Data as of Oct 28, 2026.
VPU vs XLU: Differences, Returns & Fees
Over the year to Oct 28, 2026, VPU returned −3.3% to XLU's −3.0%; 89% of their weight is in the same names.
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Net assets: $7.7bn on Sep 30, 2026 for Vanguard Utilities ETF, and $23.9bn on Oct 27, 2026 for State Street Utilities Select Sector SPDR ETF.
Pair scorecard
XLU costs 0.01 points a year less; their one-year returns differ by 0.3 points; XLU is 2.8 times larger.
| Measure | VPU | XLU |
|---|---|---|
| Return | ||
| Total return, 1 year | −3.3% | −3.0% |
| Drawdown | ||
| Below its high | 8.9%, high on Feb 27, 2026 | 9.1%, high on Feb 27, 2026 |
| Benchmark | ||
| What it tracks | MSCI US Investable Market Index (IMI)/Utilities 25/50 | Utilities Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.08% |
| Net assets, as of Sep 30, 2026 | $7.7bn | $21.3bn |
| Holdings | ||
| Holdings in common | 89% | |
| Top ten holdings, share of the fund | 52.3% | 58.7% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Feb 6, 2004 to Oct 23, 2026 · 1,185 weekly returnsVPU and XLU returned about the same: +683.7% and +688.5%. VPU and XLU swung about the same: 17.6% and 17.7%. VPU and XLU fell about the same at their worst: −44.9% and −45.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VPU | XLU | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +683.7% | +688.5% | Tie | Price change plus distributions, reinvested. |
| Annualized | +9.5% | +9.5% | Tie | Total return as a yearly rate. |
| Price return | +273.2% | +261.4% | VPU (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.6% | 17.7% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.5% | 12.6% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −44.9% | −45.2% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.50 | 0.50 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 0.70 | 0.70 | Tie | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.21 | 0.21 | Tie | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,185 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VPU and XLU hold 89% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
89% in common
Only in one fund ↓
Side by side
VPU and XLU on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VPU and XLU are built for the same job. How do they differ in cost, holdings and results?
- What each follows. VPU follows MSCI US Investable Market Index (IMI)/Utilities 25/50 and XLU follows Utilities Select Sector Index.
- Holdings in common (similar). 89% of the weight is in the same securities (holdings dated Sep 30, 2026 and Oct 27, 2026).
- One-year total return (similar). Over 1 year to Oct 28, 2026 VPU returned −3.3% and XLU −3.0% with distributions reinvested, a gap of 0.3 points.
Data as of Oct 28, 2026.
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VPU
VPU tracks an index of Utilities. Over the year to Oct 28, 2026 it returned −3.3% with distributions reinvested, against −3.3% for its benchmark, the MSCI US Investable Market Index (IMI)/Utilities 25/50. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer as of Sep 30, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 70 positions, with the top ten at 52.3%. It sat 8.9% below its high of Feb 27, 2026 on Oct 28, 2026.
XLU
XLU tracks an index of Utilities. Over the year to Oct 28, 2026 it returned −3.0% 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 32 positions, with the top ten at 58.7%. It sat 9.1% below its high of Feb 27, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VPU or XLU?
- In the year to Oct 28, 2026, with distributions reinvested, VPU returned −3.3% and XLU −3.0%.
- Which is cheaper, VPU or XLU?
- XLU is cheaper, by 0.01 percentage points a year. That is about $1 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, VPU against XLU, data as of Oct 28, 2026. https://etfiq.com/compare/any/vpu-vs-xlu
ETFIQ. (Oct 28, 2026). VPU against XLU. Retrieved from https://etfiq.com/compare/any/vpu-vs-xlu
[VPU against XLU (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vpu-vs-xlu)
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