SPDW vs VGSH
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Short Term Treasury ETF
Which is better, SPDW or VGSH?
Large Cap Blend against Short Term Government Bond.
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 | VGSH |
|---|---|---|
| Expense Ratio | 0.03%Tie | 0.03%Tie |
| AUM | $42.3B | $30.2B |
| Dividend Yield | 3.02% | 3.85% |
| Holdings | 2,440 | 94 |
| YTD Return | +17.60%Best | +1.04% |
| 1Y Return | +29.74%Best | +2.46% |
| 3Y Return (annualized) | +20.70%Best | +4.29% |
| 5Y Return (annualized) | +9.51%Best | +1.93% |
| Volatility (annualized) | 15.8% | 1.4%Best |
| Max Drawdown | -38.8% | -6.7%Best |
| $10,000 over 5 years | $15,750Best | $11,003 |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Short Term Government Bond |
| Inception | Apr 20, 2007 | Nov 19, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 23, 2009 to Sep 3, 2026 (16.8 years).
SPDW vs VGSH 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPDW vs VGSH Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an ETF from SPDR State Street Global Advisors and Vanguard Short Term Treasury ETF (VGSH) is an ETF from Vanguard (US). Over the past year SPDW returned +29.74% while VGSH returned +2.46%. Year to date, SPDW is up 17.60% versus a gain of 1.04% for VGSH.
Over three years, SPDW compounded at +20.70% per year against +4.29% for VGSH; over five years the annualized figures are +9.51% and +1.93% respectively. Across the full 17-year window we track, SPDW has the edge at +5.58% annualized vs +0.73%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPDW has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 1.4% for VGSH. 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 -38.8% for SPDW and -6.7% for VGSH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.12. They move largely independently of each other.
Fees and Cost Over Time
SPDW charges 0.03% per year while VGSH charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, SPDW currently yields 3.02% against 3.85% for VGSH.
Holdings Overlap
We hold position weights for 2,345 holdings in SPDW and 16 in VGSH, totalling 95.7% and 15.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 91 days apart, SPDW as of Mar 31, 2026 and VGSH as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 2,345 positions we hold weights for in SPDW and 16 in VGSH, against full books of 2,440 and 94.
You are not choosing between two funds in isolation.
Whichever of SPDW and VGSH 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 VGSH?
SPDW has an expense ratio of 0.03% while VGSH charges 0.03%. At the precision these are quoted to, they cost the same.
Which performed better, SPDW or VGSH?
Over the past year SPDW returned +29.74% vs +2.46% for VGSH, so SPDW leads on 1-year performance. Over the longest common window we track (17 years), SPDW annualized +5.58% vs +0.73% for VGSH. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPDW or VGSH?
SPDW has been the more volatile fund at 15.8% annualized versus 1.4% for VGSH. Worst drawdown: SPDW -38.8% vs VGSH -6.7%.
Should I hold both SPDW and VGSH?
SPDW and VGSH have a monthly-return correlation of 0.12, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPDW or VGSH?
SPDW yields 3.02% while VGSH yields 3.85%, so VGSH currently pays the higher dividend yield.
Is VGSH better than SPDW?
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.