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SPDW vs. VCIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPDW vs. VCIT

Last updated Jun 9, 2026

SPDW (SPDR Portfolio World ex-US ETF) and VCIT (Vanguard Intermediate-Term Corporate Bond 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 VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index. Both are passively managed. Over the past 10 years, SPDW returned 10.06%/yr vs 2.85%/yr for VCIT. At a 0.09 correlation, their price movements are largely independent. SPDW charges 0.04%/yr vs 0.03%/yr for VCIT.

Performance

SPDW vs. VCIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio World ex-US ETF (SPDW) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPDW achieves a 12.18% return, which is significantly higher than VCIT's -0.26% return. Over the past 10 years, SPDW has outperformed VCIT with an annualized return of 10.06%, while VCIT has yielded a comparatively lower 2.85% annualized return.

SPDW

1D
0.99%
1M
-1.17%
YTD
12.18%
6M
14.96%
1Y
27.89%
3Y*
18.62%
5Y*
8.90%
10Y*
10.06%

VCIT

1D
-0.01%
1M
-0.79%
YTD
-0.26%
6M
0.06%
1Y
5.98%
3Y*
6.04%
5Y*
1.04%
10Y*
2.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPDW vs. VCIT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPDW
SPDR Portfolio World ex-US ETF		12.18%34.75%3.55%17.81%-15.98%11.45%9.90%22.41%-14.22%25.81%
VCIT
Vanguard Intermediate-Term Corporate Bond ETF		-0.26%9.34%3.20%8.98%-13.98%-1.77%9.46%14.10%-1.74%5.31%

Correlation

The correlation between SPDW and VCIT is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.36

Correlation (10Y)
Calculated over the trailing 10-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2009

0.09

Over the past year, SPDW and VCIT have become more correlated (0.50) than their long-term average of 0.09, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio World ex-US ETF

Vanguard Intermediate-Term Corporate Bond ETF

Often compared with SPDW:
SPDW vs. VEASPDW vs. VXUSSPDW vs. SCHFSPDW vs. VEUSPDW vs. SPYSPDW vs. VOOSPDW vs. IXUS
Often compared with VCIT:
VCIT vs. BNDVCIT vs. LQDVCIT vs. IGIBVCIT vs. VTCVCIT vs. VCLTVCIT vs. SPIBVCIT vs. VTEB

Return for Risk

SPDW vs. VCIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPDW
SPDW Risk / Return Rank: 5656
Overall Rank
SPDW Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
SPDW Sortino Ratio Rank: 5555
Sortino Ratio Rank
SPDW Omega Ratio Rank: 5656
Omega Ratio Rank
SPDW Calmar Ratio Rank: 5454
Calmar Ratio Rank
SPDW Martin Ratio Rank: 5959
Martin Ratio Rank
VCIT
VCIT Risk / Return Rank: 4646
Overall Rank
VCIT Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
VCIT Sortino Ratio Rank: 4949
Sortino Ratio Rank
VCIT Omega Ratio Rank: 4646
Omega Ratio Rank
VCIT Calmar Ratio Rank: 4545
Calmar Ratio Rank
VCIT Martin Ratio Rank: 4444
Martin Ratio Rank
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. VCIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio World ex-US ETF (SPDW) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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.

SPDWVCITDifference
Sharpe ratioReturn per unit of total volatility
1.74
1.48

+0.27

Sortino ratioReturn per unit of downside risk
2.40
2.17

+0.22

Omega ratioGain probability vs. loss probability

1.32

1.26

+0.05

Calmar ratioReturn relative to maximum drawdown

2.43

2.03

+0.40

Martin ratioReturn relative to average drawdown

9.42

6.67

+2.75

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. VCIT - Sharpe Ratio Comparison

The current SPDW Sharpe Ratio is 1.74, which is comparable to the VCIT Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of SPDW and VCIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPDWVCITDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.74

1.48

+0.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.16

+0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.46

+0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.23

0.75

-0.52

Drawdowns

SPDW vs. VCIT - Drawdown Comparison

The maximum SPDW drawdown since its inception was -60.02%, which is greater than VCIT's maximum drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for SPDW and VCIT.

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Drawdown Indicators

SPDWVCITDifference

Max Drawdown

Largest peak-to-trough decline

-60.02%

-20.56%

-39.46%

Max Drawdown (1Y)

Largest decline over 1 year

-11.55%

-2.96%

-8.59%

Max Drawdown (3Y)

Largest decline over 3 years

-13.53%

-6.11%

-7.42%

Max Drawdown (5Y)

Largest decline over 5 years

-30.21%

-20.56%

-9.65%

Max Drawdown (10Y)

Largest decline over 10 years

-34.98%

-20.56%

-14.42%

Current Drawdown

Current decline from peak

-3.30%

-1.79%

-1.51%

Average Drawdown

Average peak-to-trough decline

-12.90%

-3.16%

-9.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.97%

0.90%

+2.07%

Volatility

SPDW vs. VCIT - Volatility Comparison

SPDR Portfolio World ex-US ETF (SPDW) has a higher volatility of 6.07% compared to Vanguard Intermediate-Term Corporate Bond ETF (VCIT) at 1.39%. This indicates that SPDW's price experiences larger fluctuations and is considered to be riskier than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPDWVCITDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.07%

1.39%

+4.68%

Volatility (6M)

Calculated over the trailing 6-month period

13.76%

3.10%

+10.66%

Volatility (1Y)

Calculated over the trailing 1-year period

16.09%

4.07%

+12.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.58%

6.61%

+9.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.30%

6.28%

+11.02%

SPDW vs. VCIT - Expense Ratio Comparison

SPDW has a 0.04% expense ratio, which is higher than VCIT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPDW vs. VCIT - Dividend Comparison

SPDW's dividend yield for the trailing twelve months is around 2.94%, less than VCIT's 4.82% yield.

PositionTTM20252024202320222021202020192018201720162015
SPDW
SPDR Portfolio World ex-US ETF		2.94%3.30%3.19%2.75%3.12%3.04%1.87%3.13%3.08%1.86%3.11%2.78%
VCIT
Vanguard Intermediate-Term Corporate Bond ETF		4.82%4.62%4.43%3.72%3.03%2.87%2.78%3.37%3.61%3.21%3.29%3.34%

Frequently Asked Questions

SPDW and VCIT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPDW has higher volatility (6.07%) compared to VCIT (1.39%). In terms of maximum drawdown, SPDW dropped -60.02% vs VCIT's -20.56%.

On 10-year performance, SPDW leads with 10.06% vs 2.85% for VCIT. On fees, VCIT is cheaper at 0.03% per year. On volatility, VCIT has been the lower-risk option at 1.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPDW has performed better with a 10.06% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VCIT is cheaper with a 0.03% expense ratio, compared with 0.04% for SPDW.

VCIT has the higher dividend yield at 4.82%, compared with 2.94% for SPDW.

SPDW is categorized as Foreign Large Cap Equities, while VCIT is Corporate Bonds. SPDW tracks S&P Developed Ex-U.S. BMI Index, while VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.04% for SPDW and 0.03% for VCIT.

SPDW currently has the higher Sharpe Ratio (1.74 vs 1.48), 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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