Data as of .
METL vs XME: which is really different?
METL and XME hold 20% of their weight in the same names, and METL returned more over the year.
ETFIQ Off-Index Score: METL 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
20% 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 XME hold 20% of their money in the same securities at the same weight.
| Holding | METL | XME |
|---|---|---|
| Nucor Corp. | 4.28% | 5.00% |
| Steel Dynamics Inc. | 3.50% | 5.07% |
| Reliance Inc. | 3.25% | 5.12% |
| Uranium Energy Corp. | 2.83% | 4.39% |
| Freeport-McMoRan Inc. | 2.80% | 4.87% |
| MP Materials Corp. | 1.81% | 4.51% |
| Coeur Mining Inc. | 1.14% | 4.88% |
| USA Rare Earth Inc. | 0.54% | 3.33% |
| Only in METL | Only in XME |
|---|---|
| Hudbay Minerals Inc. 4.30% | CLEVELAND CLIFFS INC 5.36% |
| Endeavour Silver Corp. 4.06% | NEWMONT CORP 4.97% |
| Major Drilling Group International Inc. 4.03% | ROYAL GOLD INC 4.93% |
| NexGen Energy Ltd. 3.66% | COMMERCIAL METALS CO 4.85% |
| Cia de Minas Buenaventura SAA 3.63% | HECLA MINING CO 4.71% |
| Cameco Corp. 3.59% | ALCOA CORP 4.54% |
| ATALAYA MINING COPPER SA 3.47% | MATERION CORP 4.51% |
| Vizsla Silver Corp. 3.38% | WARRIOR MET COAL INC 3.49% |
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 | XME | METL | XME | METL | XME | |
| 3 months | −4.2% | −7.1% | −6.5 pts | −9.3 pts | −1.8 pts | −4.6 pts |
| 6 months | +10.9% | +7.0% | −7.1 pts | −11.1 pts | −13.3 pts | −17.3 pts |
| 1 year | +32.8% | +22.4% | +16.2 pts | +5.9 pts | +11.0 pts | +0.7 pts |
| 3 years | not published | +110.4% | not published | +32.0 pts | not published | +12.2 pts |
| Since launch | +35.0% | +149.5% | +16.6 pts | −654.1 pts | +10.2 pts | −1540.8 pts |
| METL Sprott Active Metals & Miners ETF Holds 45 stocks in miners and metals, 12% of its weight in S&P 500 companies | XME State Street(R) SPDR(R) S&P(R) Metals & Mining ETF Holds 41 stocks in miners and metals, 18% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Sprott | State Street |
| Theme | Miners and metals | Miners and metals |
| In the S&P 500 | 12.5% | 18.0% |
| Active share vs the S&P 500 | 99.7% | 99.6% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 45 | 41 |
| Top ten, share of the fund | 37.9% | 46.9% |
| Expense ratio | 0.99% | 0.35% |
| Fee for the differing part | 0.99% | 0.35% |
| Total return, 1 year | +32.8% | +22.4% |
| vs the S&P 500 | +16.2 pts | +5.9 pts |
| vs the Nasdaq-100 | +11.0 pts | +0.7 pts |
| Below its high | −19.4% | −18.1% |
| Net assets | $85m | $4.4bn |
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.
XME in plain words
By weight, 18% 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 47% of the fund across 41 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +22.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 5.9 pts. It sits 18.1% below its all-time high of Jun 2, 2026.
Questions people ask
- Do METL and XME hold the same stocks?
- By their latest filings, 20% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, METL or XME?
- METL has 12% of its weight in S&P 500 names and XME has 18%, so METL differs more from the index.
- Which is cheaper, METL or XME?
- METL charges 0.99% a year and XME charges 0.35%, so XME 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 XME, data as of Sep 18, 2026. https://etfiq.com/compare/themes/metl-vs-xme Free to use with attribution; the underlying files are at Open data.