CWI vs IVV
State Street SPDR MSCI ACWI ex-US ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. CWI delivered stronger 1-year returns. CWI offers more diversification with 1,156 holdings.
Side-by-Side Comparison
| Metric | CWI | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.03% | |
| AUM | $2.9B | $907.0B | |
| Dividend Yield | 2.71% | 1.10% | |
| Holdings | 1,156 | 508 | |
| YTD Return | +13.62% | +12.96% | |
| 1Y Return | +25.17% | +20.70% | |
| 3Y Return (annualized) | +20.97% | +22.10% | |
| 5Y Return (annualized) | +9.93% | +13.40% | |
| Volatility (annualized) | 17.6% | 15.1% | |
| Max Drawdown | -62.4% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 10, 2007 | May 15, 2000 |
CWI vs IVV Performance
State Street SPDR MSCI ACWI ex-US ETF (CWI) is a ETF from SPDR State Street Global Advisors and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CWI returned +25.17% while IVV returned +20.70%. Year to date, CWI is up 13.62% versus a gain of 12.96% for IVV.
Over three years, CWI compounded at +20.97% per year against +22.10% for IVV; over five years the annualized figures are +9.93% and +13.40% respectively. Across the full 20-year window we track, IVV has the edge at +7.01% annualized vs +3.53%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CWI has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -62.4% for CWI and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWI charges 0.30% per year while IVV charges 0.03%. On a $10,000 position that is $30 vs $3 annually, a gap of $27 per year that compounds over a long holding period. On income, CWI currently yields 2.71% against 1.10% for IVV.
Holdings Overlap
CWI and IVV share 0 holdings out of 1620 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CWI or IVV?
CWI has an expense ratio of 0.30% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, CWI or IVV?
Over the past year CWI returned +25.17% vs +20.70% for IVV, so CWI leads on 1-year performance. Over the longest common window we track (20 years), CWI annualized +3.53% vs +7.01% for IVV. Past performance does not guarantee future results.
Which is riskier, CWI or IVV?
CWI has been the more volatile fund at 17.6% annualized versus 15.1% for IVV. Worst drawdown: CWI -62.4% vs IVV -56.5%.
Should I hold both CWI and IVV?
CWI and IVV have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CWI and IVV?
CWI and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1620 unique securities.
Which pays a higher dividend, CWI or IVV?
CWI yields 2.71% while IVV yields 1.10%, so CWI currently pays the higher dividend yield.
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