SPDW vs VGK
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard FTSE Europe ETF
Which is better, SPDW or VGK?
Nearly the same fund. SPDW costs less.
SPDW has a lower expense ratio. SPDW led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. SPDW is less concentrated, with 12.6% of the fund in its ten largest positions against 18.4%.
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 | VGK |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.06% |
| AUM | $41.1B | $31.0B |
| Dividend Yield | 2.92% | 2.81% |
| Holdings | 2,440 | 1,250 |
| YTD Return | +12.81%Best | +3.87% |
| 1Y Return | +19.67%Best | +10.68% |
| 3Y Return (annualized) | +20.15%Best | +17.38% |
| 5Y Return (annualized) | +9.84%Best | +9.03% |
| Volatility (annualized) | 17.5%Best | 19.2% |
| Max Drawdown | -62.2%Best | -67.3% |
| $10,000 over 5 years | $15,988Best | $15,407 |
| Top 10 Weight | 12.6%Best | 18.4% |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 20, 2007 | Mar 4, 2005 |
Volatility and max drawdown are measured over the window both funds cover: Apr 26, 2007 to Oct 9, 2026 (19.5 years).
SPDW vs VGK 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 19.5 years both funds cover.
SPDW vs VGK Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an ETF from SPDR State Street Global Advisors and Vanguard FTSE Europe ETF (VGK) is an ETF from Vanguard (US). Over the past year SPDW returned +19.67% while VGK returned +10.68%. Year to date, SPDW is up 12.81% versus a gain of 3.87% for VGK.
Over three years, SPDW compounded at +20.15% per year against +17.38% for VGK; over five years the annualized figures are +9.84% and +9.03% respectively. Across the full 20-year window we track, SPDW has the edge at +2.96% annualized vs +1.65%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VGK has been the more volatile fund, with annualized monthly volatility of 19.2% compared with 17.5% 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 -67.3% for VGK. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. 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 VGK charges 0.06%. On a $10,000 position that is $3 vs $6 annually, a gap of $3 per year that compounds over a long holding period. On income, SPDW currently yields 2.92% against 2.81% for VGK.
Holdings Overlap
30.5% of SPDW's money is in holdings VGK also owns. 61.6% of VGK's money is in holdings SPDW also owns.
The two portfolios partly overlap.
545 positions in common, counted across the 2,395 positions we hold weights for in SPDW and 1,101 in VGK, against full books of 2,440 and 1,250.
What only one of them owns
Our book lists 0 positions for VGK that do not appear in our book for SPDW (1.3% of the fund), and 30 for SPDW that do not appear in VGK (5.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPDW | Weight in VGK | Difference |
|---|---|---|---|
| HSBA:LNHsbc Securities Inc | 1.05% | 2.25% | 1.20% |
| ROP:SMRoche Ps Par Ag | 0.86% | 1.89% | 1.03% |
| NOVN:SMNovartis Ag – Class N | 0.74% | 1.79% | 1.05% |
| NESN:SMNestle Sa | 0.72% | 1.58% | 0.86% |
| AZN:LNAstraZeneca PLC | 0.72% | 1.57% | 0.85% |
| SHELShell Plc | 0.81% | 1.44% | 0.63% |
| SIE:SGSiemens Ag | 0.66% | 1.48% | 0.82% |
| SAP:SGSap Se | 0.61% | 1.16% | 0.55% |
| UBSG:SMUBS Group Ag | 0.51% | 1.02% | 0.51% |
| BBVA:MABanco Bilbao Vizcaya Argentaria S.A. Reg Shs | 0.50% | 0.97% | 0.47% |
61.6% of VGK is already inside SPDW.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPDW or VGK?
SPDW has an expense ratio of 0.03% while VGK charges 0.06%. SPDW is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, SPDW or VGK?
Over the past year SPDW returned +19.67% vs +10.68% for VGK, so SPDW leads on 1-year performance. Over the longest common window we track (20 years), SPDW annualized +2.96% vs +1.65% for VGK. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPDW or VGK?
VGK has been the more volatile fund at 19.2% annualized versus 17.5% for SPDW. Worst drawdown: SPDW -62.2% vs VGK -67.3%.
Should I hold both SPDW and VGK?
SPDW and VGK have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPDW and VGK?
61.6% of VGK's money is in holdings SPDW also owns. 61.6% of VGK's is in holdings SPDW also owns. They hold 545 positions in common, counted across the 2,395 positions we hold weights for in SPDW and 1,101 in VGK.
Which pays a higher dividend, SPDW or VGK?
SPDW yields 2.92% while VGK yields 2.81%, so SPDW currently pays the higher dividend yield.
Is VGK better than SPDW?
SPDW has a lower expense ratio. SPDW led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. SPDW is less concentrated, with 12.6% of the fund in its ten largest positions against 18.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.