BBIN vs. SPDW

Last updated Jun 3, 2026

BBIN (JPMorgan BetaBuilders International Equity ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds - BBIN tracks the Morningstar Developed Markets ex-North America Target Market Exposure Index while SPDW tracks the S&P Developed Ex-U.S. BMI Index. Both are passively managed. Over the past 5 years, BBIN returned 8.84%/yr vs 9.77%/yr for SPDW. With a 0.99 correlation, they move nearly in lockstep. BBIN charges 0.07%/yr vs 0.04%/yr for SPDW.

Performance

BBIN vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders International Equity ETF (BBIN) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBIN achieves a 9.35% return, which is significantly lower than SPDW's 16.01% return.

BBIN

• 1D: 0.57%
• 1M: 2.54%
• YTD: 9.35%
• 6M: 12.30%
• 1Y: 21.43%
• 3Y*: 16.97%
• 5Y*: 8.84%
• 10Y*: —

SPDW

• 1D: 0.59%
• 1M: 5.38%
• YTD: 16.01%
• 6M: 19.78%
• 1Y: 32.42%
• 3Y*: 20.12%
• 5Y*: 9.77%
• 10Y*: 10.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBIN vs. SPDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BBIN JPMorgan BetaBuilders International Equity ETF	9.35%	31.86%	3.65%	18.54%	-14.29%	11.74%	7.91%	3.14%
SPDW SPDR Portfolio World ex-US ETF	16.01%	34.75%	3.55%	17.81%	-15.98%	11.45%	9.90%	3.60%

Correlation

The correlation between BBIN and SPDW is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Dec 6, 2019	0.99

The correlation between BBIN and SPDW has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

BBIN vs. SPDW - Sectors Allocation Comparison

Sectors	BBIN	SPDW
Financial Services	24.8%	22.9%
Industrials	16.6%	19.2%
Technology	12.5%	13.7%
Healthcare	9.0%	8.3%
Consumer Defensive	5.9%	5.7%
Consumer Cyclical	5.4%	7.8%
Basic Materials	5.0%	7.3%
Communication Services	3.2%	3.8%
Energy	3.0%	5.5%
Utilities	1.7%	3.3%
Real Estate	0.3%	2.5%

Return for Risk

BBIN vs. SPDW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBIN

BBIN Risk / Return Rank: 40
BBIN Sharpe Ratio Rank: 38
BBIN Sortino Ratio Rank: 39
BBIN Omega Ratio Rank: 37
BBIN Calmar Ratio Rank: 39
BBIN Martin Ratio Rank: 44

SPDW

SPDW Risk / Return Rank: 61
SPDW Sharpe Ratio Rank: 62
SPDW Sortino Ratio Rank: 61
SPDW Omega Ratio Rank: 61
SPDW Calmar Ratio Rank: 58
SPDW Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBIN vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders International Equity ETF (BBIN) and SPDR Portfolio World ex-US ETF (SPDW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BBIN	SPDW	Difference
Sharpe ratio Return per unit of total volatility	1.38	2.09	-0.71
Sortino ratio Return per unit of downside risk	2.01	2.89	-0.88
Omega ratio Gain probability vs. loss probability	1.25	1.38	-0.13
Calmar ratio Return relative to maximum drawdown	1.98	2.95	-0.96
Martin ratio Return relative to average drawdown	7.38	11.54	-4.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBIN vs. SPDW - Sharpe Ratio Comparison

The current BBIN Sharpe Ratio is 1.38, which is lower than the SPDW Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of BBIN and SPDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBIN	SPDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	2.09	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.60	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.24	+0.30

Drawdowns

BBIN vs. SPDW - Drawdown Comparison

The maximum BBIN drawdown since its inception was -33.37%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for BBIN and SPDW.

Drawdown Indicators

	BBIN	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-33.37%	-60.02%	+26.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.57%	-11.55%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.98%	-13.53%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-29.24%	-30.21%	+0.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-1.14%	0.00%	-1.14%
Average Drawdown Average peak-to-trough decline	-6.31%	-12.91%	+6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.95%	+0.16%

Volatility

BBIN vs. SPDW - Volatility Comparison

The current volatility for JPMorgan BetaBuilders International Equity ETF (BBIN) is 5.31%, while SPDR Portfolio World ex-US ETF (SPDW) has a volatility of 5.67%. This indicates that BBIN experiences smaller price fluctuations and is considered to be less risky than SPDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBIN	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	5.67%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	13.14%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	15.60%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	16.49%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.13%	17.26%	+1.87%

BBIN vs. SPDW - Expense Ratio Comparison

BBIN has a 0.07% expense ratio, which is higher than SPDW's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBIN vs. SPDW - Dividend Comparison

BBIN's dividend yield for the trailing twelve months is around 3.61%, more than SPDW's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBIN JPMorgan BetaBuilders International Equity ETF	3.61%	3.87%	3.41%	3.20%	2.83%	3.54%	1.07%	0.09%	0.00%	0.00%	0.00%	0.00%
SPDW SPDR Portfolio World ex-US ETF	2.85%	3.30%	3.19%	2.75%	3.12%	3.04%	1.87%	3.13%	3.08%	1.86%	3.11%	2.78%

Frequently Asked Questions

Can I hold both BBIN and SPDW in my portfolio?

With a correlation of 0.97, BBIN and SPDW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBIN or SPDW?

SPDW has higher volatility (5.67%) compared to BBIN (5.31%). In terms of maximum drawdown, BBIN dropped -33.37% vs SPDW's -60.02%.

Which ETF is better, BBIN or SPDW?

On 5-year performance, SPDW leads with 9.77% vs 8.84% for BBIN. On fees, SPDW is cheaper at 0.04% per year. On volatility, BBIN has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBIN or SPDW?

Over the 5-year period, SPDW has performed better with a 9.77% return vs 8.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBIN or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.07% for BBIN.

Which ETF pays a higher dividend yield, BBIN or SPDW?

BBIN has the higher dividend yield at 3.61%, compared with 2.85% for SPDW.

What is the main difference between BBIN and SPDW?

BBIN tracks Morningstar Developed Markets ex-North America Target Market Exposure Index, while SPDW tracks S&P Developed Ex-U.S. BMI Index. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.07% for BBIN and 0.04% for SPDW.

Which has better risk-adjusted returns?

SPDW currently has the higher Sharpe Ratio (2.09 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.