Data as of .
METL vs SLX: which is really different?
METL and SLX hold 11% of their weight in the same names, and SLX returned more over the year.
ETFIQ Off-Index Score: SLX scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
11% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, METL and SLX hold 11% of their money in the same securities at the same weight.
| Holding | METL | SLX |
|---|---|---|
| Nucor Corp. | 4.28% | 6.55% |
| Steel Dynamics Inc. | 3.50% | 5.12% |
| Reliance Inc. | 3.25% | 4.66% |
| Only in METL | Only in SLX |
|---|---|
| Hudbay Minerals Inc. 4.30% | Rio Tinto Plc 7.08% |
| Endeavour Silver Corp. 4.06% | Bhp Group Ltd 7.05% |
| Major Drilling Group International Inc. 4.03% | Vale Sa 6.74% |
| NexGen Energy Ltd. 3.66% | Arcelormittal Sa 5.91% |
| Cia de Minas Buenaventura SAA 3.63% | Rio Tinto Ltd 4.74% |
| Cameco Corp. 3.59% | Nippon Steel Corp 4.72% |
| ATALAYA MINING COPPER SA 3.47% | Posco Holdings Inc 4.39% |
| Vizsla Silver Corp. 3.38% | Fortescue Metals Group Ltd 4.38% |
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 Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| METL | SLX | METL | SLX | METL | SLX | |
| 3 months | −4.2% | +0.7% | −6.5 pts | −1.6 pts | −1.8 pts | +3.2 pts |
| 6 months | +10.9% | +23.8% | −7.1 pts | +5.8 pts | −13.3 pts | −0.5 pts |
| 1 year | +32.8% | +48.9% | +16.2 pts | +32.3 pts | +11.0 pts | +27.1 pts |
| 3 years | not published | +72.2% | not published | −6.2 pts | not published | −25.9 pts |
| Since launch | +35.0% | +176.7% | +16.6 pts | −626.8 pts | +10.2 pts | −1513.5 pts |
| METL Sprott Active Metals & Miners ETF Holds 45 stocks in miners and metals, 12% of its weight in S&P 500 companies | SLX VanEck Steel ETF Holds 39 stocks in miners and metals, 12% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Sprott | VanEck |
| Theme | Miners and metals | Miners and metals |
| In the S&P 500 | 12.5% | 12.1% |
| Active share vs the S&P 500 | 99.7% | 99.9% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 45 | 39 |
| Top ten, share of the fund | 37.9% | 58.2% |
| Expense ratio | 0.99% | 0.55% |
| Fee for the differing part | 0.99% | 0.55% |
| Total return, 1 year | +32.8% | +48.9% |
| vs the S&P 500 | +16.2 pts | +32.3 pts |
| vs the Nasdaq-100 | +11.0 pts | +27.1 pts |
| Below its high | −19.4% | −6.6% |
| Net assets | $85m | $167m |
METL in plain words
By weight, 12% of METL'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 38% of the fund across 45 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +32.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 16.2 pts. It sits 19.4% below its all-time high of Jan 28, 2026.
SLX in plain words
By weight, 12% of SLX'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 58% of the fund across 39 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +48.9% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 32.3 pts. It sits 6.6% below its all-time high of Jun 2, 2026.
Questions people ask
- Do METL and SLX hold the same stocks?
- By their latest filings, 11% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, METL or SLX?
- METL has 12% of its weight in S&P 500 names and SLX has 12%, so SLX differs more from the index.
- Which is cheaper, METL or SLX?
- METL charges 0.99% a year and SLX charges 0.55%, so SLX is cheaper. Fees come from each fund's prospectus.
Other comparisons
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, METL against SLX, data as of Sep 18, 2026. https://etfiq.com/compare/themes/metl-vs-slx Free to use with attribution; the underlying files are at Open data.