XLFvsFNCLETF Comparison
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State Street Financial Select Sector SPDR ETF (XLF) and Fidelity MSCI Financials Index ETF (FNCL) belong to the same industry segment: US Financials. Both ETFs have the same top 3 sector exposures: Finance, Technology and Business Services. XLF is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.084% for FNCL. XLF is up 3.34% year-to-date (YTD) with -$2.38B in YTD flows. FNCL performs worse with 3.2% YTD performance, and -$168M in YTD flows. Run a side-by-side ETF comparison of XLF and FNCL 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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XLF vs FNCL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XLF FNCL | +2.53%+2.30% | +0.46%-0.16% | +3.34%+3.20% | +8.06%+8.08% | +82.97%+85.78% | +50.21%+49.51% |
| Flows | XLF FNCL | -$868M-$54M | -$4.07B-$22M | -$2.38B-$168M | -$4.67B-$201M | +$892M+$55M | -$5.82B-$218M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XLF FNCL | +12.89%+13.38% | +14.45%+14.78% | +16.06%+16.80% | +18.33%+19.04% |
| Max drawdown | XLF FNCL | -8.51%-8.79% | -14.79%-14.71% | -15.51%-17.30% | -25.84%-25.71% |
| Max drawdown duration | XLF FNCL | 50d50d | 177d177d | 116d129d | 770d770d |
Trading data
XLF | FNCL | |
Last sale 10/23/2026 at 1:30 PM | $55.90 | $79.09 |
| Previous close 10/22/2026 | $56.65 | $80.18 |
| Consolidated volume 10/22/2026 | ||
| 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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XLF | FNCL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
XLF | FNCL | |
|---|---|---|
| Last price | $55.90 | $79.09 |
| 1D performance | -1.32% | -1.36% |
| AuM | $51.73 B | $2.29 B |
| E/R | 0.08% | 0.084% |
Characteristics
XLF | FNCL | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Fidelity |
| Benchmark | S&P Financials Select Sector Index | MSCI USA IMI Financials 25/50 Index |
| N° of holdings | 76 | 307 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 16, 1998 | October 21, 2013 |
| ESG | No | No |
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Exposure
Countries
XLF
USA
96.37%
Other
3.63%
FNCL
USA
96.39%
Other
3.61%
Sectors
XLF
Finance
95.38%
Other
4.62%
FNCL
Finance
95.65%
Other
4.35%
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Diversification
XLF
Total weight of top 15 holdings out of 15
65.62%
FNCL
Total weight of top 15 holdings out of 15
58.9%
Top 15 holdings
Data as of August 31, 2026
XLF
JPMorgan Chase & Co.
11.70%
Berkshire Hathaway, Inc.
11.34%
Visa, Inc.
7.72%
Mastercard, Inc.
5.83%
Bank of America Corp.
4.96%
The Goldman Sachs Group, Inc.
3.69%
Wells Fargo & Co.
3.24%
Morgan Stanley
3.14%
Citigroup, Inc.
2.75%
The Charles Schwab Corp.
2.20%
American Express Co.
2.16%
BlackRock, Inc.
2.05%
Capital One Financial Corp.
1.64%
S&P Global, Inc.
1.62%
The Progressive Corp.
1.56%
FNCL
JPMorgan Chase & Co.
10.87%
Berkshire Hathaway, Inc.
8.15%
Visa, Inc.
7.25%
Mastercard, Inc.
5.53%
Bank of America Corp.
4.63%
The Goldman Sachs Group, Inc.
3.48%
Wells Fargo & Co.
3.00%
Morgan Stanley
2.90%
Citigroup, Inc.
2.59%
The Charles Schwab Corp.
2.08%
American Express Co.
2.01%
BlackRock, Inc.
1.97%
S&P Global, Inc.
1.53%
The Progressive Corp.
1.46%
Capital One Financial Corp.
1.45%
Frequently asked questions about XLF and FNCL
How have the XLF and FNCL ETFs performed in 2026?
As of October 23, 2026, XLF is up 3.34% year-to-date (YTD), while FNCL has returned 3.2%. That puts XLF better performer ahead so far this year.
Which ETF is attracting more investor money: XLF or FNCL?
Year-to-date, the XLF ETF saw -$2.38B in flows, compared to -$168M for FNCL.
Which ETF is more volatile: XLF or FNCL?
Over the past year, XLF had a volatility of 14.45%, while FNCL experienced 14.78%.
Which ETF is bigger: XLF or FNCL?
As of October 23, 2026, XLF holds $51.73 B in assets under management (AUM), while FNCL manages $2.29 B.
What sectors do the XLF and FNCL ETFs invest in?
XLF leans toward sectors like Finance. Meanwhile, FNCL focuses on Finance.
What are the top holdings of the XLF ETF and FNCL ETF?
XLF top holdings include JPMorgan Chase & Co., Berkshire Hathaway, Inc. and Visa, Inc.. FNCL holds in its top three: JPMorgan Chase & Co., Berkshire Hathaway, Inc. and Visa, Inc..
Which ETF is more diversified: XLF or FNCL?
XLF holds 76 securities with 65.62% of its assets in the top 15. FNCL has 307 securities and a top 15 weight of 58.9%.
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