SPDW vs VTCIX
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares
Quick Verdict
SPDW delivered stronger 1-year returns. SPDW offers more diversification with 2,440 holdings.
Side-by-Side Comparison
| Metric | SPDW | VTCIX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.03% | |
| AUM | $42.0B | $5.2B | |
| Dividend Yield | 3.02% | 0.93% | |
| Holdings | 2,440 | 836 | |
| YTD Return | +17.71% | +13.62% | |
| 1Y Return | +29.36% | +20.53% | |
| 3Y Return (annualized) | +20.86% | +20.45% | |
| 5Y Return (annualized) | +9.98% | +11.49% | |
| Volatility (annualized) | 17.6% | 16.1% | |
| Max Drawdown | -62.2% | -26.0% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 20, 2007 | Feb 24, 1999 |
SPDW vs VTCIX Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is a mutual fund from Vanguard (US). Over the past year SPDW returned +29.36% while VTCIX returned +20.53%. Year to date, SPDW is up 17.71% versus a gain of 13.62% for VTCIX.
Over three years, SPDW compounded at +20.86% per year against +20.45% for VTCIX; over five years the annualized figures are +9.98% and +11.49% respectively. Across the full 5-year window we track, VTCIX has the edge at +11.49% annualized vs +3.21%. 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 16.1% for VTCIX. 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 -26.0% for VTCIX. 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPDW charges 0.03% per year while VTCIX charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, SPDW currently yields 3.02% against 0.93% for VTCIX.
Holdings Overlap
SPDW and VTCIX share 6 holdings out of 3165 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPDW or VTCIX?
SPDW has an expense ratio of 0.03% while VTCIX charges 0.03%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPDW or VTCIX?
Over the past year SPDW returned +29.36% vs +20.53% for VTCIX, so SPDW leads on 1-year performance. Over the longest common window we track (5 years), SPDW annualized +3.21% vs +11.49% for VTCIX. Past performance does not guarantee future results.
Which is riskier, SPDW or VTCIX?
SPDW has been the more volatile fund at 17.6% annualized versus 16.1% for VTCIX. Worst drawdown: SPDW -62.2% vs VTCIX -26.0%.
Should I hold both SPDW and VTCIX?
SPDW and VTCIX have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDW and VTCIX?
SPDW and VTCIX share 6 common holdings with a 0.2% weight overlap. Combined, they hold 3165 unique securities.
Which pays a higher dividend, SPDW or VTCIX?
SPDW yields 3.02% while VTCIX yields 0.93%, so SPDW currently pays the higher dividend yield.
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