EWD vs SPY
iShares MSCI Sweden 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 503 holdings.
Side-by-Side Comparison
| Metric | EWD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.51% | 0.09% | |
| AUM | $535M | $789.1B | |
| Dividend Yield | 3.59% | 1.01% | |
| Holdings | 51 | 505 | |
| YTD Return | +10.64% | +13.79% | |
| 1Y Return | +21.84% | +23.66% | |
| 3Y Return (annualized) | +19.85% | +21.40% | |
| 5Y Return (annualized) | +5.56% | +13.37% | |
| Volatility (annualized) | 24.7% | 15.3% | |
| Max Drawdown | -79.9% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 12, 1996 | Jan 22, 1993 |
EWD vs SPY Performance
iShares MSCI Sweden ETF (EWD) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EWD returned +21.84% while SPY returned +23.66%. Year to date, EWD is up 10.64% versus a gain of 13.79% for SPY.
Over three years, EWD compounded at +19.85% per year against +21.40% for SPY; over five years the annualized figures are +5.56% and +13.37% respectively. Across the full 30-year window we track, SPY has the edge at +8.85% annualized vs +5.34%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWD has been the more volatile fund, with annualized monthly volatility of 24.7% 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 -79.9% for EWD 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EWD charges 0.51% per year while SPY charges 0.09%. On a $10,000 position that is $51 vs $9 annually, a gap of $42 per year that compounds over a long holding period. On income, EWD currently yields 3.59% against 1.01% for SPY.
Holdings Overlap
EWD and SPY share 0 holdings out of 547 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EWD or SPY?
EWD has an expense ratio of 0.51% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $42 per year of difference.
Which performed better, EWD or SPY?
Over the past year EWD returned +21.84% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (30 years), EWD annualized +5.34% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EWD or SPY?
EWD has been the more volatile fund at 24.7% annualized versus 15.3% for SPY. Worst drawdown: EWD -79.9% vs SPY -56.5%.
Should I hold both EWD and SPY?
EWD and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWD and SPY?
EWD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 547 unique securities.
Which pays a higher dividend, EWD or SPY?
EWD yields 3.59% while SPY yields 1.01%, so EWD currently pays the higher dividend yield.
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