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 5.52% year-to-date (YTD) with -$718M in YTD flows. FNCL performs better with 5.94% YTD performance, and -$154M 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 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XLF FNCL | -0.92%-0.83% | +10.58%+10.65% | +5.52%+5.94% | +9.58%+9.49% | +75.01%+78.22% | +65.51%+66.49% |
| Flows | XLF FNCL | -$3.74B-$12M | +$370M-$31M | -$718M-$154M | -$3.41B-$130M | +$904M+$60M | -$3.48B-$157M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XLF FNCL | +13.02%+13.41% | +14.54%+14.94% | +16.11%+16.87% | +18.44%+19.14% |
| Max drawdown | XLF FNCL | -2.28%-2.40% | -14.79%-14.71% | -15.51%-17.30% | -25.84%-25.71% |
| Max drawdown duration | XLF FNCL | 11d20d | 177d177d | 116d129d | 770d770d |
Trading data
XLF | FNCL | |
Last sale 9/9/2026 at 1:30 PM | $57.06 | $81.14 |
| Previous close 09/08/2026 | $57.30 | $81.60 |
| Consolidated volume 09/08/2026 | ||
| 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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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 9/9/2026 at 1:30 PM
Live
Closed
XLF | FNCL | |
|---|---|---|
| Last price | $57.06 | $81.14 |
| 1D performance | -0.42% | -0.56% |
| AuM | $54.74 B | $2.38 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 | 383 |
| 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
96.29%
Other
3.71%
FNCL
USA
95.96%
Other
4.04%
Sectors
XLF
Finance
95.61%
Other
4.39%
FNCL
Finance
95.7%
Other
4.3%
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Diversification
XLF
Total weight of top 15 holdings out of 15
65.74%
FNCL
Total weight of top 15 holdings out of 15
55.95%
Top 15 holdings
Data as of July 31, 2026
XLF
JPMorgan Chase & Co.
11.72%
Berkshire Hathaway, Inc.
11.66%
Visa, Inc.
7.56%
Mastercard, Inc.
5.75%
Bank of America Corp.
5.03%
The Goldman Sachs Group, Inc.
3.74%
Wells Fargo & Co.
3.29%
Morgan Stanley
3.14%
Citigroup, Inc.
2.79%
American Express Co.
2.23%
The Charles Schwab Corp.
2.14%
BlackRock, Inc.
1.96%
Capital One Financial Corp.
1.62%
Chubb Ltd.
1.57%
S&P Global, Inc.
1.55%
FNCL
JPMorgan Chase & Co.
10.47%
Berkshire Hathaway, Inc.
7.79%
Visa, Inc.
6.73%
Mastercard, Inc.
5.03%
Bank of America Corp.
4.64%
The Goldman Sachs Group, Inc.
3.33%
Wells Fargo & Co.
2.91%
Morgan Stanley
2.74%
Citigroup, Inc.
2.47%
American Express Co.
1.95%
The Charles Schwab Corp.
1.91%
BlackRock, Inc.
1.77%
S&P Global, Inc.
1.41%
The Progressive Corp.
1.40%
Chubb Ltd.
1.39%
Frequently asked questions about XLF and FNCL
How have the XLF and FNCL ETFs performed in 2026?
As of September 8, 2026, XLF is up 5.52% year-to-date (YTD), while FNCL has returned 5.94%. That puts FNCL better performer ahead so far this year.
Which ETF is attracting more investor money: XLF or FNCL?
Year-to-date, the XLF ETF saw -$718M in flows, compared to -$154M for FNCL.
Which ETF is more volatile: XLF or FNCL?
Over the past year, XLF had a volatility of 14.54%, while FNCL experienced 14.94%.
Which ETF is bigger: XLF or FNCL?
As of September 8, 2026, XLF holds $54.74 B in assets under management (AUM), while FNCL manages $2.38 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 65.74% of its assets in the top 15. FNCL has 383 securities and a top 15 weight of 55.95%.
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Latest news about XLF & FNCL
The Weekly ETF Market Monitor (August 24-28, 2026)
August 31, 2026
XLF
The Weekly ETF Market Monitor (August 17-21, 2026)
August 24, 2026
XLF
Investing in Sector ETFs: Financials and Real Estate
September 11, 2024
XLF
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May 2024 U.S. Sector ETFs Inflows and Outflows Breakdown
May 22, 2024
XLF
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