CGIC vs. SPDW

Last updated Jun 4, 2026

CGIC (Capital Group International Core Equity ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds. CGIC is actively managed, while SPDW is passively managed. Over the past year, CGIC returned 30.79% vs 32.15% for SPDW. With a 0.96 correlation, they move nearly in lockstep. CGIC charges 0.54%/yr vs 0.04%/yr for SPDW.

Performance

CGIC vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group International Core Equity ETF (CGIC) 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, CGIC achieves a 12.85% return, which is significantly lower than SPDW's 15.00% return.

CGIC

• 1D: -1.04%
• 1M: 5.13%
• YTD: 12.85%
• 6M: 15.39%
• 1Y: 30.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPDW

• 1D: -0.87%
• 1M: 5.56%
• YTD: 15.00%
• 6M: 18.06%
• 1Y: 32.15%
• 3Y*: 19.77%
• 5Y*: 9.38%
• 10Y*: 10.09%

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

CGIC vs. SPDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CGIC Capital Group International Core Equity ETF	12.85%	37.53%	-2.81%
SPDW SPDR Portfolio World ex-US ETF	15.00%	34.75%	-1.28%

Correlation

The correlation between CGIC 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 (All Time) Calculated using the full available price history since Jun 28, 2024	0.96

The correlation between CGIC and SPDW has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

CGIC vs. SPDW - Sectors Allocation Comparison

Sectors	CGIC	SPDW
Financial Services	20.2%	22.9%
Technology	16.7%	13.7%
Industrials	13.9%	19.2%
Basic Materials	8.8%	7.3%
Consumer Defensive	8.1%	5.7%
Consumer Cyclical	7.4%	7.8%
Communication Services	7.3%	3.8%
Energy	6.2%	5.5%
Healthcare	5.6%	8.3%
Utilities	4.1%	3.3%
Real Estate	1.8%	2.5%

Return for Risk

CGIC vs. SPDW — Risk / Return Rank

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

CGIC

CGIC Risk / Return Rank: 58
CGIC Sharpe Ratio Rank: 60
CGIC Sortino Ratio Rank: 59
CGIC Omega Ratio Rank: 60
CGIC Calmar Ratio Rank: 55
CGIC Martin Ratio Rank: 59

SPDW

SPDW Risk / Return Rank: 59
SPDW Sharpe Ratio Rank: 60
SPDW Sortino Ratio Rank: 59
SPDW Omega Ratio Rank: 59
SPDW Calmar Ratio Rank: 55
SPDW Martin Ratio Rank: 60

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.

CGIC vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group International Core Equity ETF (CGIC) 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.

	CGIC	SPDW	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.07	-0.01
Sortino ratio: Return per unit of downside risk	2.83	2.87	-0.03
Omega ratio: Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.74	2.80	-0.06
Martin ratio: Return relative to average drawdown	10.54	10.93	-0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGIC vs. SPDW - Sharpe Ratio Comparison

The current CGIC Sharpe Ratio is 2.06, which is comparable to the SPDW Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of CGIC 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

	CGIC	SPDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.07	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.48	0.24	+1.24

Drawdowns

CGIC vs. SPDW - Drawdown Comparison

The maximum CGIC drawdown since its inception was -13.10%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for CGIC and SPDW.

Drawdown Indicators

	CGIC	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-13.10%	-60.02%	+46.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-11.55%	+0.25%
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	-1.04%	-0.87%	-0.17%
Average Drawdown Average peak-to-trough decline	-2.54%	-12.91%	+10.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.95%	-0.02%

Volatility

CGIC vs. SPDW - Volatility Comparison

Capital Group International Core Equity ETF (CGIC) and SPDR Portfolio World ex-US ETF (SPDW) have volatilities of 5.82% and 5.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGIC	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	5.63%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	13.17%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	15.60%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	16.49%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	17.26%	-1.12%

CGIC vs. SPDW - Expense Ratio Comparison

CGIC has a 0.54% expense ratio, which is higher than SPDW's 0.04% expense ratio.

Dividends

CGIC vs. SPDW - Dividend Comparison

CGIC's dividend yield for the trailing twelve months is around 1.32%, less than SPDW's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGIC Capital Group International Core Equity ETF	1.32%	1.60%	0.68%	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	2.87%	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 CGIC and SPDW in my portfolio?

With a correlation of 0.97, CGIC 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, CGIC or SPDW?

CGIC has higher volatility (5.82%) compared to SPDW (5.63%). In terms of maximum drawdown, CGIC dropped -13.10% vs SPDW's -60.02%.

Which ETF is better, CGIC or SPDW?

On 1-year performance, SPDW leads with 32.15% vs 30.79% for CGIC. On fees, SPDW is cheaper at 0.04% per year. On volatility, SPDW has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGIC or SPDW?

Over the 1-year period, SPDW has performed better with a 32.15% return vs 30.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGIC or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.54% for CGIC.

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

SPDW has the higher dividend yield at 2.87%, compared with 1.32% for CGIC.

What is the main difference between CGIC and SPDW?

They also come from different issuers: Capital Group and State Street. Their fees differ too: 0.54% for CGIC and 0.04% for SPDW.

Which has better risk-adjusted returns?

SPDW currently has the higher Sharpe Ratio (2.07 vs 2.06), 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.