DWX vs. BUFI

Last updated Jun 3, 2026

DWX (SPDR S&P International Dividend ETF) and BUFI (AB International Buffer ETF) are both exchange-traded funds - DWX is a Foreign Large Cap Equities fund tracking the S&P International Dividend Opportunities Index, while BUFI is a Defined Outcome fund actively managed by AllianceBernstein. DWX is passively managed, while BUFI is actively managed. Over the past year, DWX returned 15.35% vs 12.79% for BUFI. A 0.72 correlation means they provide meaningful diversification when combined. DWX charges 0.45%/yr vs 0.69%/yr for BUFI.

Performance

DWX vs. BUFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P International Dividend ETF (DWX) and AB International Buffer ETF (BUFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWX achieves a 6.54% return, which is significantly higher than BUFI's 5.25% return.

DWX

• 1D: -0.01%
• 1M: -0.12%
• YTD: 6.54%
• 6M: 9.07%
• 1Y: 15.35%
• 3Y*: 15.08%
• 5Y*: 7.37%
• 10Y*: 7.32%

BUFI

• 1D: 0.21%
• 1M: 1.45%
• YTD: 5.25%
• 6M: 6.93%
• 1Y: 12.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWX vs. BUFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DWX SPDR S&P International Dividend ETF	6.54%	31.62%	-2.72%
BUFI AB International Buffer ETF	5.25%	16.50%	-1.31%

Correlation

The correlation between DWX and BUFI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.72

The correlation between DWX and BUFI has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

Return for Risk

DWX vs. BUFI — Risk / Return Rank

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

DWX

DWX Risk / Return Rank: 39
DWX Sharpe Ratio Rank: 40
DWX Sortino Ratio Rank: 38
DWX Omega Ratio Rank: 40
DWX Calmar Ratio Rank: 38
DWX Martin Ratio Rank: 39

BUFI

BUFI Risk / Return Rank: 46
BUFI Sharpe Ratio Rank: 43
BUFI Sortino Ratio Rank: 44
BUFI Omega Ratio Rank: 46
BUFI Calmar Ratio Rank: 46
BUFI Martin Ratio Rank: 53

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.

DWX vs. BUFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P International Dividend ETF (DWX) 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.

	DWX	BUFI	Difference
Sharpe ratio Return per unit of total volatility	1.43	1.53	-0.10
Sortino ratio Return per unit of downside risk	2.01	2.25	-0.24
Omega ratio Gain probability vs. loss probability	1.26	1.30	-0.03
Calmar ratio Return relative to maximum drawdown	1.90	2.34	-0.44
Martin ratio Return relative to average drawdown	6.21	9.31	-3.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DWX vs. BUFI - Sharpe Ratio Comparison

The current DWX Sharpe Ratio is 1.43, which is comparable to the BUFI Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of DWX and BUFI, 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

	DWX	BUFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.53	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	1.53	-1.40

Drawdowns

DWX vs. BUFI - Drawdown Comparison

The maximum DWX drawdown since its inception was -66.86%, which is greater than BUFI's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for DWX and BUFI.

Drawdown Indicators

	DWX	BUFI	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-7.43%	-59.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-5.69%	-2.90%
Max Drawdown (3Y) Largest decline over 3 years	-10.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.05%	—	—
Current Drawdown Current decline from peak	-3.85%	-0.01%	-3.84%
Average Drawdown Average peak-to-trough decline	-14.13%	-0.86%	-13.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	1.43%	+1.19%

Volatility

DWX vs. BUFI - Volatility Comparison

SPDR S&P International Dividend ETF (DWX) has a higher volatility of 3.08% compared to AB International Buffer ETF (BUFI) at 2.29%. This indicates that DWX'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.

Volatility by Period

	DWX	BUFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	2.29%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	8.69%	7.04%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.82%	8.43%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.21%	9.16%	+3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.09%	9.16%	+5.93%

DWX vs. BUFI - Expense Ratio Comparison

DWX has a 0.45% expense ratio, which is lower than BUFI's 0.69% expense ratio.

Dividends

DWX vs. BUFI - Dividend Comparison

DWX's dividend yield for the trailing twelve months is around 4.19%, 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%
DWX SPDR S&P International Dividend ETF	4.19%	4.44%	4.31%	4.12%	4.68%	3.89%	3.84%	4.40%	5.06%	3.85%	5.25%	5.81%

Frequently Asked Questions

Can I hold both DWX and BUFI in my portfolio?

DWX and BUFI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWX or BUFI?

DWX has higher volatility (3.08%) compared to BUFI (2.29%). In terms of maximum drawdown, DWX dropped -66.86% vs BUFI's -7.43%.

Which ETF is better, DWX or BUFI?

On 1-year performance, DWX leads with 15.35% vs 12.79% for BUFI. On fees, DWX is cheaper at 0.45% per year. On volatility, BUFI has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWX or BUFI?

Over the 1-year period, DWX has performed better with a 15.35% return vs 12.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWX or BUFI?

DWX is cheaper with a 0.45% expense ratio, compared with 0.69% for BUFI.

Which ETF pays a higher dividend yield, DWX or BUFI?

DWX has the higher dividend yield at 4.19%, compared with 0.00% for BUFI.

What is the main difference between DWX and BUFI?

DWX 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: 0.45% for DWX and 0.69% for BUFI.

Which has better risk-adjusted returns?

BUFI currently has the higher Sharpe Ratio (1.53 vs 1.43), 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.