SPWO vs SPY
SP Funds S&P World (ex-US) ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPWO delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPWO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $212M | $821.1B | |
| Dividend Yield | 1.10% | 1.01% | |
| Holdings | 384 | 505 | |
| YTD Return | +20.95% | +12.22% | |
| 1Y Return | +38.33% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 15.9% | 15.3% | |
| Max Drawdown | -18.1% | -56.5% | |
| Fund Family | SP Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 19, 2023 | Jan 22, 1993 |
SPWO vs SPY Performance
SP Funds S&P World (ex-US) ETF (SPWO) is a ETF from SP Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPWO returned +38.33% while SPY returned +20.83%. Year to date, SPWO is up 20.95% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPWO has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 15.3% for SPY. 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 -18.1% for SPWO and -56.5% for SPY. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPWO charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, SPWO currently yields 1.10% against 1.01% for SPY.
Holdings Overlap
SPWO and SPY share 0 holdings out of 870 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, SPWO or SPY?
SPWO has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, SPWO or SPY?
Over the past year SPWO returned +38.33% vs +20.83% for SPY, so SPWO leads on 1-year performance. Over the longest common window we track (3 years), SPWO annualized +23.53% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, SPWO or SPY?
SPWO has been the more volatile fund at 15.9% annualized versus 15.3% for SPY. Worst drawdown: SPWO -18.1% vs SPY -56.5%.
Should I hold both SPWO and SPY?
SPWO and SPY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPWO and SPY?
SPWO and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 870 unique securities.
Which pays a higher dividend, SPWO or SPY?
SPWO yields 1.10% while SPY yields 1.01%, so SPWO currently pays the higher dividend yield.
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