- ISIN
- US78463X8487
- CUSIP
- 78463X848
- Issuer
- State Street
- Inception Date
- Jan 10, 2007
- Region
- Broad Asia (Broad)
- Category
- Foreign Large Cap Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI All Country World ex-U.S. Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $3B
Share Price Chart
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Performance
CWI Performance Chart
SPDR MSCI ACWI ex-US ETF (CWI) is up 16.4% since the beginning of the year. CWI is currently trading at $41 per share. Investors who bought $1,000 worth of CWI shares 5 years ago would now be looking at an investment worth $1,589.
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Returns By Period
SPDR MSCI ACWI ex-US ETF (CWI) has returned 16.41% so far this year and 35.32% over the past 12 months. Over the last ten years, CWI has returned 10.82% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SPDR MSCI ACWI ex-US ETF
- 1D
- 0.29%
- 1M
- 4.38%
- YTD
- 16.41%
- 6M
- 17.00%
- 1Y
- 35.32%
- 3Y*
- 20.65%
- 5Y*
- 9.71%
- 10Y*
- 10.82%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CWI Monthly Returns History
Based on dividend-adjusted daily data since Jan 17, 2007, CWI's average daily return is +0.03%, while the average monthly return is +0.58%. At this rate, an investment would double in approximately 10.0 years.
Historically, 58% of months were positive and 42% were negative. The best month was May 2009 with a return of +15.1%, while the worst month was Oct 2008 at -21.6%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, CWI closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +19.4%, while the worst single day was Oct 15, 2008 at -10.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.12% | 5.46% | -8.11% | 7.22% | 4.08% | 2.41% | 16.41% | ||||||
| 2025 | 3.19% | 2.15% | 0.44% | 2.74% | 4.61% | 4.20% | -1.10% | 4.09% | 3.87% | 1.80% | 0.32% | 2.54% | 32.75% |
| 2024 | -1.66% | 3.42% | 3.27% | -2.46% | 4.22% | -0.51% | 2.15% | 2.80% | 2.39% | -4.43% | 0.03% | -2.67% | 6.27% |
| 2023 | 8.60% | -4.48% | 3.08% | 1.87% | -3.51% | 5.03% | 3.48% | -4.88% | -3.23% | -3.01% | 8.16% | 4.91% | 15.74% |
| 2022 | -2.46% | -3.60% | -0.15% | -6.47% | 1.86% | -7.85% | 3.20% | -4.40% | -9.59% | 3.68% | 13.32% | -2.05% | -15.39% |
| 2021 | 0.94% | 2.15% | 1.40% | 2.70% | 3.33% | -0.52% | -1.66% | 1.11% | -3.53% | 3.07% | -4.12% | 3.99% | 8.81% |
Benchmark Metrics
SPDR MSCI ACWI ex-US ETF has an annualized alpha of -2.38%, beta of 0.98, and R2 of 0.78 versus S&P 500 Index. Calculated based on daily prices since January 17, 2007.
- This ETF participated in 102.40% of S&P 500 Index downside but only 88.22% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.38% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.98 and R2 of 0.78, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -2.38%
- Beta
- 0.98
- R²
- 0.78
- Upside Capture
- 88.22%
- Downside Capture
- 102.40%
Expense Ratio
CWI has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CWI ranks 68 for risk / return — better than 68% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SPDR MSCI ACWI ex-US ETF (CWI) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CWI | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.78 | +0.31 |
| Martin ratioReturn relative to average drawdown | 11.87 | 12.44 | -0.56 |
Dividends
Dividend History
SPDR MSCI ACWI ex-US ETF provided a 2.64% dividend yield over the last twelve months, with an annual payout of $1.09 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.09 | $1.07 | $0.81 | $0.76 | $0.76 | $0.78 | $0.57 | $0.79 | $0.61 | $0.60 | $0.51 | $0.54 |
Dividend yield | 2.64% | 2.97% | 2.89% | 2.80% | 3.17% | 2.65% | 2.07% | 3.05% | 2.81% | 2.29% | 2.45% | 2.62% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR MSCI ACWI ex-US ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.47 | $0.47 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.00 | $0.00 | $0.62 | $0.00 | $1.07 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.39 | $0.81 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.76 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.76 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 | $0.78 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SPDR MSCI ACWI ex-US ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SPDR MSCI ACWI ex-US ETF was 60.77%, occurring on Mar 9, 2009. Recovery took 1329 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -60.77%Mar 2009 | 1y 4mo | 5y 3mo | 6y 7moNov 2007 - Jun 2014 |
COVID crash2020 | -34.64%Mar 2020 | 2y 1mo | 7mo 25d | 2y 9moJan 2018 - Nov 2020 |
Bear market2022 | -29.45%Oct 2022 | 1y 3mo | 1y 7mo | 2y 10moJun 2021 - May 2024 |
2016 bear market2016 | -25.25%Feb 2016 | 1y 7mo | 1y 2mo | 2y 10moJul 2014 - May 2017 |
2025 selloff2025 | -13.85%Apr 2025 | 19d | 24d | 1mo 13dMar 2025 - May 2025 |
Drawdown Indicators
| CWI | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.77% | -56.78% | -3.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.47% | -9.10% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -13.85% | -18.90% | +5.05% |
Max Drawdown (5Y)Largest decline over 5 years | -28.80% | -25.43% | -3.37% |
Max Drawdown (10Y)Largest decline over 10 years | -34.64% | -33.92% | -0.72% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -12.83% | -10.71% | -2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.03% | +0.95% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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