CWI vs VOO
State Street SPDR MSCI ACWI ex-US ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO 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 | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.03% | |
| AUM | $2.9B | $997.4B | |
| Dividend Yield | 2.71% | 1.08% | |
| Holdings | 1,156 | 509 | |
| YTD Return | +13.62% | +12.95% | |
| 1Y Return | +25.17% | +20.69% | |
| 3Y Return (annualized) | +20.97% | +22.09% | |
| 5Y Return (annualized) | +9.93% | +13.40% | |
| Volatility (annualized) | 17.6% | 14.1% | |
| Max Drawdown | -62.4% | -34.3% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 10, 2007 | Sep 7, 2010 |
CWI vs VOO Performance
State Street SPDR MSCI ACWI ex-US ETF (CWI) is a ETF from SPDR State Street Global Advisors and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CWI returned +25.17% while VOO returned +20.69%. Year to date, CWI is up 13.62% versus a gain of 12.95% for VOO.
Over three years, CWI compounded at +20.97% per year against +22.09% for VOO; over five years the annualized figures are +9.93% and +13.40% respectively. Across the full 16-year window we track, VOO has the edge at +13.50% 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 14.1% for VOO. 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 -34.3% for VOO. 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWI charges 0.30% per year while VOO 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 1.08% for VOO.
Holdings Overlap
CWI and VOO 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 VOO?
CWI has an expense ratio of 0.30% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, CWI or VOO?
Over the past year CWI returned +25.17% vs +20.69% for VOO, so CWI leads on 1-year performance. Over the longest common window we track (16 years), CWI annualized +3.53% vs +13.50% for VOO. Past performance does not guarantee future results.
Which is riskier, CWI or VOO?
CWI has been the more volatile fund at 17.6% annualized versus 14.1% for VOO. Worst drawdown: CWI -62.4% vs VOO -34.3%.
Should I hold both CWI and VOO?
CWI and VOO have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CWI and VOO?
CWI and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1620 unique securities.
Which pays a higher dividend, CWI or VOO?
CWI yields 2.71% while VOO yields 1.08%, so CWI currently pays the higher dividend yield.
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