FMAT | -6.10%-6.67% | -12.34%-13.46% | -23.18%-23.21% | -24.78%-25.40% |
| Max drawdown duration | XLB FMAT | 22d23d | 177d200d | 445d430d | 679d679d |
Trading data
XLB | FMAT | |
Last sale 9/18/2026 at 1:30 PM | $49.99 | $56.89 |
| Previous close 09/17/2026 | $50.71 | $57.78 |
| Consolidated volume 09/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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XLB | FMAT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/18/2026 at 1:30 PM
Live
Closed
XLB | FMAT | |
|---|---|---|
| Last price | $49.99 | $56.89 |
| 1D performance | -1.42% | -1.54% |
| AuM | $8.32 B | $598.35 M |
| E/R | 0.08% | 0.084% |
Characteristics
XLB | FMAT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Fidelity |
| Benchmark | S&P Materials Select Sector Index | MSCI USA IMI Materials 25/50 |
| N° of holdings | 25 | 100 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 16, 1998 | October 21, 2013 |
| ESG | No | No |
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Exposure
Countries
XLB
USA
77.95%
United Kingdom
15.64%
Other
6.4%
FMAT
USA
79.87%
United Kingdom
16.44%
Other
3.7%
Sectors
XLB
Non-Energy Materi.
99.81%
Other
0.19%
FMAT
Non-Energy Materi.
99.34%
Other
0.66%
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Diversification
XLB
Total weight of top 15 holdings out of 15
76.14%
FMAT
Total weight of top 15 holdings out of 15
66.31%
Top 15 holdings
Data as of July 31, 2026
XLB
Linde Plc
13.42%
Newmont Corp.
6.07%
Freeport-McMoRan, Inc.
5.46%
The Sherwin-Williams Co.
5.06%
Ecolab, Inc.
4.88%
Air Products & Chemicals, Inc.
4.81%
Corteva, Inc.
4.77%
Nucor Corp.
4.64%
Vulcan Materials Co.
4.45%
CRH Plc
4.29%
Martin Marietta Materials, Inc.
4.29%
Steel Dynamics, Inc.
4.23%
PPG Industries, Inc.
3.41%
Smurfit WestRock Plc
3.34%
Dow, Inc.
3.03%
FMAT
Linde Plc
15.46%
Newmont Corp.
6.45%
Freeport-McMoRan, Inc.
5.78%
The Sherwin-Williams Co.
5.43%
Ecolab, Inc.
4.69%
CRH Plc
4.52%
Air Products & Chemicals, Inc.
4.04%
Corteva, Inc.
3.90%
Nucor Corp.
3.85%
Vulcan Materials Co.
2.46%
Steel Dynamics, Inc.
2.33%
Martin Marietta Materials, Inc.
2.29%
PPG Industries, Inc.
1.74%
Smurfit WestRock Plc
1.74%
Amrize Ltd.
1.64%
Frequently asked questions about XLB and FMAT
How have the XLB and FMAT ETFs performed in 2026?
As of September 17, 2026, XLB is up 12.81% year-to-date (YTD), while FMAT has returned 9.64%. That puts XLB better performer ahead so far this year.
Which ETF is attracting more investor money: XLB or FMAT?
Year-to-date, the XLB ETF saw +$2.36B in flows, compared to +$104M for FMAT.
Which ETF is more volatile: XLB or FMAT?
Over the past year, XLB had a volatility of 17.83%, while FMAT experienced 19.17%.
Which ETF is bigger: XLB or FMAT?
As of September 17, 2026, XLB holds $8.32 B in assets under management (AUM), while FMAT manages $598.35 M.
What sectors do the XLB and FMAT ETFs invest in?
XLB leans toward sectors like Non-Energy Materials. Meanwhile, FMAT focuses on Non-Energy Materials.
What are the top holdings of the XLB ETF and FMAT ETF?
XLB top holdings include Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc.. FMAT holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: XLB or FMAT?
XLB holds 25 securities with 76.14% of its assets in the top 15. FMAT has 101 securities and a top 15 weight of 66.31%.
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Latest news about XLB & FMAT
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
XLB
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