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Compare iShares U.S. Aerospace & Defense Index ETF (XAD) vs BMO SPDR Industrials Select Sector Index ETF (ZXLI) to find the best fit for your portfolio. XAD provides Industrials and Non-Energy Materials exposures, while ZXLI is primarily weighted in Industrials, Business Services, and Non-Energy Materials. When evaluating costs, XAD features a management fee (MER) of 0.39%, compared to 0.21% for ZXLI. Performance-wise, XAD has returned 3.32% year-to-date with +$53 M in net flows, whereas ZXLI is at 12.75% with +$16 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
XAD
ZXLI
| AuM | $162.21 M | $24.13 M |
| Management Fees | 0.39% | 0.21% |
| Exp. ratio | 0.43% | 0.21% |
| Tracking Difference | -0.62% | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XAD | -13.38% | -8.10% | +3.32% | +10.11% | - |
ZXLI | -7.57% | -2.01% | +12.75% | +14.28% | - | |
| Flows | XAD | -$3 M | -$4 M | +$53 M | +$77 M | - |
ZXLI | +$1 M | +$1 M | +$16 M | +$17 M | - |
XAD vs ZXLI exposure
Countries
XAD
USA
99.82%
ZXLI
USA
92.91%
Other
7.09%
Sectors
XAD
Industrials
96.32%
ZXLI
Industrials
89.11%
Other
10.89%
As of September 11, 2026
Top 10 Holdings
XAD
GE Aerospace
21.91%
RTX Corp.
17.08%
The Boeing Co.
9.26%
General Dynamics Corp.
4.77%
Howmet Aerospace, Inc.
4.73%
Lockheed Martin Corp.
4.65%
TransDigm Group, Inc.
4.39%
Northrop Grumman Corp.
4.20%
L3Harris Technologies, Inc.
3.62%
Axon Enterprise, Inc.
3.03%
ZXLI
GE Aerospace
6.71%
Caterpillar, Inc.
6.70%
RTX Corp.
5.17%
GE Vernova, Inc.
4.75%
Union Pacific Corp.
3.10%
The Boeing Co.
3.04%
Eaton Corp. Plc
2.88%
Deere & Co.
2.66%
Uber Technologies, Inc.
2.56%
Parker-Hannifin Corp.
2.20%
Diversification
XAD
Total weight of top 10 holdings out of 49 total
77.64%
ZXLI
Total weight of top 10 holdings out of 81 total
39.75%
Characteristics
Compare
XAD
ZXLI
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Dow Jones U.S. Select Aerospace & Defense Index - CAD | S&P Industrial Select Sector Total Return Index - USD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.33% | 1.85% |
| Meets ESG criteria | No | No |
| Inception Date | September 6, 2023 | February 2, 2025 |
Frequently asked questions about XAD and ZXLI
Which ETF has performed better year to date: XAD or ZXLI?
As of September 11, 2026, XAD has returned 3.32% year to date, while ZXLI has returned 12.75%. ZXLI is ahead on YTD performance.
Which ETF is larger by assets under management: XAD or ZXLI?
As of September 11, 2026, XAD manages $162.21 M in assets, while ZXLI manages $24.13 M. XAD is the larger fund by AUM.
How are XAD and ZXLI managed?
XAD is passively managed by iShares. It tracks the Dow Jones U.S. Select Aerospace & Defense Index - CAD benchmark. ZXLI is passively managed by BMO. It tracks the S&P Industrial Select Sector Total Return Index - USD benchmark.
What sectors do XAD and ZXLI emphasize?
XAD is most exposed to Industrials and Non-Energy Materials. ZXLI is most exposed to Industrials, Business Services, and Non-Energy Materials.
Which ETF is attracting more investor flows: XAD or ZXLI?
Year to date, XAD has seen +$53.32 M in net flows, compared with +$16.35 M for ZXLI. XAD has attracted more net investor money so far.
How do the fees of XAD and ZXLI compare?
XAD has an expense ratio of 0.43%, while ZXLI has an expense ratio of 0.21%.
What are the top holdings of XAD and ZXLI?
XAD's largest holdings include GE Aerospace, RTX Corp., and The Boeing Co.. ZXLI's top holdings include GE Aerospace, Caterpillar, Inc., and RTX Corp..
Which ETF is more diversified: XAD or ZXLI?
XAD holds 47 securities, while ZXLI holds 81. On holdings count, ZXLI is the more diversified portfolio.
Recent articles about XAD and ZXLI
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