- ISIN
- US78463X7562
- CUSIP
- 78463X756
- Issuer
- State Street
- Inception Date
- May 12, 2008
- Region
- Emerging Markets (Broad)
- Category
- Emerging Markets Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P Emerging Markets Under USD2 Billion Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $747M
Share Price Chart
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Performance
EWX Performance Chart
SPDR S&P Emerging Markets Small Cap ETF (EWX) is up 17.3% since the beginning of the year. EWX is currently trading at $76 per share. Investors who bought $1,000 worth of EWX shares 5 years ago would now be looking at an investment worth $1,455.
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Returns By Period
SPDR S&P Emerging Markets Small Cap ETF (EWX) has returned 17.34% so far this year and 33.41% over the past 12 months. Over the last ten years, EWX has returned 10.36% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SPDR S&P Emerging Markets Small Cap ETF
- 1D
- 1.17%
- 1M
- 3.87%
- YTD
- 17.34%
- 6M
- 18.48%
- 1Y
- 33.41%
- 3Y*
- 17.00%
- 5Y*
- 7.79%
- 10Y*
- 10.36%
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%
EWX Monthly Returns History
Based on dividend-adjusted daily data since May 16, 2008, EWX'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, 53% of months were positive and 47% were negative. The best month was Apr 2009 with a return of +23.6%, while the worst month was Oct 2008 at -27.0%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 7 months.
On a daily basis, EWX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +14.6%, while the worst single day was Mar 16, 2020 at -12.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.04% | 3.55% | -5.61% | 10.92% | 2.14% | 2.84% | 17.34% | ||||||
| 2025 | -2.56% | 0.05% | -0.89% | -0.58% | 5.65% | 5.41% | 0.76% | 6.30% | 1.28% | -0.04% | -1.32% | 0.87% | 15.46% |
| 2024 | -3.93% | 3.23% | -0.34% | 1.67% | 1.50% | 1.37% | 0.71% | 0.74% | 6.16% | -1.76% | -0.23% | -2.12% | 6.81% |
| 2023 | 6.33% | -3.21% | 0.56% | 0.43% | 0.63% | 3.50% | 5.37% | -1.72% | -1.66% | -3.61% | 8.03% | 2.89% | 18.13% |
| 2022 | -2.98% | -2.12% | 0.62% | -6.32% | -0.49% | -6.72% | 1.77% | 1.07% | -8.95% | -0.09% | 10.72% | -1.25% | -15.00% |
| 2021 | -0.70% | 6.10% | 1.82% | 5.58% | 1.68% | 3.90% | -2.05% | 1.03% | -3.35% | 1.11% | -1.06% | 3.19% | 18.15% |
Benchmark Metrics
SPDR S&P Emerging Markets Small Cap ETF has an annualized alpha of -2.50%, beta of 0.85, and R2 of 0.61 versus S&P 500 Index. Calculated based on daily prices since May 16, 2008.
- This ETF participated in 104.57% of S&P 500 Index downside but only 83.76% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.50% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -2.50%
- Beta
- 0.85
- R²
- 0.61
- Upside Capture
- 83.76%
- Downside Capture
- 104.57%
Expense Ratio
EWX has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
EWX ranks 71 for risk / return — better than 71% 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 S&P Emerging Markets Small Cap ETF (EWX) 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.
| EWX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.21 | 2.78 | +1.42 |
| Martin ratioReturn relative to average drawdown | 12.98 | 12.44 | +0.55 |
Dividends
Dividend History
SPDR S&P Emerging Markets Small Cap ETF provided a 3.24% dividend yield over the last twelve months, with an annual payout of $2.48 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 | $2.48 | $1.91 | $1.70 | $1.31 | $1.47 | $1.64 | $1.16 | $1.26 | $1.33 | $1.20 | $0.98 | $1.15 |
Dividend yield | 3.24% | 2.91% | 2.90% | 2.32% | 3.00% | 2.77% | 2.24% | 2.73% | 3.26% | 2.30% | 2.46% | 3.04% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR S&P Emerging Markets Small Cap 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 | $0.57 | $0.57 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.64 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.27 | $1.91 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.25 | $1.70 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.83 | $1.31 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.83 | $1.47 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.19 | $1.64 |
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 S&P Emerging Markets Small Cap 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 S&P Emerging Markets Small Cap ETF was 63.90%, occurring on Nov 20, 2008. Recovery took 453 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -63.90%Nov 2008 | 6mo 4d | 1y 9mo | 2y 3moMay 2008 - Sep 2010 |
COVID crash2020 | -43.00%Mar 2020 | 2y 1mo | 9mo 11d | 2y 11moJan 2018 - Dec 2020 |
2011 bear market2011 | -34.11%Dec 2011 | 11mo 17d | 2y 8mo | 3y 8moJan 2011 - Sep 2014 |
2016 bear market2016 | -31.87%Jan 2016 | 1y 4mo | 1y 6mo | 2y 10moSep 2014 - Jul 2017 |
Bear market2022 | -24.67%Oct 2022 | 1y 3mo | 1y 5mo | 2y 9moJul 2021 - Apr 2024 |
Drawdown Indicators
| EWX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.90% | -56.78% | -7.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.98% | -9.10% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -21.37% | -18.90% | -2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -24.67% | -25.43% | +0.76% |
Max Drawdown (10Y)Largest decline over 10 years | -43.00% | -33.92% | -9.08% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -13.14% | -10.71% | -2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.03% | +0.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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