Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
MTUM vs XLI: how they differ
MTUM and XLI hold 14% of their weight in the same names, and MTUM returned more over the year.
iShares MSCI USA Momentum Factor ETF and State Street(R) Industrial Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, MTUM and XLI hold 14% of their money in the same securities at the same weight.
| Holding | MTUM | XLI |
|---|---|---|
| CATERPILLAR INC. | 3.21% | 8.52% |
| GE VERNOVA INC. | 2.54% | 5.48% |
| GENERAL ELECTRIC COMPANY | 1.90% | 6.77% |
| RTX CORPORATION | 1.46% | 4.44% |
| HOWMET AEROSPACE INC. | 0.96% | 1.87% |
| LOCKHEED MARTIN CORPORATION | 0.75% | 1.79% |
| CUMMINS INC. | 0.67% | 1.71% |
| QUANTA SERVICES, INC. | 0.46% | 1.88% |
| COMFORT SYSTEMS USA, INC. | 0.39% | 1.21% |
| FEDEX CORPORATION | 0.36% | 1.19% |
| VERTIV HOLDINGS CO | 0.35% | 2.23% |
| Northrop Grumman Corporation | 0.33% | 1.18% |
| Only in MTUM | Only in XLI |
|---|---|
| MICRON TECHNOLOGY, INC. 5.57% | Boeing Co/The 2.96% |
| BROADCOM INC. 5.41% | Eaton Corp PLC 2.87% |
| NVIDIA CORPORATION 4.65% | Union Pacific Corp 2.81% |
| ADVANCED MICRO DEVICES, INC. 4.04% | Deere & Co 2.77% |
| INTEL CORPORATION 3.84% | Uber Technologies Inc 2.55% |
| JOHNSON & JOHNSON 3.76% | Parker-Hannifin Corp 2.14% |
| LAM RESEARCH CORPORATION 3.62% | Trane Technologies PLC 1.89% |
| EXXON MOBIL CORPORATION 3.44% | General Dynamics Corp 1.56% |
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 Apr 30, 2026 and Jun 30, 2026.
| MTUM iShares MSCI USA Momentum Factor ETF | XLI State Street(R) Industrial Select Sector SPDR(R) ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | State Street |
| What it is | MSCI USA Momentum Factor | Industrials |
| Total return, 1 year | +21.8% | +14.3% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +4.3 pts | −3.3 pts |
| Expense ratio | 0.15% | 0.08% |
| Already in the S&P 500 | 98.2% | 100.0% |
| Holdings | 125 | 81 |
MTUM in plain words
MTUM is an index equity fund tracking the MSCI USA Momentum Factor. Over the year to Sep 11, 2026 it returned +21.8% 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 Apr 30, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 125 positions, with the top ten at 40.5%. It sat 11.1% below its high of Jun 22, 2026 on Sep 11, 2026.
XLI in plain words
XLI is an index equity fund tracking the Industrials. Over the year to Sep 11, 2026 it returned +14.3% 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 81 positions, with the top ten at 41.4%. It sat 7.6% below its high of Aug 14, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, MTUM or XLI?
- In the year to Sep 12, 2026, with distributions reinvested, MTUM returned +21.8% and XLI returned +14.3%, so MTUM returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, MTUM or XLI?
- MTUM charges 0.15% a year and XLI charges 0.08%, so XLI is cheaper. Fees come from each fund's prospectus.
- How much do MTUM and XLI overlap with the S&P 500?
- By their latest filed holdings, 98% of MTUM and 100% of XLI by weight is stocks the S&P 500 already holds. Between the two funds, 14% 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, MTUM against XLI, data as of Sep 12, 2026. https://etfiq.com/compare/any/MTUM-XLI Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources