DWMF vs SPY
WisdomTree International Multifactor Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, DWMF or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. DWMF is less concentrated, with 12.6% of the fund in its ten largest positions against 38.2%.
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 | DWMF | SPY |
|---|---|---|
| Expense Ratio | 0.38% | 0.09%Best |
| AUM | $34M | $811.2B |
| Dividend Yield | 3.03% | 0.98% |
| Holdings | 225 | 1,515 |
| YTD Return | +2.39% | +12.70%Best |
| 1Y Return | +5.78% | +15.53%Best |
| 3Y Return (annualized) | +14.05% | +22.86%Best |
| 5Y Return (annualized) | +8.37% | +13.47%Best |
| Volatility (annualized) | 11.2%Best | 16.7% |
| Max Drawdown | -29.7%Best | -34.1% |
| $10,000 over 5 years | $14,947 | $18,811Best |
| Top 10 Weight | 12.6%Best | 38.2% |
| Fund Family | WisdomTree Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 10, 2018 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Aug 10, 2018 to Oct 1, 2026 (8.1 years).
DWMF vs SPY 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 8.1 years both funds cover.
DWMF vs SPY Performance
WisdomTree International Multifactor Fund (DWMF) is an ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DWMF returned +5.78% while SPY returned +15.53%. Year to date, DWMF is up 2.39% versus a gain of 12.70% for SPY.
Over three years, DWMF compounded at +14.05% per year against +22.86% for SPY; over five years the annualized figures are +8.37% and +13.47% respectively. Across the full 8-year window we track, SPY has the edge at +14.03% annualized vs +6.02%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 11.2% for DWMF. 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 -29.7% for DWMF and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DWMF charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, DWMF currently yields 3.03% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 198 holdings in DWMF and 504 in SPY, totalling 97.9% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 198 positions we hold weights for in DWMF and 504 in SPY, against full books of 225 and 1,515.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for DWMF (99.2% of the fund), and 13 for DWMF that do not appear in SPY (6.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of DWMF and SPY 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, DWMF or SPY?
DWMF has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, DWMF or SPY?
Over the past year DWMF returned +5.78% vs +15.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), DWMF annualized +6.02% vs +14.03% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DWMF or SPY?
SPY has been the more volatile fund at 16.7% annualized versus 11.2% for DWMF. Worst drawdown: DWMF -29.7% vs SPY -34.1%.
Should I hold both DWMF and SPY?
DWMF and SPY have a monthly-return correlation of 0.75, 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, DWMF or SPY?
DWMF yields 3.03% while SPY yields 0.98%, so DWMF currently pays the higher dividend yield.
Is SPY better than DWMF?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. DWMF is less concentrated, with 12.6% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.