NBIE vs. SPDW

Last updated Jun 4, 2026

NBIE (Neuberger International Core Equity ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds. NBIE is actively managed, while SPDW is passively managed. With a 0.95 correlation, they move nearly in lockstep. NBIE charges 0.29%/yr vs 0.04%/yr for SPDW.

Performance

NBIE vs. SPDW - Performance Comparison

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

Returns By Period

NBIE

• 1D: -0.68%
• 1M: 4.02%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPDW

• 1D: -0.87%
• 1M: 5.56%
• YTD: 15.00%
• 6M: 18.06%
• 1Y: 32.15%
• 3Y*: 19.77%
• 5Y*: 9.38%
• 10Y*: 10.09%

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

NBIE vs. SPDW - Yearly Performance Comparison

	2026 (YTD)
NBIE Neuberger International Core Equity ETF	4.75%
SPDW SPDR Portfolio World ex-US ETF	9.03%

Correlation

The correlation between NBIE and SPDW is 0.95 - 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 (All Time) Calculated using the full available price history since Mar 10, 2026	0.95

Return for Risk

NBIE vs. SPDW — Risk / Return Rank

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

SPDW

SPDW Risk / Return Rank: 59
SPDW Sharpe Ratio Rank: 60
SPDW Sortino Ratio Rank: 59
SPDW Omega Ratio Rank: 59
SPDW Calmar Ratio Rank: 55
SPDW Martin Ratio Rank: 60

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.

NBIE vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger International Core Equity ETF (NBIE) 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.

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

Sharpe Ratios by Period

	NBIE	SPDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.07	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.24	+0.86

Drawdowns

NBIE vs. SPDW - Drawdown Comparison

The maximum NBIE drawdown since its inception was -5.76%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for NBIE and SPDW.

Drawdown Indicators

	NBIE	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-5.76%	-60.02%	+54.26%
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	-0.68%	-0.87%	+0.19%
Average Drawdown Average peak-to-trough decline	-1.62%	-12.91%	+11.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.95%	—

Volatility

Volatility by Period

	NBIE	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	15.60%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	16.49%	+3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.83%	17.26%	+2.57%

NBIE vs. SPDW - Expense Ratio Comparison

NBIE has a 0.29% expense ratio, which is higher than SPDW's 0.04% expense ratio.

Dividends

NBIE vs. SPDW - Dividend Comparison

NBIE has not paid dividends to shareholders, while SPDW's dividend yield for the trailing twelve months is around 2.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBIE Neuberger International Core Equity 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	2.87%	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 NBIE and SPDW in my portfolio?

With a correlation of 0.95, NBIE 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.

Which ETF is better, NBIE 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, NBIE or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.29% for NBIE.

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

SPDW has the higher dividend yield at 2.87%, compared with 0.00% for NBIE.

What is the main difference between NBIE and SPDW?

They also come from different issuers: Neuberger and State Street. Their fees differ too: 0.29% for NBIE and 0.04% for SPDW.