SPGM vs. CWI
Compare and contrast key facts about SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and SPDR MSCI ACWI ex-US ETF (CWI).
SPGM and CWI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPGM is a passively managed fund by State Street that tracks the performance of the MSCI AC World IMI. It was launched on Feb 27, 2012. CWI is a passively managed fund by State Street that tracks the performance of the MSCI All Country World ex-U.S. Index. It was launched on Jan 10, 2007. Both SPGM and CWI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPGM or CWI.
Performance
SPGM vs. CWI - Performance Comparison
Returns By Period
In the year-to-date period, SPGM achieves a 16.49% return, which is significantly higher than CWI's 6.98% return. Over the past 10 years, SPGM has outperformed CWI with an annualized return of 9.41%, while CWI has yielded a comparatively lower 4.88% annualized return.
SPGM
16.49%
-1.62%
6.03%
24.62%
11.02%
9.41%
CWI
6.98%
-5.47%
-1.31%
13.14%
5.31%
4.88%
Key characteristics
| SPGM | CWI | |
|---|---|---|
| Sharpe Ratio | 2.07 | 1.07 |
| Sortino Ratio | 2.84 | 1.54 |
| Omega Ratio | 1.37 | 1.19 |
| Calmar Ratio | 2.85 | 1.20 |
| Martin Ratio | 13.12 | 5.84 |
| Ulcer Index | 1.86% | 2.38% |
| Daily Std Dev | 11.77% | 12.96% |
| Max Drawdown | -33.96% | -60.76% |
| Current Drawdown | -2.78% | -7.37% |
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SPGM vs. CWI - Expense Ratio Comparison
SPGM has a 0.09% expense ratio, which is lower than CWI's 0.30% expense ratio.
Correlation
The correlation between SPGM and CWI is 0.77, 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.
Risk-Adjusted Performance
SPGM vs. CWI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and SPDR MSCI ACWI ex-US ETF (CWI). 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.
Dividends
SPGM vs. CWI - Dividend Comparison
SPGM's dividend yield for the trailing twelve months is around 1.75%, less than CWI's 2.67% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 1.75% | 2.09% | 2.37% | 1.94% | 1.45% | 2.46% | 1.89% | 2.29% | 1.87% | 3.70% | 2.18% | 1.74% |
CWI SPDR MSCI ACWI ex-US ETF | 2.67% | 2.80% | 3.18% | 2.65% | 2.07% | 3.05% | 2.81% | 2.29% | 2.45% | 2.62% | 3.21% | 2.69% |
Drawdowns
SPGM vs. CWI - Drawdown Comparison
The maximum SPGM drawdown since its inception was -33.96%, smaller than the maximum CWI drawdown of -60.76%. Use the drawdown chart below to compare losses from any high point for SPGM and CWI. For additional features, visit the drawdowns tool.
Volatility
SPGM vs. CWI - Volatility Comparison
The current volatility for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) is 3.31%, while SPDR MSCI ACWI ex-US ETF (CWI) has a volatility of 4.25%. This indicates that SPGM experiences smaller price fluctuations and is considered to be less risky than CWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.