Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
IWB vs XLF: how they differ
IWB and XLF hold 10% of their weight in the same names, and IWB returned more over the year.
iShares Russell 1000 ETF and State Street(R) Financial Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, IWB and XLF hold 10% of their money in the same securities at the same weight.
| Holding | IWB | XLF |
|---|---|---|
| BERKSHIRE HATHAWAY INC. | 1.34% | 12.10% |
| JPMORGAN CHASE & CO. | 1.26% | 11.57% |
| VISA INC. | 0.82% | 7.51% |
| MASTERCARD INCORPORATED | 0.60% | 5.47% |
| BANK OF AMERICA CORPORATION | 0.54% | 4.91% |
| THE GOLDMAN SACHS GROUP, INC. | 0.42% | 3.94% |
| WELLS FARGO & COMPANY | 0.36% | 3.34% |
| CITIGROUP INC. | 0.34% | 3.15% |
| MORGAN STANLEY | 0.34% | 3.31% |
| AMERICAN EXPRESS COMPANY | 0.26% | 2.38% |
| THE CHARLES SCHWAB CORPORATION | 0.22% | 1.99% |
| BLACKROCK, INC. | 0.21% | 1.83% |
| Only in IWB | Only in XLF |
|---|---|
| NVIDIA CORPORATION 6.73% | Chubb Ltd 1.62% |
| APPLE INC. 6.03% | Aon PLC 0.94% |
| MICROSOFT CORPORATION 4.00% | Arch Capital Group Ltd 0.45% |
| AMAZON.COM, INC. 3.33% | Willis Towers Watson PLC 0.33% |
| ALPHABET INC. 3.00% | Everest Group Ltd 0.19% |
| BROADCOM INC. 2.54% | Invesco Ltd 0.15% |
| ALPHABET INC. 2.42% | Erie Indemnity Co 0.08% |
| MICRON TECHNOLOGY, INC. 1.88% |
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.
| IWB iShares Russell 1000 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 | Russell 1000 | Financials |
| Total return, 1 year | +16.7% | +7.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −0.8 pts | −9.9 pts |
| Expense ratio | 0.15% | 0.08% |
| Already in the S&P 500 | 91.9% | 100.0% |
| Holdings | 1024 | 76 |
IWB in plain words
IWB is an index equity fund tracking the Russell 1000. Over the year to Sep 11, 2026 it returned +16.7% 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, 92% of the fund by weight is stocks the S&P 500 also holds, across 1024 positions, with the top ten at 33.5%.
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, IWB or XLF?
- In the year to Sep 12, 2026, with distributions reinvested, IWB returned +16.7% and XLF returned +7.6%, so IWB returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, IWB or XLF?
- IWB charges 0.15% a year and XLF charges 0.08%, so XLF is cheaper. Fees come from each fund's prospectus.
- How much do IWB and XLF overlap with the S&P 500?
- By their latest filed holdings, 92% of IWB and 100% of XLF by weight is stocks the S&P 500 already holds. Between the two funds, 10% 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, IWB against XLF, data as of Sep 12, 2026. https://etfiq.com/compare/any/IWB-XLF Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources