SPDW vs. EPIN

Last updated Jul 17, 2026

SPDW (SPDR Portfolio World ex-US ETF) and EPIN (Harbor International Equity ETF) are both Foreign Large Cap Equities funds. SPDW is passively managed, while EPIN is actively managed. Over the past year, SPDW returned 27.43% vs 34.90% for EPIN. Their correlation of 0.92 suggests significant overlap in exposure. SPDW charges 0.04%/yr vs 0.80%/yr for EPIN.

Performance

SPDW vs. EPIN - Performance Comparison

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

Returns By Period

In the year-to-date period, SPDW achieves a 13.33% return, which is significantly lower than EPIN's 21.71% return.

SPDW

• 1D: -1.06%
• 1M: -2.36%
• 6M: 9.01%
• YTD: 13.33%
• 1Y: 27.43%
• 3Y*: 17.79%
• 5Y*: 9.81%
• 10Y*: 9.98%

EPIN

• 1D: -1.31%
• 1M: -1.48%
• 6M: 14.51%
• YTD: 21.71%
• 1Y: 34.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPDW vs. EPIN - Yearly Performance Comparison

	2026 (YTD)	2025
SPDW SPDR Portfolio World ex-US ETF	13.33%	14.32%
EPIN Harbor International Equity ETF	21.71%	14.36%

Correlation

The correlation between SPDW and EPIN is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.92

The correlation between SPDW and EPIN has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

SPDW vs. EPIN - Sectors Allocation Comparison

Sectors	SPDW	EPIN
Financial Services	22.2%	17.7%
Industrials	18.4%	20.4%
Technology	16.8%	34.1%
Healthcare	7.9%	6.6%
Consumer Cyclical	7.8%	6.1%
Basic Materials	7.3%	7.3%
Consumer Defensive	5.4%	2.5%
Energy	4.9%	4.2%
Communication Services	3.9%	1.2%
Utilities	3.0%	-
Real Estate	2.3%	-

Return for Risk

SPDW vs. EPIN — Risk / Return Rank

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

SPDW

SPDW Risk / Return Rank: 61
SPDW Sharpe Ratio Rank: 61
SPDW Sortino Ratio Rank: 59
SPDW Omega Ratio Rank: 60
SPDW Calmar Ratio Rank: 59
SPDW Martin Ratio Rank: 64

EPIN

EPIN Risk / Return Rank: 72
EPIN Sharpe Ratio Rank: 72
EPIN Sortino Ratio Rank: 69
EPIN Omega Ratio Rank: 71
EPIN Calmar Ratio Rank: 74
EPIN Martin Ratio Rank: 75

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. EPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio World ex-US ETF (SPDW) and Harbor International Equity ETF (EPIN). 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.

	SPDW	EPIN	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.84	-0.21
Sortino ratio: Return per unit of downside risk	2.26	2.53	-0.26
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.39	3.01	-0.63
Martin ratio: Return relative to average drawdown	9.07	11.10	-2.04

SPDW vs. EPIN - Sharpe Ratio Comparison

The current SPDW Sharpe Ratio is 1.63, which is comparable to the EPIN Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of SPDW and EPIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPDW vs. EPIN - Drawdown Comparison

The maximum SPDW drawdown since its inception was -60.02%, which is greater than EPIN's maximum drawdown of -11.64%. Use the drawdown chart below to compare losses from any high point for SPDW and EPIN.

Drawdown Indicators

	SPDW	EPIN	Difference
Max Drawdown Largest peak-to-trough decline	-60.02%	-11.64%	-48.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.55%	-11.64%	+0.09%
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	-2.95%	-3.78%	+0.83%
Average Drawdown Average peak-to-trough decline	-12.84%	-1.84%	-11.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	3.15%	-0.12%

Volatility

SPDW vs. EPIN - Volatility Comparison

The current volatility for SPDR Portfolio World ex-US ETF (SPDW) is 5.20%, while Harbor International Equity ETF (EPIN) has a volatility of 5.63%. This indicates that SPDW experiences smaller price fluctuations and is considered to be less risky than EPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDW	EPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	5.63%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	14.95%	16.97%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	19.04%	-2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	18.47%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	18.47%	-1.38%

SPDW vs. EPIN - Expense Ratio Comparison

SPDW has a 0.04% expense ratio, which is lower than EPIN's 0.80% expense ratio.

Dividends

SPDW vs. EPIN - Dividend Comparison

SPDW's dividend yield for the trailing twelve months is around 3.05%, more than EPIN's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPIN Harbor International Equity ETF	0.65%	0.79%	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	3.05%	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 SPDW and EPIN in my portfolio?

With a correlation of 0.92, SPDW and EPIN 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 is riskier, SPDW or EPIN?

EPIN has higher volatility (5.63%) compared to SPDW (5.20%). In terms of maximum drawdown, SPDW dropped -60.02% vs EPIN's -11.64%.

Which ETF is better, SPDW or EPIN?

On 1-year performance, EPIN leads with 34.90% vs 27.43% for SPDW. On fees, SPDW is cheaper at 0.04% per year. On volatility, SPDW has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDW or EPIN?

Over the 1-year period, EPIN has performed better with a 34.90% return vs 27.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDW or EPIN?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.80% for EPIN.

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

SPDW has the higher dividend yield at 3.05%, compared with 0.65% for EPIN.

What is the main difference between SPDW and EPIN?

They also come from different issuers: State Street and Harbor. Their fees differ too: 0.04% for SPDW and 0.80% for EPIN.

Which has better risk-adjusted returns?

EPIN currently has the higher Sharpe Ratio (1.84 vs 1.63), 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.