DWLD vs SPY
Davis Select Worldwide ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DWLD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.62% | 0.09% | |
| AUM | $608M | $821.1B | |
| Dividend Yield | 0.87% | 1.01% | |
| Holdings | 39 | 505 | |
| YTD Return | +1.39% | +13.17% | |
| 1Y Return | +12.38% | +21.53% | |
| 3Y Return (annualized) | +20.42% | +22.06% | |
| 5Y Return (annualized) | +10.98% | +13.35% | |
| Volatility (annualized) | 18.6% | 15.3% | |
| Max Drawdown | -39.3% | -56.5% | |
| Fund Family | Davis ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 11, 2017 | Jan 22, 1993 |
DWLD vs SPY Performance
Davis Select Worldwide ETF (DWLD) is a ETF from Davis ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DWLD returned +12.38% while SPY returned +21.53%. Year to date, DWLD is up 1.39% versus a gain of 13.17% for SPY.
Over three years, DWLD compounded at +20.42% per year against +22.06% for SPY; over five years the annualized figures are +10.98% and +13.35% respectively. Across the full 10-year window we track, DWLD has the edge at +10.71% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DWLD has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 15.3% for SPY. 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 -39.3% for DWLD 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DWLD charges 0.62% per year while SPY charges 0.09%. On a $10,000 position that is $62 vs $9 annually, a gap of $53 per year that compounds over a long holding period. On income, DWLD currently yields 0.87% against 1.01% for SPY.
Holdings Overlap
DWLD and SPY share 14 holdings out of 528 unique holdings combined, representing a 9.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DWLD or SPY?
DWLD has an expense ratio of 0.62% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $53 per year of difference.
Which performed better, DWLD or SPY?
Over the past year DWLD returned +12.38% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), DWLD annualized +10.71% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, DWLD or SPY?
DWLD has been the more volatile fund at 18.6% annualized versus 15.3% for SPY. Worst drawdown: DWLD -39.3% vs SPY -56.5%.
Should I hold both DWLD and SPY?
DWLD and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DWLD and SPY?
DWLD and SPY share 14 common holdings with a 9.2% weight overlap. Combined, they hold 528 unique securities.
Which pays a higher dividend, DWLD or SPY?
DWLD yields 0.87% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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