SPDW vs VTEB
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard Tax-Exempt Bond ETF
Quick Verdict
SPDW delivered stronger 1-year returns. VTEB offers more diversification with 3533 holdings.
Side-by-Side Comparison
| Metric | SPDW | VTEB | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.03% | |
| AUM | $40.0B | $46.0B | |
| Dividend Yield | 3.02% | 3.34% | |
| Holdings | 2,440 | 9,952 | |
| YTD Return | +15.97% | +0.51% | |
| 1Y Return | +29.29% | +4.96% | |
| 3Y Return (annualized) | +19.55% | +3.17% | |
| 5Y Return (annualized) | +9.71% | +0.57% | |
| Volatility (annualized) | 17.6% | 4.9% | |
| Max Drawdown | -62.2% | -17.0% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Tax Preferred | |
| Inception | Apr 20, 2007 | Aug 21, 2015 |
SPDW vs VTEB Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard Tax-Exempt Bond ETF (VTEB) is a ETF from Vanguard (US). Over the past year SPDW returned +29.29% while VTEB returned +4.96%. Year to date, SPDW is up 15.97% versus a gain of 0.51% for VTEB.
Over three years, SPDW compounded at +19.55% per year against +3.17% for VTEB; over five years the annualized figures are +9.71% and +0.57% respectively. Across the full 11-year window we track, SPDW has the edge at +3.14% annualized vs +1.26%. 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 4.9% for VTEB. 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 -17.0% for VTEB. 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 0.52. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPDW charges 0.03% per year while VTEB charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, SPDW currently yields 3.02% against 3.34% for VTEB.
Holdings Overlap
SPDW and VTEB share 0 holdings out of 5881 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPDW or VTEB?
SPDW has an expense ratio of 0.03% while VTEB charges 0.03%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPDW or VTEB?
Over the past year SPDW returned +29.29% vs +4.96% for VTEB, so SPDW leads on 1-year performance. Over the longest common window we track (11 years), SPDW annualized +3.14% vs +1.26% for VTEB. Past performance does not guarantee future results.
Which is riskier, SPDW or VTEB?
SPDW has been the more volatile fund at 17.6% annualized versus 4.9% for VTEB. Worst drawdown: SPDW -62.2% vs VTEB -17.0%.
Should I hold both SPDW and VTEB?
SPDW and VTEB have a monthly-return correlation of 0.52, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDW and VTEB?
SPDW and VTEB share 0 common holdings with a 0.0% weight overlap. Combined, they hold 5881 unique securities.
Which pays a higher dividend, SPDW or VTEB?
SPDW yields 3.02% while VTEB yields 3.34%, so VTEB currently pays the higher dividend yield.
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