SPDW vs VEU
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard FTSE All World Ex US ETF
Quick Verdict
SPDW has a lower expense ratio. SPDW delivered stronger 1-year returns. VEU offers more diversification with 3,928 holdings.
Side-by-Side Comparison
| Metric | SPDW | VEU | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.04% | |
| AUM | $42.3B | $68.4B | |
| Dividend Yield | 3.02% | 2.55% | |
| Holdings | 2,440 | 3,928 | |
| YTD Return | +15.43% | +14.04% | |
| 1Y Return | +27.66% | +26.43% | |
| 3Y Return (annualized) | +20.00% | +20.01% | |
| 5Y Return (annualized) | +9.34% | +9.08% | |
| Volatility (annualized) | 17.6% | 17.7% | |
| Max Drawdown | -62.2% | -62.8% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 20, 2007 | Mar 2, 2007 |
SPDW vs VEU Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard FTSE All World Ex US ETF (VEU) is a ETF from Vanguard (US). Over the past year SPDW returned +27.66% while VEU returned +26.43%. Year to date, SPDW is up 15.43% versus a gain of 14.04% for VEU.
Over three years, SPDW compounded at +20.00% per year against +20.01% for VEU; over five years the annualized figures are +9.34% and +9.08% respectively. Across the full 19-year window we track, VEU has the edge at +3.52% annualized vs +3.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VEU has been the more volatile fund, with annualized monthly volatility of 17.7% 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 -62.8% for VEU. 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPDW charges 0.03% per year while VEU charges 0.04%. On a $10,000 position that is $3 vs $4 annually, a gap of $1 per year that compounds over a long holding period. On income, SPDW currently yields 3.02% against 2.55% for VEU.
Holdings Overlap
SPDW and VEU share 1123 holdings out of 4880 unique holdings combined, representing a 48.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPDW or VEU?
SPDW has an expense ratio of 0.03% while VEU charges 0.04%. SPDW is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, SPDW or VEU?
Over the past year SPDW returned +27.66% vs +26.43% for VEU, so SPDW leads on 1-year performance. Over the longest common window we track (19 years), SPDW annualized +3.10% vs +3.52% for VEU. Past performance does not guarantee future results.
Which is riskier, SPDW or VEU?
VEU has been the more volatile fund at 17.7% annualized versus 17.6% for SPDW. Worst drawdown: SPDW -62.2% vs VEU -62.8%.
Should I hold both SPDW and VEU?
SPDW and VEU have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPDW and VEU?
SPDW and VEU share 1123 common holdings with a 48.3% weight overlap. Combined, they hold 4880 unique securities.
Which pays a higher dividend, SPDW or VEU?
SPDW yields 3.02% while VEU yields 2.55%, so SPDW currently pays the higher dividend yield.
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