Data as of Oct 28, 2026.
MOAT vs XLI: Differences, Returns & Fees
Over the year to Oct 28, 2026, MOAT returned +10.3% to XLI's +10.2%; 6% of their weight is in the same names.
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Net assets on Oct 27, 2026: $11.6bn for VanEck Morningstar Wide Moat ETF and $30.8bn for State Street Industrial Select Sector SPDR ETF.
Pair scorecard
XLI costs 0.38 points a year less; their one-year returns differ by 0.1 points; XLI is 2.7 times larger.
| Measure | MOAT | XLI |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.3% | +10.2% |
| Drawdown | ||
| Below its high | 3.7%, high on Aug 27, 2026 | 9.4%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | Morningstar Wide Moat Focus Index | Industrial Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.46% | 0.08% |
| Net assets, as of Oct 27, 2026 | $11.6bn | $30.8bn |
| Holdings | ||
| Holdings in common | 6% | |
| Top ten holdings, share of the fund | 26.5% | 37.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
May 4, 2012 to Oct 23, 2026 · 755 weekly returnsEach against its own benchmark: MOAT against VOO, May 4, 2012 to Oct 23, 2026; XLI against SPY, Dec 31, 1998 to Oct 23, 2026.
MOAT returned more: +559.2% to +490.2%. MOAT swung slightly less: 17.1% to 18.5%. MOAT fell less at its worst: −30.8% to −39.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | MOAT | XLI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +559.2% | +490.2% | MOAT | Price change plus distributions, reinvested. |
| Annualized | +13.9% | +13.0% | MOAT (slight) | Total return as a yearly rate. |
| Price return | +453.0% | +353.5% | MOAT | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.1% | 18.5% | MOAT (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.6% | 12.7% | MOAT (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −30.8% | −39.3% | MOAT | Deepest fall from a high to the low after it. |
| Upside capture | 98.2% | 105.9% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.0% | 102.2% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.98 | 1.03 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.81 | 0.79 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.74 | 0.66 | MOAT | Return above Treasury bills per unit of volatility. |
| Sortino | 1.10 | 0.96 | MOAT | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.130 | 0.087 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.45 | 0.33 | MOAT | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | SPY | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | +0.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.06 | 0.35 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −4.0% to +3.8% | −2.9% to +4.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.05 | 0.10 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 7.6% | 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, 755 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, MOAT and XLI hold 6% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
6% in common
Only in one fund ↓
Side by side
MOAT and XLI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
MOAT and XLI do different jobs. What does each one do in a portfolio?
- What each follows. MOAT follows Morningstar Wide Moat Focus Index and XLI follows Industrial Select Sector Index.
- Holdings in common. 6% of the weight is in the same securities (holdings dated Oct 27, 2026).
- Cost. MOAT charges 0.46% of assets a year and XLI 0.08%, a gap of 0.38 points.
Data as of Oct 28, 2026.
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MOAT
MOAT tracks the Morningstar Wide Moat. Over the year to Oct 28, 2026 it returned +10.3% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.46% 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 54 positions, with the top ten at 26.5%. It sat 3.7% below its high of Aug 27, 2026 on Oct 28, 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
- Which returned more over the last year, MOAT or XLI?
- In the year to Oct 28, 2026, with distributions reinvested, MOAT returned +10.3% and XLI +10.2%.
- Which is cheaper, MOAT or XLI?
- XLI is cheaper, by 0.38 percentage points a year. That is about $38 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, MOAT against XLI, data as of Oct 28, 2026. https://etfiq.com/compare/any/moat-vs-xli
ETFIQ. (Oct 28, 2026). MOAT against XLI. Retrieved from https://etfiq.com/compare/any/moat-vs-xli
[MOAT against XLI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/moat-vs-xli)
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