Data as of Oct 28, 2026.
AIRR vs XLI: Differences, Returns & Fees
Over the year to Oct 28, 2026, AIRR returned −0.2% to XLI's +10.2%, and XLI charges 0.08% to AIRR's 0.69%.
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Net assets on Oct 27, 2026: $8.4bn for First Trust RBA American Industrial Renaissance ETF and $30.8bn for State Street Industrial Select Sector SPDR ETF.
Pair scorecard
XLI costs 0.61 points a year less; their one-year returns differ by 10.4 points; XLI is 3.7 times larger.
| Measure | AIRR | XLI |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.2% | +10.2% |
| Drawdown | ||
| Below its all-time high | 25.5%, high on Jun 22, 2026 | |
| Below its high | 9.4%, high on Aug 14, 2026 | |
| Against its benchmark | ||
| What it tracks | Reshoring and manufacturing | Industrial Select Sector Index |
| Against the S&P 500, 1 year | behind by 13.9 pts | |
| Against its benchmark, 1 year | behind by 13.9 pts | |
| Cost and size | ||
| Expense ratio | 0.69% | 0.08% |
| Net assets, as of Oct 27, 2026 | $8.4bn | $30.8bn |
| Holdings | ||
| Holdings in common | 1% | |
| Top ten holdings, share of the fund | 33% | 37.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Mar 21, 2014 to Oct 23, 2026 · 657 weekly returnsEach against its own benchmark: AIRR against VOO, Mar 21, 2014 to Oct 23, 2026; XLI against SPY, Dec 31, 1998 to Oct 23, 2026.
AIRR returned more: +394.7% to +297.7%. XLI swung less: 19.2% to 25.2%. XLI fell slightly less at its worst: −39.3% to −40.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | AIRR | XLI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +394.7% | +297.7% | AIRR | Price change plus distributions, reinvested. |
| Annualized | +13.5% | +11.5% | AIRR | Total return as a yearly rate. |
| Price return | +380.7% | +218.7% | AIRR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 25.2% | 19.2% | XLI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.7% | 13.3% | XLI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.6% | −39.3% | XLI (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 125.3% | 105.9% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 112.9% | 102.2% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.20 | 1.03 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.60 | 0.79 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.55 | 0.56 | XLI (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.83 | 0.81 | Tie | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.115 | 0.087 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.33 | 0.29 | AIRR | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | SPY | The ETF each fund is measured against. | |
| Alpha | −0.8% a year | +0.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.19 | 0.35 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −9.7% to +8.0% | −2.9% to +4.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.10 | 0.10 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 16.2% | 9.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 657 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, AIRR and XLI hold 1% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
1% in common
Only in one fund ↓
Side by side
AIRR and XLI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
AIRR and XLI do different jobs. What does each one do in a portfolio?
- What each follows. AIRR follows Reshoring and manufacturing and XLI follows Industrial Select Sector Index.
- Holdings in common. 1% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 AIRR returned −0.2% and XLI +10.2% with distributions reinvested, a gap of 10.4 points.
Data as of Oct 28, 2026.
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By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%.
The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.
XLI
XLI tracks an index of Industrials. Over the year to Oct 28, 2026 it returned +10.2% with distributions reinvested, against +13.6% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 84 positions, with the top ten at 37.8%. It sat 9.4% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Are AIRR and XLI in the same category?
- AIRR is a thematic ETF and XLI is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, AIRR or XLI?
- In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and XLI +10.2%.
- Which is cheaper, AIRR or XLI?
- XLI is cheaper, by 0.61 percentage points a year. That is about $61 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, AIRR against XLI, data as of Oct 28, 2026. https://etfiq.com/compare/any/airr-vs-xli
ETFIQ. (Oct 28, 2026). AIRR against XLI. Retrieved from https://etfiq.com/compare/any/airr-vs-xli
[AIRR against XLI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/airr-vs-xli)
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