State Street Financial Select Sector SPDR ETF
XLF SectorUpdated: Jul 4, 2026, 21:17 UTC
Key Metrics
Top 10 Holdings
| Holding | Ticker | Weight | Bar |
|---|---|---|---|
| Berkshire Hathaway Inc Class B | BRK-B | 11.83% | |
| JPMorgan Chase & Co | JPM | 10.98% | |
| Visa Inc Class A | V | 7.46% | |
| Mastercard Inc Class A | MA | 5.47% | |
| Bank of America Corp | BAC | 4.66% | |
| The Goldman Sachs Group Inc | GS | 4.18% | |
| Morgan Stanley | MS | 3.4% | |
| Wells Fargo & Co | WFC | 3.26% | |
| Citigroup Inc | C | 2.99% | |
| American Express Co | AXP | 2.31% |
Sector Allocation
About This ETF
The State Street Financial Select Sector SPDR ETF (XLF) is a Sector ETF with an expense ratio (TER) of 0.08% and $49.4B in assets under management., with its largest holdings being Berkshire Hathaway Inc Class B, JPMorgan Chase & Co, Visa Inc Class A. The ETF currently yields 1.54% in dividends. Year-to-date, XLF has returned +2.13%. With an expense ratio of just 0.08%, it is one of the cheapest ETFs in its category.
The fund generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies that have been identified as Financial companies by the Global Industry Classification Standard, including securities of companies from the following industries: financial services; insurance; banks; capital markets; mortgage real estate investment trusts; and consumer finance. The fund is non-diversified.
FAQ — XLF
What is the TER of XLF (State Street Financial Select Sector SPDR ETF)?
XLF has a Total Expense Ratio (TER) of 0.08 % per year. That sits at the sector category median (0.08 % across 13 peer ETFs). The TER is deducted directly from the fund and lowers your effective return.
What return has XLF delivered?
Performance for XLF: YTD: +2.13 % · 3-year p.a.: +19.81 % · 5-year p.a.: +10.42 %. Over 5 years, XLF outperforms the sector category median of +6.75 % by +3.67 pp. Past performance is no guarantee of future returns.
What are the top holdings of XLF?
The five largest positions in XLF are: BRK-B, JPM, V, MA, BAC. The full holdings list is updated daily on this page.
Does XLF pay dividends?
XLF has a current dividend yield of 1.54 %. Distributing ETFs pay this out in cash; accumulating versions reinvest it inside the fund. Check the share class on your broker before buying.
Where can I buy or set up a savings plan for XLF?
XLF is available at most major brokers. For a free monthly savings plan from €1, look at Trade Republic, Scalable Capital or Flatex. The broker comparison on this site shows fees, free-savings-plan ETFs and execution exchanges side by side.
What is the Financial Select Sector SPDR ETF (XLF)?
The Financial Select Sector SPDR ETF from State Street bundles the financial companies of the S&P 500 into a single sector fund. With $51.5B in assets and a lean expense ratio of 0.08%, XLF ranks among the largest sector ETFs available. Banks, insurers, payment networks and capital-markets firms such as JPMorgan Chase, Visa and Berkshire Hathaway shape the portfolio. For investors, the fund is a direct instrument to take a targeted position on the U.S. financial sector.
Performance overview
XLF's returns reflect the pronounced cyclicality of the financial sector. Over three years the fund returned 18.89%, and over five years 8.14% — yet year-to-date it shows a loss of 6.18%. These swings are driven mainly by interest-rate levels, the yield curve and the credit cycle: rising rates often improve banks' net interest margins, while recession fears and higher loan losses weigh on returns. The dividend yield stands at 1.52%. The price currently trades at roughly 40.7% of its 52-week range between $47.67 and $56.52.
Risk profile
XLF is a sector fund with pronounced concentration: about 98% of the portfolio sits in financial services. It therefore lacks the diversification of a broad market index — banking crises, tighter regulation or rising loan defaults hit the fund directly. There is also concentration at the top: Berkshire Hathaway (11.66%) and JPMorgan Chase (11.34%) dominate the holdings.
- Interest-rate risk: monetary policy and the yield curve strongly influence earnings.
- Credit risk: economic downturns raise loan defaults.
- Currency risk: the fund is denominated in U.S. dollars; euro-area investors face USD/EUR exchange-rate fluctuations that can amplify or erode returns.
Who is XLF suitable for?
The fund suits investors with a clear view on the U.S. financial sector who want to position deliberately for rising rates, a resilient credit cycle or a recovery in banks. It works as a tactical satellite within an already diversified portfolio, and for investors with a medium to long horizon who can tolerate interim volatility.
XLF is less suitable for beginners seeking a single broadly diversified core holding, or for safety-oriented investors with a short horizon. Those wanting full market coverage are better served by a global or S&P 500 ETF. A concentrated bet on a single sector should always be a conscious decision kept to a limited share of the portfolio.
How XLF compares
Within U.S. financial-sector ETFs, XLF competes with several products from other issuers:
- Vanguard Financials ETF (VFH): covers the financial sector more broadly, including many smaller names alongside the giants.
- iShares U.S. Financials ETF (IYF): also offers broad U.S. financial coverage, traditionally at a somewhat higher expense ratio.
- Invesco KBW Bank ETF (KBWB): focuses exclusively on banks and is therefore even more concentrated.
XLF stands out for high liquidity, $51.5B in assets and a low expense ratio of 0.08%, while remaining oriented toward U.S. large caps.
Where can I buy XLF?
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