SPDW vs VNQ
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Real Estate ETF
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 | VNQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.13% | |
| AUM | $42.0B | $39.3B | |
| Dividend Yield | 3.02% | 3.49% | |
| Holdings | 2,440 | 144 | |
| YTD Return | +17.42% | +13.46% | |
| 1Y Return | +29.01% | +13.14% | |
| 3Y Return (annualized) | +21.31% | +11.55% | |
| 5Y Return (annualized) | +10.15% | +2.33% | |
| Volatility (annualized) | 17.6% | 21.4% | |
| Max Drawdown | -62.2% | -75.8% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 20, 2007 | Sep 23, 2004 |
SPDW vs VNQ Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard Real Estate ETF (VNQ) is a ETF from Vanguard (US). Over the past year SPDW returned +29.01% while VNQ returned +13.14%. Year to date, SPDW is up 17.42% versus a gain of 13.46% for VNQ.
Over three years, SPDW compounded at +21.31% per year against +11.55% for VNQ; over five years the annualized figures are +10.15% and +2.33% respectively. Across the full 19-year window we track, VNQ has the edge at +4.13% annualized vs +3.20%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VNQ has been the more volatile fund, with annualized monthly volatility of 21.4% 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 -75.8% for VNQ. 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPDW charges 0.03% per year while VNQ charges 0.13%. On a $10,000 position that is $3 vs $13 annually, a gap of $10 per year that compounds over a long holding period. On income, SPDW currently yields 3.02% against 3.49% for VNQ.
Holdings Overlap
SPDW and VNQ share 1 holdings out of 2489 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPDW | Weight in VNQ | Difference |
|---|---|---|---|
| CWK:LN | 0.01% | 0.16% | 0.15% |
Frequently Asked Questions
Which is cheaper, SPDW or VNQ?
SPDW has an expense ratio of 0.03% while VNQ charges 0.13%. SPDW is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, SPDW or VNQ?
Over the past year SPDW returned +29.01% vs +13.14% for VNQ, so SPDW leads on 1-year performance. Over the longest common window we track (19 years), SPDW annualized +3.20% vs +4.13% for VNQ. Past performance does not guarantee future results.
Which is riskier, SPDW or VNQ?
VNQ has been the more volatile fund at 21.4% annualized versus 17.6% for SPDW. Worst drawdown: SPDW -62.2% vs VNQ -75.8%.
Should I hold both SPDW and VNQ?
SPDW and VNQ have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDW and VNQ?
SPDW and VNQ share 1 common holdings with a 0.0% weight overlap. Combined, they hold 2489 unique securities.
Which pays a higher dividend, SPDW or VNQ?
SPDW yields 3.02% while VNQ yields 3.49%, so VNQ currently pays the higher dividend yield.
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