Dividend comparison
XLF vs IYF: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street Financial Select Sector SPDR ETF and iShares U.S. Financials ETF, side by side. Updated October 21, 2026.
XLF vs IYF: key differences
The short answer, from the latest data on this page.
- Fees. XLF is cheaper at 0.08% a year versus 0.37% for IYF. On $10,000 that is $29 a year less in fees.
- Income. Their trailing yields are almost the same: 1.48% for XLF and 1.50% for IYF. Both pay quarterly.
- Performance. Over the last 5 years, IYF returned 57.3% versus 50.4% for XLF, with dividends reinvested. $10,000 would have grown to $15,732 in IYF and $15,043 in XLF.
- Risk. Their worst declines over the last 5 years were similar: -25.8% for XLF and -25.1% for IYF from peak to trough.
- Diversification. IYF holds 143 positions and XLF holds 76. The ten largest positions make up 57.7% of XLF and 48.5% of IYF.
- Overlap. 77% of the two portfolios overlap by weight, across 62 shared holdings. Owning both adds little diversification.
- Dividend growth. IYF grew its yearly payout 11.5% a year over the last 4 years, versus 3.1% for XLF.
- Size. XLF is the larger fund with $52.2 billion in assets, against $3.8 billion for IYF.
Bottom line: XLF fits better if you care most about lower fees. IYF fits better if you care most about stronger 5-year returns, faster dividend growth and broader diversification. With 77% overlap, most investors would hold one or the other rather than both.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | XLF State Street Financial Select Sector SPDR ETF | IYF iShares U.S. Financials ETF |
|---|---|---|
| Dividend yield (TTM) | 1.48% | 1.50% |
| Dividend / share (TTM) | $0.83 | $1.95 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.1965 on Sep 23, 2026 | $0.4179 on Sep 18, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | 3.1% over 4 yrs | 11.5% over 4 yrs |
| Price | $55.72 | $129.52 |
| Dividend growth streak | 2 years | 4 years |
| Beta | 0.75 | 0.82 |
| Max drawdown (5Y) | -25.8% | -25.1% |
| Market cap | $51.59B | $3.79B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.08% | 0.37% |
| Assets under management | $52.19B | $3.75B |
| Number of holdings | 76 | 143 |
| Top 10 concentration | 57.7% | 48.5% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
XLF
$12.35/mo
$148 /yr at 1.48% yield
IYF
$12.52/mo
$150 /yr at 1.50% yield
Dividend history
Total dividends paid per share in each calendar year. XLF pays quarterly; IYF pays quarterly.
| Year | XLF | IYF |
|---|---|---|
| 2025 | $0.7197 | $1.7024 |
| 2024 | $0.6869 | $1.4299 |
| 2023 | $0.6415 | $1.4274 |
| 2022 | $0.6990 | $1.4020 |
| 2021 | $0.6360 | $1.1010 |
Strategy: Sector and thematic
Funds that hold a single industry or theme, such as technology, semiconductors, healthcare or energy. Funds covering the same sector can still differ in concentration rules: some cap the largest positions while others let the biggest companies take a quarter of the fund. Sector funds are usually used to tilt a portfolio rather than as its core.
A single sector can fall far further than the broad market and stay down for years, and the largest names often dominate the fund.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $15,043 in XLF and $15,732 in IYF.
| Period | XLF | IYF |
|---|---|---|
| 1 month | 0.11% | -1.71% |
| 3 months | -0.21% | -2.26% |
| Year to date | 2.99% | 1.58% |
| 1 year | 7.24% | 7.10% |
| 3 years | 80.67% | 86.76% |
| 5 years | 50.43% | 57.32% |
- XLF
- IYF
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- XLF
- IYF
XLF vs IYF holdings overlap
77% overlap by weight, with 62 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | XLF weight | IYF weight |
|---|---|---|
| BRK-BBERKSHIRE HATHAWAY INC CL B | 12.77% | 12.45% |
| JPMJPMORGAN CHASE + CO | 11.42% | 11.19% |
| BACBANK OF AMERICA CORP | 4.22% | 3.82% |
| GSGOLDMAN SACHS GROUP INC | 3.28% | 3.60% |
| WFCWELLS FARGO + CO | 3.19% | 3.74% |
| MSMORGAN STANLEY | 2.74% | 3.21% |
| CCITIGROUP INC | 2.63% | 3.28% |
| BLKBLACKROCK INC | 2.09% | 2.76% |
| SCHWSCHWAB (CHARLES) CORP | 1.88% | 2.35% |
| SPGIS+P GLOBAL INC | 1.66% | 2.03% |
Top 10 holdings
Largest positions by portfolio weight.
XLF76 holdings total
Quick verdict
XLF fits better if you care most about lower fees. IYF fits better if you care most about stronger 5-year returns, faster dividend growth and broader diversification. With 77% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how XLF vs IYF fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is XLF or IYF better for dividend income?
It depends on your goals. XLF currently yields 1.48% Trailing Twelve Months (TTM) while IYF yields 1.50%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between XLF and IYF?
State Street Financial Select Sector SPDR ETF (XLF) is an ETF listed on AMEX. iShares U.S. Financials ETF (IYF) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, XLF or IYF?
XLF has the lower expense ratio. XLF charges 0.08% a year and IYF charges 0.37%, a difference of $29 a year on a $10,000 investment.
Which has performed better, XLF or IYF?
Over the last 5 years, IYF has the higher total return with dividends reinvested: XLF returned 50.4% and IYF returned 57.3%. Past performance does not predict future returns.
Which is riskier, XLF or IYF?
Measured by the worst peak-to-trough decline over the last five years, XLF has been riskier: XLF fell as much as 25.8% and IYF as much as 25.1%. Their betas are 0.75 and 0.82.
How much do XLF and IYF overlap?
About 77% of the two portfolios overlap by weight, across 62 shared holdings. The largest shared positions are BRK-B, JPM, BAC. Holding both adds little diversification.
How often do XLF and IYF pay dividends?
Both pay quarterly. The most recent payments were $0.1965 for XLF and $0.4179 for IYF.
How much income does $10,000 in XLF vs IYF generate?
At current TTM yields, $10,000 in XLF would generate roughly $12.35 per month ($148 annually). The same amount in IYF would produce about $12.52 per month ($150 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both XLF and IYF?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare XLF vs IYF with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how XLF and IYF fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.