SPDW vs. CIL

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Portfolio World ex-US ETF (SPDW) and VictoryShares International Volatility Wtd ETF (CIL).

SPDW and CIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPDW is a passively managed fund by State Street that tracks the performance of the S&P Developed Ex-U.S. BMI Index. It was launched on Apr 26, 2007. CIL is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory International 500 Volatility Weighted Index. It was launched on Aug 19, 2015. Both SPDW and CIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPDW vs. CIL - Performance Comparison

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

SPDW vs. CIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPDW SPDR Portfolio World ex-US ETF	4.50%	34.75%	3.55%	17.81%	-15.98%	11.45%	9.90%	22.41%	-14.22%	25.81%
CIL VictoryShares International Volatility Wtd ETF	5.44%	32.99%	3.76%	16.29%	-16.00%	11.07%	7.21%	19.13%	-13.34%	27.67%

Returns By Period

In the year-to-date period, SPDW achieves a 4.50% return, which is significantly lower than CIL's 5.44% return. Over the past 10 years, SPDW has outperformed CIL with an annualized return of 9.48%, while CIL has yielded a comparatively lower 8.47% annualized return.

SPDW

• 1D: 1.66%
• 1M: -5.40%
• YTD: 4.50%
• 6M: 9.57%
• 1Y: 31.56%
• 3Y*: 16.67%
• 5Y*: 8.64%
• 10Y*: 9.48%

CIL

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.44%
• 6M: 10.80%
• 1Y: 29.06%
• 3Y*: 16.16%
• 5Y*: 8.79%
• 10Y*: 8.47%

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

SPDW vs. CIL - Expense Ratio Comparison

SPDW has a 0.04% expense ratio, which is lower than CIL's 0.45% expense ratio.

CIL

VictoryShares International Volatility Wtd ETF

SPDW

SPDR Portfolio World ex-US ETF

Return for Risk

SPDW vs. CIL — Risk / Return Rank

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

SPDW

SPDW Risk / Return Rank: 87
SPDW Sharpe Ratio Rank: 86
SPDW Sortino Ratio Rank: 87
SPDW Omega Ratio Rank: 87
SPDW Calmar Ratio Rank: 87
SPDW Martin Ratio Rank: 87

CIL

CIL Risk / Return Rank: 92
CIL Sharpe Ratio Rank: 94
CIL Sortino Ratio Rank: 95
CIL Omega Ratio Rank: 96
CIL Calmar Ratio Rank: 81
CIL Martin Ratio Rank: 95

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.

SPDW vs. CIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio World ex-US ETF (SPDW) and VictoryShares International Volatility Wtd ETF (CIL). 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	CIL	Difference
Sharpe ratio Return per unit of total volatility	1.80	2.29	-0.49
Sortino ratio Return per unit of downside risk	2.46	3.15	-0.69
Omega ratio Gain probability vs. loss probability	1.36	1.54	-0.17
Calmar ratio Return relative to maximum drawdown	2.77	2.32	+0.45
Martin ratio Return relative to average drawdown	10.76	15.10	-4.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPDW vs. CIL - Sharpe Ratio Comparison

The current SPDW Sharpe Ratio is 1.80, which is comparable to the CIL Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of SPDW and CIL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPDW	CIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.29	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.53	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.49	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.44	-0.22

Correlation

The correlation between SPDW and CIL is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPDW vs. CIL - Dividend Comparison

SPDW's dividend yield for the trailing twelve months is around 3.16%, more than CIL's 2.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPDW SPDR Portfolio World ex-US ETF	3.16%	3.30%	3.19%	2.75%	3.12%	3.04%	1.87%	3.13%	3.08%	1.86%	3.11%	2.78%
CIL VictoryShares International Volatility Wtd ETF	2.38%	2.70%	3.46%	2.91%	2.41%	3.04%	1.73%	2.69%	2.85%	2.17%	2.34%	0.43%

Drawdowns

SPDW vs. CIL - Drawdown Comparison

The maximum SPDW drawdown since its inception was -60.02%, which is greater than CIL's maximum drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for SPDW and CIL.

Drawdown Indicators

	SPDW	CIL	Difference
Max Drawdown Largest peak-to-trough decline	-60.02%	-36.27%	-23.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.55%	-9.66%	-1.89%
Max Drawdown (5Y) Largest decline over 5 years	-30.21%	-29.89%	-0.32%
Max Drawdown (10Y) Largest decline over 10 years	-34.98%	-36.27%	+1.29%
Current Drawdown Current decline from peak	-7.11%	-0.58%	-6.53%
Average Drawdown Average peak-to-trough decline	-13.01%	-6.66%	-6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	1.73%	+1.24%

Volatility

SPDW vs. CIL - Volatility Comparison

SPDR Portfolio World ex-US ETF (SPDW) has a higher volatility of 7.85% compared to VictoryShares International Volatility Wtd ETF (CIL) at 0.00%. This indicates that SPDW's price experiences larger fluctuations and is considered to be riskier than CIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDW	CIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.85%	0.00%	+7.85%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	5.76%	+5.86%
Volatility (1Y) Calculated over the trailing 1-year period	17.61%	13.30%	+4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	16.67%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	17.32%	-0.16%