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Data as of Oct 28, 2026.

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IWB vs XLI: Differences, Returns & Fees

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Over the year to Oct 28, 2026, IWB returned +13.1% to XLI's +10.2%; 7% of their weight is in the same names.

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Net assets: $49.1bn on Oct 28, 2026 for iShares Russell 1000 ETF, and $30.8bn on Oct 27, 2026 for State Street Industrial Select Sector SPDR ETF.

IWB on its own →XLI on its own →
At a glance
+13.1%
IWB total return, 1 year
+10.2%
XLI total return, 1 year
0.15%
IWB expense ratio
0.08%
XLI expense ratio

Pair scorecard

XLI costs 0.07 points a year less; their one-year returns differ by 2.9 points; IWB is 1.6 times larger.

IWB vs XLI: Differences, Returns & Fees
MeasureIWBXLI
Return
Total return, 1 year+13.1%+10.2%
Drawdown
Below its high9.4%, high on Aug 14, 2026
Benchmark
What it tracksRussell 1000 IndexIndustrial Select Sector Index
Cost and size
Expense ratio0.15%0.08%
Net assets, as of Oct 26, 2026$48.7bn$30.5bn
Holdings
Holdings in common7%
Top ten holdings, share of the fund35.3%37.8%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

7%

By the books each fund has filed, IWB and XLI hold 7% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

7% in common

Positions both hold · largest shared weight first IWB XLI
CATERPILLAR INC 0.46% 6.14%
GE AEROSPACE 0.43% 5.79%
RTX 0.37% 4.91%
GE VERNOVA 0.34% 4.47%
UNION PACIFIC 0.25% 3.34%
DEERE 0.22% 3.01%
EATON PLC 0.21% 2.79%
BOEING 0.18% 2.49%
LOCKHEED MARTIN 0.18% 2.37%
UBER TECHNOLOGIES 0.18% 2.52%
AUTOMATIC DATA PROCESSING INC 0.16% 2.18%
PARKER-HANNIFIN 0.16% 2.13%
Only in one fund ↓
Only in IWB
NVIDIA 7.15%
APPLE 7.06%
MICROSOFT 5.56%
AMAZON.COM INC 3.46%
ALPHABET CLASS A 2.63%
BROADCOM INC 2.24%
ALPHABET CLASS C 2.12%
META PLATFORMS CLASS A 1.92%
Only in XLI
INGERSOLL RAND INC 0.49%
XAI EMINI INDUSTR DEC26 -0.00%
Check overlap with more funds →

Side by side

IWB iShares Russell 1000 ETF XLI State Street Industrial Select Sector SPDR ETF
Where it sits Stock ETF Stock ETF
Issuer iShares State Street
What it is Tracks the Russell 1000 Tracks an index of Industrials
Total return, 1 year +13.1% +10.2%
Its benchmark over the same days +13.2% (VONE) +13.6% (SPY)
Gap to its benchmark −0.1 pts vs VONE −3.4 pts vs SPY
Expense ratio 0.15% 0.08%
Already in the S&P 500 91.7% 99.9%
Holdings 1025 84
Net assets, IWB as of Oct 28, 2026 and XLI as of Oct 27, 2026 $49.1bn $30.8bn

IWB and XLI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
IWB

IWB tracks the Russell 1000. Over the year to Oct 28, 2026 it returned +13.1% with distributions reinvested, against +13.2% for its benchmark, the Russell 1000 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 1,025 positions, with the top ten at 35.3%.

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

Which returned more over the last year, IWB or XLI?
In the year to Oct 28, 2026, with distributions reinvested, IWB returned +13.1% and XLI +10.2%.
Which is cheaper, IWB or XLI?
XLI is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do IWB and XLI overlap with the S&P 500?
By their latest filed holdings, 92% of IWB and 100% of XLI by weight is stocks the S&P 500 already holds.
Other comparisons
IWB vs XLCIWB vs XLFIWB vs XLPIWB vs SCHHUSMV vs XLIQUAL vs XLISCHB vs XLISCHX vs XLI
Where to next
IWB on its own →XLI on its own →Hold both: look the portfolio through →Rankings →IWB dividend history →IWB holdings →XLI dividend history →XLI holdings →Standards and sources →
Sources and dates
IWB filings on SEC EDGAR ↗
IWB prospectus with the expense ratio (SEC) ↗
iShares page for IWB ↗
XLI filings on SEC EDGAR ↗
XLI prospectus with the expense ratio (SEC) ↗
State Street website ↗

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, IWB against XLI, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwb-vs-xli

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.