SPDW vs VBR
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Morningstar Small-Cap Value ETF
Quick Verdict
SPDW has a lower expense ratio. SPDW delivered stronger 1-year returns. SPDW offers more diversification with 2,440 holdings.
Side-by-Side Comparison
| Metric | SPDW | VBR | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $42.0B | $37.3B | |
| Dividend Yield | 3.02% | 1.76% | |
| Holdings | 2,440 | 847 | |
| YTD Return | +16.99% | +16.29% | |
| 1Y Return | +27.65% | +20.42% | |
| 3Y Return (annualized) | +20.07% | +16.08% | |
| 5Y Return (annualized) | +9.84% | +9.49% | |
| Volatility (annualized) | 17.6% | 19.0% | |
| Max Drawdown | -62.2% | -64.0% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 20, 2007 | Jan 26, 2004 |
SPDW vs VBR Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard Morningstar Small-Cap Value ETF (VBR) is a ETF from Vanguard (US). Over the past year SPDW returned +27.65% while VBR returned +20.42%. Year to date, SPDW is up 16.99% versus a gain of 16.29% for VBR.
Over three years, SPDW compounded at +20.07% per year against +16.08% for VBR; over five years the annualized figures are +9.84% and +9.49% respectively. Across the full 19-year window we track, VBR has the edge at +7.94% annualized vs +3.17%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VBR has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 17.6% for SPDW. 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 -62.2% for SPDW and -64.0% for VBR. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPDW charges 0.03% per year while VBR charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, SPDW currently yields 3.02% against 1.76% for VBR.
Holdings Overlap
SPDW and VBR share 4 holdings out of 3177 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPDW or VBR?
SPDW has an expense ratio of 0.03% while VBR charges 0.05%. SPDW is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, SPDW or VBR?
Over the past year SPDW returned +27.65% vs +20.42% for VBR, so SPDW leads on 1-year performance. Over the longest common window we track (19 years), SPDW annualized +3.17% vs +7.94% for VBR. Past performance does not guarantee future results.
Which is riskier, SPDW or VBR?
VBR has been the more volatile fund at 19.0% annualized versus 17.6% for SPDW. Worst drawdown: SPDW -62.2% vs VBR -64.0%.
Should I hold both SPDW and VBR?
SPDW and VBR have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDW and VBR?
SPDW and VBR share 4 common holdings with a 0.1% weight overlap. Combined, they hold 3177 unique securities.
Which pays a higher dividend, SPDW or VBR?
SPDW yields 3.02% while VBR yields 1.76%, so SPDW currently pays the higher dividend yield.
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