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CWI vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between CWI and SPY is 0.83, 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.


-0.50.00.51.0
Correlation: 0.8

Performance

CWI vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI ACWI ex-US ETF (CWI) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

100.00%200.00%300.00%400.00%500.00%NovemberDecember2025FebruaryMarchApril
101.08%
442.87%
CWI
SPY

Key characteristics

Sharpe Ratio

CWI:

0.67

SPY:

0.51

Sortino Ratio

CWI:

1.05

SPY:

0.86

Omega Ratio

CWI:

1.14

SPY:

1.13

Calmar Ratio

CWI:

0.84

SPY:

0.55

Martin Ratio

CWI:

2.75

SPY:

2.26

Ulcer Index

CWI:

4.22%

SPY:

4.55%

Daily Std Dev

CWI:

17.30%

SPY:

20.08%

Max Drawdown

CWI:

-60.76%

SPY:

-55.19%

Current Drawdown

CWI:

-1.53%

SPY:

-9.89%

Returns By Period

In the year-to-date period, CWI achieves a 7.91% return, which is significantly higher than SPY's -5.76% return. Over the past 10 years, CWI has underperformed SPY with an annualized return of 4.79%, while SPY has yielded a comparatively higher 11.99% annualized return.


CWI

YTD

7.91%

1M

0.30%

6M

3.88%

1Y

11.95%

5Y*

11.08%

10Y*

4.79%

SPY

YTD

-5.76%

1M

-3.16%

6M

-4.30%

1Y

10.76%

5Y*

15.96%

10Y*

11.99%

*Annualized

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CWI vs. SPY - Expense Ratio Comparison

CWI has a 0.30% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for CWI: current value is 0.30%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
CWI: 0.30%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

CWI vs. SPY — Risk-Adjusted Performance Rank

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

CWI
The Risk-Adjusted Performance Rank of CWI is 7070
Overall Rank
The Sharpe Ratio Rank of CWI is 6767
Sharpe Ratio Rank
The Sortino Ratio Rank of CWI is 6868
Sortino Ratio Rank
The Omega Ratio Rank of CWI is 6666
Omega Ratio Rank
The Calmar Ratio Rank of CWI is 7979
Calmar Ratio Rank
The Martin Ratio Rank of CWI is 7070
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6161
Overall Rank
The Sharpe Ratio Rank of SPY is 5757
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 5858
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6161
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6464
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6363
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

CWI vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI ex-US ETF (CWI) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for CWI, currently valued at 0.67, compared to the broader market-1.000.001.002.003.004.00
CWI: 0.67
SPY: 0.51
The chart of Sortino ratio for CWI, currently valued at 1.05, compared to the broader market-2.000.002.004.006.008.00
CWI: 1.05
SPY: 0.86
The chart of Omega ratio for CWI, currently valued at 1.14, compared to the broader market0.501.001.502.002.50
CWI: 1.14
SPY: 1.13
The chart of Calmar ratio for CWI, currently valued at 0.84, compared to the broader market0.002.004.006.008.0010.0012.00
CWI: 0.84
SPY: 0.55
The chart of Martin ratio for CWI, currently valued at 2.75, compared to the broader market0.0020.0040.0060.00
CWI: 2.75
SPY: 2.26

The current CWI Sharpe Ratio is 0.67, which is higher than the SPY Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of CWI and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.67
0.51
CWI
SPY

Dividends

CWI vs. SPY - Dividend Comparison

CWI's dividend yield for the trailing twelve months is around 2.68%, more than SPY's 1.30% yield.


TTM20242023202220212020201920182017201620152014
CWI
SPDR MSCI ACWI ex-US ETF
2.68%2.89%2.80%3.18%2.65%2.07%3.05%2.81%2.29%2.45%2.62%3.21%
SPY
SPDR S&P 500 ETF
1.30%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

CWI vs. SPY - Drawdown Comparison

The maximum CWI drawdown since its inception was -60.76%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CWI and SPY. For additional features, visit the drawdowns tool.


-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-1.53%
-9.89%
CWI
SPY

Volatility

CWI vs. SPY - Volatility Comparison

The current volatility for SPDR MSCI ACWI ex-US ETF (CWI) is 11.35%, while SPDR S&P 500 ETF (SPY) has a volatility of 15.12%. This indicates that CWI experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%NovemberDecember2025FebruaryMarchApril
11.35%
15.12%
CWI
SPY