EWW vs SPY
iShares MSCI Mexico ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EWW delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | EWW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $1.8B | $821.1B | |
| Dividend Yield | 3.20% | 1.01% | |
| Holdings | 44 | 505 | |
| YTD Return | +9.45% | +13.17% | |
| 1Y Return | +26.87% | +21.53% | |
| 3Y Return (annualized) | +10.63% | +22.06% | |
| 5Y Return (annualized) | +12.71% | +13.35% | |
| Volatility (annualized) | 26.4% | 15.3% | |
| Max Drawdown | -67.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 12, 1996 | Jan 22, 1993 |
EWW vs SPY Performance
iShares MSCI Mexico ETF (EWW) 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 EWW returned +26.87% while SPY returned +21.53%. Year to date, EWW is up 9.45% versus a gain of 13.17% for SPY.
Over three years, EWW compounded at +10.63% per year against +22.06% for SPY; over five years the annualized figures are +12.71% and +13.35% respectively. Across the full 30-year window we track, SPY has the edge at +8.82% annualized vs +7.16%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWW has been the more volatile fund, with annualized monthly volatility of 26.4% 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 -67.3% for EWW 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EWW charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, EWW currently yields 3.20% against 1.01% for SPY.
Holdings Overlap
EWW and SPY share 0 holdings out of 545 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, EWW or SPY?
EWW has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, EWW or SPY?
Over the past year EWW returned +26.87% vs +21.53% for SPY, so EWW leads on 1-year performance. Over the longest common window we track (30 years), EWW annualized +7.16% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, EWW or SPY?
EWW has been the more volatile fund at 26.4% annualized versus 15.3% for SPY. Worst drawdown: EWW -67.3% vs SPY -56.5%.
Should I hold both EWW and SPY?
EWW and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWW and SPY?
EWW and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, EWW or SPY?
EWW yields 3.20% while SPY yields 1.01%, so EWW currently pays the higher dividend yield.
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