Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
VWO vs XLB: how they differ
VWO and XLB hold 0% of their weight in the same names, and VWO returned more over the year.
Vanguard Emerging Markets Stock Index Fund and State Street(R) Materials Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, VWO and XLB hold 0% of their money in the same securities at the same weight.
| Only in VWO | Only in XLB |
|---|---|
| Taiwan Semiconductor Manufacturing Co Lt 14.73% | LINDE PLC 12.91% |
| Tencent Holdings Ltd 3.28% | NEWMONT CORP 8.14% |
| Alibaba Group Holding Ltd 2.57% | FREEPORT MCMORAN INC 6.19% |
| Delta Electronics Inc 1.18% | CORTEVA INC 5.11% |
| MediaTek Inc 1.07% | AIR PRODUCTS + CHEMICALS INC 4.78% |
| Reliance Industries Ltd 0.90% | ECOLAB INC 4.75% |
| HDFC Bank Ltd 0.81% | SHERWIN WILLIAMS CO/THE 4.70% |
| Hon Hai Precision Industry Co Ltd 0.75% | NUCOR CORP 4.59% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and Sep 10, 2026.
| VWO Vanguard Emerging Markets Stock Index Fund | XLB State Street(R) Materials Select Sector SPDR(R) ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Vanguard | State Street |
| What it is | Emerging markets | Materials |
| Total return, 1 year | +15.6% | +12.0% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −1.9 pts | −5.5 pts |
| Expense ratio | 0.06% | 0.08% |
| Already in the S&P 500 | 0.0% | 100.0% |
| Holdings | 6355 | 27 |
VWO in plain words
VWO is an index equity fund tracking the Emerging markets. Over the year to Sep 11, 2026 it returned +15.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.06% a year. By its holdings filed for Apr 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 6355 positions, with the top ten at 26.8%.
XLB in plain words
XLB is an index equity fund tracking the Materials. Over the year to Sep 11, 2026 it returned +12.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.08% a year. By its holdings filed for Sep 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 27 positions, with the top ten at 59.4%. It sat 5.1% below its high of Aug 26, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, VWO or XLB?
- In the year to Sep 13, 2026, with distributions reinvested, VWO returned +15.6% and XLB returned +12.0%, so VWO returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, VWO or XLB?
- VWO charges 0.06% a year and XLB charges 0.08%, so VWO is cheaper. Fees come from each fund's prospectus.
- How much do VWO and XLB overlap with the S&P 500?
- By their latest filed holdings, 0% of VWO and 100% of XLB by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, VWO against XLB, data as of Sep 13, 2026. https://etfiq.com/compare/any/vwo-vs-xlb Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources