XMEvsXLBETF Comparison
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State Street SPDR S&P Metals & Mining ETF (XME) and State Street Materials Select Sector SPDR ETF (XLB) belong to the same industry segment: US Materials. XME's top 2 sector exposures are Non-Energy Materials and Energy. In contrast, XLB's top sector exposures are Non-Energy Materials. XME is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.08% for XLB. XME is down -2.07% year-to-date (YTD) with +$727M in YTD flows. XLB performs better with 14.64% YTD performance, and +$1.89B in YTD flows. Run a side-by-side ETF comparison of XME and XLB 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 XLB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/21/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XME XLB | -7.03%+3.18% | -0.25%+2.90% | -2.07%+14.64% | +1.28%+17.88% | +111.70%+45.87% | +140.75%+33.29% |
| Flows | XME XLB | -$277M-$377M | -$41M-$576M | +$727M+$1.89B | +$798M+$1.54B | +$1.02B+$1.19B | +$664M-$148M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XME XLB | +34.46%+16.06% | +36.87%+17.74% | +31.52%+17.29% | +32.76%+19.07% |
| Max drawdown | XME XLB | -18.71%-9.08% | -26.46%-12.34% | -30.47%-23.18% | -37.25%-24.78% |
| Max drawdown duration | XME XLB | 55d56d | 141d177d | 237d445d | 760d679d |
Trading data
XME | XLB | |
Last sale 10/22/2026 at 1:30 PM | $96.59 | $51.69 |
| Previous close 10/21/2026 | $101.29 | $51.32 |
| Consolidated volume 10/21/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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XME | XLB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/22/2026 at 1:30 PM
Live
Closed
XME | XLB | |
|---|---|---|
| Last price | $96.59 | $51.69 |
| 1D performance | -4.64% | +0.72% |
| AuM | $3.84 B | $7.93 B |
| E/R | 0.35% | 0.08% |
Characteristics
XME | XLB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | State Street Investment Management |
| Benchmark | S&P Metals & Mining Select Industry Index | S&P Materials Select Sector Index |
| N° of holdings | 39 | 25 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 19, 2006 | December 16, 1998 |
| ESG | No | No |
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Exposure
Countries
XME
USA
98.59%
Other
1.41%
XLB
USA
78.27%
United Kingdom
15.38%
Other
6.35%
Sectors
XME
Non-Energy Materi.
77.66%
Energy
22.27%
Other
0.07%
XLB
Non-Energy Materi.
99.73%
Other
0.27%
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Diversification
XME
Total weight of top 15 holdings out of 15
65.54%
XLB
Total weight of top 15 holdings out of 15
76.58%
Top 15 holdings
Data as of August 31, 2026
XME
Hecla Mining Co.
5.39%
Newmont Corp.
5.17%
Coeur Mining, Inc.
5.13%
Royal Gold, Inc.
5.05%
Uranium Energy Corp.
4.95%
Freeport-McMoRan, Inc.
4.65%
Warrior Met Coal, Inc.
4.33%
Core Natural Resources, Inc.
4.27%
Centrus Energy Corp.
4.25%
Peabody Energy Corp.
3.91%
MP Materials Corp.
3.90%
Nucor Corp.
3.80%
Reliance, Inc.
3.71%
Cleveland-Cliffs, Inc.
3.54%
Commercial Metals Co.
3.49%
XLB
Linde Plc
13.15%
Newmont Corp.
7.82%
Freeport-McMoRan, Inc.
6.33%
Corteva, Inc.
4.90%
Air Products & Chemicals, Inc.
4.84%
The Sherwin-Williams Co.
4.82%
Ecolab, Inc.
4.76%
Nucor Corp.
4.31%
Vulcan Materials Co.
4.27%
CRH Plc
4.08%
Martin Marietta Materials, Inc.
4.05%
Steel Dynamics, Inc.
3.75%
PPG Industries, Inc.
3.32%
Smurfit WestRock Plc
3.26%
International Flavors & Fragrances, Inc.
2.92%
Frequently asked questions about XME and XLB
How have the XME and XLB ETFs performed in 2026?
As of October 21, 2026, XME is down -2.07% year-to-date (YTD), while XLB has returned 14.64%. That puts XLB better performer ahead so far this year.
Which ETF is attracting more investor money: XME or XLB?
Year-to-date, the XME ETF saw +$727M in flows, compared to +$1.89B for XLB.
Which ETF is more volatile: XME or XLB?
Over the past year, XME had a volatility of 36.87%, while XLB experienced 17.74%.
Which ETF is bigger: XME or XLB?
As of October 21, 2026, XME holds $3.84 B in assets under management (AUM), while XLB manages $7.93 B.
What sectors do the XME and XLB ETFs invest in?
XME leans toward sectors like Non-Energy Materials and Energy. Meanwhile, XLB focuses on Non-Energy Materials.
What are the top holdings of the XME ETF and XLB ETF?
XME top holdings include Hecla Mining Co., Newmont Corp. and Coeur Mining, Inc.. XLB holds in its top three: Linde Plc, Newmont Corp. and Freeport-McMoRan, Inc..
Which ETF is more diversified: XME or XLB?
XME holds 39 securities with 65.54% of its assets in the top 15. XLB has 25 securities and a top 15 weight of 76.58%.
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Latest news about XME & XLB
Investing in Sector ETFs: Energy, Industrials, & Materials
September 6, 2024
XLB
Japan's Nippon Steel Eyes a $14.9 billion Acquisition of U.S. Steel, Offering a 40% Premium
December 26, 2023
XME
Tony's ETF Buyer's Guide: Sector ETFs (Vanguard versus State Street SPDR)
December 1, 2023
XLB
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Trending sub-sectors in 2022
July 12, 2022
XME
Trending sub-sectors in 2022
July 12, 2022
XME
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