Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
VOE vs XLI: how they differ
VOE and XLI hold 13% of their weight in the same names, and VOE returned more over the year.
Vanguard Mid-Cap Value Index Fund and State Street(R) Industrial Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, VOE and XLI hold 13% of their money in the same securities at the same weight.
| Holding | VOE | XLI |
|---|---|---|
| Cummins Inc | 1.71% | 1.71% |
| United Rentals Inc | 1.23% | 1.23% |
| PACCAR Inc | 1.10% | 1.10% |
| Delta Air Lines Inc | 1.01% | 1.06% |
| Carrier Global Corp | 1.00% | 0.99% |
| L3Harris Technologies Inc | 0.94% | 0.94% |
| Westinghouse Air Brake Technologies Corp | 0.79% | 0.80% |
| United Airlines Holdings Inc | 0.77% | 0.77% |
| Norfolk Southern Corp | 0.61% | 1.23% |
| FedEx Corp | 0.58% | 1.19% |
| Dover Corp | 0.52% | 0.52% |
| Rockwell Automation Inc | 0.48% | 0.96% |
| Only in VOE | Only in XLI |
|---|---|
| Valero Energy Corp 1.34% | Caterpillar Inc 8.52% |
| Marathon Petroleum Corp 1.29% | General Electric Co 6.77% |
| CRH PLC 1.24% | GE Vernova Inc 5.48% |
| General Motors Co 1.21% | RTX Corp 4.44% |
| SLB Ltd 1.21% | Boeing Co/The 2.96% |
| Simon Property Group Inc 1.20% | Eaton Corp PLC 2.87% |
| Phillips 66 1.18% | Union Pacific Corp 2.81% |
| Warner Bros Discovery Inc 1.10% | Deere & Co 2.77% |
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.
| VOE Vanguard Mid-Cap Value Index Fund | XLI State Street(R) Industrial Select Sector SPDR(R) ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Vanguard | State Street |
| What it is | Mid-Cap Value | Industrials |
| Total return, 1 year | +20.2% | +14.3% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +2.7 pts | −3.3 pts |
| Expense ratio | 0.05% | 0.08% |
| Already in the S&P 500 | 96.6% | 100.0% |
| Holdings | 170 | 81 |
VOE in plain words
VOE is an index equity fund tracking the Mid-Cap Value. Over the year to Sep 11, 2026 it returned +20.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.05% a year. By its holdings filed for Jun 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 12.7%.
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, VOE or XLI?
- In the year to Sep 12, 2026, with distributions reinvested, VOE returned +20.2% and XLI returned +14.3%, so VOE returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, VOE or XLI?
- VOE charges 0.05% a year and XLI charges 0.08%, so VOE is cheaper. Fees come from each fund's prospectus.
- How much do VOE and XLI overlap with the S&P 500?
- By their latest filed holdings, 97% of VOE and 100% of XLI by weight is stocks the S&P 500 already holds. Between the two funds, 13% 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, VOE against XLI, data as of Sep 12, 2026. https://etfiq.com/compare/any/VOE-XLI Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources