State Street Financial Select Sector SPDR ETF (XLF)

Market Price (10/30/2026): $56.615

State Street Financial Select Sector SPDR ETF (XLF)

Market Price (10/30/2026): $56.615

Key Takeaways

XLF has returned +4.9% YTD vs +13.4% for SPY; +10.6% over the past 12 months (SPY +12.9%). details →
Priced in gold, XLF has returned -8.4% over the past 3 years, vs +85.7% in dollars — its dollar gains have lagged gold. details →
Over the past month, XLF has seen net outflows of −$705M (−1.4% of assets). details →
XLF's top 10 holdings represent 57% of the fund vs 38% for SPY — a more concentrated portfolio. details →
Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.9 vs 1.1. details →

Last updated: 10/29/2026.

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

12.7%

Sharpe

0.67

YTD

+4.3%

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%	1.4%	0.5%	6.6%	4.9%
Bond	BND	50.0%	0.3%	0.0%	2.1%	-0.7%
Gold	GLD	10.0%	-1.3%	-0.1%	-3.2%	-7.0%
Commodity	DBC	2.5%	-0.2%	0.4%	4.3%	50.8%
Real Estate	VNQ	5.0%	2.3%	1.3%	4.7%	9.1%
Bitcoin	BTCUSD	0.0%	-1.9%	-2.0%	-4.6%	-8.9%
Cash	GOVT	7.5%	0.4%	0.0%	1.7%	-1.0%
Conservative Portfolio		100.0%	0.5%	0.2%	2.9%	1.8%

	ETF	%	1D	1W	1M	YTD
Equity	XLF	55.0%	1.4%	0.5%	6.6%	4.9%
Bond	BND	25.0%	0.3%	0.0%	2.1%	-0.7%
Gold	GLD	7.0%	-1.3%	-0.1%	-3.2%	-7.0%
Commodity	DBC	4.0%	-0.2%	0.4%	4.3%	50.8%
Real Estate	VNQ	5.0%	2.3%	1.3%	4.7%	9.1%
Bitcoin	BTCUSD	2.0%	-1.9%	-2.0%	-4.6%	-8.9%
Cash	GOVT	2.0%	0.4%	0.0%	1.7%	-1.0%
Moderate Portfolio		100.0%	0.8%	0.3%	4.3%	4.3%

	ETF	%	1D	1W	1M	YTD
Equity	XLF	80.0%	1.4%	0.5%	6.6%	4.9%
Bond	BND	5.0%	0.3%	0.0%	2.1%	-0.7%
Gold	GLD	3.0%	-1.3%	-0.1%	-3.2%	-7.0%
Commodity	DBC	2.2%	-0.2%	0.4%	4.3%	50.8%
Real Estate	VNQ	4.5%	2.3%	1.3%	4.7%	9.1%
Bitcoin	BTCUSD	5.2%	-1.9%	-2.0%	-4.6%	-8.9%
Cash	GOVT	0.0%	0.4%	0.0%	1.7%	-1.0%
Aggressive Portfolio		100.0%	1.1%	0.4%	5.4%	4.7%

	ETF	%	Return	Volatility	Sharpe
Equity	XLF	25.0%	13.2%	19.5%	0.59
Bond	BND	50.0%	1.4%	5.3%	-0.27
Gold	GLD	10.0%	11.8%	15.4%	0.61
Commodity	DBC	2.5%	8.1%	17.4%	0.35
Real Estate	VNQ	5.0%	5.2%	17.7%	0.20
Bitcoin	BTCUSD	0.0%	62.2%	76.5%	0.96
Cash	GOVT	7.5%	0.4%	5.0%	-0.46
Conservative Portfolio		100.0%	6.0%	7.5%	0.43

	ETF	%	Return	Volatility	Sharpe
Equity	XLF	55.0%	13.2%	19.5%	0.59
Bond	BND	25.0%	1.4%	5.3%	-0.27
Gold	GLD	7.0%	11.8%	15.4%	0.61
Commodity	DBC	4.0%	8.1%	17.4%	0.35
Real Estate	VNQ	5.0%	5.2%	17.7%	0.20
Bitcoin	BTCUSD	2.0%	62.2%	76.5%	0.96
Cash	GOVT	2.0%	0.4%	5.0%	-0.46
Moderate Portfolio		100.0%	11.0%	12.7%	0.67

	ETF	%	Return	Volatility	Sharpe
Equity	XLF	80.0%	13.2%	19.5%	0.59
Bond	BND	5.0%	1.4%	5.3%	-0.27
Gold	GLD	3.0%	11.8%	15.4%	0.61
Commodity	DBC	2.2%	8.1%	17.4%	0.35
Real Estate	VNQ	4.5%	5.2%	17.7%	0.20
Bitcoin	BTCUSD	5.2%	62.2%	76.5%	0.96
Cash	GOVT	0.0%	0.4%	5.0%	-0.46
Aggressive Portfolio		100.0%	15.8%	18.0%	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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[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

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Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	10/31/27	10/30/26	2025	2024	2023	2022	2021
Share Price CYE		$56.94	$54.30	$47.26	$36.20	$32.31	$36.14
Dividend/Share TTM		$0.63	$0.72	$0.69	$0.64	$0.70	$0.64
Valuation [1]
P/S	3.43	3.64	3.87	3.57	3.07	3.16	3.57
P/E		15.96	18.06	16.28	15.27	15.75	14.10
P/E (Non-GAAP) [2]	14.84	16.54	18.43	18.94	15.03	13.67	18.98
P/FCF		17.81	23.73	27.19	15.73	12.14	16.82
Yields TTM
Earnings Yield	6.74%	6.26%	5.54%	6.14%	6.55%	6.35%	7.09%
Dividend Yield	1.11%	1.11%	1.33%	1.45%	1.77%	2.16%	1.76%
Total Yield (TY)	7.84%	7.37%	6.86%	7.59%	8.32%	8.51%	8.85%
Risk Premium [3]
Risk Free Rate (Rf)	5.05%	5.05%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	2.79%	2.32%	2.68%	3.01%	4.44%	4.63%	7.33%
Growth Rates [6]
Sales Growth	5.2%	7.3%	4.3%	10.3%	13.5%	-3.4%
Earnings Growth [7]	8.6%	15.6%	2.8%	30.4%	20.7%	-36.6%

[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 6.26%, based on its 16.0x trailing P/E. With a 1.11% dividend yield, XLF is yielding 7.37% in total.

RISK

Compared to US Treasuries at 5.05%, XLF's total yield implies a reasonable 2.32% risk premium. Risk premiums at this level suggest valuations are not excessive.

FORWARD EXPECTATIONS

Based on analyst estimates, XLF's forward total yield is 7.84%, implying a 2.79% risk premium assuming stable Treasury rates.

Top 20 Holdings for XLF

Total Weights
Top 5: 43.4% | Top 10: 57.3% | Top 20: 72.7%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.92%	100.00%	100.00%	3.3	14.6	+5.2%	+8.6%
Top 20		72.71%	61.95%	71.59%	3.8	15.6	+4.8%	+8.7%
BRK-B	Berkshire Hathaway	12.76%	16.20%	14.77%	2.9	24.2	+1.6%	-0.1%
JPM	JPMorgan Chase	11.21%	7.99%	12.43%	4.3	12.9	+4.0%	+5.2%
V	Visa	8.85%	1.72%	4.08%	15.0	26.8	+10.8%	+13.5%
MA	Mastercard	6.42%	1.36%	2.93%	13.6	27.7	+12.6%	+15.7%
BAC	Bank of America	4.16%	4.66%	6.03%	2.8	9.7	+6.4%	+19.4%
GS	Goldman Sachs	3.25%	2.61%	3.86%	3.8	11.9	+1.1%	+9.8%
WFC	Wells Fargo	3.15%	3.63%	4.45%	2.8	10.0	+5.3%	+12.3%
MS	Morgan Stanley	2.75%	2.32%	2.98%	3.4	14.1	+5.6%	+1.7%
C	Citigroup	2.57%	3.71%	3.38%	2.2	8.9	+4.2%	+15.9%
AXP	American Express	2.15%	2.51%	1.76%	2.6	15.9	+9.1%	+10.1%
BLK	BlackRock	2.05%	1.04%	1.17%	5.7	17.7	+10.5%	+13.8%
SCHW	Charles Schwab	1.86%	1.06%	1.91%	5.0	12.2	+13.5%	+16.8%
SPGI	S&P Global	1.71%	0.74%	1.00%	8.6	22.0	+5.4%	+13.3%
PGR	Progressive	1.67%	3.84%	2.30%	1.5	13.8	+4.2%	-12.2%
CB	Chubb	1.60%	2.41%	2.03%	2.4	12.6	+4.3%	-2.6%
COF	Capital One Financial	1.56%	2.53%	2.00%	1.9	9.8	+5.7%	+18.3%
CME	CME Group	1.38%	0.31%	0.90%	14.3	22.8	+5.7%	+5.3%
BNY	Bank of New York Mellon	1.24%	0.86%	1.20%	4.4	14.4	+5.3%	+11.7%
MRSH	Marsh	1.19%	1.22%	0.81%	3.1	17.1	+5.0%	+8.0%
USB	U.S. Bancorp	1.17%	1.24%	1.60%	2.9	10.6	+7.3%	+7.8%

[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 10/31/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 10/31/27.
[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 10/29	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
XLF	State Street Financial Select Sector SPDR ETF	100.00%	56.94	1.4%	5.4%	4.9%	10.6%	85.7%	53.6%	245.4%
BRK-B	Berkshire Hathaway	12.76%	541.96	0.3%	7.9%	7.8%	13.9%	60.6%	88.8%	275.6%
JPM	JPMorgan Chase	11.21%	343.58	1.3%	3.1%	8.7%	14.6%	166.4%	129.0%	543.7%
V	Visa	8.85%	410.54	2.5%	12.2%	17.8%	21.3%	80.2%	101.3%	433.9%
MA	Mastercard	6.42%	635.70	4.2%	13.0%	12.1%	15.4%	73.8%	95.2%	529.8%
BAC	Bank of America	4.16%	51.14	0.6%	-7.0%	-5.5%	-0.7%	113.9%	21.0%	287.5%
GS	Goldman Sachs	3.25%	927.73	0.3%	1.3%	7.1%	20.8%	229.7%	153.4%	540.1%
WFC	Wells Fargo	3.15%	84.81	1.4%	5.4%	-7.5%	0.8%	131.3%	87.2%	142.8%
MS	Morgan Stanley	2.75%	188.85	-0.7%	-2.0%	8.1%	17.7%	189.7%	114.0%	640.9%
C	Citigroup	2.57%	125.76	1.3%	-3.9%	9.4%	29.6%	254.1%	114.1%	245.7%
AXP	American Express	2.15%	323.71	1.8%	6.3%	-11.5%	-8.6%	133.7%	98.1%	458.2%
BLK	BlackRock	2.05%	1,176.24	1.6%	10.1%	11.7%	9.4%	107.1%	40.7%	340.9%
SCHW	Charles Schwab	1.86%	89.47	0.8%	-9.7%	-9.6%	-4.2%	83.7%	16.9%	221.7%
SPGI	S&P Global	1.71%	460.66	2.5%	17.4%	-6.6%	3.4%	43.9%	6.7%	336.0%
PGR	Progressive	1.67%	230.18	2.0%	9.4%	7.7%	17.9%	62.2%	171.0%	864.5%
CB	Chubb	1.60%	362.28	1.9%	9.1%	17.1%	31.9%	76.3%	99.4%	241.0%
COF	Capital One Financial	1.56%	208.74	1.9%	6.3%	-12.9%	-3.0%	117.5%	51.7%	237.4%
CME	CME Group	1.38%	296.42	0.8%	12.6%	12.2%	17.7%	59.4%	65.8%	335.1%
BNY	Bank of New York Mellon	1.24%	149.37	0.5%	2.1%	30.8%	41.9%	277.3%	188.6%	345.5%
MRSH	Marsh	1.19%	197.03	2.5%	16.3%	8.5%	11.9%	10.2%	28.0%	268.2%
USB	U.S. Bancorp	1.17%	60.64	1.7%	5.3%	16.9%	35.0%	120.1%	25.1%	96.3%

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%	3%	109%
Peers Return	33%	-0%	26%	15%	18%	29%	193%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	106%
Monthly Win Rates [3]
XLF Win Rate	58%	42%	50%	67%	67%	50%
Peers Win Rate	73%	42%	62%	62%	63%	50%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
XLF Max Drawdown	-8%	-26%	-16%	-7%	-16%	-15%
Peers Max Drawdown	-11%	-26%	-13%	-14%	-21%	-13%
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 10/29/2026 (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	-0.23	0.89	0.36
Equity Top Results (3Y)
IALT	2.30	2.30	2.30
VLUE	2.18	1.44	0.76
SPMO	0.89	1.43	0.86
SMH	1.69	1.38	0.95
CGDV	1.03	1.35	0.89

Results as of 9302026.

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 trading 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 Trading-Day Dip			XLF Subsequent Performance
Date	XLF	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			17%	21%	-7%	262
3/6/2026	-5%	-1%			-5%	181
4/4/2025	-8%	-14%	17%	29%	-1%	277
10/12/2023	-5%	-4%	44%	44%	-5%	368
3/10/2023	-5%	-3%	26%	26%	-6%	368
3/7/2022	-8%	-10%	0%	11%	-14%	18
1/21/2022	-5%	-4%	-4%	8%	-20%	19
9/1/2020	-5%	10%	55%	59%	-7%	360
2/27/2020	-9%	-5%	21%	26%	-35%	363
10/11/2018	-5%	-3%	7%	11%	-15%	288
4/11/2018	-6%	-5%	-1%	7%	-17%	162
5/17/2017	-6%	0%	24%	33%	0%	254
6/27/2016	-5%	-3%	41%	47%	0%	247
1/13/2016	-7%	-7%	35%	37%	-9%	357
8/24/2015	-8%	-10%	8%	11%	-12%	99
5/18/2012	-6%	-5%	47%	48%	-3%	368
5/11/2011	-6%	1%	-5%	2%	-29%	320
6/1/2010	-5%	-5%	11%	21%	-6%	262
2/5/2010	-6%	-2%	20%	23%	-3%	68
12/10/2009	-6%	4%	11%	20%	-5%	125
11/1/2007	-7%	1%	-50%	0%	-57%	0
7/24/2007	-7%	2%	-33%	5%	-49%	73
3/21/2005	-5%	-2%	17%	18%	-4%	364

[1] Dip event: the stock fell more than 5.0% over 60 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/29/2026

XLF had 14 events since 1/1/2005 where the dip threshold of -10% within 90 trading 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 Trading-Day Dip			XLF Subsequent Performance
Date	XLF	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			3%	20%	-13%	278
4/4/2025	-11%	-14%	17%	29%	-1%	277
5/24/2023	-11%	4%	33%	36%	0%	359
3/23/2023	-12%	0%	35%	38%	0%	364
10/6/2022	-10%	-9%	7%	18%	-4%	124
5/5/2022	-10%	-13%	-5%	8%	-13%	278
3/7/2022	-11%	-8%	0%	11%	-14%	18
3/6/2020	-10%	-1%	37%	37%	-30%	367
12/10/2018	-11%	-6%	25%	25%	-9%	361
2/11/2016	-13%	-6%	52%	52%	0%	365
6/10/2011	-11%	-2%	-5%	10%	-23%	290
8/11/2010	-12%	-8%	-13%	22%	-13%	191
6/2/2008	-12%	4%	-48%	1%	-74%	3
10/19/2007	-12%	-1%	-49%	4%	-56%	10
8/28/2007	-10%	-3%	-36%	9%	-46%	38

[1] Dip event: the stock fell more than 10% over 90 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/29/2026

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

28% 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 Trading-Day Dip			XLF Subsequent Performance
Date	XLF	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			20%	28%	-5%	213
9/22/2022	-21%	-21%	9%	18%	-4%	138
7/13/2022	-22%	-15%	12%	20%	-3%	209
9/21/2020	-21%	3%	55%	66%	-3%	340
3/12/2020	-24%	-14%	75%	75%	-13%	365
8/22/2011	-20%	-7%	29%	36%	-5%	217
1/2/2008	-21%	0%	-54%	5%	-66%	30

[1] Dip event: the stock fell more than 20% over 180 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/29/2026

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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
MAGS	Roundhill Magnificent Seven ETF	-6.2%	69.70	10292026	74.30	10132026	16
QQQ	Invesco QQQ Trust, Series 1	-5.8%	715.34	10292026	759.66	10062026	23
QQQM	Invesco NASDAQ 100 ETF	-5.8%	294.53	10292026	312.76	10062026	23
ONEQ	Fidelity Nasdaq Composite Index ETF	-5.1%	103.18	10292026	108.77	10062026	23
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-6.4%	156.42	10292026	167.03	8132026	77
IJH	iShares Core S&P Mid-Cap ETF	-5.7%	74.20	10292026	78.67	8162026	74
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-5.6%	676.84	10292026	716.91	8162026	74
IVOO	Vanguard S&P Mid-Cap 400 ETF	-5.4%	125.56	10292026	132.68	8162026	74
IJR	iShares Core S&P Small-Cap ETF	-5.6%	142.01	10292026	150.44	8162026	74
IWM	iShares Russell 2000 ETF	-6.9%	284.01	10292026	305.09	8162026	74
SCHA	Schwab U.S. Small-Cap ETF	-7.2%	33.52	10292026	36.13	6302026	121
VTWO	Vanguard Russell 2000 ETF	-6.7%	114.72	10292026	122.90	8162026	74
VUG	Vanguard Growth ETF	-5.3%	87.69	10292026	92.64	10062026	23
IWF	iShares Russell 1000 Growth ETF	-6.3%	121.11	10292026	129.19	10062026	23
IVW	iShares S&P 500 Growth ETF	-5.5%	138.13	10292026	146.12	10062026	23
SPYG	State Street SPDR Portfolio S&P 500 Growth ETF	-5.5%	119.56	10292026	126.50	10062026	23
VONG	Vanguard Russell 1000 Growth ETF	-6.2%	124.69	10292026	133.00	10062026	23
MGK	Vanguard Mega Cap Growth ETF	-5.8%	89.63	10292026	95.11	10062026	23
AKRE	Akre Focus ETF	-5.4%	58.54	10292026	61.85	8302026	60
IWP	iShares Russell Mid-Cap Growth ETF	-7.7%	136.35	10292026	147.70	8172026	73
VOT	Vanguard Mid-Cap Growth ETF	-5.9%	295.13	10292026	313.61	8162026	74
IJK	iShares S&P Mid-Cap 400 Growth ETF	-7.6%	110.01	10292026	119.11	8172026	73
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-7.7%	104.90	10292026	113.69	8172026	73
IWO	iShares Russell 2000 Growth ETF	-9.1%	359.77	10292026	395.65	8162026	74
VBK	Vanguard Small-Cap Growth ETF	-7.4%	338.95	10292026	365.91	8172026	73
IJT	iShares S&P Small-Cap 600 Growth ETF	-6.8%	166.96	10292026	179.07	8042026	86
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-6.7%	111.51	10292026	119.50	8042026	86
VXUS	Vanguard Total International Stock ETF	-5.4%	83.65	10292026	88.41	9072026	52
IXUS	iShares Core MSCI Total International Stock ETF	-5.0%	93.75	10292026	98.71	9072026	52
VGK	Vanguard FTSE Europe ETF	-5.2%	88.14	10292026	92.96	8252026	65
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-6.5%	150.95	10292026	161.49	5112026	171
SCHC	Schwab International Small-Cap Equity ETF	-6.1%	48.69	10292026	51.86	8272026	63
IEMG	iShares Core MSCI Emerging Markets ETF	-11.2%	76.36	10292026	86.00	6222026	129
VWO	Vanguard FTSE Emerging Markets ETF	-7.7%	56.60	10292026	61.32	9072026	52
EEM	iShares MSCI Emerging Markets ETF	-11.9%	62.72	10292026	71.21	6222026	129
SPEM	State Street SPDR Portfolio Emerging Markets ETF	-7.5%	49.42	10292026	53.41	9072026	52
SCHE	Schwab Emerging Markets Equity ETF	-7.4%	34.81	10292026	37.58	9072026	52
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-18.5%	30.39	10292026	37.30	6222026	129
EWY	iShares MSCI South Korea ETF	-26.2%	161.83	10292026	219.20	6212026	130
EWZ	iShares MSCI Brazil ETF	-23.9%	33.14	10292026	43.54	10122026	17
FXI	iShares China Large-Cap ETF	-14.6%	32.69	10292026	38.26	5132026	169
ILF	iShares Latin America 40 ETF	-14.5%	32.68	10292026	38.21	10122026	17
KWEB	KraneShares CSI China Internet ETF	-25.5%	22.79	10292026	30.59	5132026	169
MTUM	iShares MSCI USA Momentum Factor ETF	-13.6%	298.34	10292026	345.22	6222026	129
SPHQ	Invesco S&P 500 Quality ETF	-5.8%	84.83	10292026	90.10	6302026	121
FNDA	Schwab Fundamental U.S. Small Company ETF	-5.4%	36.45	10292026	38.52	8162026	74
SPMO	Invesco S&P 500 Momentum ETF	-11.9%	142.40	10292026	161.66	6222026	129
ARKK	ARK Innovation ETF	-7.3%	85.97	10292026	92.78	10052026	24
URA	Global X Uranium ETF	-38.7%	35.72	10292026	58.26	5062026	176
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-19.7%	33.42	10292026	41.63	5132026	169
ROBO	ROBO Global Robotics & Automation Index ETF	-13.8%	77.89	10292026	90.34	6022026	149
LIT	Global X Lithium & Battery Tech ETF	-33.5%	60.94	10292026	91.62	5112026	171
ICLN	iShares Global Clean Energy ETF	-33.9%	15.69	10292026	23.75	6022026	149
ARKQ	ARK Autonomous Technology & Robotics ETF	-19.6%	115.60	10292026	143.82	5282026	154
ARKW	ARK Next Generation Internet ETF	-7.3%	155.16	10292026	167.33	10062026	23
ARKX	ARK Space & Defense Innovation ETF	-17.9%	30.99	10292026	37.74	5282026	154
NASA	Tema Space Innovators ETF	-48.4%	21.61	10292026	41.89	5272026	155
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-7.5%	20.74	10292026	22.43	10052026	24
AGIX	KraneShares Artificial Intelligence ETF	-11.0%	44.09	10292026	49.56	10062026	23
DRSK	Aptus Defined Risk ETF	-7.4%	27.23	10292026	29.39	6012026	150
YYY	Amplify CEF High Income ETF	-8.7%	10.38	10292026	11.37	8162026	74
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-24.9%	53.54	10292026	71.30	8252026	65
RAAX	VanEck Real Assets ETF	-5.7%	40.26	10292026	42.70	5112026	171
VGT	Vanguard Information Technology ETF	-5.8%	122.24	10292026	129.80	10062026	23
XLK	State Street Technology Select Sector SPDR ETF	-6.6%	188.74	10292026	202.00	10062026	23
XLI	State Street Industrial Select Sector SPDR ETF	-8.8%	170.13	10292026	186.51	8162026	74
XLC	State Street Communication Services Select Sector SPDR ETF	-13.6%	101.21	10292026	117.08	5072026	175
XLU	State Street Utilities Select Sector SPDR ETF	-7.3%	43.14	10292026	46.55	4302026	182
IYJ	iShares U.S. Industrials ETF	-5.6%	160.39	10292026	169.86	8042026	86
IYM	iShares U.S. Basic Materials ETF	-7.4%	181.88	10292026	196.45	8252026	65
SMH	VanEck Semiconductor ETF	-16.0%	561.67	10292026	668.91	6222026	129
SOXX	iShares Semiconductor ETF	-21.5%	513.86	10292026	655.01	6222026	129
XBI	State Street SPDR S&P Biotech ETF	-6.9%	157.79	10292026	169.55	8192026	71
ITA	iShares U.S. Aerospace & Defense ETF	-15.4%	214.30	10292026	253.22	8162026	74
IYT	iShares U.S. Transportation ETF	-9.3%	81.61	10292026	90.01	7162026	105
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-9.0%	180.30	10292026	198.06	9032026	56
KRE	State Street SPDR S&P Regional Banking ETF	-6.5%	72.86	10292026	77.93	8162026	74
MISL	First Trust Indxx Aerospace & Defense ETF	-13.2%	42.72	10292026	49.19	5282026	154
RING	iShares MSCI Global Gold Miners ETF	-24.0%	70.85	10292026	93.17	8252026	65
SOXQ	Invesco PHLX Semiconductor ETF	-21.3%	90.63	10292026	115.11	6222026	129
IGOV	iShares International Treasury Bond ETF	-5.1%	40.12	10292026	42.27	5102026	172
TLT	iShares 20+ Year Treasury Bond ETF	-5.4%	81.49	10292026	86.10	6292026	122
EDV	Vanguard World Funds Extended Duration ETF	-8.5%	59.06	10292026	64.54	6242026	127
VCLT	Vanguard Long-Term Corporate Bond ETF	-5.1%	70.65	10292026	74.47	6292026	122
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-5.2%	21.02	10292026	22.18	6292026	122
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-5.1%	47.03	10292026	49.56	6292026	122
GLD	SPDR Gold Trust	-15.2%	368.57	10292026	434.65	5112026	171
IAU	iShares Gold Trust	-15.1%	75.57	10292026	89.06	5112026	171
GLDM	SPDR Gold MiniShares Trust	-15.1%	79.56	10292026	93.69	5112026	171
SLV	iShares Silver Trust	-40.4%	47.28	10292026	79.35	5132026	169
PPLT	ETFS Physical Platinum Shares	-31.0%	13.48	10292026	19.55	5132026	169
PALL	ETFS Physical Palladium Shares	-34.8%	18.22	10292026	27.96	5062026	176
UNG	United States Natural Gas Fund LP	-24.3%	9.18	10292026	12.12	6042026	147
VNQ	Vanguard Real Estate ETF	-6.2%	93.87	10292026	100.08	7282026	93
XLRE	State Street Real Estate Select Sector SPDR ETF	-6.4%	43.06	10292026	46.01	7282026	93
SCHH	Schwab U.S. REIT ETF	-7.3%	23.05	10292026	24.86	7262026	95
IYR	iShares U.S. Real Estate ETF	-7.3%	99.47	10292026	107.26	7282026	93
REET	iShares Global REIT ETF	-8.5%	26.43	10292026	28.89	7262026	95
USRT	iShares Core U.S. REIT ETF	-8.6%	63.85	10292026	69.82	7262026	95
IBIT	iShares Bitcoin Trust ETF	-6.7%	45.71	10292026	49.01	9212026	38
FBTC	Fidelity Wise Origin Bitcoin Fund	-6.7%	70.23	10292026	75.31	9212026	38
ETHA	iShares Ethereum Trust ETF	-12.7%	52.78	10292026	60.45	9282026	31

ETF Fund Flows

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

Net fund flows · as of 2026-10-29

Asset allocation rotation · Past week

Bond ETFs drew the largest net inflows (+$11.8B), followed by Equity (+$10.4B), while Cash (−$4.7B) and Commodity (−$345M) saw the largest outflows.
Within the mix, money rotated into Dividend Income (+$3.0B) and out of US Nasdaq Growth (−$1.9B).
Relative to fund size, XHB drew the largest inflow (+11.3% of AUM) and IGOV the largest outflow (−23.3%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$4.99B	+0.5%
2	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	+$1.7B	+5.5%
3	SDY	State Street SPDR S&P Dividend ETF	Equity Dividend Income	+$1.56B	+7.1%
4	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$1.38B	+0.2%
5	VT	Vanguard Total World Stock ETF	Other	+$1.31B	+1.6%
6	XLF this	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	+$1.28B	+2.5%
7	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$1.21B	+0.7%
8	SPTI	State Street SPDR Portfolio Intermediate Term Treasury ETF	Bond Intermediate Treasury	+$1.21B	+10.1%
9	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	+$1.19B	+2.8%
10	JCPB	JPMorgan Core Plus Bond ETF	Bond Core Plus Multisector	+$1.15B	+6.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	XHB	State Street SPDR S&P Homebuilders ETF	Other	+$167M	+11.3%
2	CNEQ	Alger Concentrated Equity ETF	Other	+$851M	+11.2%
3	VFMO	Vanguard U.S. Momentum Factor ETF	Other	+$202M	+10.6%
4	SPTI	State Street SPDR Portfolio Intermediate Term Treasury ETF	Bond Intermediate Treasury	+$1.21B	+10.1%
5	TBLL	Invesco Short Term Treasury ETF	Other	+$265M	+9.2%
6	LTPZ	PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund	Other	+$100M	+8.7%
7	ALAI	Alger AI Enablers & Adopters ETF	Other	+$211M	+7.8%
8	OIH	VanEck Oil Services ETF	Other	+$139M	+7.2%
9	SDY	State Street SPDR S&P Dividend ETF	Equity Dividend Income	+$1.56B	+7.1%
10	TGRT	T. Rowe Price Growth ETF	Other	+$112M	+6.9%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$6.62B	-0.8%
2	BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Cash	-$2.84B	-5.8%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$2.73B	-0.6%
4	SHV	iShares Trust iShares 0-1 Year Treasury Bond ETF	Cash	-$2.14B	-9.9%
5	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$1.71B	-2.1%
6	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.15B	-10.9%
7	IQMM	ProShares - GENIUS Money Market ETF	Other	-$1.09B	-5.9%
8	IWS	iShares Russell Mid-Cap Value ETF	Equity US Mid Cap Value	-$835M	-5.5%
9	GLD	SPDR Gold Shares	Commodity Gold	-$592M	-0.4%
10	MINT	PIMCO Enhanced Short Maturity Active Exchange-Traded Fund	Other	-$592M	-3.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	IGOV	iShares International Treasury Bond ETF	Bond International	-$303M	-23.3%
2	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.15B	-10.9%
3	SHV	iShares Trust iShares 0-1 Year Treasury Bond ETF	Cash	-$2.14B	-9.9%
4	LIT	Global X - Lithium & Battery Tech ETF	Equity Thematic	-$101M	-8.7%
5	DBA	Invesco DB Agriculture Fund	Other	-$93M	-8.0%
6	ARKW	ARK Next Generation Internet ETF	Equity Thematic	-$100M	-6.0%
7	IQMM	ProShares - GENIUS Money Market ETF	Other	-$1.09B	-5.9%
8	BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Cash	-$2.84B	-5.8%
9	IWS	iShares Russell Mid-Cap Value ETF	Equity US Mid Cap Value	-$835M	-5.5%
10	ARKB	ARK 21Shares Bitcoin ETF	Other	-$109M	-4.4%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$81.1B), followed by Bond (+$39.4B), while Commodity (−$1.1B) and Crypto (−$998M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$31.2B) and out of US Small Cap Core (−$2.0B).
Relative to fund size, CNEQ drew the largest inflow (+89.8% of AUM) and AGIX the largest outflow (−32.0%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$29.38B	+2.8%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$9.81B	+5.4%
3	MUB	iShares National Muni Bond ETF	Bond Municipal	+$6.64B	+13.2%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$5.61B	+0.8%
5	CNEQ	Alger Concentrated Equity ETF	Other	+$4.97B	+89.8%
6	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$4.54B	+8.9%
7	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$4.42B	+3.8%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$3.97B	+3.6%
9	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	+$3.81B	+13.2%
10	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$3.52B	+7.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$4.97B	+89.8%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$1.51B	+87.0%
3	ARKK	ARK Innovation ETF	Equity Thematic	+$2.44B	+37.1% ⚠
4	TAFM	Alliance Bernstein - AB Tax-Aware Intermediate Municipal ETF	Other	+$330M	+31.0%
5	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$760M	+30.8%
6	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$568M	+29.0%
7	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$368M	+28.0%
8	FLRT	Pacer Aristotle Pacific Floating Rate High Income ETF	Other	+$261M	+25.5%
9	SCMB	Schwab Municipal Bond ETF	Other	+$885M	+24.6%
10	AIS	VistaShares Artificial Intelligence Supercycle ETF	Other	+$267M	+23.9%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$5.12B	-0.6%
2	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$2.85B	-0.3%
3	DRAM	Roundhill Memory ETF	Other	-$2.65B	-12.9%
4	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$2.63B	-0.5%
5	IQMM	ProShares - GENIUS Money Market ETF	Other	-$2.52B	-13.3%
6	GLD	SPDR Gold Shares	Commodity Gold	-$2.28B	-1.6%
7	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$2.22B	-2.9%
8	MBB	iShares MBS ETF	Bond Mortgage Backed	-$1.46B	-4.1%
9	ETHA	iShares Ethereum Trust ETF	Crypto	-$1.34B	-16.1% ⚠
10	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$1.23B	-1.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	AGIX	KraneShares Public-Private AI & Technology ETF	Equity Thematic	-$338M	-32.0%
2	EUFN	iShares MSCI Europe Financials ETF	Other	-$810M	-25.2%
3	IYK	iShares U.S. Consumer Staples ETF	Other	-$378M	-23.6%
4	IYZ	iShares U.S. Telecommunications ETF	Other	-$238M	-23.6%
5	IGOV	iShares International Treasury Bond ETF	Bond International	-$287M	-22.0%
6	EWS	iShares MSCI Singapore ETF	Other	-$228M	-20.0%
7	CQQQ	Invesco China Technology ETF	Other	-$428M	-18.6%
8	EWP	iShares MSCI Spain ETF	Other	-$344M	-16.9%
9	ETHA	iShares Ethereum Trust ETF	Crypto	-$1.34B	-16.1% ⚠
10	IQMM	ProShares - GENIUS Money Market ETF	Other	-$2.52B	-13.3%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$150.9B), followed by Bond (+$79.7B), while Real Estate (−$243M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$31.3B) and out of Intermediate Treasury (−$2.0B).
Relative to fund size, CNEQ drew the largest inflow (+244.9% of AUM) and USO the largest outflow (−42.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$34.25B	+3.3%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$18.12B	+10.5%
3	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$16.73B	+2.4%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$16.66B	+15.1%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.79B	+8.8%
6	MUB	iShares National Muni Bond ETF	Bond Municipal	+$9.58B	+20.9%
7	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$8.89B	+8.4%
8	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$7.93B	+4.9%
9	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$7.83B	+16.8%
10	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$7.65B	+17.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$7.1B	+244.9%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$2.28B	+180.2%
3	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.95B	+70.3%
4	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.36B	+68.5%
5	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$692M	+68.0%
6	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.4B	+65.7%
7	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.93B	+62.8%
8	ARKK	ARK Innovation ETF	Equity Thematic	+$3.91B	+60.9% ⚠
9	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$1.13B	+58.7%
10	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$933M	+57.1%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$13.55B	-1.5%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$7.86B	-1.0%
3	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.94B	-28.9%
4	XLF this	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$4.53B	-8.3%
5	DRAM	Roundhill Memory ETF	Other	-$4.18B	-16.6%
6	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$3.09B	-7.4%
7	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.58B	-6.6%
8	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$1.91B	-2.4%
9	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$1.36B	-9.6%
10	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.32B	-4.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	USO	United States Oil Fund, LP	Commodity Energy	-$811M	-42.8%
2	MTBA	Simplify MBS ETF	Other	-$562M	-40.1%
3	IYZ	iShares U.S. Telecommunications ETF	Other	-$362M	-32.5%
4	BKAG	BNY Mellon Core Bond ETF	Other	-$706M	-31.6%
5	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$484M	-31.2%
6	IGOV	iShares International Treasury Bond ETF	Bond International	-$467M	-30.7%
7	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.94B	-28.9%
8	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$483M	-27.3%
9	CTA	Simplify Managed Futures Strategy ETF	Other	-$368M	-24.2%
10	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$290M	-22.8%

Largest ETF fund flows across ~2652 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
GKOS	Glaukos	14.3	33.6%	114.8%
ADT	ADT	7.5	33.2%	25.3%
BHC	Bausch Health Companies	3.3	28.8%	28.2%
PRCH	Porch	2.3	28.2%	128.8%
TDOC	Teladoc Health	1.6	26.9%	24.7%
CLMB	Climb Global Solutions	0.8	26.3%	62.8%
CROX	Crocs	7.4	25.5%	75.7%
PURR	Hyperliquid Strategies	1.5	23.3%	245.2%
MAX	MediaAlpha	0.8	20.6%	9.1%
UPBD	Upbound	1.2	18.2%	21.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
IOVA	Iovance Biotherapeutics	4.3	-35.4%	250.2%
BXBL	BOXABL	5.7	-26.6%	-80.7%
ALNY	Alnylam Pharmaceuticals	23.2	-25.1%	-56.2%
SFM	Sprouts Farmers Market	4.5	-22.6%	-39.8%
FTNT	Fortinet	102.0	-20.1%	75.2%
CMPR	Cimpress	1.5	-19.3%	-9.4%
ALKT	Alkami Technology	1.4	-18.3%	-45.0%
JBSS	John B Sanfilippo & Son	0.7	-14.9%	-16.6%
PRLB	Proto Labs	1.9	-14.6%	53.5%
NUAI	New Era Energy & Digital	0.3	-14.3%	-2.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
SGRY	Surgery Partners	3.0	46.0%	50.2%
REPL	Replimune	1.7	45.0%	78.9%
PURR	Hyperliquid Strategies	1.5	41.6%	245.2%
ADT	ADT	7.5	41.2%	25.3%
PACB	Pacific Biosciences of California	0.9	40.8%	55.1%
PRME	Prime Medicine	0.9	40.5%	51.0%
TDOC	Teladoc Health	1.6	38.1%	24.7%
ENVX	Enovix	0.8	37.6%	-52.0%
BHC	Bausch Health Companies	3.3	37.3%	28.2%
GKOS	Glaukos	14.3	37.2%	114.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
BCAX	Bicara Therapeutics	0.7	-44.7%	-42.2%
BXBL	BOXABL	5.7	-35.6%	-80.7%
ORIC	ORIC Pharmaceuticals	1.0	-34.0%	9.9%
IOVA	Iovance Biotherapeutics	4.3	-32.4%	250.2%
SFM	Sprouts Farmers Market	4.5	-30.3%	-39.8%
CMPR	Cimpress	1.5	-26.7%	-9.4%
INBX	Inhibrx Biosciences	1.2	-24.2%	-6.8%
ALNY	Alnylam Pharmaceuticals	23.2	-23.4%	-56.2%
INOD	Innodata	1.5	-22.7%	-9.4%
MSGS	Madison Square Garden Sports	7.4	-21.6%	18.1%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
BRZE	Braze	5.1	82.5%	33.6%
PRME	Prime Medicine	0.9	71.5%	51.0%
SGRY	Surgery Partners	3.0	67.3%	50.2%
ADT	ADT	7.5	62.3%	25.3%
FIGS	FIGS	3.6	55.6%	89.8%
BHC	Bausch Health Companies	3.3	52.8%	28.2%
TDOC	Teladoc Health	1.6	50.5%	24.7%
NTSK	Netskope	10.5	50.2%	49.3%
LQDA	Liquidia	4.0	48.7%	30.4%
GKOS	Glaukos	14.3	47.7%	114.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
GLAS	Glass House Brands	0.2	-59.4%	-74.2%
NUAI	New Era Energy & Digital	0.3	-57.5%	-2.6%
SHAZ	SharonAI	0.5	-52.1%	-71.7%
AVTX	Avalo Therapeutics	0.3	-51.5%	-59.0%
BRUN	Boost Run	0.5	-50.5%	-61.1%
CIFR	Cipher Digital	3.3	-48.8%	-45.1%
BCAX	Bicara Therapeutics	0.7	-47.7%	-42.2%
AVBP	ArriVent BioPharma	0.8	-47.3%	-20.7%
FMC	FMC	0.6	-46.7%	-65.0%
BXBL	BOXABL	5.7	-41.9%	-80.7%

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)	51.7	178.0	121.0	47.0	45.6	30.2	49.4
Expense Ratio	0.08%	0.09%	0.08%	0.08%	0.08%	0.08%	0.08%
10-D Avg Volume (Mil)	33.39	4.25	8.45	9.05	30.71	7.09	8.75
Latest Day Volume (Mil)	22.94	3.19	7.35	7.81	32.17	6.59	7.58
Holdings Count	76	310	75	61	21	83	76
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	55.91	120.93	183.24	179.26	69.32	164.62	-
Premium/Discount	1.8%	1.1%	3.0%	2.7%	-0.9%	3.3%	2.3%
Distribution Yield	1.5%	0.4%	0.4%	1.4%	2.2%	1.2%	1.3%
Sales Yield	29.6%	13.5%	11.1%	57.8%	55.8%	34.7%	32.1%
Earnings Yield	6.4%	3.0%	2.9%	2.8%	5.8%	3.8%	3.4%

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	7.4x	9.0x	1.7x	1.8x	2.9x	3.1x
P/E (TTM)	15.7x	32.9x	33.9x	35.6x	17.2x	26.4x	29.7x
P/FCF (TTM)	31.4x	43.5x	38.9x	24.9x	16.8x	28.0x	29.7x
Forward P/E	14.6x	18.9x	19.4x	19.4x	13.6x	22.6x	19.1x
Forward P/S	3.3x	5.3x	6.3x	1.6x	1.7x	2.7x	3.0x

Risk

	XLF	VGT	XLK	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Volatility (1Y)	14.5%	25.0%	26.7%	16.5%	22.2%	17.2%	19.7%
Volatility (3Y)	16.1%	24.7%	25.3%	15.0%	21.8%	16.7%	19.2%
Volatility (5Y)	18.3%	26.0%	26.0%	15.3%	25.5%	17.6%	21.9%
Beta (1Y)	0.58	1.71	1.78	0.25	-0.42	0.95	0.76
Beta (3Y)	0.77	1.51	1.51	0.44	0.44	0.91	0.84
Beta (5Y)	0.85	1.42	1.40	0.54	0.56	0.88	0.86
Sharpe Ratio (1Y)	0.65	0.96	0.98	1.59	2.25	0.69	0.97
Sharpe Ratio (3Y)	1.35	1.30	1.24	0.99	0.93	1.24	1.24
Sharpe Ratio (5Y)	0.56	0.79	0.82	0.62	0.95	0.72	0.75
Max Drawdown (1Y)	-14.8%	-16.4%	-15.9%	-10.5%	-15.0%	-12.2%	-14.9%
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	6.6%	-2.7%	-3.6%	9.3%	11.7%	1.9%	4.3%
3M Return	0.0%	8.2%	7.6%	13.2%	15.4%	-5.4%	7.9%
6M Return	9.6%	18.8%	18.5%	26.6%	16.0%	-2.3%	17.2%
YTD Return	4.9%	30.2%	31.4%	19.9%	55.8%	10.3%	25.0%
1Y Return	8.8%	23.4%	25.5%	28.2%	60.8%	10.9%	24.4%
2Y Return	24.0%	64.7%	66.5%	27.0%	61.7%	28.4%	45.0%
3Y Return	84.5%	140.3%	132.5%	51.0%	71.5%	78.7%	81.6%

Short Interest

Short Interest: As Of Date	10152026
Short Interest: Shares Quantity	137.2 Mil
Short Interest: % Change Since 9302026	-4.2%
Average Daily Volume	36.0 Mil
Days-to-Cover Short Interest	3.8 days

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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 (10/30/2026): $56.615

State Street Financial Select Sector SPDR ETF (XLF)

Market Price (10/30/2026): $56.615

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

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Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About XLF

Latest Trefis Analyses

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Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

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