CWI vs. SPY
Compare and contrast key facts about SPDR MSCI ACWI ex-US ETF (CWI) and SPDR S&P 500 ETF (SPY).
CWI and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both CWI and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CWI or SPY.
Key characteristics
| CWI | SPY | |
|---|---|---|
| YTD Return | 2.29% | 5.60% |
| 1Y Return | 10.02% | 23.55% |
| 3Y Return (Ann) | 0.50% | 7.83% |
| 5Y Return (Ann) | 5.06% | 13.05% |
| 10Y Return (Ann) | 4.06% | 12.30% |
| Sharpe Ratio | 0.71 | 1.91 |
| Daily Std Dev | 12.55% | 11.63% |
| Max Drawdown | -60.76% | -55.19% |
| Current Drawdown | -3.32% | -4.36% |
Correlation
The correlation between CWI and SPY is 0.84, 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.
Performance
CWI vs. SPY - Performance Comparison
In the year-to-date period, CWI achieves a 2.29% return, which is significantly lower than SPY's 5.60% return. Over the past 10 years, CWI has underperformed SPY with an annualized return of 4.06%, while SPY has yielded a comparatively higher 12.30% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
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.
Dividends
CWI vs. SPY - Dividend Comparison
CWI's dividend yield for the trailing twelve months is around 2.74%, more than SPY's 1.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWI SPDR MSCI ACWI ex-US ETF | 2.74% | 2.80% | 3.17% | 2.65% | 2.07% | 3.05% | 2.81% | 2.29% | 2.45% | 2.62% | 3.21% | 2.69% |
SPY SPDR S&P 500 ETF | 1.34% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
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.
Volatility
CWI vs. SPY - Volatility Comparison
The current volatility for SPDR MSCI ACWI ex-US ETF (CWI) is 3.63%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.88%. 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.