A head-to-head comparison of iShares U.S. Financials ETF and State Street Financial Select Sector SPDR ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on IYF.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on XLF.
Provide exposure to the fund's underlying index or strategy per issuer materials.
Asset class
Equity
Equity
Inception date
05/22/2000
12/16/1998
Beta
0.82
0.75
Last dividend
$0.3800
$0.1870
Ex-dividend date
06/15/2026
09/21/2026
Bottom lineIYF and XLF are nearly interchangeable — both track the Dow Jones Industrial Average with very similar cost and risk. The clearest tie-breaker is cost: XLF is cheaper at 0.09% vs 0.40%.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
IYF has outpaced XLF over the trailing twelve months, posting a 11.11% total return against 8.57%. The lead holds up over 10 years too: IYF has compounded at 13.66% a year, against 13.55% for XLF. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since May 2000” measures every fund from May 31, 2000 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
IYF (iShares U.S. Financials ETF) and XLF (State Street Financial Select Sector SPDR ETF) are both quarterly-pay dividend ETFs, but they take different approaches.
XLF offers the higher yield at 1.33% vs 1.14% for IYF. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
XLF is cheaper with an expense ratio of 0.09% compared to 0.40%.
They track different benchmarks: IYF is linked to Dow Jones U.S. Financials Index while XLF tracks Financial Select Sector Index, which means their performance drivers differ.
XLF is the larger fund by assets ($49.5B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, IYF would generate roughly $9.50/month, while XLF would produce $11.08/month, at current distribution rates. Both pay quarterly distributions.
IYF yield1.14%
XLF yield1.33%
Monthly diff on $10K$1.58
Cost & efficiency
Over 10 years on $10,000, IYF would cost approximately $400 in fees vs $90 for XLF (simplified, not compounded). The $310.00 difference may be offset by yield or performance.
IYF ER0.40%
XLF ER0.09%
Strategy & risk
IYF tracks Dow Jones U.S. Financials Index, while XLF tracks Financial Select Sector Index with an index approach. Beta is 0.82 for IYF and 0.75 for XLF, indicating XLF is less volatile relative to the market.
IYF beta0.82
XLF beta0.75
Fund details
IYF is managed by iShares (launched 05/22/2000) with $3.55B in assets. XLF is managed by State Street (launched 12/16/1998) with $49.5B in assets.
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Frequently asked questions
Is IYF or XLF better for dividend income?
It depends on your goals. XLF currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between IYF and XLF?
IYF (iShares U.S. Financials ETF) tracks Dow Jones U.S. Financials Index, while XLF (State Street Financial Select Sector SPDR ETF) tracks Financial Select Sector Index with an index approach. They are issued by iShares and State Street respectively.
Can I hold both IYF and XLF?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, IYF or XLF?
IYF has an expense ratio of 0.40% while XLF charges 0.09%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in IYF vs XLF generate?
At current rates, $10,000 in IYF would generate roughly $9.50 per month ($114.00 annually). The same in XLF would produce about $11.08 per month ($133.00 annually).
Which has performed better historically, IYF or XLF?
IYF has outpaced XLF over the trailing twelve months, posting a 11.11% total return against 8.57%. The lead holds up over 10 years too: IYF has compounded at 13.66% a year, against 13.55% for XLF. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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