State Street Financial Select Sector SPDR ETF (XLF)

Market Price (9/12/2026): $57.29

State Street Financial Select Sector SPDR ETF (XLF)

Market Price (9/12/2026): $57.29

Key Takeaways

XLF has returned +5.1% YTD vs +12.4% for SPY; +7.2% over the past 12 months (SPY +17.2%). details →
Priced in gold, XLF has returned -24.7% over the past 3 years, vs +72.4% in dollars — its dollar gains have lagged gold. details →
Over the past month, XLF has seen net outflows of −$2.66B (−4.8% of assets). details →
XLF's portfolio trades at 14.8x forward earnings — a 101% premium to SPY (7.4x). details →
Analysts expect +5% revenue growth across XLF's holdings (next fiscal year) vs +13% for SPY; expected earnings growth: +7% vs +18%. details →

Last updated: 9/11/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with XLF

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+11.0%

Volatility

12.5%

Sharpe

0.67

YTD

+4.7%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	XLF	25.0%	0.7%	-2.2%	-1.2%	5.1%
Bond	BND	50.0%	-0.1%	-1.0%	-1.1%	-1.2%
Gold	GLD	10.0%	0.6%	-2.8%	-1.5%	0.6%
Commodity	DBC	2.5%	0.0%	5.2%	11.7%	50.4%
Real Estate	VNQ	5.0%	0.7%	-1.9%	-2.6%	9.2%
Bitcoin	BTCUSD	0.0%	0.4%	-5.4%	21.3%	-12.1%
Cash	GOVT	7.5%	-0.1%	-0.9%	-1.3%	-1.7%
Conservative Portfolio		100.0%	0.2%	-1.4%	-0.9%	2.3%

	ETF	%	1D	1W	1M	YTD
Equity	XLF	55.0%	0.7%	-2.2%	-1.2%	5.1%
Bond	BND	25.0%	-0.1%	-1.0%	-1.1%	-1.2%
Gold	GLD	7.0%	0.6%	-2.8%	-1.5%	0.6%
Commodity	DBC	4.0%	0.0%	5.2%	11.7%	50.4%
Real Estate	VNQ	5.0%	0.7%	-1.9%	-2.6%	9.2%
Bitcoin	BTCUSD	2.0%	0.4%	-5.4%	21.3%	-12.1%
Cash	GOVT	2.0%	-0.1%	-0.9%	-1.3%	-1.7%
Moderate Portfolio		100.0%	0.4%	-1.7%	-0.3%	4.7%

	ETF	%	1D	1W	1M	YTD
Equity	XLF	80.0%	0.7%	-2.2%	-1.2%	5.1%
Bond	BND	5.0%	-0.1%	-1.0%	-1.1%	-1.2%
Gold	GLD	3.0%	0.6%	-2.8%	-1.5%	0.6%
Commodity	DBC	2.2%	0.0%	5.2%	11.7%	50.4%
Real Estate	VNQ	4.5%	0.7%	-1.9%	-2.6%	9.2%
Bitcoin	BTCUSD	5.2%	0.4%	-5.4%	21.3%	-12.1%
Cash	GOVT	0.0%	-0.1%	-0.9%	-1.3%	-1.7%
Aggressive Portfolio		100.0%	0.6%	-2.2%	0.2%	4.9%

	ETF	%	Return	Volatility	Sharpe
Equity	XLF	25.0%	13.2%	19.3%	0.59
Bond	BND	50.0%	1.3%	5.2%	-0.27
Gold	GLD	10.0%	12.3%	15.3%	0.65
Commodity	DBC	2.5%	8.9%	17.4%	0.41
Real Estate	VNQ	5.0%	4.7%	17.5%	0.19
Bitcoin	BTCUSD	0.0%	63.2%	76.3%	0.96
Cash	GOVT	7.5%	0.3%	4.9%	-0.49
Conservative Portfolio		100.0%	6.0%	7.4%	0.45

	ETF	%	Return	Volatility	Sharpe
Equity	XLF	55.0%	13.2%	19.3%	0.59
Bond	BND	25.0%	1.3%	5.2%	-0.27
Gold	GLD	7.0%	12.3%	15.3%	0.65
Commodity	DBC	4.0%	8.9%	17.4%	0.41
Real Estate	VNQ	5.0%	4.7%	17.5%	0.19
Bitcoin	BTCUSD	2.0%	63.2%	76.3%	0.96
Cash	GOVT	2.0%	0.3%	4.9%	-0.49
Moderate Portfolio		100.0%	11.0%	12.5%	0.67

	ETF	%	Return	Volatility	Sharpe
Equity	XLF	80.0%	13.2%	19.3%	0.59
Bond	BND	5.0%	1.3%	5.2%	-0.27
Gold	GLD	3.0%	12.3%	15.3%	0.65
Commodity	DBC	2.2%	8.9%	17.4%	0.41
Real Estate	VNQ	4.5%	4.7%	17.5%	0.19
Bitcoin	BTCUSD	5.2%	63.2%	76.3%	0.96
Cash	GOVT	0.0%	0.3%	4.9%	-0.49
Aggressive Portfolio		100.0%	15.7%	17.8%	0.75

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLF	25.0%	-23.4%	-40.2%	-22.2%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	-15.6%	-14.1%	-5.3%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLF	55.0%	-23.4%	-40.2%	-22.2%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	-19.0%	-26.7%	-13.5%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLF	80.0%	-23.4%	-40.2%	-22.2%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	-23.5%	-36.6%	-20.4%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

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Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

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[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	9/30/27	9/12/26	2025	2024	2023	2022	2021
Share Price CYE		$57.25	$54.49	$47.42	$36.32	$32.42	$36.26
Dividend/Share TTM		$0.62	$0.72	$0.69	$0.64	$0.70	$0.64
Valuation [1]
P/S	3.50	3.66	3.81	3.59	2.95	3.14	3.56
P/E		16.15	18.07	16.36	14.69	15.79	13.42
P/E (Non-GAAP) [2]	15.05	16.59	18.28	18.42	14.98	13.65	19.24
P/FCF		18.75	25.20	30.10	14.02	11.69	16.70
Yields TTM
Earnings Yield	6.65%	6.19%	5.53%	6.11%	6.81%	6.33%	7.45%
Dividend Yield	1.08%	1.08%	1.32%	1.45%	1.77%	2.15%	1.76%
Total Yield (TY)	7.73%	7.28%	6.85%	7.56%	8.57%	8.48%	9.21%
Risk Premium [3]
Risk Free Rate (Rf)	4.95%	4.95%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	2.78%	2.33%	2.67%	2.98%	4.69%	4.60%	7.69%
Growth Rates [6]
Sales Growth	5.2%	6.1%	6.1%	6.2%	19.6%	-6.3%
Earnings Growth [7]	7.4%	15.3%	4.5%	17.7%	57.9%	-48.3%

[1] P/E uses the aggregate method over profitable constituents; P/FCF aggregates net free cash flow across all constituents (negative-FCF names reduce it); P/S uses all constituents. Ratios reflect current ETF holdings at current weights. P/FCF has no Forward column (no analyst FCF estimate).
[2] P/E (Non-GAAP) uses analyst consensus net income (adjusted basis) for all periods. The standard P/E row above uses GAAP net income.
[3] The premium above the risk free rate (US 10Y) offered by the investment. Negative premiums can indicate stretched valuations.
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Highlights

YIELD

XLF's earnings yield is 6.19%, based on its 16.1x trailing P/E. With a 1.08% dividend yield, XLF is yielding 7.28% in total.

RISK

Compared to US Treasuries at 4.95%, XLF's total yield implies a reasonable 2.33% risk premium. Risk premiums at this level suggest valuations are not excessive.

FORWARD EXPECTATIONS

Based on analyst estimates, XLF's forward total yield is 7.73%, implying a 2.78% risk premium assuming stable Treasury rates.

Top 20 Holdings for XLF

Total Weights
Top 5: 41.7% | Top 10: 57.2% | Top 20: 72.6%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.84%	100.00%	100.00%	3.3	14.8	+5.2%	+7.4%
Top 20		72.56%	61.90%	72.15%	3.8	15.7	+4.7%	+7.0%
JPM	JPMorgan Chase	11.81%	8.19%	12.68%	4.5	13.7	+2.7%	-0.5%
BRK-B	Berkshire Hathaway	11.55%	15.68%	14.23%	2.7	23.0	+1.6%	+0.0%
V	Visa	7.58%	1.65%	3.88%	13.7	23.7	+10.8%	+16.6%
MA	Mastercard	5.69%	1.35%	2.91%	12.3	25.1	+12.6%	+18.3%
BAC	Bank of America	5.09%	4.68%	6.03%	3.5	11.5	+5.3%	+11.3%
GS	Goldman Sachs	3.77%	2.75%	4.05%	4.2	14.3	+2.6%	+1.1%
WFC	Wells Fargo	3.41%	3.67%	4.43%	3.0	11.0	+4.4%	+10.0%
MS	Morgan Stanley	3.21%	2.40%	3.07%	3.9	16.1	+5.6%	+2.7%
C	Citigroup	2.92%	3.84%	3.49%	2.4	10.2	+3.8%	+16.7%
SCHW	Charles Schwab	2.16%	1.03%	1.86%	6.0	14.9	+12.9%	+15.3%
AXP	American Express	2.13%	2.50%	1.75%	2.6	16.2	+9.0%	+14.2%
BLK	BlackRock	1.92%	1.07%	1.19%	5.3	16.6	+11.8%	+12.9%
COF	Capital One Financial	1.63%	2.66%	2.10%	1.9	10.4	+6.1%	+16.8%
SPGI	S&P Global	1.58%	0.71%	1.01%	7.9	20.1	+5.3%	+13.7%
PGR	Progressive	1.57%	3.83%	2.28%	1.4	13.0	+5.4%	-10.4%
CB	Chubb	1.51%	2.45%	2.04%	2.1	12.0	+8.4%	+1.4%
BNY	Bank of New York Mellon	1.39%	0.89%	1.24%	4.9	15.9	+4.5%	+10.8%
CME	CME	1.24%	0.29%	0.84%	13.6	21.8	+5.1%	+4.3%
PNC	PNC Financial Services	1.20%	1.02%	1.47%	3.6	12.1	+5.1%	+12.4%
USB	U.S. Bancorp	1.20%	1.24%	1.58%	3.0	11.2	+6.7%	+8.2%

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 9/30/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 9/30/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for XLF Top Holdings

Ticker	Holding	Weight	Mkt Price 9/11	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
XLF	State Street Financial Select Sector SPDR ETF	100.00%	57.25	0.7%	-1.2%	5.1%	7.2%	72.4%	65.5%	254.1%
JPM	JPMorgan Chase	11.81%	356.23	0.8%	-2.5%	12.1%	18.8%	160.0%	156.5%	596.4%
BRK-B	Berkshire Hathaway	11.55%	510.37	0.7%	0.1%	1.5%	2.7%	38.8%	83.9%	249.0%
V	Visa	7.58%	370.45	0.9%	3.1%	6.3%	8.7%	53.3%	71.1%	385.4%
MA	Mastercard	5.69%	569.19	0.7%	1.7%	0.2%	-2.7%	39.2%	68.8%	507.4%
BAC	Bank of America	5.09%	62.69	0.2%	-2.8%	15.8%	26.2%	132.5%	75.9%	398.5%
GS	Goldman Sachs	3.77%	1,029.18	0.9%	-0.3%	18.8%	33.7%	232.5%	187.9%	657.9%
WFC	Wells Fargo	3.41%	90.29	0.9%	1.5%	-1.5%	13.5%	128.3%	130.1%	153.2%
MS	Morgan Stanley	3.21%	214.38	0.8%	-1.5%	22.7%	40.1%	174.7%	142.6%	802.8%
C	Citigroup	2.92%	138.82	0.2%	0.9%	20.8%	43.4%	265.1%	136.7%	299.7%
SCHW	Charles Schwab	2.16%	107.25	-0.1%	-1.6%	8.4%	15.6%	84.7%	61.0%	301.6%
AXP	American Express	2.13%	324.69	1.2%	-5.6%	-11.5%	-0.4%	112.1%	117.4%	478.9%
BLK	BlackRock	1.92%	1,079.65	1.6%	-6.5%	2.5%	-2.8%	65.5%	33.0%	282.6%
COF	Capital One Financial	1.63%	208.30	0.6%	-6.0%	-13.0%	-5.7%	115.9%	47.0%	250.0%
SPGI	S&P Global	1.58%	410.71	0.1%	0.4%	-16.7%	-20.8%	14.3%	0.2%	287.8%
PGR	Progressive	1.57%	217.62	0.7%	4.9%	1.7%	-6.9%	71.7%	161.2%	825.0%
CB	Chubb	1.51%	338.25	0.2%	-1.2%	9.4%	21.5%	69.6%	102.7%	223.1%
BNY	Bank of New York Mellon	1.39%	162.66	0.0%	-0.2%	41.9%	56.7%	285.6%	258.9%	415.2%
CME	CME	1.24%	275.54	0.5%	5.6%	4.3%	9.1%	51.9%	79.6%	275.6%
PNC	PNC Financial Services	1.20%	244.24	0.5%	-4.4%	19.8%	24.4%	118.6%	53.1%	276.8%
USB	U.S. Bancorp	1.20%	62.84	0.7%	-3.4%	20.0%	32.5%	94.1%	41.0%	110.0%

Guidance Updates for XLF Top Holdings

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
XLF Return	35%	-11%	12%	31%	15%	4%	111%
Peers Return	33%	-0%	26%	15%	18%	24%	181%
S&P 500 Return	27%	-19%	24%	23%	16%	11%	102%
Monthly Win Rates [3]
XLF Win Rate	58%	42%	50%	67%	67%	44%
Peers Win Rate	73%	42%	62%	62%	63%	47%
S&P 500 Win Rate	75%	42%	67%	75%	67%	44%
Max Drawdowns [4]
XLF Max Drawdown	-8%	-26%	-16%	-7%	-16%	-15%
Peers Max Drawdown	-11%	-26%	-13%	-14%	-21%	-14%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VGT, XLK, XLV, XLE, XLI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/11/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
XLF	0.32	0.99	0.42
Equity Top Results (3Y)
IALT	2.08	2.08	2.08
VLUE	2.53	1.42	0.74
SPMO	0.94	1.37	0.79
CORO	1.35	1.33	1.33
CGDV	1.28	1.31	0.94

Results as of 8312026.

Event	XLF	S&P 500
2025 US Tariff Shock
% Loss	-15.5%	-18.8%
% Gain to Breakeven	18.4%	23.1%
Time to Breakeven	80 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-10.7%	-9.5%
% Gain to Breakeven	12.0%	10.5%
Time to Breakeven	26 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-16.1%	-6.7%
% Gain to Breakeven	19.1%	7.1%
Time to Breakeven	270 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-22.3%	-24.5%
% Gain to Breakeven	28.6%	32.4%
Time to Breakeven	467 days	427 days
2020 COVID-19 Crash
% Loss	-42.8%	-33.7%
% Gain to Breakeven	74.8%	50.9%
Time to Breakeven	289 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-19.7%	-19.2%
% Gain to Breakeven	24.5%	23.8%
Time to Breakeven	123 days	105 days

Compare to VGT, XLK, XLV, XLE, XLI

In The Past

State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	XLF	S&P 500
2022 Inflation Shock & Fed Tightening
% Loss	-22.3%	-24.5%
% Gain to Breakeven	28.6%	32.4%
Time to Breakeven	467 days	427 days
2020 COVID-19 Crash
% Loss	-42.8%	-33.7%
% Gain to Breakeven	74.8%	50.9%
Time to Breakeven	289 days	140 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-21.4%	-12.2%
% Gain to Breakeven	27.3%	13.9%
Time to Breakeven	272 days	62 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-26.1%	-17.9%
% Gain to Breakeven	35.3%	21.8%
Time to Breakeven	162 days	123 days
2008-2009 Global Financial Crisis
% Loss	-78.3%	-53.4%
% Gain to Breakeven	359.8%	114.4%
Time to Breakeven	2329 days	1085 days

Compare to VGT, XLK, XLV, XLE, XLI

In The Past

State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

XLF Dip Buy History

XLF had 22 events since 1/1/2005 where the dip threshold of -5.0% within 60 days was triggered

21% median peak return within 1 year of dip event
262 days is the median time to peak return after a dip event
-7.2% median max drawdown within 1 year of dip event

60 Day Dip			XLF Subsequent Performance
Date	XLF	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			17%	21%	-7%	262
3062026	-5%	-1%			-5%	181
4042025	-8%	-14%	17%	29%	-1%	277
10122023	-5%	-4%	44%	44%	-5%	368
3102023	-5%	-3%	26%	26%	-6%	368
3072022	-8%	-10%	-0%	11%	-14%	18
1212022	-5%	-4%	-4%	7%	-20%	19
9012020	-5%	10%	55%	58%	-7%	360
2272020	-9%	-5%	21%	26%	-35%	363
10112018	-5%	-3%	7%	10%	-15%	288
4112018	-6%	-5%	-1%	6%	-17%	162
5172017	-6%	0%	24%	32%	0%	254
6272016	-5%	-3%	41%	46%	0%	247
1132016	-7%	-7%	35%	37%	-9%	357
8242015	-8%	-10%	8%	10%	-12%	99
5182012	-6%	-5%	47%	48%	-3%	368
5112011	-6%	1%	-5%	2%	-29%	320
6012010	-5%	-5%	11%	21%	-6%	262
2052010	-6%	-2%	20%	23%	-3%	68
12102009	-6%	4%	11%	20%	-5%	125
11012007	-7%	1%	-50%	0%	-57%	0
7242007	-7%	2%	-33%	5%	-49%	73
3212005	-5%	-2%	17%	18%	-4%	364

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 9/11/2026

XLF had 14 events since 1/1/2005 where the dip threshold of -10% within 90 days was triggered

20% median peak return within 1 year of dip event
278 days is the median time to peak return after a dip event
-13% median max drawdown within 1 year of dip event

90 Day Dip			XLF Subsequent Performance
Date	XLF	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			3%	20%	-13%	278
4042025	-11%	-14%	17%	29%	-1%	277
5242023	-11%	4%	33%	36%	-0%	359
3232023	-12%	0%	35%	38%	-0%	364
10062022	-10%	-9%	7%	18%	-4%	124
5052022	-10%	-13%	-5%	8%	-13%	278
3072022	-11%	-8%	-0%	11%	-14%	18
3062020	-10%	-1%	37%	37%	-30%	367
12102018	-11%	-6%	25%	25%	-9%	361
2112016	-13%	-6%	52%	52%	0%	365
6102011	-11%	-2%	-5%	10%	-23%	290
8112010	-12%	-8%	-13%	22%	-13%	191
6022008	-12%	4%	-48%	1%	-74%	3
10192007	-12%	-1%	-49%	4%	-56%	10
8282007	-10%	-3%	-36%	9%	-46%	38

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 9/11/2026

XLF had 6 events since 1/1/2005 where the dip threshold of -20% within 180 days was triggered

27% median peak return within 1 year of dip event
213 days is the median time to peak return after a dip event
-4.7% median max drawdown within 1 year of dip event

180 Day Dip			XLF Subsequent Performance
Date	XLF	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			20%	27%	-5%	213
9222022	-21%	-21%	9%	18%	-4%	138
7132022	-22%	-15%	12%	19%	-3%	209
9212020	-21%	3%	55%	65%	-3%	340
3122020	-24%	-14%	75%	75%	-13%	365
8222011	-20%	-7%	29%	35%	-5%	217
1022008	-21%	-0%	-54%	5%	-66%	30

[1] Dip event defined as first instance dip threshold is triggered within a 180-day time period.
[2] Analysis for period from 1/1/2005 to 9/11/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-5.8%	157.29	9112026	167.03	8132026	29
IJH	iShares Core S&P Mid-Cap ETF	-5.4%	74.44	9112026	78.67	8162026	26
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-5.3%	678.68	9112026	716.91	8162026	26
IVOO	Vanguard S&P Mid-Cap 400 ETF	-5.3%	126.02	9112026	133.08	8162026	26
IJR	iShares Core S&P Small-Cap ETF	-5.5%	142.19	9112026	150.44	8162026	26
VB	Vanguard Small-Cap ETF	-5.1%	293.45	9112026	309.29	8162026	26
IWM	iShares Russell 2000 ETF	-5.3%	288.89	9112026	305.09	8162026	26
SCHA	Schwab U.S. Small-Cap ETF	-6.5%	33.79	9112026	36.13	6302026	73
VTWO	Vanguard Russell 2000 ETF	-5.3%	116.76	9112026	123.31	8162026	26
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-5.0%	53.79	9112026	56.64	8162026	26
NUSC	Nuveen ESG Small-Cap ETF	-5.8%	50.19	9112026	53.27	8162026	26
IWF	iShares Russell 1000 Growth ETF	-5.0%	122.27	9112026	128.77	6012026	102
AKRE	Akre Focus ETF	-7.9%	56.98	9112026	61.85	8302026	12
IWP	iShares Russell Mid-Cap Growth ETF	-6.6%	138.00	9112026	147.70	8172026	25
VOT	Vanguard Mid-Cap Growth ETF	-6.1%	294.99	9112026	314.02	8162026	26
IJK	iShares S&P Mid-Cap 400 Growth ETF	-6.4%	111.52	9112026	119.11	8172026	25
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-6.4%	106.42	9112026	113.69	8172026	25
IWO	iShares Russell 2000 Growth ETF	-7.1%	367.63	9112026	395.65	8162026	26
VBK	Vanguard Small-Cap Growth ETF	-7.0%	340.69	9112026	366.24	8172026	25
IJT	iShares S&P Small-Cap 600 Growth ETF	-7.0%	166.46	9112026	179.07	8042026	38
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-7.0%	111.15	9112026	119.50	8042026	38
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-9.8%	33.64	9112026	37.30	6222026	81
EWY	iShares MSCI South Korea ETF	-13.9%	188.72	9112026	219.20	6212026	82
EWZ	iShares MSCI Brazil ETF	-8.5%	38.19	9112026	41.73	4142026	150
FXI	iShares China Large-Cap ETF	-9.9%	34.49	9112026	38.26	5132026	121
ILF	iShares Latin America 40 ETF	-5.6%	35.97	9112026	38.10	4142026	150
KWEB	KraneShares CSI China Internet ETF	-19.7%	24.60	9112026	30.64	3162026	179
MTUM	iShares MSCI USA Momentum Factor ETF	-11.1%	307.04	9112026	345.22	6222026	81
SPHQ	Invesco S&P 500 Quality ETF	-6.1%	84.57	9112026	90.10	6302026	73
FNDA	Schwab Fundamental U.S. Small Company ETF	-5.5%	36.42	9112026	38.52	8162026	26
SPMO	Invesco S&P 500 Momentum ETF	-8.3%	148.31	9112026	161.66	6222026	81
URA	Global X Uranium ETF	-25.3%	43.53	9112026	58.26	5062026	128
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-15.3%	35.28	9112026	41.63	5132026	121
ROBO	ROBO Global Robotics & Automation Index ETF	-12.4%	79.11	9112026	90.34	6022026	101
LIT	Global X Lithium & Battery Tech ETF	-22.0%	71.49	9112026	91.62	5112026	123
ICLN	iShares Global Clean Energy ETF	-24.5%	17.92	9112026	23.75	6022026	101
ARKQ	ARK Autonomous Technology & Robotics ETF	-15.6%	121.36	9112026	143.82	5282026	106
ARKX	ARK Space & Defense Innovation ETF	-15.6%	31.84	9112026	37.74	5282026	106
NASA	Tema Space Innovators ETF	-44.0%	23.44	9112026	41.89	5272026	107
AGIX	KraneShares Artificial Intelligence ETF	-7.2%	45.82	9112026	49.40	6012026	102
DRSK	Aptus Defined Risk ETF	-6.2%	27.84	9112026	29.67	6012026	102
YYY	Amplify CEF High Income ETF	-5.1%	10.97	9112026	11.56	7122026	61
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-6.8%	66.45	9112026	71.30	8252026	17
XLK	State Street Technology Select Sector SPDR ETF	-5.3%	187.67	9112026	198.21	6022026	101
XLV	State Street Health Care Select Sector SPDR ETF	-5.9%	165.36	9112026	175.68	8192026	23
XLI	State Street Industrial Select Sector SPDR ETF	-7.6%	172.37	9112026	186.51	8162026	26
XLC	State Street Communication Services Select Sector SPDR ETF	-5.5%	112.60	9112026	119.10	4192026	145
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-7.5%	112.96	9112026	122.06	5282026	106
XLU	State Street Utilities Select Sector SPDR ETF	-10.1%	42.39	9112026	47.15	4092026	155
XLB	State Street Materials Select Sector SPDR ETF	-5.1%	50.95	9112026	53.67	8262026	16
VHT	Vanguard Health Care ETF	-5.7%	310.74	9112026	329.48	8192026	23
IYJ	iShares U.S. Industrials ETF	-6.7%	158.47	9112026	169.86	8042026	38
IYM	iShares U.S. Basic Materials ETF	-5.0%	186.56	9112026	196.45	8252026	17
SMH	VanEck Semiconductor ETF	-15.0%	568.53	9112026	668.91	6222026	81
SOXX	iShares Semiconductor ETF	-19.5%	527.07	9112026	655.01	6222026	81
IBB	iShares Biotechnology ETF	-6.5%	202.93	9112026	216.96	8192026	23
XBI	State Street SPDR S&P Biotech ETF	-7.9%	156.20	9112026	169.55	8192026	23
ITA	iShares U.S. Aerospace & Defense ETF	-13.5%	219.01	9112026	253.22	8162026	26
IGV	iShares Expanded Tech-Software Sector ETF	-8.0%	101.52	9112026	110.32	8272026	15
IYT	iShares U.S. Transportation ETF	-8.7%	82.14	9112026	90.01	7162026	57
KRE	State Street SPDR S&P Regional Banking ETF	-5.2%	73.90	9112026	77.93	8162026	26
MISL	First Trust Indxx Aerospace & Defense ETF	-13.4%	42.58	9112026	49.19	5282026	106
RING	iShares MSCI Global Gold Miners ETF	-8.3%	85.47	9112026	93.17	8252026	17
SOXQ	Invesco PHLX Semiconductor ETF	-19.1%	93.10	9112026	115.11	6222026	81
TLT	iShares 20+ Year Treasury Bond ETF	-6.8%	80.87	9112026	86.78	6292026	74
VGLT	Vanguard Long-Term Treasury ETF	-5.8%	51.90	9112026	55.12	6292026	74
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-6.2%	24.69	9112026	26.33	6292026	74
TLH	iShares 10-20 Year Treasury Bond ETF	-5.5%	95.01	9112026	100.56	6292026	74
EDV	Vanguard World Funds Extended Duration ETF	-9.8%	59.02	9112026	65.43	6242026	79
VCLT	Vanguard Long-Term Corporate Bond ETF	-5.6%	70.65	9112026	74.85	6292026	74
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-6.2%	21.02	9112026	22.40	6292026	74
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-5.9%	47.11	9112026	50.05	6292026	74
LMUB	iShares Long-Term National Muni Bond ETF	-5.8%	48.02	9112026	51.00	7052026	68
GSG	iShares GSCI Commodity	-5.8%	30.01	9112026	31.85	3182026	177
GLD	SPDR Gold Trust	-13.5%	398.77	9112026	460.84	3152026	180
IAU	iShares Gold Trust	-13.9%	81.27	9112026	94.38	3152026	180
GLDM	SPDR Gold MiniShares Trust	-13.4%	86.00	9112026	99.28	3152026	180
SGOL	ETFS Physical Swiss Gold Shares	-6.5%	44.66	9112026	47.78	3152026	180
BAR	Direxion Daily Gold Bull 3X Shares	-10.2%	44.34	9112026	49.40	3152026	180
SLV	iShares Silver Trust	-27.5%	57.50	9112026	79.35	5132026	121
PPLT	ETFS Physical Platinum Shares	-16.8%	16.26	9112026	19.55	5132026	121
CPER	United States Copper Index Fund ETV	-6.6%	33.33	9112026	35.69	3162026	179
PALL	ETFS Physical Palladium Shares	-19.2%	23.62	9112026	29.23	3162026	179
UNG	United States Natural Gas Fund LP	-19.7%	10.17	9112026	12.67	3182026	177
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	9112026	60.13	5042026	130
VNQ	Vanguard Real Estate ETF	-6.1%	94.80	9112026	100.95	7282026	45
XLRE	State Street Real Estate Select Sector SPDR ETF	-5.6%	43.42	9112026	46.01	7282026	45
SCHH	Schwab U.S. REIT ETF	-6.7%	23.20	9112026	24.86	7262026	47
IYR	iShares U.S. Real Estate ETF	-6.1%	100.75	9112026	107.26	7282026	45
REET	iShares Global REIT ETF	-6.6%	26.98	9112026	28.89	7262026	47
USRT	iShares Core U.S. REIT ETF	-7.6%	64.48	9112026	69.82	7262026	47
IBIT	iShares Bitcoin Trust ETF	-5.8%	43.77	9112026	46.47	5112026	123
FBTC	Fidelity Wise Origin Bitcoin Fund	-5.7%	67.25	9112026	71.35	5112026	123

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-09-11

Asset allocation rotation · Past week

Cash ETFs drew the largest net inflows (+$3.0B), while Equity (−$6.2B) and Bond (−$400M) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$4.5B) and out of US Large Cap Core (−$18.4B).
Relative to fund size, FINA drew the largest inflow (+27.6% of AUM) and IYM the largest outflow (−10.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$9.55B	+0.9%
2	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$4.35B	+0.9%
3	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$2.28B	+0.3%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$1.71B	+1.6%
5	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	+$1.7B	+2.2%
6	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$1.58B	+3.3%
7	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$1.19B	+0.7%
8	IQMM	ProShares - GENIUS Money Market ETF	Other	+$942M	+4.7%
9	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$880M	+0.1%
10	IEFA	iShares Core MSCI EAFE ETF	Equity International Developed Broad	+$784M	+0.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$461M	+27.6%
2	USO	United States Oil Fund, LP	Commodity Energy	+$232M	+11.0%
3	WTV	WisdomTree U.S. Value Fund	Other	+$254M	+7.7%
4	CNEQ	Alger Concentrated Equity ETF	Other	+$171M	+6.5%
5	ETHB	iShares Staked Ethereum Trust ETF	Other	+$55M	+5.4%
6	BOTZ	Global X - Robotics & Artificial Intelligence ETF	Equity Thematic	+$174M	+5.0%
7	PSEP	Innovator U.S. Equity Power Buffer ETF	Other	+$51M	+5.0%
8	IQMM	ProShares - GENIUS Money Market ETF	Other	+$942M	+4.7%
9	DFAL		Other	+$79M	+4.6%
10	EWS	iShares MSCI Singapore ETF	Other	+$60M	+4.5%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$30.8B	-3.7%
2	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$1.9B	-6.6%
3	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$939M	-6.3%
4	XLK	State Street Technology Select Sector SPDR ETF	Equity Broad Sector	-$637M	-0.5%
5	GLD	SPDR Gold Shares	Commodity Gold	-$603M	-0.4%
6	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	-$455M	-1.6%
7	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$404M	-1.4%
8	SCMB	Schwab Municipal Bond ETF	Other	-$350M	-8.4%
9	XLY	State Street Consumer Discretionary Select Sector SPDR ETF	Equity Broad Sector	-$348M	-1.6%
10	GDX	VanEck Gold Miners ETF	Other	-$348M	-1.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$130M	-10.8%
2	TBLL	Invesco Short Term Treasury ETF	Other	-$277M	-10.7%
3	IYZ	iShares U.S. Telecommunications ETF	Other	-$125M	-10.2%
4	RODM	Hartford Multifactor Developed Markets (ex-US) ETF	Other	-$165M	-10.0%
5	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$172M	-9.0%
6	ARKB	ARK 21Shares Bitcoin ETF	Other	-$234M	-8.6%
7	SCMB	Schwab Municipal Bond ETF	Other	-$350M	-8.4%
8	IYE	iShares U.S. Energy ETF	Other	-$134M	-7.1%
9	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$1.9B	-6.6%
10	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$939M	-6.3%

Asset allocation rotation · Past month

Bond ETFs drew the largest net inflows (+$14.7B), followed by Equity (+$11.7B), while Real Estate (−$630M) saw the largest outflows.
Within the mix, money rotated into Short Treasury (+$9.1B) and out of US Large Cap Core (−$19.2B).
Relative to fund size, CNEQ drew the largest inflow (+83.3% of AUM) and SNXX the largest outflow (−39.4%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$42.94B	+4.1%
2	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$7.4B	+1.1%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$7.33B	+6.9%
4	VGSH	Vanguard Short-Term Treasury ETF	Bond Short Treasury	+$4.63B	+14.6%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$3.69B	+3.3%
6	GLD	SPDR Gold Shares	Commodity Gold	+$3.55B	+2.4%
7	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$3.37B	+15.6%
8	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$3.23B	+2.0%
9	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$3.19B	+6.8%
10	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$2.86B	+0.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$1.75B	+83.3%
2	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$692M	+41.3%
3	MGNR	American Beacon GLG Natural Resources ETF	Other	+$375M	+29.0%
4	USMC	Principal U.S. Mega-Cap ETF	Other	+$1.4B	+27.6%
5	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$431M	+24.9%
6	BFLX	iShares Flexible Equity Active ETF	Other	+$474M	+22.8%
7	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$337M	+20.4%
8	SPTS	State Street SPDR Portfolio Short Term Treasury ETF	Bond Short Treasury	+$1.4B	+19.4%
9	LMUB	iShares Long-Term National Muni Bond ETF	Bond Municipal	+$279M	+17.4%
10	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$268M	+17.2%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$65.33B	-7.4%
2	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$5.05B	-15.4%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$3.9B	-0.8%
4	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$3.21B	-19.6%
5	XLF this	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$2.66B	-4.8%
6	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$2.49B	-5.9%
7	DRAM	Roundhill Memory ETF	Other	-$2.14B	-8.2%
8	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$1.85B	-4.4%
9	XLI	State Street Industrial Select Sector SPDR ETF	Equity Broad Sector	-$1.25B	-3.8%
10	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	-$1.17B	-4.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$745M	-39.4%
2	RSPN	Invesco S&P 500 Equal Weight Industrials ETF	Other	-$256M	-24.3%
3	USO	United States Oil Fund, LP	Commodity Energy	-$439M	-22.9%
4	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$390M	-21.5%
5	TAN	Invesco Solar ETF	Other	-$235M	-20.4%
6	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$3.21B	-19.6%
7	XNTK	State Street SPDR NYSE Technology ETF	Other	-$322M	-16.6%
8	CORP	PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund	Other	-$236M	-16.2%
9	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$5.05B	-15.4%
10	EWA	iShares MSCI Australia ETF	Other	-$185M	-13.9%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$147.0B), followed by Bond (+$60.7B), with every major asset class in net inflows.
Within the mix, money rotated into US Nasdaq Growth (+$19.4B) and out of Intermediate Treasury (−$4.4B).
Relative to fund size, BFLX drew the largest inflow (+131.0% of AUM) and NASA the largest outflow (−94.2%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$24.06B	+14.9%
2	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$14.74B	+14.7%
3	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$14.44B	+2.2%
4	DRAM	Roundhill Memory ETF	Other	+$11.24B	+45.3%
5	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$10.55B	+2.2%
6	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$10.02B	+9.6%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$9.66B	+22.7%
8	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$8.94B	+5.7%
9	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$8.84B	+8.8%
10	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$8.21B	+5.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	BFLX	iShares Flexible Equity Active ETF	Other	+$2.09B	+131.0%
2	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.24B	+94.9%
3	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.25B	+86.1% ⚠
4	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$1.35B	+62.6%
5	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.13B	+57.1% ⚠
6	FLKR	Franklin FTSE South Korea ETF	Other	+$703M	+51.4%
7	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$8.09B	+45.3%
8	DRAM	Roundhill Memory ETF	Other	+$11.24B	+45.3%
9	CBOX		Other	+$569M	+45.1%
10	EWI	iShares MSCI Italy ETF	Other	+$433M	+42.5%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$11.53B	-1.3%
2	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.98B	-51.2%
3	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.02B	-8.5%
4	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$2.54B	-18.3%
5	IAU	iShares Gold Trust	Commodity Gold	-$2.0B	-3.2%
6	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$1.88B	-1.8%
7	SCZ	iShares MSCI EAFE Small-Cap ETF	Equity International Small Cap	-$1.73B	-12.9%
8	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.6B	-9.7%
9	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.36B	-15.2%
10	XLE	State Street Energy Select Sector SPDR ETF	Equity Broad Sector	-$1.33B	-3.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	NASA	Tema Space Innovators ETF	Equity Thematic	-$1.09B	-94.2%
2	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$1.04B	-74.7%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.98B	-51.2%
4	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$798M	-42.4%
5	TAN	Invesco Solar ETF	Other	-$478M	-34.1%
6	QLTA	iShares Aaa - A Rated Corporate Bond ETF	Other	-$353M	-28.7%
7	ICOW	Pacer Developed Markets International Cash Cows 100 ETF	Other	-$490M	-27.0%
8	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$1.11B	-25.9%
9	RSPN	Invesco S&P 500 Equal Weight Industrials ETF	Other	-$235M	-21.7%
10	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$272M	-21.7%

Largest ETF fund flows across ~2643 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About XLF

Holdings Count: 76
Expense Ratio: 0.08%
Inception Date: 1998-12-16

State Street Financial Select Sector SPDR ETF
The State Street Financial Select Sector SPDR ETF aims to mirror the price and yield performance of the Financial Select Sector Index, before accounting for expenses. This underlying Index is structured to accurately reflect the financial segment of the S&P 500 Index. The ETF offers targeted investment exposure to various financial sub-sectors, including financial services, insurance, banking, capital markets, mortgage real estate investment trusts (REITs), and consumer finance. Consequently, it enables investors to pursue more granular strategic or tactical portfolio adjustments than typical style-based investment approaches.
Asset Class: Equity | ETF Website

	Title	Date
0	DASHBOARDS
1	Is XLF's New High A Quiet Warning?	07/15/2026

	Title
0	ARTICLES

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ACVA	ACV Auctions	1.8	44.2%	29.8%
FEIM	Frequency Electronics	0.9	42.4%	64.1%
ATEC	Alphatec	1.7	19.7%	-49.7%
HPE	Hewlett Packard Enterprise	82.9	12.4%	160.9%
DELL	Dell Technologies	368.2	12.0%	354.8%
VICR	Vicor	9.1	11.2%	80.6%
BGSI	Boyd Services	2.5	10.9%	-43.1%
BW	Babcock & Wilcox Enterprises	1.1	10.7%	25.2%
NXTT	Next Technology	0.8	10.4%	-11.6%
BAND	Bandwidth	1.8	10.2%	268.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADBT	Advasa	0.1	-24.8%	-96.3%
SMR	NuScale Power	3.1	-15.7%	-39.2%
SLS	SELLAS Life Sciences	2.2	-14.4%	206.2%
IMSR	Terrestrial Energy	0.5	-9.8%	-22.3%
OKLO	Oklo	6.4	-9.2%	-49.5%
ASM	Avino Silver & Gold Mines	1.1	-8.8%	4.5%
OMDA	Omada Health	1.2	-8.6%	24.6%
LEU	Centrus Energy	3.0	-8.2%	-37.3%
ALMS	Alumis	1.2	-7.3%	-5.9%
QLYS	Qualys	5.3	-7.0%	13.1%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ACVA	ACV Auctions	1.8	55.4%	29.8%
FEIM	Frequency Electronics	0.9	47.6%	64.1%
SEI	Solaris Energy Infrastructure	4.0	26.8%	47.3%
ASO	Academy Sports and Outdoors	3.6	26.7%	11.5%
MXL	MaxLinear	6.7	25.4%	327.8%
AEHR	Aehr Test Systems	3.0	24.2%	369.0%
COHU	Cohu	2.7	24.1%	145.3%
SWKS	Skyworks Solutions	13.3	23.6%	42.2%
SMTC	Semtech	15.5	23.5%	127.0%
SIG	Signet Jewelers	4.0	22.2%	22.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TTAN	ServiceTitan	5.2	-41.3%	-48.7%
ADBT	Advasa	0.1	-32.4%	-96.3%
GWRE	Guidewire Software	11.9	-30.5%	-29.9%
BRZE	Braze	2.7	-28.0%	-30.2%
DYN	Dyne Therapeutics	3.0	-27.0%	-6.9%
SGML	Sigma Lithium	1.1	-25.6%	-28.0%
TBBK	Bancorp	2.1	-25.3%	-25.0%
PATH	UiPath	7.2	-24.5%	-16.1%
NAVN	Navan	5.3	-24.1%	23.1%
COO	Cooper Companies	10.5	-23.7%	-34.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MRNA	Moderna	57.3	126.1%	388.2%
CAPR	Capricor Therapeutics	0.5	99.8%	-71.0%
PURR	Hyperliquid Strategies	1.4	72.0%	226.1%
HTFL	HeartFlow	4.3	67.1%	71.1%
AVAH	Aveanna Healthcare	3.1	55.6%	72.3%
BTGO	BitGo	0.9	53.3%	-58.6%
FWDI	Forward Industries	0.6	48.9%	-0.9%
ANGX	Angel Studios	1.0	48.1%	16.7%
WEAV	Weave Communications	0.6	45.9%	-3.7%
ARX	Accelerant	4.3	45.8%	21.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ALMS	Alumis	1.2	-64.1%	-5.9%
RARE	Ultragenyx Pharmaceutical	1.5	-46.8%	-37.8%
IESC	IES	13.8	-43.6%	-11.1%
KRMN	Karman	4.7	-43.0%	-51.8%
TTAN	ServiceTitan	5.2	-40.6%	-48.7%
CRDO	Credo Technology	30.1	-39.2%	13.2%
AEVA	Aeva Technologies	1.0	-38.3%	16.9%
EVCM	EverCommerce	1.1	-36.7%	-47.9%
AADX	Applied Aerospace & Defense	1.8	-36.2%	-35.8%
BLZE	Backblaze	0.8	-35.9%	166.1%

Peer Comparisons

Peers to compare with:

Profile

	XLF	VGT	XLK	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	55.4	160.2	121.1	45.1	42.5	32.1	50.3
Expense Ratio	0.08%	0.09%	0.08%	0.08%	0.08%	0.08%	0.08%
10-D Avg Volume (Mil)	33.47	4.56	10.55	9.90	32.42	7.34	10.22
Latest Day Volume (Mil)	25.29	4.05	5.54	7.67	37.13	7.73	7.70
Holdings Count	76	310	73	60	21	83	74
Inception Date	12/16/1998	1/26/2004	12/16/1998	12/16/1998	12/16/1998	12/16/1998	-

Fundamentals

	XLF	VGT	XLK	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Net Asset Value	58.54	121.26	186	173.30	64.63	174.55	186.00
Premium/Discount	-2.2%	-0.2%	0.9%	-4.6%	0.8%	-1.2%	-0.7%
Distribution Yield	1.4%	0.4%	0.4%	1.5%	2.3%	1.2%	1.3%
Sales Yield	29.4%	66.6%	105.4%	62.0%	58.6%	33.7%	60.3%
Earnings Yield	6.3%	8.9%	13.4%	3.2%	5.7%	3.6%	6.0%

Valuation

	XLF	VGT	XLK	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
P/S (TTM)	3.4x	1.5x	0.9x	1.6x	1.7x	3.0x	1.7x
P/E (TTM)	15.8x	11.2x	7.5x	31.6x	17.6x	27.7x	16.7x
P/FCF (TTM)	33.7x	5.3x	3.2x	22.0x	17.0x	27.3x	19.5x
Forward P/E	14.8x	4.1x	2.5x	17.7x	14.5x	23.0x	14.7x
Forward P/S	3.3x	1.1x	0.7x	1.5x	1.6x	2.7x	1.6x

Risk

	XLF	VGT	XLK	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Volatility (1Y)	14.6%	24.8%	26.3%	16.2%	21.6%	17.2%	19.4%
Volatility (3Y)	16.1%	24.6%	25.1%	14.7%	21.8%	16.7%	19.3%
Volatility (5Y)	18.4%	26.0%	25.9%	15.2%	25.6%	17.6%	22.0%
Beta (1Y)	0.62	1.68	1.73	0.31	-0.31	0.95	0.79
Beta (3Y)	0.78	1.49	1.49	0.46	0.46	0.91	0.85
Beta (5Y)	0.86	1.41	1.39	0.55	0.58	0.88	0.87
Sharpe Ratio (1Y)	0.66	1.37	1.40	1.30	1.98	0.90	1.34
Sharpe Ratio (3Y)	1.23	1.21	1.16	0.69	0.79	1.12	1.14
Sharpe Ratio (5Y)	0.62	0.78	0.82	0.43	1.03	0.73	0.76
Max Drawdown (1Y)	-14.8%	-16.4%	-16.0%	-10.5%	-15.6%	-12.2%	-15.2%
Max Drawdown (3Y)	-15.5%	-27.2%	-25.7%	-17.1%	-20.1%	-18.5%	-19.3%
Max Drawdown (5Y)	-25.8%	-35.1%	-33.6%	-17.1%	-26.0%	-21.6%	-25.9%

Returns

	XLF	VGT	XLK	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
1M Return	-1.2%	-0.4%	-0.6%	-1.8%	6.7%	-7.3%	-0.9%
3M Return	8.8%	4.4%	2.4%	7.3%	14.0%	-1.6%	5.9%
6M Return	17.8%	34.7%	36.3%	10.6%	14.0%	4.6%	15.9%
YTD Return	5.1%	28.8%	30.5%	7.3%	46.6%	11.4%	20.1%
1Y Return	9.0%	36.1%	39.5%	22.0%	49.7%	15.1%	29.0%
2Y Return	32.8%	83.4%	86.1%	10.7%	60.2%	40.3%	50.3%
3Y Return	74.3%	122.7%	118.6%	31.7%	56.0%	68.6%	71.4%

Short Interest

Short Interest: As Of Date	8312026
Short Interest: Shares Quantity	141.3 Mil
Short Interest: % Change Since 8152026	45.1%
Average Daily Volume	28.8 Mil
Days-to-Cover Short Interest	4.9 days

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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State Street Financial Select Sector SPDR ETF (XLF)

Market Price (9/12/2026): $57.29

State Street Financial Select Sector SPDR ETF (XLF)

Market Price (9/12/2026): $57.29

Key Takeaways

Price Chart

Asset Allocation with XLF

Valuation & Yield

Top 20 Holdings for XLF

Performance for XLF Top Holdings

Guidance Updates for XLF Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

XLF Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

Set Alerts and Notifications

Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About XLF

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Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

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