GWX vs. ASCI

Last updated Jun 4, 2026

GWX (SPDR S&P International Small Cap ETF) and ASCI (abrdn International Small Cap Active ETF) are both Foreign Small & Mid Cap Equities funds. GWX is passively managed, while ASCI is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. GWX charges 0.40%/yr vs 0.70%/yr for ASCI.

Performance

GWX vs. ASCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P International Small Cap ETF (GWX) and abrdn International Small Cap Active ETF (ASCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GWX achieves a 11.79% return, which is significantly higher than ASCI's 7.39% return.

GWX

• 1D: -1.21%
• 1M: 0.57%
• YTD: 11.79%
• 6M: 14.68%
• 1Y: 30.65%
• 3Y*: 17.00%
• 5Y*: 5.61%
• 10Y*: 7.57%

ASCI

• 1D: -0.54%
• 1M: 1.38%
• YTD: 7.39%
• 6M: 8.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GWX vs. ASCI - Yearly Performance Comparison

	2026 (YTD)	2025
GWX SPDR S&P International Small Cap ETF	11.79%	2.25%
ASCI abrdn International Small Cap Active ETF	7.39%	1.11%

Correlation

The correlation between GWX and ASCI is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025	0.81

Return for Risk

GWX vs. ASCI — Risk / Return Rank

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

GWX

GWX Risk / Return Rank: 56
GWX Sharpe Ratio Rank: 58
GWX Sortino Ratio Rank: 58
GWX Omega Ratio Rank: 57
GWX Calmar Ratio Rank: 52
GWX Martin Ratio Rank: 57

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.

GWX vs. ASCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P International Small Cap ETF (GWX) and abrdn International Small Cap Active ETF (ASCI). 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.

	GWX	ASCI	Difference
Sharpe ratio: Return per unit of total volatility	1.98	—	—
Sortino ratio: Return per unit of downside risk	2.75	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.58	—	—
Martin ratio: Return relative to average drawdown	10.03	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GWX	ASCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.77	-0.54

Drawdowns

GWX vs. ASCI - Drawdown Comparison

The maximum GWX drawdown since its inception was -63.25%, which is greater than ASCI's maximum drawdown of -11.22%. Use the drawdown chart below to compare losses from any high point for GWX and ASCI.

Drawdown Indicators

	GWX	ASCI	Difference
Max Drawdown Largest peak-to-trough decline	-63.25%	-11.22%	-52.03%
Max Drawdown (1Y) Largest decline over 1 year	-11.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.27%	—	—
Current Drawdown Current decline from peak	-2.86%	-2.85%	-0.01%
Average Drawdown Average peak-to-trough decline	-14.74%	-2.39%	-12.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	—	—

Volatility

Volatility by Period

	GWX	ASCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	18.68%	-3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	18.68%	-1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	18.68%	-1.32%

GWX vs. ASCI - Expense Ratio Comparison

GWX has a 0.40% expense ratio, which is lower than ASCI's 0.70% expense ratio.

Dividends

GWX vs. ASCI - Dividend Comparison

GWX's dividend yield for the trailing twelve months is around 2.54%, more than ASCI's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASCI abrdn International Small Cap Active ETF	0.75%	0.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GWX SPDR S&P International Small Cap ETF	2.54%	2.83%	2.71%	2.64%	2.71%	2.75%	1.74%	3.41%	2.94%	5.18%	4.21%	2.67%

Frequently Asked Questions

Can I hold both GWX and ASCI in my portfolio?

GWX and ASCI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GWX or ASCI?

On fees, GWX is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GWX or ASCI?

GWX is cheaper with a 0.40% expense ratio, compared with 0.70% for ASCI.

Which ETF pays a higher dividend yield, GWX or ASCI?

GWX has the higher dividend yield at 2.54%, compared with 0.75% for ASCI.

What is the main difference between GWX and ASCI?

They also come from different issuers: State Street and abrdn. Their fees differ too: 0.40% for GWX and 0.70% for ASCI.