SPDW vs. BUFI
SPDW (SPDR Portfolio World ex-US ETF) and BUFI (AB International Buffer ETF) are both exchange-traded funds - SPDW is a Foreign Large Cap Equities fund tracking the S&P Developed Ex-U.S. BMI Index, while BUFI is a Defined Outcome fund actively managed by AllianceBernstein. SPDW is passively managed, while BUFI is actively managed. Over the past year, SPDW returned 32.15% vs 12.80% for BUFI. Their correlation of 0.95 suggests significant overlap in exposure. SPDW charges 0.04%/yr vs 0.69%/yr for BUFI.
Performance
SPDW vs. BUFI - Performance Comparison
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Returns By Period
In the year-to-date period, SPDW achieves a 15.00% return, which is significantly higher than BUFI's 4.92% return.
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%
BUFI
- 1D
- -0.31%
- 1M
- 1.83%
- YTD
- 4.92%
- 6M
- 6.32%
- 1Y
- 12.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPDW vs. BUFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPDW SPDR Portfolio World ex-US ETF | 15.00% | 34.75% | -3.37% |
BUFI AB International Buffer ETF | 4.92% | 16.50% | -1.31% |
Correlation
The correlation between SPDW and BUFI 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 (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024 | 0.95 |
The correlation between SPDW and BUFI has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
SPDW vs. BUFI — Risk / Return Rank
SPDW
BUFI
SPDW vs. BUFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio World ex-US ETF (SPDW) and AB International Buffer ETF (BUFI). 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.
| SPDW | BUFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.26 | +0.54 |
| Martin ratioReturn relative to average drawdown | 10.93 | 8.98 | +1.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPDW | BUFI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 1.53 | +0.55 |
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 | 0.24 | 1.50 | -1.26 |
Drawdowns
SPDW vs. BUFI - Drawdown Comparison
The maximum SPDW drawdown since its inception was -60.02%, which is greater than BUFI's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for SPDW and BUFI.
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Drawdown Indicators
| SPDW | BUFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.02% | -7.43% | -52.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.55% | -5.69% | -5.86% |
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 DrawdownCurrent decline from peak | -0.87% | -0.32% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -12.91% | -0.86% | -12.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 1.43% | +1.52% |
Volatility
SPDW vs. BUFI - Volatility Comparison
SPDR Portfolio World ex-US ETF (SPDW) has a higher volatility of 5.63% compared to AB International Buffer ETF (BUFI) at 2.20%. This indicates that SPDW's price experiences larger fluctuations and is considered to be riskier than BUFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPDW | BUFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 2.20% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.17% | 7.05% | +6.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.60% | 8.43% | +7.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.49% | 9.15% | +7.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 9.15% | +8.11% |
SPDW vs. BUFI - Expense Ratio Comparison
SPDW has a 0.04% expense ratio, which is lower than BUFI's 0.69% expense ratio.
Dividends
SPDW vs. BUFI - Dividend Comparison
SPDW's dividend yield for the trailing twelve months is around 2.87%, while BUFI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFI AB International Buffer 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
With a correlation of 0.95, SPDW and BUFI 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.
SPDW has higher volatility (5.63%) compared to BUFI (2.20%). In terms of maximum drawdown, SPDW dropped -60.02% vs BUFI's -7.43%.
On 1-year performance, SPDW leads with 32.15% vs 12.80% for BUFI. On fees, SPDW is cheaper at 0.04% per year. On volatility, BUFI has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPDW has performed better with a 32.15% return vs 12.80%. 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 0.69% for BUFI.
SPDW has the higher dividend yield at 2.87%, compared with 0.00% for BUFI.
SPDW is categorized as Foreign Large Cap Equities, while BUFI is Defined Outcome. They also come from different issuers: State Street and AllianceBernstein. Their fees differ too: 0.04% for SPDW and 0.69% for BUFI.
SPDW currently has the higher Sharpe Ratio (2.07 vs 1.53), 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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