DWM vs SPY
WisdomTree International Equity Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. DWM offers more diversification with 1,426 holdings.
Side-by-Side Comparison
| Metric | DWM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.09% | |
| AUM | $693M | $821.1B | |
| Dividend Yield | 2.69% | 1.01% | |
| Holdings | 1,426 | 505 | |
| YTD Return | +11.51% | +12.22% | |
| 1Y Return | +18.03% | +20.83% | |
| 3Y Return (annualized) | +19.56% | +21.70% | |
| 5Y Return (annualized) | +10.73% | +12.98% | |
| Volatility (annualized) | 16.9% | 15.3% | |
| Max Drawdown | -64.3% | -56.5% | |
| Fund Family | WisdomTree Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 16, 2006 | Jan 22, 1993 |
DWM vs SPY Performance
WisdomTree International Equity Fund (DWM) is a ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DWM returned +18.03% while SPY returned +20.83%. Year to date, DWM is up 11.51% versus a gain of 12.22% for SPY.
Over three years, DWM compounded at +19.56% per year against +21.70% for SPY; over five years the annualized figures are +10.73% and +12.98% respectively. Across the full 20-year window we track, SPY has the edge at +8.79% annualized vs +3.14%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DWM has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -64.3% for DWM 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DWM charges 0.48% per year while SPY charges 0.09%. On a $10,000 position that is $48 vs $9 annually, a gap of $39 per year that compounds over a long holding period. On income, DWM currently yields 2.69% against 1.01% for SPY.
Holdings Overlap
DWM and SPY share 1 holdings out of 1717 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in DWM | Weight in SPY | Difference |
|---|---|---|---|
| ORCL | 0.05% | 0.37% | 0.32% |
Frequently Asked Questions
Which is cheaper, DWM or SPY?
DWM has an expense ratio of 0.48% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
Which performed better, DWM or SPY?
Over the past year DWM returned +18.03% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), DWM annualized +3.14% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, DWM or SPY?
DWM has been the more volatile fund at 16.9% annualized versus 15.3% for SPY. Worst drawdown: DWM -64.3% vs SPY -56.5%.
Should I hold both DWM and SPY?
DWM and SPY 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 DWM and SPY?
DWM and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 1717 unique securities.
Which pays a higher dividend, DWM or SPY?
DWM yields 2.69% while SPY yields 1.01%, so DWM currently pays the higher dividend yield.
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