Data as of Oct 28, 2026.
VOE vs XLB: Differences, Returns & Fees
Over the year to Oct 28, 2026, VOE returned +22.8% to XLB's +18.5%; 6% of their weight is in the same names.
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Net assets: $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF, and $8.1bn on Oct 27, 2026 for State Street Materials Select Sector SPDR ETF.
Pair scorecard
VOE costs 0.03 points a year less; their one-year returns differ by 4.3 points; VOE is 2.9 times larger.
| Measure | VOE | XLB |
|---|---|---|
| Return | ||
| Total return, 1 year | +22.8% | +18.5% |
| Benchmark | ||
| What it tracks | Morningstar US Mid Cap Value Index | Materials Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.05% | 0.08% |
| Net assets, as of Sep 30, 2026 | $22.8bn | $7.8bn |
| Holdings | ||
| Holdings in common | 6% | |
| Top ten holdings, share of the fund | 14.0% | 58.5% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, VOE and XLB hold 6% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
6% in common
Only in one fund ↓
Side by side
VOE and XLB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
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, VOE or XLB?
- In the year to Oct 28, 2026, with distributions reinvested, VOE returned +22.8% and XLB +18.5%.
- Which is cheaper, VOE or XLB?
- VOE 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.
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, VOE against XLB, data as of Oct 28, 2026. https://etfiq.com/compare/any/voe-vs-xlb
ETFIQ. (Oct 28, 2026). VOE against XLB. Retrieved from https://etfiq.com/compare/any/voe-vs-xlb
[VOE against XLB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/voe-vs-xlb)
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