Data as of .
SLX vs XME: which is really different?
SLX and XME hold 16% 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
16% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, SLX and XME hold 16% of their money in the same securities at the same weight.
| Holding | SLX | XME |
|---|---|---|
| Steel Dynamics Inc | 5.12% | 5.07% |
| Nucor Corp | 6.55% | 5.00% |
| Reliance Steel & Aluminum Co | 4.66% | 5.12% |
| Cleveland-Cliffs Inc | 2.02% | 5.36% |
| Commercial Metals Co | 1.97% | 4.85% |
| Worthington Steel Inc | 0.38% | 0.61% |
| Only in SLX | Only in XME |
|---|---|
| Rio Tinto Plc 7.08% | NEWMONT CORP 4.97% |
| Bhp Group Ltd 7.05% | ROYAL GOLD INC 4.93% |
| Vale Sa 6.74% | COEUR MINING INC 4.88% |
| Arcelormittal Sa 5.91% | FREEPORT MCMORAN INC 4.87% |
| Rio Tinto Ltd 4.74% | HECLA MINING CO 4.71% |
| Nippon Steel Corp 4.72% | ALCOA CORP 4.54% |
| Posco Holdings Inc 4.39% | MP MATERIALS CORP 4.51% |
| Fortescue Metals Group Ltd 4.38% | MATERION CORP 4.51% |
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 | |||
|---|---|---|---|---|---|---|
| SLX | XME | SLX | XME | SLX | XME | |
| 3 months | +0.7% | −7.1% | −1.6 pts | −9.3 pts | +3.2 pts | −4.6 pts |
| 6 months | +23.8% | +7.0% | +5.8 pts | −11.1 pts | −0.5 pts | −17.3 pts |
| 1 year | +48.9% | +22.4% | +32.3 pts | +5.9 pts | +27.1 pts | +0.7 pts |
| 3 years | +72.2% | +110.4% | −6.2 pts | +32.0 pts | −25.9 pts | +12.2 pts |
| Since launch | +176.7% | +149.5% | −626.8 pts | −654.1 pts | −1513.5 pts | −1540.8 pts |
| SLX VanEck Steel ETF Holds 39 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 | VanEck | State Street |
| Theme | Miners and metals | Miners and metals |
| In the S&P 500 | 12.1% | 18.0% |
| Active share vs the S&P 500 | 99.9% | 99.6% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 39 | 41 |
| Top ten, share of the fund | 58.2% | 46.9% |
| Expense ratio | 0.55% | 0.35% |
| Fee for the differing part | 0.55% | 0.35% |
| Total return, 1 year | +48.9% | +22.4% |
| vs the S&P 500 | +32.3 pts | +5.9 pts |
| vs the Nasdaq-100 | +27.1 pts | +0.7 pts |
| Below its high | −6.6% | −18.1% |
| Net assets | $167m | $4.4bn |
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.
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 SLX and XME hold the same stocks?
- By their latest filings, 16% 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, SLX or XME?
- SLX has 12% of its weight in S&P 500 names and XME has 18%, so SLX differs more from the index.
- Which is cheaper, SLX or XME?
- SLX charges 0.55% 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, SLX against XME, data as of Sep 18, 2026. https://etfiq.com/compare/themes/slx-vs-xme Free to use with attribution; the underlying files are at Open data.