SPDW vs VWO
State Street SPDR Portfolio Developed World ex-US ETF vs Vanguard FTSE Emerging Markets ETF
Quick Verdict
SPDW has a lower expense ratio. SPDW delivered stronger 1-year returns. VWO offers more diversification with 6,334 holdings.
Side-by-Side Comparison
| Metric | SPDW | VWO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.06% | |
| AUM | $42.0B | $122.0B | |
| Dividend Yield | 3.02% | 2.39% | |
| Holdings | 2,440 | 6,334 | |
| YTD Return | +17.71% | +9.56% | |
| 1Y Return | +29.36% | +20.45% | |
| 3Y Return (annualized) | +20.86% | +17.86% | |
| 5Y Return (annualized) | +9.98% | +6.63% | |
| Volatility (annualized) | 17.6% | 20.1% | |
| Max Drawdown | -62.2% | -68.3% | |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 20, 2007 | Mar 4, 2005 |
SPDW vs VWO Performance
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors and Vanguard FTSE Emerging Markets ETF (VWO) is a ETF from Vanguard (US). Over the past year SPDW returned +29.36% while VWO returned +20.45%. Year to date, SPDW is up 17.71% versus a gain of 9.56% for VWO.
Over three years, SPDW compounded at +20.86% per year against +17.86% for VWO; over five years the annualized figures are +9.98% and +6.63% respectively. Across the full 19-year window we track, VWO has the edge at +4.96% annualized vs +3.21%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VWO has been the more volatile fund, with annualized monthly volatility of 20.1% 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 -68.3% for VWO. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPDW charges 0.03% per year while VWO 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 3.02% against 2.39% for VWO.
Holdings Overlap
SPDW and VWO share 27 holdings out of 6303 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 VWO?
SPDW has an expense ratio of 0.03% while VWO charges 0.06%. SPDW is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, SPDW or VWO?
Over the past year SPDW returned +29.36% vs +20.45% for VWO, so SPDW leads on 1-year performance. Over the longest common window we track (19 years), SPDW annualized +3.21% vs +4.96% for VWO. Past performance does not guarantee future results.
Which is riskier, SPDW or VWO?
VWO has been the more volatile fund at 20.1% annualized versus 17.6% for SPDW. Worst drawdown: SPDW -62.2% vs VWO -68.3%.
Should I hold both SPDW and VWO?
SPDW and VWO have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDW and VWO?
SPDW and VWO share 27 common holdings with a 0.2% weight overlap. Combined, they hold 6303 unique securities.
Which pays a higher dividend, SPDW or VWO?
SPDW yields 3.02% while VWO yields 2.39%, so SPDW currently pays the higher dividend yield.
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