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IXUS vs. SPDW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXUS vs. SPDW

Last updated Jun 24, 2026

IXUS (iShares Core MSCI Total International Stock ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds - IXUS tracks the MSCI ACWI ex USA IMI Index (Net) while SPDW tracks the S&P Developed Ex-U.S. BMI Index. Both are passively managed. Over the past 10 years, IXUS returned 10.21%/yr vs 10.63%/yr for SPDW. With a 0.97 correlation, they move nearly in lockstep. IXUS charges 0.07%/yr vs 0.04%/yr for SPDW.

Performance

IXUS vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Total International Stock ETF (IXUS) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with IXUS having a 12.74% return and SPDW slightly higher at 13.29%. Both investments have delivered pretty close results over the past 10 years, with IXUS having a 10.21% annualized return and SPDW not far ahead at 10.63%.

IXUS

1D
-3.08%
1M
0.45%
YTD
12.74%
6M
12.52%
1Y
29.41%
3Y*
19.01%
5Y*
8.29%
10Y*
10.21%

SPDW

1D
-2.99%
1M
0.20%
YTD
13.29%
6M
13.11%
1Y
30.23%
3Y*
19.45%
5Y*
9.30%
10Y*
10.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXUS vs. SPDW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXUS
iShares Core MSCI Total International Stock ETF		12.74%32.40%5.19%15.83%-16.47%8.86%10.80%21.71%-14.41%28.12%
SPDW
SPDR Portfolio World ex-US ETF		13.29%34.75%3.55%17.81%-15.98%11.45%9.90%22.41%-14.22%25.81%

Correlation

The correlation between IXUS and SPDW is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2012

0.97

The correlation between IXUS and SPDW has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

IXUS vs. SPDW - Sectors Allocation Comparison

Sectors
IXUS
SPDW

Technology

30.5%
16.8%

Financial Services

23.8%
22.2%

Industrials

11.3%
18.4%

Healthcare

6.5%
7.9%

Consumer Cyclical

5.6%
7.8%

Basic Materials

5.0%
7.3%

Energy

4.4%
4.9%

Communication Services

4.2%
3.9%

Consumer Defensive

3.9%
5.4%

Utilities

1.9%
3.0%

Real Estate

0.2%
2.3%

Technology

IXUS
30.5%
SPDW
16.8%

Financial Services

IXUS
23.8%
SPDW
22.2%

Industrials

IXUS
11.3%
SPDW
18.4%

Healthcare

IXUS
6.5%
SPDW
7.9%

Consumer Cyclical

IXUS
5.6%
SPDW
7.8%

Basic Materials

IXUS
5.0%
SPDW
7.3%

Energy

IXUS
4.4%
SPDW
4.9%

Communication Services

IXUS
4.2%
SPDW
3.9%

Consumer Defensive

IXUS
3.9%
SPDW
5.4%

Utilities

IXUS
1.9%
SPDW
3.0%

Real Estate

IXUS
0.2%
SPDW
2.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core MSCI Total International Stock ETF

SPDR Portfolio World ex-US ETF

Often compared with IXUS:
IXUS vs. VXUSIXUS vs. ITOTIXUS vs. VEAIXUS vs. SCHFIXUS vs. ACWXIXUS vs. IEFAIXUS vs. IEMG
Often compared with SPDW:
SPDW vs. VEASPDW vs. VXUSSPDW vs. SCHFSPDW vs. VEUSPDW vs. SPYSPDW vs. VOOSPDW vs. FNDF

Return for Risk

IXUS vs. SPDW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXUS
IXUS Risk / Return Rank: 5555
Overall Rank
IXUS Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
IXUS Sortino Ratio Rank: 5252
Sortino Ratio Rank
IXUS Omega Ratio Rank: 5656
Omega Ratio Rank
IXUS Calmar Ratio Rank: 5454
Calmar Ratio Rank
IXUS Martin Ratio Rank: 5858
Martin Ratio Rank
SPDW
SPDW Risk / Return Rank: 5656
Overall Rank
SPDW Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
SPDW Sortino Ratio Rank: 5454
Sortino Ratio Rank
SPDW Omega Ratio Rank: 5656
Omega Ratio Rank
SPDW Calmar Ratio Rank: 5555
Calmar Ratio Rank
SPDW Martin Ratio Rank: 5959
Martin Ratio Rank
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.

IXUS vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Total International Stock ETF (IXUS) 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.

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.

IXUSSPDWDifference
Sharpe ratioReturn per unit of total volatility
1.79
1.82

-0.03

Sortino ratioReturn per unit of downside risk
2.44
2.50

-0.06

Omega ratioGain probability vs. loss probability

1.33

1.33

0.00

Calmar ratioReturn relative to maximum drawdown

2.60

2.63

-0.03

Martin ratioReturn relative to average drawdown

10.00

10.15

-0.15

IXUS vs. SPDW - Sharpe Ratio Comparison

The current IXUS Sharpe Ratio is 1.79, which is comparable to the SPDW Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of IXUS and SPDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IXUS vs. SPDW - Drawdown Comparison

The maximum IXUS drawdown since its inception was -36.22%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for IXUS and SPDW.

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Drawdown Indicators

IXUSSPDWDifference

Max Drawdown

Largest peak-to-trough decline

-36.22%

-60.02%

+23.80%

Max Drawdown (1Y)

Largest decline over 1 year

-11.36%

-11.55%

+0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-13.75%

-13.53%

-0.22%

Max Drawdown (5Y)

Largest decline over 5 years

-30.03%

-30.21%

+0.18%

Max Drawdown (10Y)

Largest decline over 10 years

-36.22%

-34.98%

-1.24%

Current Drawdown

Current decline from peak

-3.08%

-2.99%

-0.09%

Average Drawdown

Average peak-to-trough decline

-7.48%

-12.88%

+5.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.95%

2.99%

-0.04%

Volatility

IXUS vs. SPDW - Volatility Comparison

iShares Core MSCI Total International Stock ETF (IXUS) and SPDR Portfolio World ex-US ETF (SPDW) have volatilities of 7.22% and 7.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IXUSSPDWDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.22%

7.05%

+0.17%

Volatility (6M)

Calculated over the trailing 6-month period

14.64%

14.59%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

16.56%

16.72%

-0.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.45%

16.70%

-0.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

17.13%

-0.16%

IXUS vs. SPDW - Expense Ratio Comparison

IXUS has a 0.07% expense ratio, which is higher than SPDW's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IXUS vs. SPDW - Dividend Comparison

IXUS's dividend yield for the trailing twelve months is around 2.98%, less than SPDW's 3.06% yield.

PositionTTM20252024202320222021202020192018201720162015
IXUS
iShares Core MSCI Total International Stock ETF		2.98%3.24%3.33%3.13%2.48%3.12%1.85%3.09%3.00%2.41%2.58%2.81%
SPDW
SPDR Portfolio World ex-US ETF		3.06%3.30%3.19%2.75%3.12%3.04%1.87%3.13%3.08%1.86%3.11%2.78%

Frequently Asked Questions

With a correlation of 0.98, IXUS and SPDW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IXUS has higher volatility (7.22%) compared to SPDW (7.05%). In terms of maximum drawdown, IXUS dropped -36.22% vs SPDW's -60.02%.

On 10-year performance, SPDW leads with 10.63% vs 10.21% for IXUS. On fees, SPDW is cheaper at 0.04% per year. On volatility, SPDW has been the lower-risk option at 7.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPDW has performed better with a 10.63% return vs 10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPDW is cheaper with a 0.04% expense ratio, compared with 0.07% for IXUS.

SPDW has the higher dividend yield at 3.06%, compared with 2.98% for IXUS.

IXUS tracks MSCI ACWI ex USA IMI Index (Net), while SPDW tracks S&P Developed Ex-U.S. BMI Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IXUS and 0.04% for SPDW.

SPDW currently has the higher Sharpe Ratio (1.82 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.

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