SPDW vs VGHAX
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Health Care Fund Admiral Shares
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 | VGHAX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.32% | |
| AUM | $40.0B | $31.8B | |
| Dividend Yield | 3.02% | 1.06% | |
| Holdings | 2,440 | 109 | |
| YTD Return | +17.66% | +2.59% | |
| 1Y Return | +29.00% | +24.45% | |
| 3Y Return (annualized) | +20.29% | -0.54% | |
| 5Y Return (annualized) | +9.83% | -2.67% | |
| Volatility (annualized) | 17.6% | 15.4% | |
| Max Drawdown | -62.2% | -33.6% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 20, 2007 | Nov 12, 2001 |
SPDW vs VGHAX Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard Health Care Fund Admiral Shares (VGHAX) is a mutual fund from Vanguard (US). Over the past year SPDW returned +29.00% while VGHAX returned +24.45%. Year to date, SPDW is up 17.66% versus a gain of 2.59% for VGHAX.
Over three years, SPDW compounded at +20.29% per year against -0.54% for VGHAX; over five years the annualized figures are +9.83% and -2.67% respectively. Across the full 5-year window we track, SPDW has the edge at +3.21% annualized vs -2.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPDW has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 15.4% for VGHAX. 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 -33.6% for VGHAX. 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPDW charges 0.03% per year while VGHAX charges 0.32%. On a $10,000 position that is $3 vs $32 annually, a gap of $29 per year that compounds over a long holding period. On income, SPDW currently yields 3.02% against 1.06% for VGHAX.
Holdings Overlap
SPDW and VGHAX share 18 holdings out of 2416 unique holdings combined, representing a 3.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPDW or VGHAX?
SPDW has an expense ratio of 0.03% while VGHAX charges 0.32%. SPDW is the cheaper option. On a $10,000 investment, that is $29 per year of difference.
Which performed better, SPDW or VGHAX?
Over the past year SPDW returned +29.00% vs +24.45% for VGHAX, so SPDW leads on 1-year performance. Over the longest common window we track (5 years), SPDW annualized +3.21% vs -2.67% for VGHAX. Past performance does not guarantee future results.
Which is riskier, SPDW or VGHAX?
SPDW has been the more volatile fund at 17.6% annualized versus 15.4% for VGHAX. Worst drawdown: SPDW -62.2% vs VGHAX -33.6%.
Should I hold both SPDW and VGHAX?
SPDW and VGHAX have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDW and VGHAX?
SPDW and VGHAX share 18 common holdings with a 3.6% weight overlap. Combined, they hold 2416 unique securities.
Which pays a higher dividend, SPDW or VGHAX?
SPDW yields 3.02% while VGHAX yields 1.06%, so SPDW currently pays the higher dividend yield.
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