Overview
The full US industrial complex — aerospace, defence, machinery, transport and electrical equipment, around 400 companies of every size.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| GE | GE Aerospace | 4.9% |
| CAT | Caterpillar Inc. | 3.6% |
| RTX | RTX Corp. | 3.4% |
| UBER | Uber Technologies | 3.2% |
| BA | Boeing Co. | 2.9% |
| ETN | Eaton Corp. | 2.8% |
| HON | Honeywell Intl | 2.6% |
| UNP | Union Pacific | 2.4% |
| DE | Deere & Co. | 2.3% |
| LMT | Lockheed Martin | 2.1% |
Fund Details
Investment Thesis
Every major theme of the decade lands on the industrials: defence rearmament, grid electrification, data-centre construction, reshored factories and the aerospace upcycle. VIS owns the whole complex down to the mid-cap electrical-equipment makers that sector-fund rivals cap out of, at Vanguard's 0.09%. The +15% year reflects a sector that quietly became a growth story.
Who It's For
Investors playing the capex super-cycle broadly rather than through a single theme fund, with small- and mid-cap torque included. The full-spectrum alternative to XLI.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $109.61 | -- |
| 2017 | $132.63 | +21.0% |
| 2018 | $115.39 | -13.0% |
| 2019 | $148.85 | +29.0% |
| 2020 | $166.71 | +12.0% |
| 2021 | $200.06 | +20.0% |
| 2022 | $186.05 | -7.0% |
| 2023 | $225.12 | +21.0% |
| 2024 | $263.39 | +17.0% |
| 2025 | $295.00 | +12.0% |
| Year | Yield |
|---|---|
| 2016 | 1.90% |
| 2017 | 1.70% |
| 2018 | 2.00% |
| 2019 | 1.70% |
| 2020 | 1.50% |
| 2021 | 1.20% |
| 2022 | 1.50% |
| 2023 | 1.40% |
| 2024 | 1.10% |
| 2025 | 1.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $2.2B | -- |
| 2017 | $3B | +36.4% |
| 2018 | $3.5B | +16.7% |
| 2019 | $3.8B | +8.6% |
| 2020 | $4B | +5.3% |
| 2021 | $5B | +25.0% |
| 2022 | $4.5B | -10.0% |
| 2023 | $5B | +11.1% |
| 2024 | $6.5B | +30.0% |
| 2025 | $7.5B | +15.4% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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