XAR — State Street SPDR S&P Aerospace & Defense ETF
Industrials Ranked #270 of 458 tracked ETFs · Issued by State Street Investment Management
XAR Price Performance — Growth of $10,000
Value of a $10,000 investment in XAR over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
XAR Drawdown
The "underwater" chart: XAR's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in XAR?
See what a lump sum in XAR would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
State Street Investment Management issues the SPDR S&P Aerospace & Defense ETF (XAR), an Industrials fund tracking 5.85 billion in assets. The fund holds a C grade with a score of 57.5 out of 100, placing it fifth among nine peers in its category. Its 0.35% expense ratio aligns with the category median, though its 0.31% dividend yield trails the 0.70% industry benchmark. Concentration in the top ten holdings accounts for 30.5% of assets, with VSE Corp representing the largest single position at 3.4%.
The ETF’s rating was downgraded from B to C on August 24, 2026, reflecting shifts in its underlying metrics. While the one-year return of 17.31% slightly exceeds the category median of 17.05%, shorter-term performance shows contraction with a 11.70% decline over the past month. The fund currently trades at 47.0% of its 52-week range, sitting between $213.72 and $297.79. Historical data is available for only three years, limiting the depth of long-term trend analysis.
With a beta of 1.28, the fund exhibits higher sensitivity to market movements than the broader index. Annualized volatility stands at 29.63%, categorized as High, which coincides with a maximum drawdown of -19.73%. A Sharpe ratio of 0.42 suggests modest risk-adjusted returns relative to the volatility experienced. Liquidity is supported by an average daily volume of 213,435 shares and a bid-ask spread of 0.39%.
AI-generated summary based on the data on this page.
XAR Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | VSE Corp | 3.40% | $220M |
| 2 | Axon Enterprise Inc | 3.22% | $209M |
| 3 | StandardAero Inc | 3.11% | $201M |
| 4 | FTAI Aviation Ltd | 3.08% | $200M |
| 5 | Carpenter Technology Corp | 3.04% | $196M |
| 6 | General Electric Co | 3.02% | $195M |
| 7 | Woodward Inc | 2.98% | $193M |
| 8 | State Street Global Advisors | 2.97% | $192M |
| 9 | HEICO Corp | 2.86% | $185M |
| 10 | Moog Inc | 2.86% | $185M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 30.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how XAR's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With XAR
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with XAR's top 10 — MDYG overlaps most, holding 3 of the same companies as XAR's top 10 (9.0% of XAR's assets).
| ETF | Name | Shared Companies | XAR Weight | Examples |
|---|---|---|---|---|
| MDYG | State Street SPDR S&P 400 Mid Cap Growth ETF | 3 | 9.0% | State Street Global Advisors, Carpenter Technology Corp, Woodward Inc |
| VBK | Vanguard Morningstar Small-Cap Growth ETF | 2 | 6.1% | FTAI Aviation Ltd, Carpenter Technology Corp |
| IJK | iShares S&P Mid-Cap 400 Growth ETF | 2 | 6.0% | Carpenter Technology Corp, Woodward Inc |
| SPMD | State Street SPDR Portfolio S&P 400 Mid Cap ETF | 2 | 6.0% | State Street Global Advisors, Carpenter Technology Corp |
| IJH | iShares Core S&P Mid-Cap ETF | 1 | 3.0% | Carpenter Technology Corp |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.78% (as of 2026-09-04) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 15.30 (as of 2026-09-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What XAR's Fees Cost You
XAR charges an expense ratio of 0.35% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
XAR Dividend Income Estimator
XAR currently yields 0.31%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
XAR Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 0.39% and average daily volume is 213K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $5.85B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: XAR is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
XAR Performance History
| Period | Return |
|---|---|
| 1-Day | +0.14% |
| 1-Week | -1.27% |
| 1-Month | -11.70% |
| 3-Month | -6.56% |
| 6-Month | -10.17% |
| YTD | +1.21% |
| 1-Year | +17.31% |
| 3-Year | +121.86% |
How XAR Compares to Other Industrials ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #172 | B |
XLI | State Street Industrial Select Sector SPDR ETF | +17.05% | 0.08% | $31.9B |
| #226 | C |
ITA | iShares U.S. Aerospace & Defense ETF | +13.39% | 0.37% | $13.6B |
| #228 | C |
VIS | Vanguard Industrials Index Fund ETF Shares | +16.78% | 0.09% | $8.56B |
| #252 | C |
FIDU | Fidelity MSCI Industrials Index ETF | +17.03% | 0.084% | $2.28B |
| #270 | C |
XAR | State Street SPDR S&P Aerospace & Defense ETF | +17.31% | 0.35% | $5.85B |
| #287 | C |
PAVE | Global X U.S. Infrastructure Development ETF | +18.52% | 0.47% | $13.5B |
| #370 | C |
IYJ | iShares U.S. Industrials ETF | +10.94% | 0.37% | $1.93B |
| #374 | C |
IYT | iShares Transportation Average ETF | +19.17% | 0.37% | $2.20B |
| #399 | D |
XTN | State Street SPDR S&P Transportation ETF | +22.23% | 0.35% | $360M |