SPDW vs VDIGX
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Dividend Growth Fund Investor Class
Which is better, SPDW or VDIGX?
SPDW has been ahead.
SPDW has a lower expense ratio. SPDW led over 1Y, 3Y, 5Y and the full window.
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 | SPDW | VDIGX |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.20% |
| AUM | $42.1B | $35.5B |
| Dividend Yield | 2.92% | 23.10% |
| Holdings | 2,440 | 62 |
| YTD Price Return | +14.44%Best | -3.99% |
| 1Y Price Return | +19.97%Best | -14.10% |
| 3Y Price Return (annualized) | +17.76%Best | -3.79% |
| 5Y Price Return (annualized) | +6.82%Best | -3.37% |
| Volatility (annualized) | 16.4% | 16.0%Best |
| Max Drawdown | -32.4%Best | -32.6% |
| $10,000 over 5 years | $13,908Best | $8,425 |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 20, 2007 | May 15, 1992 |
Not shown on this pair: Top 10 Weight.
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for VDIGX. Both funds are measured the same way, so the comparison holds. SPDW yields 2.92% and VDIGX 23.10% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2021 to Sep 18, 2026 (5 years).
SPDW vs VDIGX 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 5 years both funds cover. Prices exclude distributions, on both funds alike.
SPDW vs VDIGX Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an ETF from SPDR State Street Global Advisors and Vanguard Dividend Growth Fund Investor Class (VDIGX) is a mutual fund from Vanguard (US). Over the past year SPDW returned +19.97% while VDIGX returned -14.10%. Year to date, SPDW is up 14.44% versus a loss of 3.99% for VDIGX.
Over three years, SPDW compounded at +17.76% per year against -3.79% for VDIGX; over five years the annualized figures are +6.82% and -3.37% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPDW has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 16.0% for VDIGX. 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 -32.4% for SPDW and -32.6% for VDIGX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPDW charges 0.03% per year while VDIGX charges 0.20%. On a $10,000 position that is $3 vs $20 annually, a gap of $17 per year that compounds over a long holding period. On income, SPDW currently yields 2.92% against 23.10% for VDIGX.
Structure and taxes
VDIGX is a mutual fund and SPDW is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
At least 2.0% of VDIGX's money is in holdings SPDW also owns.
Stated as a floor: for SPDW, our book for it covers 86.3% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
VDIGX and SPDW share little of their money.
The two holdings books were reported 62 days apart, SPDW as of Aug 31, 2026 and VDIGX as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 2,129 positions we hold weights for in SPDW and 51 in VDIGX, against full books of 2,440 and 62.
Top Shared Holdings
| Stock | Weight in SPDW | Weight in VDIGX | Difference |
|---|---|---|---|
| ADPAutomatic Data Processing, Inc. | 0.01% | 2.01% | 2.00% |
You are not choosing between two funds in isolation.
Whichever of SPDW and VDIGX 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, SPDW or VDIGX?
SPDW has an expense ratio of 0.03% while VDIGX charges 0.20%. SPDW is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, SPDW or VDIGX?
Over the past year SPDW returned +19.97% vs -14.10% for VDIGX, so SPDW leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPDW or VDIGX?
SPDW has been the more volatile fund at 16.4% annualized versus 16.0% for VDIGX. Worst drawdown: SPDW -32.4% vs VDIGX -32.6%.
Should I hold both SPDW and VDIGX?
SPDW and VDIGX have a monthly-return correlation of 0.71, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPDW and VDIGX?
At least 2.0% of VDIGX's money is in holdings SPDW also owns. Our book for SPDW is partial, so the real figure is this or higher. They hold 1 positions in common, counted across the 2,129 positions we hold weights for in SPDW and 51 in VDIGX.
Which pays a higher dividend, SPDW or VDIGX?
SPDW yields 2.92% while VDIGX yields 23.10%, so VDIGX currently pays the higher dividend yield.
Is it better to hold VDIGX or SPDW in a taxable account?
SPDW is an ETF and VDIGX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VDIGX better than SPDW?
SPDW has a lower expense ratio. SPDW led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.