BGIA vs. SPDW

Last updated Jul 4, 2026

BGIA (Baillie Gifford International Alpha ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds. BGIA is actively managed, while SPDW is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. BGIA charges 0.59%/yr vs 0.04%/yr for SPDW.

Performance

BGIA vs. SPDW - Performance Comparison

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

Returns By Period

BGIA

• 1D: 0.21%
• 1M: -1.54%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPDW

• 1D: 0.62%
• 1M: -0.57%
• 6M: 13.01%
• YTD: 14.34%
• 1Y: 27.20%
• 3Y*: 18.89%
• 5Y*: 9.60%
• 10Y*: 10.30%

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

BGIA vs. SPDW - Yearly Performance Comparison

	2026 (YTD)
BGIA Baillie Gifford International Alpha ETF	-2.53%
SPDW SPDR Portfolio World ex-US ETF	-1.44%

Correlation

The correlation between BGIA and SPDW is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 3, 2026	0.91

Return for Risk

BGIA vs. SPDW — Risk / Return Rank

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

BGIA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPDW

SPDW Risk / Return Rank: 59
SPDW Sharpe Ratio Rank: 60
SPDW Sortino Ratio Rank: 58
SPDW Omega Ratio Rank: 60
SPDW Calmar Ratio Rank: 58
SPDW Martin Ratio Rank: 62

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.

BGIA vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baillie Gifford International Alpha ETF (BGIA) 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.

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.

	BGIA	SPDW	Difference
Sharpe ratio: Return per unit of total volatility	—	1.65	—
Sortino ratio: Return per unit of downside risk	—	2.28	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.38	—
Martin ratio: Return relative to average drawdown	—	9.12	—

Drawdowns

BGIA vs. SPDW - Drawdown Comparison

The maximum BGIA drawdown since its inception was -4.88%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for BGIA and SPDW.

Drawdown Indicators

	BGIA	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-4.88%	-60.02%	+55.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-3.23%	-2.09%	-1.14%
Average Drawdown Average peak-to-trough decline	-2.34%	-12.86%	+10.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.01%	—

Volatility

Volatility by Period

	BGIA	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.16%	16.72%	+8.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.16%	16.72%	+8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.16%	17.09%	+8.07%

BGIA vs. SPDW - Expense Ratio Comparison

BGIA has a 0.59% expense ratio, which is higher than SPDW's 0.04% expense ratio.

Dividends

BGIA vs. SPDW - Dividend Comparison

BGIA has not paid dividends to shareholders, while SPDW's dividend yield for the trailing twelve months is around 3.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGIA Baillie Gifford International Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPDW SPDR Portfolio World ex-US ETF	3.03%	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 BGIA and SPDW in my portfolio?

With a correlation of 0.91, BGIA 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 ETF is better, BGIA or SPDW?

On fees, SPDW is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BGIA or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.59% for BGIA.

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

SPDW has the higher dividend yield at 3.03%, compared with 0.00% for BGIA.

What is the main difference between BGIA and SPDW?

They also come from different issuers: Baillie Gifford and State Street. Their fees differ too: 0.59% for BGIA and 0.04% for SPDW.