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. XME's top 2 sector exposures are Non-Energy Materials and Energy. In contrast, FMAT's top sector exposures are Non-Energy Materials, Energy and Industrials. XME is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.084% for FMAT. XME is up 10.92% year-to-date (YTD) with +$1.05B in YTD flows. FMAT performs worse with 10.36% YTD performance, and +$101M 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 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XME FMAT | -2.33%-4.35% | +2.25%+2.28% | +10.92%+10.36% | +35.75%+12.23% | +126.59%+33.00% | +168.50%+35.55% |
| Flows | XME FMAT | +$278M+$9M | -$24M-$3M | +$1.05B+$101M | +$1.58B+$124M | +$1.33B+$34M | +$1.13B+$7M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XME FMAT | +37.50%+20.19% | +38.21%+19.26% | +31.43%+18.24% | +32.80%+19.90% |
| Max drawdown | XME FMAT | -19.06%-6.65% | -26.46%-13.46% | -30.47%-23.21% | -37.25%-25.40% |
| Max drawdown duration | XME FMAT | 70d52d | 100d193d | 237d430d | 760d679d |
Trading data
XME | FMAT | |
Last sale 9/11/2026 at 1:30 PM | $113.63 | $58.46 |
| Previous close 09/10/2026 | $114.77 | $58.21 |
| Consolidated volume 09/10/2026 | ||
| 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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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 9/11/2026 at 1:30 PM
Live
Closed
XME | FMAT | |
|---|---|---|
| Last price | $113.63 | $58.46 |
| 1D performance | -0.99% | +0.43% |
| AuM | $4.70 B | $599.40 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 | 100 |
| 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
98.59%
Other
1.41%
FMAT
USA
79.87%
United Kingdom
16.44%
Other
3.7%
Sectors
XME
Non-Energy Materi.
80.69%
Energy
19.25%
Other
0.05%
FMAT
Non-Energy Materi.
99.34%
Other
0.66%
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Diversification
XME
Total weight of top 15 holdings out of 15
64.8%
FMAT
Total weight of top 15 holdings out of 15
66.31%
Top 15 holdings
Data as of July 31, 2026
XME
Centrus Energy Corp.
5.14%
Reliance, Inc.
4.60%
Nucor Corp.
4.59%
Uranium Energy Corp.
4.55%
Newmont Corp.
4.51%
Freeport-McMoRan, Inc.
4.51%
Royal Gold, Inc.
4.50%
Hecla Mining Co.
4.49%
Coeur Mining, Inc.
4.32%
Steel Dynamics, Inc.
4.18%
Commercial Metals Co.
4.17%
Cleveland-Cliffs, Inc.
4.15%
Core Natural Resources, Inc.
3.91%
Warrior Met Coal, Inc.
3.72%
MP Materials Corp.
3.46%
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 XME and FMAT
How have the XME and FMAT ETFs performed in 2026?
As of September 10, 2026, XME is up 10.92% year-to-date (YTD), while FMAT has returned 10.36%. That puts XME better performer ahead so far this year.
Which ETF is attracting more investor money: XME or FMAT?
Year-to-date, the XME ETF saw +$1.05B in flows, compared to +$101M for FMAT.
Which ETF is more volatile: XME or FMAT?
Over the past year, XME had a volatility of 38.21%, while FMAT experienced 19.26%.
Which ETF is bigger: XME or FMAT?
As of September 10, 2026, XME holds $4.70 B in assets under management (AUM), while FMAT manages $599.40 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 Centrus Energy Corp., Reliance, Inc. and Nucor 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 64.8% 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 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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