BINV vs. DWX

Last updated Jun 26, 2026

BINV (Brandes International ETF) and DWX (SPDR S&P International Dividend ETF) are both Foreign Large Cap Equities funds. BINV is actively managed, while DWX is passively managed. Over the past year, BINV returned 22.23% vs 15.10% for DWX. A 0.73 correlation means they provide meaningful diversification when combined. BINV charges 0.70%/yr vs 0.45%/yr for DWX.

Performance

BINV vs. DWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes International ETF (BINV) and SPDR S&P International Dividend ETF (DWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BINV achieves a 5.75% return, which is significantly lower than DWX's 6.38% return.

BINV

• 1D: 0.32%
• 1M: -1.25%
• YTD: 5.75%
• 6M: 5.84%
• 1Y: 22.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWX

• 1D: 0.51%
• 1M: -0.86%
• YTD: 6.38%
• 6M: 6.47%
• 1Y: 15.10%
• 3Y*: 15.29%
• 5Y*: 7.34%
• 10Y*: 8.09%

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

BINV vs. DWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BINV Brandes International ETF	5.75%	37.84%	7.71%	12.86%
DWX SPDR S&P International Dividend ETF	6.38%	31.62%	2.56%	12.01%

Correlation

The correlation between BINV and DWX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 5, 2023	0.73

The correlation between BINV and DWX has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.

BINV vs. DWX - Sectors Allocation Comparison

Sectors	BINV	DWX
Consumer Defensive	23.1%	12.8%
Healthcare	17.1%	4.3%
Consumer Cyclical	15.1%	6.3%
Industrials	11.0%	10.5%
Technology	9.1%	3.4%
Financial Services	7.9%	16.5%
Communication Services	6.2%	12.9%
Basic Materials	5.0%	2.2%
Energy	2.2%	10.3%
Real Estate	1.9%	10.1%
Utilities	1.4%	10.7%

Return for Risk

BINV vs. DWX — Risk / Return Rank

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

BINV

BINV Risk / Return Rank: 49
BINV Sharpe Ratio Rank: 54
BINV Sortino Ratio Rank: 55
BINV Omega Ratio Rank: 50
BINV Calmar Ratio Rank: 44
BINV Martin Ratio Rank: 44

DWX

DWX Risk / Return Rank: 42
DWX Sharpe Ratio Rank: 45
DWX Sortino Ratio Rank: 43
DWX Omega Ratio Rank: 43
DWX Calmar Ratio Rank: 40
DWX Martin Ratio Rank: 39

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.

BINV vs. DWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes International ETF (BINV) and SPDR S&P International Dividend ETF (DWX). 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.

	BINV	DWX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.38	+0.23
Sortino ratio: Return per unit of downside risk	2.34	1.95	+0.39
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	1.94	1.77	+0.18
Martin ratio: Return relative to average drawdown	6.40	5.43	+0.97

BINV vs. DWX - Sharpe Ratio Comparison

The current BINV Sharpe Ratio is 1.61, which is comparable to the DWX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of BINV and DWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BINV vs. DWX - Drawdown Comparison

The maximum BINV drawdown since its inception was -14.91%, smaller than the maximum DWX drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for BINV and DWX.

Drawdown Indicators

	BINV	DWX	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-66.86%	+51.95%
Max Drawdown (1Y) Largest decline over 1 year	-11.50%	-8.59%	-2.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.05%	—
Current Drawdown Current decline from peak	-5.04%	-3.98%	-1.06%
Average Drawdown Average peak-to-trough decline	-2.48%	-14.09%	+11.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	2.79%	+0.69%

Volatility

BINV vs. DWX - Volatility Comparison

Brandes International ETF (BINV) has a higher volatility of 3.57% compared to SPDR S&P International Dividend ETF (DWX) at 2.94%. This indicates that BINV's price experiences larger fluctuations and is considered to be riskier than DWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BINV	DWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	2.94%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	8.96%	+2.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.92%	10.98%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.73%	12.23%	+2.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.73%	14.82%	-0.09%

BINV vs. DWX - Expense Ratio Comparison

BINV has a 0.70% expense ratio, which is higher than DWX's 0.45% expense ratio.

Dividends

BINV vs. DWX - Dividend Comparison

BINV's dividend yield for the trailing twelve months is around 2.07%, less than DWX's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BINV Brandes International ETF	2.07%	2.23%	2.40%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DWX SPDR S&P International Dividend ETF	4.29%	4.44%	4.31%	4.12%	4.68%	3.89%	3.84%	4.40%	5.06%	3.85%	5.25%	5.81%

Frequently Asked Questions

Can I hold both BINV and DWX in my portfolio?

BINV and DWX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BINV or DWX?

BINV has higher volatility (3.57%) compared to DWX (2.94%). In terms of maximum drawdown, BINV dropped -14.91% vs DWX's -66.86%.

Which ETF is better, BINV or DWX?

On 1-year performance, BINV leads with 22.23% vs 15.10% for DWX. On fees, DWX is cheaper at 0.45% per year. On volatility, DWX has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BINV or DWX?

Over the 1-year period, BINV has performed better with a 22.23% return vs 15.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BINV or DWX?

DWX is cheaper with a 0.45% expense ratio, compared with 0.70% for BINV.

Which ETF pays a higher dividend yield, BINV or DWX?

DWX has the higher dividend yield at 4.29%, compared with 2.07% for BINV.

What is the main difference between BINV and DWX?

They also come from different issuers: Brandes and State Street. Their fees differ too: 0.70% for BINV and 0.45% for DWX.

Which has better risk-adjusted returns?

BINV currently has the higher Sharpe Ratio (1.61 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.