Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
GARP vs XLF: how they differ
GARP and XLF hold 7% of their weight in the same names, and GARP returned more over the year.
iShares MSCI USA Quality GARP ETF and State Street(R) Financial Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, GARP and XLF hold 7% of their money in the same securities at the same weight.
| Holding | GARP | XLF |
|---|---|---|
| VISA INC | 3.73% | 7.51% |
| MASTERCARD INC | 1.63% | 5.47% |
| CITIGROUP INC | 0.62% | 3.15% |
| CITIZENS FINANCIAL GROUP INC | 0.23% | 0.39% |
| ROBINHOOD MARKETS INC | 0.20% | 1.05% |
| CORPAY INC | 0.16% | 0.29% |
| KKR & CO. INC | 0.15% | 0.84% |
| BLOCK INC | 0.10% | 0.54% |
| ARES MANAGEMENT CORP | 0.06% | 0.31% |
| Only in GARP | Only in XLF |
|---|---|
| KLA CORP 6.46% | Berkshire Hathaway Inc 12.10% |
| MICRON TECHNOLOGY INC 6.07% | JPMorgan Chase & Co 11.57% |
| APPLE INC 4.44% | Bank of America Corp 4.91% |
| NVIDIA CORP 4.16% | Goldman Sachs Group Inc/The 3.94% |
| MICROSOFT CORP 4.10% | Wells Fargo & Co 3.34% |
| BROADCOM INC 3.96% | Morgan Stanley 3.31% |
| LAM RESEARCH CORP 3.79% | American Express Co 2.38% |
| ELI LILLY & COMPANY 3.73% | Charles Schwab Corp/The 1.99% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
| GARP iShares MSCI USA Quality GARP ETF | XLF State Street(R) Financial Select Sector SPDR(R) ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | State Street |
| What it is | MSCI USA Quality GARP | Financials |
| Total return, 1 year | +29.5% | +7.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +12.0 pts | −9.9 pts |
| Expense ratio | 0.15% | 0.08% |
| Already in the S&P 500 | 94.4% | 100.0% |
| Holdings | 131 | 76 |
GARP in plain words
GARP is an index equity fund tracking the MSCI USA Quality GARP. Over the year to Sep 11, 2026 it returned +29.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jun 30, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 43.8%.
XLF in plain words
XLF is an index equity fund tracking the Financials. Over the year to Sep 11, 2026 it returned +7.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.08% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 76 positions, with the top ten at 57.7%.
Questions people ask
- Which returned more over the last year, GARP or XLF?
- In the year to Sep 12, 2026, with distributions reinvested, GARP returned +29.5% and XLF returned +7.6%, so GARP returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, GARP or XLF?
- GARP charges 0.15% a year and XLF charges 0.08%, so XLF is cheaper. Fees come from each fund's prospectus.
- How much do GARP and XLF overlap with the S&P 500?
- By their latest filed holdings, 94% of GARP and 100% of XLF by weight is stocks the S&P 500 already holds. Between the two funds, 7% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, GARP against XLF, data as of Sep 12, 2026. https://etfiq.com/compare/any/GARP-XLF Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources