XME vs SLX Stock Comparison: AI Score, Valuation, Performance and Upside
XME and SLX sit in related but distinct corners of the ETF landscape — XME centers on equal-weighted exposure to steel, mining, and industrial metals producers, while SLX focuses on concentrated, global exposure to the steel industry specifically. Investors choosing between them should weigh how each fund's strategy lines up with their own goals rather than assuming they're interchangeable.
Choosing between XME and SLX comes down to which specific exposure — equal-weighted exposure to steel, mining, and industrial metals producers or concentrated, global exposure to the steel industry specifically — better matches the role you want this holding to play in a diversified portfolio.
SLX holds the edge across 3 of 5 key metrics in this comparison. SLX has delivered stronger 1-year price return (+26.20% vs +2.91% for XME).
- want equal-weighted exposure to steel, mining, and industrial metals producers
- prefer State Street's approach and fund lineup
- value equal weighting avoids domination by a few large miners
- are comfortable with highly cyclical and commodity-price-sensitive
- want concentrated, global exposure to the steel industry specifically
- prefer VanEck's approach and fund lineup
- value global reach beyond just US steelmakers
- are comfortable with very small, concentrated fund with few holdings
| Metric | XME | SLX |
|---|---|---|
| ETF scorei | 27.0 | 27.5 |
| Latest closei | $93.45 | $96.30 |
| 1M returni | -10.86% | -5.98% |
| 3M returni | -19.20% | -12.47% |
| 6M returni | -22.63% | -10.96% |
| 1Y returni | +2.91% | +26.20% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | XME | SLX |
|---|---|---|
| 1Y ago | $10.32K (+3.2%) started 2025-11-06 | $12.82K (+28.2%) started 2025-11-06 |
| 5Y ago | $21.88K (+118.8%) started 2021-11-08 | $25.62K (+156.2%) started 2021-11-08 |
| 10Y ago | $45.37K (+353.7%) started 2016-11-07 | $58.68K (+486.8%) started 2016-11-07 |
Hypothetical — past performance does not guarantee future results.
| Metric | XME | SLX |
|---|---|---|
| Expense ratioi | 0.35% | 0.55% |
| Total assets (AUM)i | $3.69B | $150.56M |
| Dividend yieldi | 0.35% | 1.32% |
| Trailing P/Ei | 17.13 | 15.55 |
| Betai | 1.37 | 1.29 |
| 52-week change | 2.91% | 26.20% |
| Metric | XME | SLX |
|---|---|---|
| 1Y returni | +2.91% | +26.20% |
| 6M returni | -22.63% | -10.96% |
| 3M returni | -19.20% | -12.47% |
| 1M returni | -10.86% | -5.98% |
| 1Y Sharpe ratio | 0.15 | 0.90 |
| Betai | 1.37 | 1.29 |
| Dividend yieldi | 0.35% | 1.32% |
| 5Y CAGR | +15.94% | +15.64% |
Over the past year, XME and SLX have moved strongly in the same direction (correlation of 0.79), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | XME | SLX |
|---|---|---|---|
| 1Y | Growthi | +2.91% | +26.20% |
| CAGRi | +2.91% | +26.22% | |
| Volatilityi | 37.64% | 24.20% | |
| Sharpe ratioi | 0.15 | 0.90 | |
| Sortino ratioi | 0.20 | 1.32 | |
| Max drawdowni | 31.84% | 16.35% | |
| Current drawdowni | 29.55% | 15.21% | |
| Avg drawdowni | 12.20% | 5.23% | |
| Ulcer Indexi | 14.61% | 7.00% | |
| Max daily dropi | 7.81% | 4.87% | |
| Max wkly dropi | 12.60% | 9.72% | |
| 5Y | Growthi | +109.27% | +106.61% |
| CAGRi | +15.94% | +15.64% | |
| Volatilityi | 32.98% | 27.25% | |
| Sharpe ratioi | 0.48 | 0.51 | |
| Sortino ratioi | 0.68 | 0.74 | |
| Max drawdowni | 37.27% | 33.62% | |
| Current drawdowni | 29.55% | 15.21% | |
| Avg drawdowni | 13.55% | 9.13% | |
| Ulcer Indexi | 16.18% | 11.69% | |
| Max daily dropi | 7.81% | 6.99% | |
| Max wkly dropi | 16.54% | 16.27% | |
| 10Y | Growthi | +298.53% | +294.54% |
| CAGRi | +14.83% | +14.72% | |
| Volatilityi | 33.00% | 30.48% | |
| Sharpe ratioi | 0.45 | 0.46 | |
| Sortino ratioi | 0.64 | 0.65 | |
| Max drawdowni | 61.69% | 61.90% | |
| Current drawdowni | 29.55% | 15.21% | |
| Avg drawdowni | 15.73% | 13.44% | |
| Ulcer Indexi | 19.64% | 17.59% | |
| Max daily dropi | 14.85% | 14.48% | |
| Max wkly dropi | 28.53% | 29.15% |
| Category | XME | SLX |
|---|---|---|
| Fund name | State Street SPDR S&P Metals & Mining ETF | VanEck Steel ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.35% | 0.55% |
| Total assets (AUM)i | $3.69B | $150.56M |
| Dividend yieldi | 0.35% | 1.32% |
- Equal weighting avoids domination by a few large miners
- Direct exposure to industrial metals and steel-price cycles
- Can benefit from infrastructure spending and reshoring trends
- Global reach beyond just US steelmakers
- Direct, pure-play exposure to steel prices and demand
- Can benefit sharply from infrastructure and tariff-driven demand
- Highly cyclical and commodity-price-sensitive
- Small, concentrated industry with volatile earnings
- Global demand shifts, especially from China, drive returns
- Very small, concentrated fund with few holdings
- Highly cyclical and tied to global industrial demand
- Steel tariffs and trade policy can swing returns abruptly
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Volatility, Sharpe and Sortino ratios, maximum, current, and average drawdown, Ulcer Index, and worst single-day and single-week drops across every timeframe.
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