MIVL vs. SPDW

Last updated Jul 16, 2026

MIVL (MFS Active International Value ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds. MIVL is actively managed, while SPDW is passively managed. A 0.77 correlation means they provide meaningful diversification when combined. MIVL charges 0.57%/yr vs 0.04%/yr for SPDW.

Performance

MIVL vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Active International Value ETF (MIVL) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MIVL

• 1D: 0.98%
• 1M: 1.54%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPDW

• 1D: 0.26%
• 1M: -1.49%
• 6M: 10.25%
• YTD: 14.54%
• 1Y: 29.47%
• 3Y*: 18.19%
• 5Y*: 10.04%
• 10Y*: 10.13%

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

MIVL vs. SPDW - Yearly Performance Comparison

	2026 (YTD)
MIVL MFS Active International Value ETF	2.00%
SPDW SPDR Portfolio World ex-US ETF	-0.39%

Correlation

The correlation between MIVL and SPDW 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 4, 2026	0.77

Return for Risk

MIVL vs. SPDW — Risk / Return Rank

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

MIVL

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

SPDW

SPDW Risk / Return Rank: 66
SPDW Sharpe Ratio Rank: 67
SPDW Sortino Ratio Rank: 65
SPDW Omega Ratio Rank: 67
SPDW Calmar Ratio Rank: 64
SPDW Martin Ratio Rank: 68

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.

MIVL vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Active International Value ETF (MIVL) 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.

	MIVL	SPDW	Difference
Sharpe ratio: Return per unit of total volatility	—	1.75	—
Sortino ratio: Return per unit of downside risk	—	2.41	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.56	—
Martin ratio: Return relative to average drawdown	—	9.76	—

Drawdowns

MIVL vs. SPDW - Drawdown Comparison

The maximum MIVL drawdown since its inception was -2.49%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for MIVL and SPDW.

Drawdown Indicators

	MIVL	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-2.49%	-60.02%	+57.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	0.00%	-1.92%	+1.92%
Average Drawdown Average peak-to-trough decline	-1.09%	-12.84%	+11.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.03%	—

Volatility

Volatility by Period

	MIVL	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	16.91%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	16.73%	-2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.09%	17.09%	-3.00%

MIVL vs. SPDW - Expense Ratio Comparison

MIVL has a 0.57% expense ratio, which is higher than SPDW's 0.04% expense ratio.

Dividends

MIVL vs. SPDW - Dividend Comparison

MIVL has not paid dividends to shareholders, while SPDW's dividend yield for the trailing twelve months is around 3.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIVL MFS Active International Value ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPDW SPDR Portfolio World ex-US ETF	3.02%	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

Can I hold both MIVL and SPDW in my portfolio?

MIVL and SPDW 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, MIVL or SPDW?

On fees, SPDW is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MIVL or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.57% for MIVL.

Which ETF pays a higher dividend yield, MIVL or SPDW?

SPDW has the higher dividend yield at 3.02%, compared with 0.00% for MIVL.

What is the main difference between MIVL and SPDW?

They also come from different issuers: MFS and State Street. Their fees differ too: 0.57% for MIVL and 0.04% for SPDW.