XMEvsFMATETF Comparison
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State Street SPDR S&P Metals & Mining ETF (XME) and Fidelity MSCI Materials Index ETF (FMAT) belong to the same industry segment: US Materials. Both ETFs have the same top 3 sector exposures: Non-Energy Materials and Energy. XME is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.084% for FMAT. XME is down -1.68% year-to-date (YTD) with +$696M in YTD flows. FMAT performs better with 8.59% YTD performance, and +$89M in YTD flows. Run a side-by-side ETF comparison of XME 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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XME vs FMAT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XME FMAT | -5.11%-2.19% | -13.53%-4.14% | -1.68%+8.59% | +32.28%+11.20% | +98.28%+26.88% | +145.99%+37.10% |
| Flows | XME FMAT | -$367M-$15M | -$657M+$27M | +$696M+$89M | +$1.10B+$107M | +$827M+$27M | +$713M-$40M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XME FMAT | +40.01%+20.91% | +36.45%+18.66% | +30.59%+17.96% | +32.62%+19.76% |
| Max drawdown | XME FMAT | -26.34%-6.65% | -26.34%-13.46% | -30.47%-23.21% | -37.25%-25.40% |
| Max drawdown duration | XME FMAT | 52d37d | 52d144d | 237d430d | 760d679d |
Trading data
XME | FMAT | |
Last sale 7/27/2026 at 1:30 PM | $103.11 | $58.12 |
| Previous close 07/24/2026 | $101.74 | $57.95 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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XME | 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 7/27/2026 at 1:30 PM
Live
Closed
XME | FMAT | |
|---|---|---|
| Last price | $103.11 | $58.12 |
| 1D performance | +1.35% | +0.29% |
| AuM | $3.86 B | $578.34 M |
| E/R | 0.35% | 0.084% |
Characteristics
XME | FMAT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Fidelity |
| Benchmark | S&P Metals & Mining Select Industry Index | MSCI USA IMI Materials 25/50 |
| N° of holdings | 39 | 101 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 19, 2006 | October 21, 2013 |
| ESG | No | No |
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Exposure
Countries
XME
USA
97.88%
Other
2.12%
FMAT
USA
78.89%
United Kingdom
16.48%
Other
4.63%
Sectors
XME
Non-Energy Materi.
79.72%
Energy
19.49%
Other
0.79%
FMAT
Non-Energy Materi.
98.11%
Other
1.89%
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Diversification
XME
Total weight of top 15 holdings out of 15
62.75%
FMAT
Total weight of top 15 holdings out of 15
65.85%
Top 15 holdings
Data as of June 30, 2026
XME
Uranium Energy Corp.
4.75%
Hecla Mining Co.
4.61%
Centrus Energy Corp.
4.59%
USA Rare Earth, Inc.
4.46%
Coeur Mining, Inc.
4.45%
MP Materials Corp.
4.40%
Freeport-McMoRan, Inc.
4.25%
Royal Gold, Inc.
4.25%
Newmont Corp.
4.23%
Materion Corp.
4.21%
Reliance, Inc.
3.98%
Nucor Corp.
3.73%
Core Natural Resources, Inc.
3.68%
Steel Dynamics, Inc.
3.59%
Commercial Metals Co.
3.58%
FMAT
Linde Plc
15.56%
Newmont Corp.
6.62%
Freeport-McMoRan, Inc.
5.80%
The Sherwin-Williams Co.
5.12%
CRH Plc
4.86%
Ecolab, Inc.
4.59%
Air Products & Chemicals, Inc.
3.81%
Nucor Corp.
3.55%
Corteva, Inc.
3.52%
Vulcan Materials Co.
2.62%
Martin Marietta Materials, Inc.
2.44%
Steel Dynamics, Inc.
2.22%
Amrize Ltd.
1.79%
PPG Industries, Inc.
1.76%
Smurfit WestRock Plc
1.58%
Frequently asked questions about XME and FMAT
How have the XME and FMAT ETFs performed in 2026?
As of July 24, 2026, XME is down -1.68% year-to-date (YTD), while FMAT has returned 8.59%. That puts FMAT better performer ahead so far this year.
Which ETF is attracting more investor money: XME or FMAT?
Year-to-date, the XME ETF saw +$696M in flows, compared to +$89M for FMAT.
Which ETF is more volatile: XME or FMAT?
Over the past year, XME had a volatility of 36.45%, while FMAT experienced 18.66%.
Which ETF is bigger: XME or FMAT?
As of July 24, 2026, XME holds $3.86 B in assets under management (AUM), while FMAT manages $578.34 M.
What sectors do the XME and FMAT ETFs invest in?
XME leans toward sectors like Non-Energy Materials and Energy. Meanwhile, FMAT focuses on Non-Energy Materials.
What are the top holdings of the XME ETF and FMAT ETF?
XME top holdings include Uranium Energy Corp., Hecla Mining Co. and Centrus Energy Corp.. FMAT holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: XME or FMAT?
XME holds 39 securities with 62.75% of its assets in the top 15. FMAT has 102 securities and a top 15 weight of 65.85%.
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Latest news about XME & FMAT
Japan's Nippon Steel Eyes a $14.9 billion Acquisition of U.S. Steel, Offering a 40% Premium
December 26, 2023
XME
Trending sub-sectors in 2022
July 12, 2022
XME
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