DWX vs. IFLO

Last updated Jun 26, 2026

DWX (SPDR S&P International Dividend ETF) and IFLO (VictoryShares International Free Cash Flow ETF) are both Foreign Large Cap Equities funds. Over the past year, DWX returned 15.10% vs 32.28% for IFLO. A 0.77 correlation means they provide meaningful diversification when combined. DWX charges 0.45%/yr vs 0.56%/yr for IFLO.

Performance

DWX vs. IFLO - Performance Comparison

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

Returns By Period

In the year-to-date period, DWX achieves a 6.38% return, which is significantly lower than IFLO's 16.93% return.

DWX

• 1D: 0.51%
• 1M: -0.86%
• YTD: 6.38%
• 6M: 6.47%
• 1Y: 15.10%
• 3Y*: 15.29%
• 5Y*: 7.34%
• 10Y*: 8.09%

IFLO

• 1D: 0.43%
• 1M: -1.62%
• YTD: 16.93%
• 6M: 16.46%
• 1Y: 32.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWX vs. IFLO - Yearly Performance Comparison

	2026 (YTD)	2025
DWX SPDR S&P International Dividend ETF	6.38%	8.19%
IFLO VictoryShares International Free Cash Flow ETF	16.93%	13.12%

Correlation

The correlation between DWX and IFLO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.77

DWX vs. IFLO - Sectors Allocation Comparison

Sectors	DWX	IFLO
Financial Services	16.5%	1.1%
Communication Services	12.9%	6.7%
Consumer Defensive	12.8%	2.8%
Utilities	10.7%	1.0%
Industrials	10.5%	18.1%
Energy	10.3%	12.1%
Real Estate	10.1%	0.0%
Consumer Cyclical	6.3%	13.8%
Healthcare	4.3%	11.7%
Technology	3.4%	21.5%
Basic Materials	2.2%	11.3%

Return for Risk

DWX vs. IFLO — Risk / Return Rank

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

DWX

DWX Risk / Return Rank: 42
DWX Sharpe Ratio Rank: 45
DWX Sortino Ratio Rank: 43
DWX Omega Ratio Rank: 43
DWX Calmar Ratio Rank: 40
DWX Martin Ratio Rank: 39

IFLO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. IFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P International Dividend ETF (DWX) and VictoryShares International Free Cash Flow ETF (IFLO). 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.

	DWX	IFLO	Difference
Sharpe ratio: Return per unit of total volatility	1.38	—	—
Sortino ratio: Return per unit of downside risk	1.95	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	1.77	—	—
Martin ratio: Return relative to average drawdown	5.43	—	—

Drawdowns

DWX vs. IFLO - Drawdown Comparison

The maximum DWX drawdown since its inception was -66.86%, which is greater than IFLO's maximum drawdown of -6.44%. Use the drawdown chart below to compare losses from any high point for DWX and IFLO.

Drawdown Indicators

	DWX	IFLO	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-6.44%	-60.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-6.44%	-2.15%
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	-3.98%	-3.37%	-0.61%
Average Drawdown Average peak-to-trough decline	-14.09%	-1.25%	-12.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	—	—

Volatility

Volatility by Period

	DWX	IFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	14.75%	-3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.23%	14.75%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	14.75%	+0.07%

DWX vs. IFLO - Expense Ratio Comparison

DWX has a 0.45% expense ratio, which is lower than IFLO's 0.56% expense ratio.

Dividends

DWX vs. IFLO - Dividend Comparison

DWX's dividend yield for the trailing twelve months is around 4.29%, more than IFLO's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWX SPDR S&P International Dividend ETF	4.29%	4.44%	4.31%	4.12%	4.68%	3.89%	3.84%	4.40%	5.06%	3.85%	5.25%	5.81%
IFLO VictoryShares International Free Cash Flow ETF	1.51%	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DWX and IFLO in my portfolio?

DWX and IFLO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DWX or IFLO?

On 1-year performance, IFLO leads with 32.28% vs 15.10% for DWX. On fees, DWX is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWX or IFLO?

Over the 1-year period, IFLO has performed better with a 32.28% return vs 15.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWX or IFLO?

DWX is cheaper with a 0.45% expense ratio, compared with 0.56% for IFLO.

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

DWX has the higher dividend yield at 4.29%, compared with 1.51% for IFLO.

What is the main difference between DWX and IFLO?

They also come from different issuers: State Street and VictoryShares. Their fees differ too: 0.45% for DWX and 0.56% for IFLO.