XMEvsVAWETF Comparison
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State Street SPDR S&P Metals & Mining ETF (XME) and Vanguard Materials ETF (VAW) belong to the same industry segment: US Materials. XME's top 2 sector exposures are Non-Energy Materials and Energy. In contrast, VAW'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 0.09% for VAW. XME is up 15.84% year-to-date (YTD) with +$1.06B in YTD flows. VAW performs worse with 13.31% YTD performance, and -$146M in YTD flows. Run a side-by-side ETF comparison of XME and VAW 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 VAW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XME VAW | +2.00%-1.89% | +1.16%+3.90% | +15.84%+13.31% | +43.20%+13.63% | +137.30%+36.98% | +185.00%+38.75% |
| Flows | XME VAW | +$289M-$18M | -$193M-$48M | +$1.06B-$146M | +$1.60B-$167M | +$1.33B-$667M | +$1.11B-$1.33B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XME VAW | +37.57%+19.84% | +38.06%+19.00% | +31.37%+18.06% | +32.76%+19.86% |
| Max drawdown | XME VAW | -19.06%-6.63% | -26.46%-13.41% | -30.47%-23.20% | -37.25%-25.44% |
| Max drawdown duration | XME VAW | 70d52d | 98d191d | 237d430d | 760d679d |
Trading data
XME | VAW | |
Last sale 9/9/2026 at 1:30 PM | $119.19 | $231.33 |
| Previous close 09/08/2026 | $119.95 | $233.45 |
| 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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XME | VAW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 9/9/2026 at 1:30 PM
Live
Closed
XME | VAW | |
|---|---|---|
| Last price | $119.19 | $231.33 |
| 1D performance | -0.63% | -0.91% |
| AuM | $4.92 B | $3.03 B |
| E/R | 0.35% | 0.09% |
Characteristics
XME | VAW | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Vanguard |
| Benchmark | S&P Metals & Mining Select Industry Index | MSCI US IMI Materials 25/50 Index |
| N° of holdings | 39 | 110 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 19, 2006 | January 26, 2004 |
| ESG | No | No |
Exposure
Countries
XME
USA
98.59%
Other
1.41%
VAW
USA
79.91%
United Kingdom
16.17%
Other
3.92%
Sectors
XME
Non-Energy Materi.
80.69%
Energy
19.25%
Other
0.05%
VAW
Non-Energy Materi.
99%
Other
1%
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Diversification
XME
Total weight of top 15 holdings out of 15
64.8%
VAW
Total weight of top 15 holdings out of 15
66.06%
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%
VAW
Linde Plc
15.08%
Newmont Corp.
6.88%
Freeport-McMoRan, Inc.
6.12%
The Sherwin-Williams Co.
5.45%
Ecolab, Inc.
4.80%
CRH Plc
4.33%
Air Products & Chemicals, Inc.
4.06%
Nucor Corp.
3.89%
Corteva, Inc.
3.59%
Vulcan Materials Co.
2.38%
Steel Dynamics, Inc.
2.35%
Martin Marietta Materials, Inc.
2.15%
PPG Industries, Inc.
1.68%
Amrize Ltd.
1.66%
Smurfit WestRock Plc
1.64%
Frequently asked questions about XME and VAW
How have the XME and VAW ETFs performed in 2026?
As of September 8, 2026, XME is up 15.84% year-to-date (YTD), while VAW has returned 13.31%. That puts XME better performer ahead so far this year.
Which ETF is attracting more investor money: XME or VAW?
Year-to-date, the XME ETF saw +$1.06B in flows, compared to -$146M for VAW.
Which ETF is more volatile: XME or VAW?
Over the past year, XME had a volatility of 38.06%, while VAW experienced 19%.
Which ETF is bigger: XME or VAW?
As of September 8, 2026, XME holds $4.92 B in assets under management (AUM), while VAW manages $3.03 B.
What sectors do the XME and VAW ETFs invest in?
XME leans toward sectors like Non-Energy Materials and Energy. Meanwhile, VAW focuses on Non-Energy Materials.
What are the top holdings of the XME ETF and VAW ETF?
XME top holdings include Centrus Energy Corp., Reliance, Inc. and Nucor Corp.. VAW holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: XME or VAW?
XME holds 39 securities with 64.8% of its assets in the top 15. VAW has 110 securities and a top 15 weight of 66.06%.
Latest news about XME & VAW
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