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. 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 0.09% for VAW. XME is down -1.68% year-to-date (YTD) with +$696M in YTD flows. VAW performs better with 10.04% YTD performance, and -$115M 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 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XME VAW | -5.11%-1.31% | -13.53%-3.62% | -1.68%+10.04% | +32.28%+13.68% | +98.28%+28.60% | +145.99%+37.31% |
| Flows | XME VAW | -$367M-$27M | -$657M-$39M | +$696M-$115M | +$1.10B-$180M | +$827M-$672M | +$713M-$1.29B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XME VAW | +40.01%+20.97% | +36.45%+18.66% | +30.59%+17.88% | +32.62%+19.81% |
| Max drawdown | XME VAW | -26.34%-6.63% | -26.34%-13.41% | -30.47%-23.20% | -37.25%-25.44% |
| Max drawdown duration | XME VAW | 52d38d | 52d145d | 237d430d | 760d679d |
Trading data
XME | VAW | |
Last sale 7/27/2026 at 1:30 PM | $103.11 | $227.39 |
| Previous close 07/24/2026 | $101.74 | $226.79 |
| 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 | VAW | |
|---|---|---|
| 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 | VAW | |
|---|---|---|
| Last price | $103.11 | $227.39 |
| 1D performance | +1.35% | +0.26% |
| AuM | $3.86 B | $2.97 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 | 111 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 19, 2006 | January 26, 2004 |
| ESG | No | No |
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Exposure
Countries
XME
USA
97.88%
Other
2.12%
VAW
USA
78.25%
United Kingdom
16.58%
Other
5.17%
Sectors
XME
Non-Energy Materi.
79.72%
Energy
19.49%
Other
0.79%
VAW
Non-Energy Materi.
97.59%
Other
2.41%
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Diversification
XME
Total weight of top 15 holdings out of 15
62.75%
VAW
Total weight of top 15 holdings out of 15
65.49%
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%
VAW
Linde Plc
15.69%
Newmont Corp.
6.58%
Freeport-McMoRan, Inc.
5.90%
The Sherwin-Williams Co.
5.28%
CRH Plc
4.67%
Ecolab, Inc.
4.62%
Air Products & Chemicals, Inc.
3.87%
Corteva, Inc.
3.71%
Nucor Corp.
3.23%
Vulcan Materials Co.
2.51%
Martin Marietta Materials, Inc.
2.27%
Steel Dynamics, Inc.
2.06%
PPG Industries, Inc.
1.77%
Amrize Ltd.
1.73%
Smurfit WestRock Plc
1.58%
Frequently asked questions about XME and VAW
How have the XME and VAW ETFs performed in 2026?
As of July 24, 2026, XME is down -1.68% year-to-date (YTD), while VAW has returned 10.04%. That puts VAW better performer ahead so far this year.
Which ETF is attracting more investor money: XME or VAW?
Year-to-date, the XME ETF saw +$696M in flows, compared to -$115M for VAW.
Which ETF is more volatile: XME or VAW?
Over the past year, XME had a volatility of 36.45%, while VAW experienced 18.66%.
Which ETF is bigger: XME or VAW?
As of July 24, 2026, XME holds $3.86 B in assets under management (AUM), while VAW manages $2.97 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 Uranium Energy Corp., Hecla Mining Co. and Centrus Energy 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 62.75% of its assets in the top 15. VAW has 111 securities and a top 15 weight of 65.49%.
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Latest news about XME & VAW
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December 26, 2023
XME
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VAW
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July 12, 2022
XME
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