CWI vs VTI
State Street SPDR MSCI ACWI ex-US ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, CWI or VTI?
Each has led over a different period.
VTI has a lower expense ratio. CWI led over 1Y and 3Y, VTI over 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CWI | VTI |
|---|---|---|
| Expense Ratio | 0.30% | 0.03%Best |
| AUM | $2.9B | $666.9B |
| Dividend Yield | 2.64% | 1.03% |
| Holdings | 1,181 | 3,543 |
| YTD Return | +14.53%Best | +12.34% |
| 1Y Return | +24.70%Best | +18.37% |
| 3Y Return (annualized) | +20.65%Best | +20.62% |
| 5Y Return (annualized) | +9.64% | +11.68%Best |
| Volatility (annualized) | 17.6% | 15.9%Best |
| Max Drawdown | -62.4% | -56.6%Best |
| $10,000 over 5 years | $15,843 | $17,373Best |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 10, 2007 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 17, 2007 to Sep 9, 2026 (19.6 years).
CWI vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.6 years both funds cover.
CWI vs VTI Performance
State Street SPDR MSCI ACWI ex-US ETF (CWI) is an ETF from SPDR State Street Global Advisors and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year CWI returned +24.70% while VTI returned +18.37%. Year to date, CWI is up 14.53% versus a gain of 12.34% for VTI.
Over three years, CWI compounded at +20.65% per year against +20.62% for VTI; over five years the annualized figures are +9.64% and +11.68% respectively. Across the full 20-year window we track, VTI has the edge at +9.28% annualized vs +3.56%.
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 15.9% for VTI. 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 -56.6% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWI charges 0.30% per year while VTI 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 2.64% against 1.03% for VTI.
Holdings Overlap
At least 0.7% of CWI's money is in holdings VTI also owns.
Stated as a floor: for VTI, our book for it covers 90.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
9 positions in common, counted across the 1,087 positions we hold weights for in CWI and 2,787 in VTI, against full books of 1,181 and 3,543.
Top Shared Holdings
| Stock | Weight in CWI | Weight in VTI | Difference |
|---|---|---|---|
| AI:PAAir Liquide Sa | 0.40% | 0.00% | 0.40% |
| UMG:ASUniversal Music Group NV | 0.05% | 0.05% | 0.00% |
| BHEBharat Electronics Ltd Common Stock Inr1.0 | 0.08% | 0.00% | 0.08% |
| EQTEqt Corp | 0.02% | 0.05% | 0.03% |
| HAL:MBHindustan Aeronautics Ltd Common Stock Inr5.0 | 0.03% | 0.04% | 0.01% |
| RBA:CARb Global Inc | 0.04% | 0.03% | 0.01% |
| MTX:SGMtu Aero Engines Ag | 0.04% | 0.00% | 0.04% |
| SIG:AUSigma Pharmaceuticals Ltd | 0.01% | 0.00% | 0.01% |
| FBK:MIFinecobank S.P.A. | 0.01% | 0.00% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of CWI and VTI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CWI or VTI?
CWI has an expense ratio of 0.30% while VTI charges 0.03%. VTI is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, CWI or VTI?
Over the past year CWI returned +24.70% vs +18.37% for VTI, so CWI leads on 1-year performance. Over the longest common window we track (20 years), CWI annualized +3.56% vs +9.28% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CWI or VTI?
CWI has been the more volatile fund at 17.6% annualized versus 15.9% for VTI. Worst drawdown: CWI -62.4% vs VTI -56.6%.
Should I hold both CWI and VTI?
CWI and VTI have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CWI or VTI?
CWI yields 2.64% while VTI yields 1.03%, so CWI currently pays the higher dividend yield.
Is VTI better than CWI?
VTI has a lower expense ratio. CWI led over 1Y and 3Y, VTI over 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.