Data as of Oct 28, 2026.
ITA vs XME: Holdings Overlap & Returns
Over the year to Oct 28, 2026, ITA returned −4.3% to XME's +3.4%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $12.0bn for iShares U.S. Aerospace & Defense ETF and $3.8bn for State Street SPDR S&P Metals & Mining ETF.
81% of ITA's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Oct 27, 2026.
21% of XME's weight is in S&P 500 companies and 79% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
XME costs 0.02 points a year less; their one-year returns differ by 7.7 points; ITA is 3.2 times larger.
Points (pts) are percentage points.
| Measure | ITA | XME |
|---|---|---|
| Return | ||
| Total return, 1 year | −4.3% | +3.4% |
| Drawdown | ||
| Below its all-time high | 17.9%, high on Aug 14, 2026 | 23.6%, high on Jun 2, 2026 |
| Against its benchmark | ||
| What it tracks | Defense | Miners and metals |
| Against the S&P 500, 1 year | behind by 10.3 pts | |
| Its benchmark, total return, 1 year | +13.7% | |
| Against its benchmark, 1 year | behind by 10.3 pts | |
| Cost and size | ||
| Expense ratio | 0.37% | 0.35% |
| Net assets, as of Oct 27, 2026 | $12.0bn | $3.8bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jun 30, 2006 to Oct 23, 2026 · 1,060 weekly returnsITA returned more: +963.5% to +151.1%. ITA swung less: 23.3% to 36.9%. ITA fell less at its worst: −58.8% to −85.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ITA | XME | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +963.5% | +151.1% | ITA | Price change plus distributions, reinvested. |
| Annualized | +12.3% | +4.6% | ITA | Total return as a yearly rate. |
| Price return | +757.5% | +94.8% | ITA | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 23.3% | 36.9% | ITA | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.3% | 25.5% | ITA | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −58.8% | −85.5% | ITA | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.26 | ITA | Return above Treasury bills per unit of volatility. |
| Sortino | 0.78 | 0.38 | ITA | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.21 | 0.05 | ITA | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,060 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ITA and XME hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | ITA | XME | ITA | XME |
| 3 months | −12.0% | +3.9% | not measured | −2.2 pts vs IVV |
| 6 months | −2.4% | −11.5% | not measured | −20.6 pts vs IVV |
| 1 year | −4.3% | +3.4% | not measured | −10.3 pts vs IVV |
| 3 years | +97.8% | +108.2% | not measured | +12.8 pts vs IVV |
| Since launchNot the same days: ITA May 2006 · XME Jun 2006 | +892.2% | +189.8% | not measured | not measured |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
ITA and XME are built for the same job. How do they differ in cost, holdings and results?
- Theme. ITA covers Defense and XME covers Miners and metals.
- Concentration. The top ten holdings are 76.1% of ITA and 53.3% of XME, a gap of 22.8 points.
- What each follows. ITA follows Defense and XME follows Miners and metals.
Data as of Oct 28, 2026.
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ITA
By weight, 81% of ITA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 76% of the fund across 51 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −4.3% with distributions reinvested. It sits 17.9% below its all-time high of Aug 14, 2026.
XME
By weight, 21% of XME's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 53% of the fund across 38 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +3.4% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 10.3 pts. It sits 23.6% below its all-time high of Jun 2, 2026.
Questions people ask
- Do ITA and XME hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
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.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, ITA against XME, data as of Oct 28, 2026. https://etfiq.com/compare/themes/ita-vs-xme
ETFIQ. (Oct 28, 2026). ITA against XME. Retrieved from https://etfiq.com/compare/themes/ita-vs-xme
[ITA against XME (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/ita-vs-xme)
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