DBAW vs SPY
Xtrackers MSCI All World ex US Hedged Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DBAW delivered stronger 1-year returns. DBAW offers more diversification with 1,830 holdings.
Side-by-Side Comparison
| Metric | DBAW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.09% | |
| AUM | $304M | $821.1B | |
| Dividend Yield | 1.73% | 1.01% | |
| Holdings | 1,830 | 505 | |
| YTD Return | +16.56% | +14.24% | |
| 1Y Return | +29.76% | +21.71% | |
| 3Y Return (annualized) | +21.77% | +22.10% | |
| 5Y Return (annualized) | +12.73% | +13.21% | |
| Volatility (annualized) | 12.2% | 15.3% | |
| Max Drawdown | -31.4% | -56.5% | |
| Fund Family | Xtrackers ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 2014 | Jan 22, 1993 |
DBAW vs SPY Performance
Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) is a ETF from Xtrackers ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DBAW returned +29.76% while SPY returned +21.71%. Year to date, DBAW is up 16.56% versus a gain of 14.24% for SPY.
Over three years, DBAW compounded at +21.77% per year against +22.10% for SPY; over five years the annualized figures are +12.73% and +13.21% respectively. Across the full 13-year window we track, SPY has the edge at +8.86% annualized vs +7.77%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.2% for DBAW. 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 -31.4% for DBAW and -56.5% for SPY. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DBAW charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, DBAW currently yields 1.73% against 1.01% for SPY.
Holdings Overlap
DBAW and SPY share 1 holdings out of 2254 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in DBAW | Weight in SPY | Difference |
|---|---|---|---|
| HAL | 0.02% | 0.04% | 0.02% |
Frequently Asked Questions
Which is cheaper, DBAW or SPY?
DBAW has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, DBAW or SPY?
Over the past year DBAW returned +29.76% vs +21.71% for SPY, so DBAW leads on 1-year performance. Over the longest common window we track (13 years), DBAW annualized +7.77% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, DBAW or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.2% for DBAW. Worst drawdown: DBAW -31.4% vs SPY -56.5%.
Should I hold both DBAW and SPY?
DBAW and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DBAW and SPY?
DBAW and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 2254 unique securities.
Which pays a higher dividend, DBAW or SPY?
DBAW yields 1.73% while SPY yields 1.01%, so DBAW currently pays the higher dividend yield.
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