ETF Versus

SPDW vs SPY

State Street SPDR Portfolio Developed World ex-US ETF vs State Street SPDR S&P 500 ETF Trust

Last updated: 2026-04-02

SPDW State Street

State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an exchange-traded fund issued by State Street that provides exposure to equities in developed international markets outside the U.S.. It charges a very low expense ratio of 0.03%. The fund offers an attractive dividend yield of 3.19%. Launched in 2007, the fund has a 19-year track record.

AUM: N/A ER: 0.03% Yield: 3.19% Since: 2007-04-26
SPY State Street

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund issued by State Street that provides exposure to large-cap U.S. equities across growth and value styles. It charges a low expense ratio of 0.09%. The fund offers a moderate dividend yield of 1.13%. Launched in 1993, the fund has a 33-year track record.

AUM: $712.1B ER: 0.09% Yield: 1.13% Since: 1993-01-29

Quick Verdict

SPDW has a slightly lower expense ratio (0.03% vs 0.09%), saving about $119 per $10,000 over 10 years. Over the past year, SPDW has significantly outperformed with a 25.6% return vs 16.0%. Income investors may prefer SPDW for its higher yield (3.2% vs 1.1%).

Key Metrics

Metric SPDW SPY
Expense Ratio 0.03% 0.09%
Dividend Yield 3.2% 1.1%
Fund Family State Street State Street
Category International Developed US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

70 91 112 133 154 175 2021-04 2022-06 2023-10 2024-12 2026-04
SPDW +26.6%
SPY +61.1%

Performance Comparison

Period SPDW SPY Difference
1 Month -2.87% -3.75% +0.88%
3 Months +2.43% -4.15% +6.58%
6 Months +5.33% -2.50% +7.83%
YTD +2.43% -4.15% +6.58%
1 Year +25.60% +16.00% +9.60%
3 Years +42.12% +59.35% -17.23%
5 Years +26.60% +61.15% -34.55%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period SPDW Fees SPY Fees You Save
$10,000 10 years $60 $179 $119
$10,000 20 years $258 $771 $512
$10,000 30 years $835 $2,486 $1,650
$50,000 10 years $299 $896 $597
$50,000 30 years $4,176 $12,428 $8,252
$100,000 30 years $8,352 $24,855 $16,503

Risk Metrics

Based on 5 years of daily returns

Metric SPDW SPY
Annualized Volatility 16.3% 17.1%
Max Drawdown -33.0% -25.4%
Sharpe Ratio 0.10 0.38

Dividend Comparison

Metric SPDW SPY
Annual Dividend (per share) $1.47 $7.38
Dividend Yield 3.19% 1.13%
Distribution Frequency Semi-Annual or Annual Quarterly

Top Holdings

SPY Top Holdings

NameWeight
NVIDIA Corp775.46%
Apple Inc687.37%
Microsoft Corp615.05%
Amazon.com Inc384.22%
Broadcom Inc279.66%
Alphabet Inc249.68%
Meta Platforms Inc245.99%
Tesla Inc216.23%
Berkshire Hathaway Inc157.72%

Which One Should You Choose?

Choose SPDW if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose SPDW if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose SPDW if...

you prioritize dividend income and want higher regular distributions from your portfolio.

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