VIS alternatives and similar ETFs

The ETFs most like VIS are XLI, SCHV and IWD. XLI holds US makers of machines and airplanes, railroads and other industrial companies, like VIS. XLI costs less: 0.08% a year against 0.09%.

Written by the Tactfolio research team. Fund facts checked October 17, 2026. Prices through October 16, 2026.

Key points

  • 8 funds can stand in for VIS: 1 of the same kind and 7 related funds.
  • VIS charges 0.09% a year (about $9 on $10,000). The cheapest alternative here, VTV, charges 0.03%.
  • XLI moved most like VIS: a daily correlation of 0.99 over about the last five years.
  • Returns and drops for each pair use the same dates for both funds.

VIS alternatives at a glance#

Each fund below can stand in for VIS, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

ETFHow closeYearly feeFee on $10,000Tracks
VISThis fund0.09%$9MSCI US Investable Market Industrials 25/50 Index
XLISame kind of fund0.08%$8Industrial Select Sector Index
SCHVRelated fund0.04%$4Dow Jones U.S. Large-Cap Value Total Stock Market Index
IWDRelated fund0.18%$18Russell 1000 Value Index
VTVRelated fund0.03%$3Morningstar US Large Cap Value Index
SPYVRelated fund0.04%$4S&P 500 Value Index
IVERelated fund0.18%$18S&P 500 Value Index
VAWRelated fund0.09%$9MSCI US Investable Market Materials 25/50 Index
XLBRelated fund0.08%$8Materials Select Sector Index

Fees come from each fund company, checked on the dates shown on each fund’s page.

How VIS and its alternatives did over the same dates#

$10k$20k$50k201020132016201920222025
VISXLISCHVIWDGrowth of $10,000, log scale, with dividends reinvested. Past results do not tell you what happens next.

Each row measures the alternative and VIS on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

ETFMoves with VISPer yearVIS per yearWorst dropVIS worst dropSince
XLI0.9910.5%10.5%−62.3%−63.5%September 2004
SCHV0.9111.5%13.0%−37.1%−42.4%December 2009
IWD0.909.2%10.5%−60.1%−63.5%September 2004
VTV0.899.8%10.5%−59.3%−63.5%September 2004
SPYV0.879.1%10.5%−58.5%−63.5%September 2004
IVE0.879.0%10.5%−61.3%−63.5%September 2004
VAW0.858.7%10.5%−62.2%−63.5%September 2004
XLB0.828.5%10.5%−59.8%−63.5%September 2004

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each VIS alternative, compared#

XLI: State Street Industrial Select Sector SPDR ETF#

XLI also holds US makers of machines and airplanes, railroads and other industrial companies. It tracks the Industrial Select Sector Index, while VIS tracks the MSCI US Investable Market Industrials 25/50 Index.

It charges 0.08% a year, about $8 on $10,000, against $9 for VIS. It held 83 stocks, against 396 for VIS.

From September 2004 to October 2026, XLI returned about 10.5% a year and VIS returned about 10.5% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the XLI fund page for its returns by year and worst drop.

SCHV: Schwab U.S. Large-Cap Value ETF#

SCHV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.04% a year, about $4 on $10,000, against $9 for VIS. It held 555 stocks, against 396 for VIS.

From December 2009 to October 2026, SCHV returned about 11.5% a year and VIS returned about 13.0% a year. Over about the last five years they moved together on most days (correlation 0.91).

Read the SCHV fund page for its returns by year and worst drop.

IWD: iShares Russell 1000 Value ETF#

IWD is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.18% a year, about $18 on $10,000, against $9 for VIS. It held 870 stocks, against 396 for VIS.

From September 2004 to October 2026, IWD returned about 9.2% a year and VIS returned about 10.5% a year. Over about the last five years they moved together on most days (correlation 0.90).

Read the IWD fund page for its returns by year and worst drop.

VTV: Vanguard Morningstar Value ETF#

VTV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.03% a year, about $3 on $10,000, against $9 for VIS. It held 298 stocks, against 396 for VIS.

From September 2004 to October 2026, VTV returned about 9.8% a year and VIS returned about 10.5% a year. Over about the last five years they moved together on most days (correlation 0.89).

Read the VTV fund page for its returns by year and worst drop.

SPYV: State Street SPDR Portfolio S&P 500 Value ETF#

SPYV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.04% a year, about $4 on $10,000, against $9 for VIS. It held 435 stocks, against 396 for VIS.

From September 2004 to October 2026, SPYV returned about 9.1% a year and VIS returned about 10.5% a year. Over about the last five years they moved together on most days (correlation 0.87).

Read the SPYV fund page for its returns by year and worst drop.

IVE: iShares S&P 500 Value ETF#

IVE is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.18% a year, about $18 on $10,000, against $9 for VIS. It held 436 stocks, against 396 for VIS.

From September 2004 to October 2026, IVE returned about 9.0% a year and VIS returned about 10.5% a year. Over about the last five years they moved together on most days (correlation 0.87).

Read the IVE fund page for its returns by year and worst drop.

VAW: Vanguard Materials ETF#

VAW is a looser match. It holds US makers of chemicals, metals, paper and packaging, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.09% a year, about $9 on $10,000, against $9 for VIS. It held 110 stocks, against 396 for VIS.

From September 2004 to October 2026, VAW returned about 8.7% a year and VIS returned about 10.5% a year. Over about the last five years they moved together on most days (correlation 0.85).

Read the VAW fund page for its returns by year and worst drop.

XLB: State Street Materials Select Sector SPDR ETF#

XLB is a looser match. It holds US makers of chemicals, metals, paper and packaging, while VIS holds US makers of machines and airplanes, railroads and other industrial companies.

It charges 0.08% a year, about $8 on $10,000, against $9 for VIS. It held 24 stocks, against 396 for VIS.

From September 2004 to October 2026, XLB returned about 8.5% a year and VIS returned about 10.5% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the XLB fund page for its returns by year and worst drop.

VIS versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to VIS from each other company on this page:

  • SPDR (State Street): XLI, State Street Industrial Select Sector SPDR ETF (same kind of fund, 0.08% a year)
  • Schwab: SCHV, Schwab U.S. Large-Cap Value ETF (related fund, 0.04% a year)
  • iShares (BlackRock): IWD, iShares Russell 1000 Value ETF (related fund, 0.18% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between VIS and its alternatives#

  • What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
  • The fee. The difference is often small. On $10,000, VIS costs about $9 a year. VTV costs about $3.
  • History. An older fund has been through more bad markets, so you can see how far it fell.
  • What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping VIS to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as XLI, SCHV or IWD, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test VIS and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add VIS and XLI, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as VIS. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like VIS over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with VIS only on days both traded. Read what a backtest simulates for more on these measures.

Research and test it

Common questions#

What ETF is most similar to VIS?#

XLI is the closest. XLI also holds US makers of machines and airplanes, railroads and other industrial companies. It tracks the Industrial Select Sector Index, while VIS tracks the MSCI US Investable Market Industrials 25/50 Index. Over about the last five years they moved almost exactly together.

Is there a cheaper alternative to VIS?#

Yes. VTV charges 0.03% a year, SCHV charges 0.04% a year and SPYV charges 0.04% a year, against 0.09% for VIS. On $10,000 that is about $3 a year instead of $9.

Is VIS or XLI better?#

Neither is better for everyone. From September 2004 to October 2026, VIS returned about 10.5% a year and XLI returned about 10.5% a year. VIS charges 0.09% a year and XLI charges 0.08%. Past returns do not tell you what comes next.

What if I had put $10,000 in VIS 10 years ago?#

It would have grown to about $34,217 by October 16, 2026, with dividends reinvested. That is about 13.1% a year. Past returns do not tell you what comes next.

Sources#