DWX vs. PATN

Last updated Aug 4, 2026

DWX (SPDR S&P International Dividend ETF) and PATN (Pacer Nasdaq International Patent Leaders ETF) are both Foreign Large Cap Equities funds - DWX tracks the S&P International Dividend Opportunities Index while PATN tracks the Nasdaq International Patent Leaders Index. Both are passively managed. Over the past year, DWX returned 19.67% vs 53.28% for PATN. Their 0.49 correlation means their historical movements had little consistent relationship. DWX charges 0.45%/yr vs 0.65%/yr for PATN.

Performance

DWX vs. PATN - Performance Comparison

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

Returns By Period

In the year-to-date period, DWX achieves a 10.64% return, which is significantly lower than PATN's 28.74% return.

DWX

• 1D: -0.42%
• 1M: 3.07%
• 6M: 6.49%
• YTD: 10.64%
• 1Y: 19.67%
• 3Y*: 16.41%
• 5Y*: 8.12%
• 10Y*: 7.29%
• ALL TIME*: 2.78%

PATN

• 1D: 0.61%
• 1M: -3.34%
• 6M: 17.25%
• YTD: 28.74%
• 1Y: 53.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DWX SPDR S&P International Dividend ETF	$956.39K	$1.20M	$907.10K
PATN Pacer Nasdaq International Patent Leaders ETF	$6.30M	$4.83M	$3.83M

DWX vs. PATN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DWX SPDR S&P International Dividend ETF	10.64%	31.62%	-8.88%
PATN Pacer Nasdaq International Patent Leaders ETF	28.74%	40.01%	-1.73%

Correlation

The correlation between DWX and PATN is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.49

DWX vs. PATN - Sectors Allocation Comparison

Sectors	DWX	PATN
Financial Services	17.3%	0.7%
Consumer Defensive	13.1%	6.2%
Communication Services	12.1%	7.0%
Industrials	10.6%	17.5%
Utilities	10.6%	-
Real Estate	10.2%	-
Energy	10.1%	0.9%
Consumer Cyclical	6.6%	10.5%
Healthcare	4.4%	9.5%
Technology	2.9%	43.9%
Basic Materials	2.1%	3.2%

Return for Risk

DWX vs. PATN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DWX

DWX Risk / Return Rank: 69
DWX Sharpe Ratio Rank: 76
DWX Sortino Ratio Rank: 74
DWX Omega Ratio Rank: 76
DWX Calmar Ratio Rank: 64
DWX Martin Ratio Rank: 57

PATN

PATN Risk / Return Rank: 83
PATN Sharpe Ratio Rank: 85
PATN Sortino Ratio Rank: 79
PATN Omega Ratio Rank: 83
PATN Calmar Ratio Rank: 88
PATN Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DWX vs. PATN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P International Dividend ETF (DWX) and Pacer Nasdaq International Patent Leaders ETF (PATN). 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	PATN	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.11	-0.32
Sortino ratio: Return per unit of downside risk	2.49	2.71	-0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.38	-0.05
Calmar ratio: Return relative to maximum drawdown	2.30	3.72	-1.42
Martin ratio: Return relative to average drawdown	6.96	11.66	-4.70

DWX vs. PATN - Sharpe Ratio Comparison

The current DWX Sharpe Ratio is 1.79, which is comparable to the PATN Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of DWX and PATN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DWX vs. PATN - Drawdown Comparison

The maximum DWX drawdown since its inception was -66.86%, which is greater than PATN's maximum drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for DWX and PATN.

Drawdown Indicators

	DWX	PATN	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-16.77%	-50.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-14.40%	+5.81%
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	-1.68%	-9.34%	+7.66%
Average Drawdown Average peak-to-trough decline	-14.02%	-3.44%	-10.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	4.58%	-1.75%

Volatility

DWX vs. PATN - Volatility Comparison

The current volatility for SPDR S&P International Dividend ETF (DWX) is 2.85%, while Pacer Nasdaq International Patent Leaders ETF (PATN) has a volatility of 8.80%. This indicates that DWX experiences smaller price fluctuations and is considered to be less risky than PATN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWX	PATN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	8.80%	-5.95%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	22.85%	-13.63%
Volatility (1Y) Calculated over the trailing 1-year period	11.05%	25.38%	-14.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.25%	22.70%	-10.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.72%	22.70%	-7.98%

DWX vs. PATN - Expense Ratio Comparison

DWX has a 0.45% expense ratio, which is lower than PATN's 0.65% expense ratio.

Dividends

DWX vs. PATN - Dividend Comparison

DWX's dividend yield for the trailing twelve months is around 4.12%, more than PATN's 1.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWX SPDR S&P International Dividend ETF	4.12%	4.44%	4.31%	4.12%	4.68%	3.89%	3.84%	4.40%	5.06%	3.85%	5.25%	5.81%
PATN Pacer Nasdaq International Patent Leaders ETF	1.69%	2.25%	0.30%	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 PATN in my portfolio?

DWX and PATN have a correlation of 0.48, 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 PATN?

PATN has higher volatility (8.80%) compared to DWX (2.85%). In terms of maximum drawdown, DWX dropped -66.86% vs PATN's -16.77%.

Which ETF is better, DWX or PATN?

On 1-year performance, PATN leads with 53.28% vs 19.67% for DWX. On fees, DWX is cheaper at 0.45% per year. On volatility, DWX has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWX or PATN?

Over the 1-year period, PATN has performed better with a 53.28% return vs 19.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWX or PATN?

DWX is cheaper with a 0.45% expense ratio, compared with 0.65% for PATN.

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

DWX has the higher dividend yield at 4.12%, compared with 1.69% for PATN.

What is the main difference between DWX and PATN?

DWX tracks S&P International Dividend Opportunities Index, while PATN tracks Nasdaq International Patent Leaders Index. They also come from different issuers: State Street and Pacer. Their fees differ too: 0.45% for DWX and 0.65% for PATN.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (2.11 vs 1.79), 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.