CWI vs. BUFI
CWI (State Street SPDR MSCI ACWI ex-US ETF) and BUFI (AB International Buffer ETF) are both exchange-traded funds - CWI is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA Index, while BUFI is a Defined Outcome fund actively managed by AllianceBernstein. CWI is passively managed, while BUFI is actively managed. Over the past year, CWI returned 29.12% vs 14.79% for BUFI. Their correlation of 0.91 means they have usually moved in the same direction. CWI charges 0.30%/yr vs 0.69%/yr for BUFI.
Performance
CWI vs. BUFI - Performance Comparison
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Returns By Period
In the year-to-date period, CWI achieves a 13.37% return, which is significantly higher than BUFI's 6.77% return.
CWI
- 1D
- -0.30%
- 1M
- 0.10%
- 6M
- 7.85%
- YTD
- 13.37%
- 1Y
- 29.12%
- 3Y*
- 17.89%
- 5Y*
- 9.44%
- 10Y*
- 9.70%
- ALL TIME*
- 5.43%
BUFI
- 1D
- -0.60%
- 1M
- 0.60%
- 6M
- 4.45%
- YTD
- 6.77%
- 1Y
- 14.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $181.70K | $602.68K | $512.75K | |
| $9.74M | $9.97M | $9.68M |
CWI vs. BUFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CWI State Street SPDR MSCI ACWI ex-US ETF | 13.37% | 32.75% | -4.38% |
BUFI AB International Buffer ETF | 6.77% | 16.50% | -1.18% |
Correlation
The correlation between CWI and BUFI is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024 | 0.91 |
The correlation between CWI and BUFI has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
CWI vs. BUFI — Risk / Return Rank
CWI
BUFI
CWI vs. BUFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI ACWI ex-US ETF (CWI) and AB International Buffer ETF (BUFI). 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.
| CWI | BUFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.61 | -0.12 |
| Martin ratioReturn relative to average drawdown | 9.12 | 10.48 | -1.36 |
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Drawdowns
CWI vs. BUFI - Drawdown Comparison
The maximum CWI drawdown since its inception was -60.77%, which is greater than BUFI's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for CWI and BUFI.
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Drawdown Indicators
| CWI | BUFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.77% | -7.43% | -53.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.47% | -5.69% | -5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -13.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.64% | — | — |
Current DrawdownCurrent decline from peak | -2.61% | -0.60% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -12.77% | -0.84% | -11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 1.41% | +1.71% |
Volatility
CWI vs. BUFI - Volatility Comparison
State Street SPDR MSCI ACWI ex-US ETF (CWI) has a higher volatility of 5.63% compared to AB International Buffer ETF (BUFI) at 3.43%. This indicates that CWI's price experiences larger fluctuations and is considered to be riskier than BUFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWI | BUFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 3.43% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 15.27% | 7.96% | +7.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.17% | 9.04% | +8.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 9.28% | +7.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 9.28% | +7.76% |
CWI vs. BUFI - Expense Ratio Comparison
CWI has a 0.30% expense ratio, which is lower than BUFI's 0.69% expense ratio.
Dividends
CWI vs. BUFI - Dividend Comparison
CWI's dividend yield for the trailing twelve months is around 2.72%, while BUFI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFI AB International Buffer 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% |
CWI State Street SPDR MSCI ACWI ex-US ETF | 2.72% | 2.97% | 2.89% | 2.80% | 3.17% | 2.65% | 2.07% | 3.05% | 2.81% | 2.29% | 2.45% | 2.62% |
Frequently Asked Questions
With a correlation of 0.92, CWI and BUFI 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.
CWI has higher volatility (5.63%) compared to BUFI (3.43%). In terms of maximum drawdown, CWI dropped -60.77% vs BUFI's -7.43%.
On 1-year performance, CWI leads with 29.12% vs 14.79% for BUFI. On fees, CWI is cheaper at 0.30% per year. On volatility, BUFI has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CWI has performed better with a 29.12% return vs 14.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CWI is cheaper with a 0.30% expense ratio, compared with 0.69% for BUFI.
CWI has the higher dividend yield at 2.72%, compared with 0.00% for BUFI.
CWI is categorized as Foreign Large Cap Equities, while BUFI is Defined Outcome. They also come from different issuers: State Street and AllianceBernstein. Their fees differ too: 0.30% for CWI and 0.69% for BUFI.
CWI currently has the higher Sharpe Ratio (1.66 vs 1.64), 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.
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