SPYV vs. SPDW

Last updated Jun 13, 2026

SPYV (SPDR Portfolio S&P 500 Value ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both exchange-traded funds - SPYV is a S&P 500 fund tracking the S&P 500 Value Index, while SPDW is a Foreign Large Cap Equities fund tracking the S&P Developed Ex-U.S. BMI Index. Both are passively managed. Over the past 10 years, SPYV returned 12.08%/yr vs 10.64%/yr for SPDW. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.04% expense ratio.

Performance

SPYV vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 500 Value ETF (SPYV) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYV achieves a 8.25% return, which is significantly lower than SPDW's 14.86% return. Over the past 10 years, SPYV has outperformed SPDW with an annualized return of 12.08%, while SPDW has yielded a comparatively lower 10.64% annualized return.

SPYV

• 1D: 0.69%
• 1M: 1.59%
• YTD: 8.25%
• 6M: 8.02%
• 1Y: 21.87%
• 3Y*: 15.13%
• 5Y*: 10.98%
• 10Y*: 12.08%

SPDW

• 1D: 0.29%
• 1M: 1.53%
• YTD: 14.86%
• 6M: 16.65%
• 1Y: 31.27%
• 3Y*: 19.01%
• 5Y*: 9.30%
• 10Y*: 10.64%

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

SPYV vs. SPDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYV SPDR Portfolio S&P 500 Value ETF	8.25%	13.18%	12.24%	22.20%	-5.28%	24.91%	1.38%	31.70%	-9.01%	15.40%
SPDW SPDR Portfolio World ex-US ETF	14.86%	34.75%	3.55%	17.81%	-15.98%	11.45%	9.90%	22.41%	-14.22%	25.81%

Correlation

The correlation between SPYV and SPDW is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Apr 26, 2007	0.76

The correlation between SPYV and SPDW has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

SPYV vs. SPDW - Sectors Allocation Comparison

Sectors	SPYV	SPDW
Technology	21.5%	13.7%
Financial Services	14.5%	22.9%
Healthcare	11.6%	8.3%
Consumer Cyclical	11.2%	7.8%
Industrials	10.8%	19.2%
Consumer Defensive	9.1%	5.7%
Energy	7.1%	5.5%
Utilities	4.3%	3.3%
Basic Materials	3.4%	7.3%
Real Estate	3.3%	2.5%
Communication Services	3.2%	3.8%

Return for Risk

SPYV vs. SPDW — Risk / Return Rank

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

SPYV

SPYV Risk / Return Rank: 75
SPYV Sharpe Ratio Rank: 75
SPYV Sortino Ratio Rank: 76
SPYV Omega Ratio Rank: 73
SPYV Calmar Ratio Rank: 75
SPYV Martin Ratio Rank: 77

SPDW

SPDW Risk / Return Rank: 62
SPDW Sharpe Ratio Rank: 63
SPDW Sortino Ratio Rank: 62
SPDW Omega Ratio Rank: 63
SPDW Calmar Ratio Rank: 59
SPDW Martin Ratio Rank: 63

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.

SPYV vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 500 Value ETF (SPYV) and SPDR Portfolio World ex-US ETF (SPDW). 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.

	SPYV	SPDW	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.80	+0.28
Sortino ratio: Return per unit of downside risk	2.92	2.51	+0.41
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.04
Calmar ratio: Return relative to maximum drawdown	3.33	2.58	+0.76
Martin ratio: Return relative to average drawdown	12.73	9.95	+2.77

SPYV vs. SPDW - Sharpe Ratio Comparison

The current SPYV Sharpe Ratio is 2.08, which is comparable to the SPDW Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of SPYV and SPDW, 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

SPYV vs. SPDW - Drawdown Comparison

The maximum SPYV drawdown since its inception was -58.45%, roughly equal to the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for SPYV and SPDW.

Drawdown Indicators

	SPYV	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-58.45%	-60.02%	+1.57%
Max Drawdown (1Y) Largest decline over 1 year	-6.22%	-11.55%	+5.33%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-13.53%	-4.01%
Max Drawdown (5Y) Largest decline over 5 years	-17.89%	-30.21%	+12.32%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	-34.98%	-1.91%
Current Drawdown Current decline from peak	-0.18%	-0.99%	+0.81%
Average Drawdown Average peak-to-trough decline	-8.71%	-12.89%	+4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.99%	-1.36%

Volatility

SPYV vs. SPDW - Volatility Comparison

The current volatility for SPDR Portfolio S&P 500 Value ETF (SPYV) is 2.70%, while SPDR Portfolio World ex-US ETF (SPDW) has a volatility of 6.86%. This indicates that SPYV experiences smaller price fluctuations and is considered to be less risky than SPDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYV	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	6.86%	-4.16%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	14.23%	-6.97%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	16.51%	-6.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.42%	16.66%	-2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	17.31%	-0.37%

SPYV vs. SPDW - Expense Ratio Comparison

Both SPYV and SPDW have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPYV vs. SPDW - Dividend Comparison

SPYV's dividend yield for the trailing twelve months is around 1.68%, less than SPDW's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPDW SPDR Portfolio World ex-US ETF	2.87%	3.30%	3.19%	2.75%	3.12%	3.04%	1.87%	3.13%	3.08%	1.86%	3.11%	2.78%
SPYV SPDR Portfolio S&P 500 Value ETF	1.68%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%

Frequently Asked Questions

Can I hold both SPYV and SPDW in my portfolio?

SPYV and SPDW have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYV or SPDW?

SPDW has higher volatility (6.86%) compared to SPYV (2.70%). In terms of maximum drawdown, SPYV dropped -58.45% vs SPDW's -60.02%.

Which ETF is better, SPYV or SPDW?

On 10-year performance, SPYV leads with 12.08% vs 10.64% for SPDW. Both ETFs have the same 0.04% expense ratio. On volatility, SPYV has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYV or SPDW?

Over the 10-year period, SPYV has performed better with a 12.08% return vs 10.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYV or SPDW?

SPYV and SPDW have the same expense ratio: 0.04% per year.

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

SPDW has the higher dividend yield at 2.87%, compared with 1.68% for SPYV.

What is the main difference between SPYV and SPDW?

SPYV is categorized as S&P 500, while SPDW is Foreign Large Cap Equities. SPYV tracks S&P 500 Value Index, while SPDW tracks S&P Developed Ex-U.S. BMI Index.

Which has better risk-adjusted returns?

SPYV currently has the higher Sharpe Ratio (2.08 vs 1.80), 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.