Overview
Covers US industrial companies — aerospace, defense, machinery, and transportation. Top
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| GE | GE Aerospace | 5.8% |
| CAT | Caterpillar Inc. | 5.4% |
| HON | Honeywell Intl. | 4.8% |
| UPS | United Parcel Svc | 4.4% |
| RTX | RTX Corp. | 4.2% |
| DE | Deere & Company | 3.8% |
| LMT | Lockheed Martin | 3.4% |
| ETN | Eaton Corp. | 3.2% |
| WM | Waste Management | 2.9% |
| EMR | Emerson Electric | 2.7% |
Fund Details
Investment Thesis
The industrial sector is the backbone of the physical economy, benefiting from multiple secular tailwinds simultaneously: US manufacturing reshoring, record federal infrastructure investment, defense budget expansion, and the AI-driven data center construction boom. XLI's diversified holdings span aerospace, defense, machinery, transportation, and industrial technology, providing broad exposure to the physical economy's renaissance.
Who It's For
Investors seeking cyclical exposure to the physical economy, US manufacturing revival, and infrastructure spending themes. XLI suits those bullish on domestic capex cycles and investors who want to diversify away from pure technology exposure. The sector's defense weighting provides an element of geopolitical risk hedging within a broader equity allocation.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $60.12 | -- |
| 2017 | $72.54 | +20.7% |
| 2018 | $68.82 | -5.1% |
| 2019 | $82.14 | +19.4% |
| 2020 | $84.62 | +3.0% |
| 2021 | $103.28 | +22.1% |
| 2022 | $98.42 | -4.7% |
| 2023 | $112.34 | +14.1% |
| 2024 | $133.82 | +19.1% |
| 2025 | $136.58 | +2.1% |
| Year | Yield |
|---|---|
| 2016 | 1.62% |
| 2017 | 1.48% |
| 2018 | 1.68% |
| 2019 | 1.52% |
| 2020 | 1.44% |
| 2021 | 1.28% |
| 2022 | 1.56% |
| 2023 | 1.38% |
| 2024 | 1.32% |
| 2025 | 1.36% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $8B | -- |
| 2017 | $11B | +37.5% |
| 2018 | $10B | -9.1% |
| 2019 | $13B | +30.0% |
| 2020 | $14B | +7.7% |
| 2021 | $18B | +28.6% |
| 2022 | $17B | -5.6% |
| 2023 | $20B | +17.6% |
| 2024 | $24B | +20.0% |
| 2025 | $25B | +4.2% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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