GQGIX vs. SPDW

Last updated Apr 1, 2026

Compare and contrast key facts about GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) and SPDR Portfolio World ex-US ETF (SPDW).

GQGIX is managed by GQG Partners. SPDW is a passively managed fund by State Street that tracks the performance of the S&P Developed Ex-U.S. BMI Index. It was launched on Apr 26, 2007.

Performance

GQGIX vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

GQGIX vs. SPDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	0.45%	9.92%	6.19%	28.81%	-20.85%	-2.37%	33.98%	21.08%	-14.70%	30.20%
SPDW SPDR Portfolio World ex-US ETF	2.79%	34.75%	3.55%	17.81%	-15.98%	11.45%	9.90%	22.41%	-14.22%	25.13%

Returns By Period

In the year-to-date period, GQGIX achieves a 0.45% return, which is significantly lower than SPDW's 2.79% return.

GQGIX

• 1D: -0.61%
• 1M: -7.74%
• YTD: 0.45%
• 6M: 4.06%
• 1Y: 10.75%
• 3Y*: 13.55%
• 5Y*: 3.40%
• 10Y*: —

SPDW

• 1D: 3.30%
• 1M: -8.46%
• YTD: 2.79%
• 6M: 8.61%
• 1Y: 29.84%
• 3Y*: 16.03%
• 5Y*: 8.28%
• 10Y*: 9.30%

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

GQGIX vs. SPDW - Expense Ratio Comparison

GQGIX has a 0.98% expense ratio, which is higher than SPDW's 0.04% expense ratio.

GQGIX

GQG Partners Emerging Markets Equity Fund Institutional Shares

SPDW

SPDR Portfolio World ex-US ETF

Return for Risk

GQGIX vs. SPDW — Risk / Return Rank

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

GQGIX

GQGIX Risk / Return Rank: 38
GQGIX Sharpe Ratio Rank: 42
GQGIX Sortino Ratio Rank: 40
GQGIX Omega Ratio Rank: 33
GQGIX Calmar Ratio Rank: 39
GQGIX Martin Ratio Rank: 34

SPDW

SPDW Risk / Return Rank: 87
SPDW Sharpe Ratio Rank: 86
SPDW Sortino Ratio Rank: 88
SPDW Omega Ratio Rank: 87
SPDW Calmar Ratio Rank: 86
SPDW Martin Ratio Rank: 87

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.

GQGIX vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) and SPDR Portfolio World ex-US ETF (SPDW). 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.

	GQGIX	SPDW	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.71	-0.85
Sortino ratio Return per unit of downside risk	1.23	2.34	-1.11
Omega ratio Gain probability vs. loss probability	1.16	1.34	-0.18
Calmar ratio Return relative to maximum drawdown	1.03	2.49	-1.46
Martin ratio Return relative to average drawdown	3.60	9.76	-6.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GQGIX vs. SPDW - Sharpe Ratio Comparison

The current GQGIX Sharpe Ratio is 0.85, which is lower than the SPDW Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of GQGIX and SPDW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GQGIX	SPDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.71	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.51	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.21	+0.31

Correlation

The correlation between GQGIX and SPDW is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GQGIX vs. SPDW - Dividend Comparison

GQGIX's dividend yield for the trailing twelve months is around 2.12%, less than SPDW's 3.21% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	2.12%	2.13%	1.70%	2.71%	5.67%	3.91%	0.24%	1.16%	0.81%	0.25%	0.00%	0.00%
SPDW SPDR Portfolio World ex-US ETF	3.21%	3.30%	3.19%	2.75%	3.12%	3.04%	1.87%	3.13%	3.08%	1.86%	3.11%	2.78%

Drawdowns

GQGIX vs. SPDW - Drawdown Comparison

The maximum GQGIX drawdown since its inception was -33.50%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for GQGIX and SPDW.

Drawdown Indicators

	GQGIX	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-33.50%	-60.02%	+26.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-11.55%	+2.44%
Max Drawdown (5Y) Largest decline over 5 years	-29.89%	-30.21%	+0.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-8.96%	-8.63%	-0.33%
Average Drawdown Average peak-to-trough decline	-11.54%	-13.01%	+1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.94%	-0.34%

Volatility

GQGIX vs. SPDW - Volatility Comparison

The current volatility for GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) is 5.75%, while SPDR Portfolio World ex-US ETF (SPDW) has a volatility of 8.31%. This indicates that GQGIX experiences smaller price fluctuations and is considered to be less risky than SPDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQGIX	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	8.31%	-2.56%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	11.51%	-2.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	17.57%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.72%	16.26%	-1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	17.15%	-1.16%