CWI vs QQQ
State Street SPDR MSCI ACWI ex-US ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. CWI offers more diversification with 1,156 holdings.
Side-by-Side Comparison
| Metric | CWI | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.18% | |
| AUM | $2.9B | $496.3B | |
| Dividend Yield | 2.71% | 0.44% | |
| Holdings | 1,156 | 108 | |
| YTD Return | +14.20% | +17.07% | |
| 1Y Return | +26.11% | +26.39% | |
| 3Y Return (annualized) | +21.15% | +26.08% | |
| 5Y Return (annualized) | +10.32% | +15.18% | |
| Volatility (annualized) | 17.6% | 30.6% | |
| Max Drawdown | -62.4% | -83.0% | |
| Fund Family | SPDR State Street Global Advisors | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 10, 2007 | Mar 10, 1999 |
CWI vs QQQ Performance
State Street SPDR MSCI ACWI ex-US ETF (CWI) is a ETF from SPDR State Street Global Advisors and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CWI returned +26.11% while QQQ returned +26.39%. Year to date, CWI is up 14.20% versus a gain of 17.07% for QQQ.
Over three years, CWI compounded at +21.15% per year against +26.08% for QQQ; over five years the annualized figures are +10.32% and +15.18% respectively. Across the full 20-year window we track, QQQ has the edge at +13.05% annualized vs +3.56%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 17.6% for CWI. 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 -83.0% for QQQ. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWI charges 0.30% per year while QQQ charges 0.18%. On a $10,000 position that is $30 vs $18 annually, a gap of $12 per year that compounds over a long holding period. On income, CWI currently yields 2.71% against 0.44% for QQQ.
Holdings Overlap
CWI and QQQ share 6 holdings out of 1211 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CWI or QQQ?
CWI has an expense ratio of 0.30% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, CWI or QQQ?
Over the past year CWI returned +26.11% vs +26.39% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), CWI annualized +3.56% vs +13.05% for QQQ. Past performance does not guarantee future results.
Which is riskier, CWI or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 17.6% for CWI. Worst drawdown: CWI -62.4% vs QQQ -83.0%.
Should I hold both CWI and QQQ?
CWI and QQQ have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CWI and QQQ?
CWI and QQQ share 6 common holdings with a 1.5% weight overlap. Combined, they hold 1211 unique securities.
Which pays a higher dividend, CWI or QQQ?
CWI yields 2.71% while QQQ yields 0.44%, so CWI currently pays the higher dividend yield.
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