Data as of Oct 28, 2026.

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VBR vs XLB: Differences, Returns & Fees

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Over the year to Oct 28, 2026, VBR returned +17.6% to XLB's +18.5%; 3% of their weight is in the same names.

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Net assets: $35.1bn on Sep 30, 2026 for Vanguard Morningstar Small-Cap Value ETF, and $8.1bn on Oct 27, 2026 for State Street Materials Select Sector SPDR ETF.

At a glance
+17.6%
VBR total return, 1 year
+18.5%
XLB total return, 1 year
0.05%
VBR expense ratio
0.08%
XLB expense ratio

Pair scorecard

VBR costs 0.03 points a year less; their one-year returns differ by 0.9 points; VBR is 4.5 times larger.

VBR vs XLB: Differences, Returns & Fees
MeasureVBRXLB
Return
Total return, 1 year+17.6%+18.5%
Drawdown
Below its high3.9%, high on Aug 14, 2026
Benchmark
What it tracksMorningstar US Small Cap Value IndexMaterials Select Sector Index
Cost and size
Expense ratio0.05%0.08%
Net assets, as of Sep 30, 2026$35.1bn$7.8bn
Holdings
Holdings in common3%
Top ten holdings, share of the fund5.9%58.5%

Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method

What they share

3%

By the books each fund has filed, VBR and XLB hold 3% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.

0 half 100%

half

3% in common

Positions both hold · largest shared weight first VBR XLB
Smurfit Westrock PLC 0.53% 3.41%
CF Industries Holdings Inc 0.40% 2.79%
Steel Dynamics Inc 0.34% 4.77%
Ball Corp 0.34% 2.59%
Avery Dennison Corp 0.29% 2.10%
International Flavors & Fragrances Inc 0.23% 3.63%
Dow Inc 0.23% 3.73%
International Paper Co 0.20% 2.70%
LyondellBasell Industries NV 0.17% 2.66%
Mosaic Co 0.16% 0.91%
Albemarle Corp 0.14% 1.78%
Only in one fund ↓
Only in VBR
Moderna Inc 0.79%
Jabil Inc 0.68%
SLCMT1142 0.62%
Williams-Sonoma Inc 0.61%
Atmos Energy Corp 0.60%
F5 Inc 0.57%
Tapestry Inc 0.52%
Tenet Healthcare Corp 0.47%
Only in XLB
LINDE PLC 12.96%
NEWMONT CORP 6.56%
FREEPORT MCMORAN INC 5.23%
ECOLAB INC 4.98%
VULCAN MATERIALS CO 4.89%
NUCOR CORP 4.89%
AIR PRODUCTS + CHEMICALS INC 4.84%
SHERWIN WILLIAMS CO 4.73%
Check overlap with more funds →

Side by side

VBR Vanguard Morningstar Small-Cap Value ETF XLB State Street Materials Select Sector SPDR ETF
Where it sits Stock ETF Stock ETF
What it is Tracks an index of Small-Cap Value Tracks an index of Materials
Total return, 1 year +17.6% +18.5%
Expense ratio 0.05% 0.08%
Already in the S&P 500 30.4% 99.8%
Holdings 822 25
Net assets, VBR as of Sep 30, 2026 and XLB as of Oct 27, 2026 $35.1bn $8.1bn

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

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About each fund
VBR

VBR tracks an index of Small-Cap Value. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 30% of the fund by weight is stocks the S&P 500 also holds, across 822 positions, with the top ten at 5.9%. It sat 3.9% below its high of Aug 14, 2026 on Oct 28, 2026.

XLB

XLB tracks an index of Materials. Over the year to Oct 28, 2026 it returned +18.5% with distributions reinvested. 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 25 positions, with the top ten at 58.5%.

Questions people ask

Which returned more over the last year, VBR or XLB?
In the year to Oct 28, 2026, with distributions reinvested, VBR returned +17.6% and XLB +18.5%.
Which is cheaper, VBR or XLB?
VBR is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do VBR and XLB overlap with the S&P 500?
By their latest filed holdings, 30% of VBR and 100% of XLB by weight is stocks the S&P 500 already holds.
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ETFIQ, VBR against XLB, data as of Oct 28, 2026. https://etfiq.com/compare/any/vbr-vs-xlb

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