SPGM vs. PID

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Invesco International Dividend Achievers™ ETF (PID).

SPGM and PID 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. PID is a passively managed fund by Invesco that tracks the performance of the Nasdaq International Dividend Achievers (NR). It was launched on Sep 15, 2005. Both SPGM and PID 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

SPGM vs. PID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Invesco International Dividend Achievers™ ETF (PID). The values are adjusted to include any dividend payments, if applicable.

SPGM vs. PID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPGM SPDR Portfolio MSCI Global Stock Market ETF	-1.30%	23.62%	16.75%	21.34%	-17.53%	21.13%	15.28%	26.58%	-10.12%	23.26%
PID Invesco International Dividend Achievers™ ETF	2.04%	24.45%	3.08%	14.28%	-6.48%	24.49%	-6.56%	25.87%	-11.46%	19.05%

Returns By Period

In the year-to-date period, SPGM achieves a -1.30% return, which is significantly lower than PID's 2.04% return. Over the past 10 years, SPGM has outperformed PID with an annualized return of 11.73%, while PID has yielded a comparatively lower 8.98% annualized return.

SPGM

• 1D: 3.20%
• 1M: -6.16%
• YTD: -1.30%
• 6M: 2.27%
• 1Y: 23.79%
• 3Y*: 17.35%
• 5Y*: 9.70%
• 10Y*: 11.73%

PID

• 1D: 2.07%
• 1M: -5.36%
• YTD: 2.04%
• 6M: 6.12%
• 1Y: 20.87%
• 3Y*: 11.55%
• 5Y*: 9.53%
• 10Y*: 8.98%

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

SPGM vs. PID - Expense Ratio Comparison

SPGM has a 0.09% expense ratio, which is lower than PID's 0.56% expense ratio.

PID

Invesco International Dividend Achievers™ ETF

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

Return for Risk

SPGM vs. PID — Risk / Return Rank

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

SPGM

SPGM Risk / Return Rank: 80
SPGM Sharpe Ratio Rank: 77
SPGM Sortino Ratio Rank: 80
SPGM Omega Ratio Rank: 80
SPGM Calmar Ratio Rank: 78
SPGM Martin Ratio Rank: 85

PID

PID Risk / Return Rank: 86
PID Sharpe Ratio Rank: 84
PID Sortino Ratio Rank: 88
PID Omega Ratio Rank: 86
PID Calmar Ratio Rank: 83
PID Martin Ratio Rank: 87

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.

SPGM vs. PID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Invesco International Dividend Achievers™ ETF (PID). 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.

	SPGM	PID	Difference
Sharpe ratio Return per unit of total volatility	1.37	1.64	-0.27
Sortino ratio Return per unit of downside risk	1.98	2.39	-0.41
Omega ratio Gain probability vs. loss probability	1.30	1.34	-0.04
Calmar ratio Return relative to maximum drawdown	1.99	2.36	-0.37
Martin ratio Return relative to average drawdown	9.40	10.33	-0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPGM vs. PID - Sharpe Ratio Comparison

The current SPGM Sharpe Ratio is 1.37, which is comparable to the PID Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of SPGM and PID, 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

	SPGM	PID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.64	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.69	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.50	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.26	+0.34

Correlation

The correlation between SPGM and PID is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPGM vs. PID - Dividend Comparison

SPGM's dividend yield for the trailing twelve months is around 1.91%, less than PID's 3.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPGM SPDR Portfolio MSCI Global Stock Market ETF	1.91%	1.89%	1.98%	2.09%	2.37%	1.94%	1.45%	2.46%	1.89%	2.29%	1.87%	3.70%
PID Invesco International Dividend Achievers™ ETF	3.38%	3.28%	3.88%	3.31%	3.30%	3.30%	3.16%	3.99%	3.87%	3.46%	3.90%	4.48%

Drawdowns

SPGM vs. PID - Drawdown Comparison

The maximum SPGM drawdown since its inception was -33.97%, smaller than the maximum PID drawdown of -66.34%. Use the drawdown chart below to compare losses from any high point for SPGM and PID.

Drawdown Indicators

	SPGM	PID	Difference
Max Drawdown Largest peak-to-trough decline	-33.97%	-66.34%	+32.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-8.83%	-3.13%
Max Drawdown (5Y) Largest decline over 5 years	-25.93%	-22.97%	-2.96%
Max Drawdown (10Y) Largest decline over 10 years	-33.97%	-46.07%	+12.10%
Current Drawdown Current decline from peak	-6.60%	-5.36%	-1.24%
Average Drawdown Average peak-to-trough decline	-4.85%	-13.12%	+8.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.02%	+0.51%

Volatility

SPGM vs. PID - Volatility Comparison

SPDR Portfolio MSCI Global Stock Market ETF (SPGM) has a higher volatility of 6.58% compared to Invesco International Dividend Achievers™ ETF (PID) at 3.80%. This indicates that SPGM's price experiences larger fluctuations and is considered to be riskier than PID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPGM	PID	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.58%	3.80%	+2.78%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	7.11%	+3.07%
Volatility (1Y) Calculated over the trailing 1-year period	17.47%	12.81%	+4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	13.96%	+1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.56%	17.99%	-0.43%