CWI vs. DISVX
Compare and contrast key facts about SPDR MSCI ACWI ex-US ETF (CWI) and DFA International Small Cap Value Portfolio (DISVX).
CWI is a passively managed fund by State Street that tracks the performance of the MSCI All Country World ex-U.S. Index. It was launched on Jan 10, 2007. DISVX is managed by Dimensional. It was launched on Dec 28, 1994.
Performance
CWI vs. DISVX - Performance Comparison
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CWI vs. DISVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWI SPDR MSCI ACWI ex-US ETF | 1.87% | 32.75% | 6.27% | 15.74% | -15.39% | 8.81% | 9.83% | 21.92% | -13.83% | 26.89% |
DISVX DFA International Small Cap Value Portfolio | 0.00% | 52.17% | 7.88% | 17.58% | -9.80% | 15.84% | 0.82% | 21.04% | -23.36% | 25.41% |
Returns By Period
Over the past 10 years, CWI has underperformed DISVX with an annualized return of 9.02%, while DISVX has yielded a comparatively higher 10.01% annualized return.
CWI
- 1D
- 3.22%
- 1M
- -8.11%
- YTD
- 1.87%
- 6M
- 6.68%
- 1Y
- 27.73%
- 3Y*
- 15.86%
- 5Y*
- 7.61%
- 10Y*
- 9.02%
DISVX
- 1D
- -0.35%
- 1M
- -12.61%
- YTD
- 0.00%
- 6M
- 7.44%
- 1Y
- 37.90%
- 3Y*
- 21.91%
- 5Y*
- 13.28%
- 10Y*
- 10.01%
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CWI vs. DISVX - Expense Ratio Comparison
CWI has a 0.30% expense ratio, which is lower than DISVX's 0.46% expense ratio.
Return for Risk
CWI vs. DISVX — Risk / Return Rank
CWI
DISVX
CWI vs. DISVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI ex-US ETF (CWI) and DFA International Small Cap Value Portfolio (DISVX). 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.
| CWI | DISVX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.61 | 2.26 | -0.65 |
Sortino ratioReturn per unit of downside risk | 2.21 | 2.78 | -0.57 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.45 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.59 | -0.25 |
Martin ratioReturn relative to average drawdown | 9.07 | 10.39 | -1.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CWI | DISVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 2.26 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.84 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.60 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.50 | -0.28 |
Correlation
The correlation between CWI and DISVX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CWI vs. DISVX - Dividend Comparison
CWI's dividend yield for the trailing twelve months is around 2.91%, less than DISVX's 7.21% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWI SPDR MSCI ACWI ex-US ETF | 2.91% | 2.97% | 2.89% | 2.80% | 3.17% | 2.65% | 2.07% | 3.05% | 2.81% | 2.29% | 2.45% | 2.62% |
DISVX DFA International Small Cap Value Portfolio | 7.21% | 7.17% | 4.56% | 3.87% | 2.40% | 3.51% | 1.84% | 3.97% | 5.91% | 3.77% | 5.85% | 3.51% |
Drawdowns
CWI vs. DISVX - Drawdown Comparison
The maximum CWI drawdown since its inception was -60.77%, roughly equal to the maximum DISVX drawdown of -61.57%. Use the drawdown chart below to compare losses from any high point for CWI and DISVX.
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Drawdown Indicators
| CWI | DISVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.77% | -61.57% | +0.80% |
Max Drawdown (1Y)Largest decline over 1 year | -11.47% | -13.26% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -29.45% | -27.43% | -2.02% |
Max Drawdown (10Y)Largest decline over 10 years | -34.64% | -49.24% | +14.60% |
Current DrawdownCurrent decline from peak | -8.57% | -12.61% | +4.04% |
Average DrawdownAverage peak-to-trough decline | -12.95% | -12.24% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 3.30% | -0.34% |
Volatility
CWI vs. DISVX - Volatility Comparison
SPDR MSCI ACWI ex-US ETF (CWI) has a higher volatility of 8.14% compared to DFA International Small Cap Value Portfolio (DISVX) at 6.40%. This indicates that CWI's price experiences larger fluctuations and is considered to be riskier than DISVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWI | DISVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.14% | 6.40% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.60% | 10.69% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.37% | 16.28% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 15.93% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 16.71% | +0.34% |