XLF
State Street Financial Select Sector SPDR ETF
#5 of 11 in US Sectors by own-history percentile (high → low)
Relative to SPY
Relative price history
XLF ÷ SPY, 10-year range, as of Jul 17, 2026
How the reading moved
These changes re-score an older XLF÷SPY ratio against today's 10-year window, so they show whether the relative price has drifted toward the highs or lows of its own history — not a peer ranking and not a return forecast.
- About one week: +10.0 pts (from 1.5% on Jun 30, 2026 to 11.5% now)
- About one month: +11.2 pts (from 0.3% on May 29, 2026 to 11.5% now)
US Sectors
Where this sits among peers
US Sectors · XLF highlighted · same axes as the category chart on the home page
Top holdings
Holdings snapshot as of Jul 17, 2026.
What moves this
XLF's relative valuation tracks the interest-rate and credit cycle closely: bank earnings expand and contract with net interest margins, and post-crisis capital requirements structurally cap how much of that earnings growth converts into a valuation re-rating.
FAQ
Why is financials' relative price so tied to interest rates?
Bank profitability is largely a spread between what they pay depositors and earn on loans, so rate-cycle turns show up quickly in earnings and, in turn, in the sector's price relative to the broader market.
Does XLF include insurance companies, not just banks?
Yes — the sector spans banks, insurers, and capital-markets firms, which don't all respond to rates the same way, so the sector ratio blends several distinct rate sensitivities.
Would a banking-specific event show up here immediately?
A sector-wide event (like a regional-bank liquidity scare) typically does; an isolated single-company issue is more likely to be absorbed without moving the sector ratio much.
US Sectors
Related in this category
- XLCState Street Communication Services Select Sector SPDR ETFNear lows (15.7%)
- XLVState Street Health Care Select Sector SPDR ETFNear lows (6%)
- XLREState Street Real Estate Select Sector SPDR ETFNear lows (5.2%)
- XLUState Street Utilities Select Sector SPDR ETFNear lows (4.3%)
- XLBState Street Materials Select Sector SPDR ETFNear lows (3.7%)
- XLPState Street Consumer Staples Select Sector SPDR ETFNear lows (3.4%)