VXUS vs. SPDW

Last updated Aug 5, 2026

VXUS (Vanguard Total International Stock ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both exchange-traded funds - VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US 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, VXUS returned 9.59%/yr vs 10.19%/yr for SPDW. Their 0.97 correlation means they have historically moved very closely together. VXUS charges 0.05%/yr vs 0.04%/yr for SPDW.

Performance

VXUS vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Stock ETF (VXUS) 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, VXUS achieves a 15.23% return, which is significantly lower than SPDW's 16.83% return. Over the past 10 years, VXUS has underperformed SPDW with an annualized return of 9.59%, while SPDW has yielded a comparatively higher 10.19% annualized return.

VXUS

• 1D: 1.68%
• 1M: 1.90%
• 6M: 8.24%
• YTD: 15.23%
• 1Y: 28.78%
• 3Y*: 18.80%
• 5Y*: 8.98%
• 10Y*: 9.59%
• ALL TIME*: 6.70%

SPDW

• 1D: 1.63%
• 1M: 2.18%
• 6M: 9.46%
• YTD: 16.83%
• 1Y: 30.84%
• 3Y*: 19.82%
• 5Y*: 9.86%
• 10Y*: 10.19%
• ALL TIME*: 5.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPDW SPDR Portfolio World ex-US ETF	$133.02M	$158.58M	$161.89M
VXUS Vanguard Total International Stock ETF	$377.93M	$404.12M	$507.23M

VXUS vs. SPDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VXUS Vanguard Total International Stock ETF	15.23%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%
SPDW SPDR Portfolio World ex-US ETF	16.83%	34.75%	3.55%	17.81%	-15.98%	11.45%	9.90%	22.41%	-14.22%	25.81%

Correlation

The correlation between VXUS and SPDW is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011	0.97

The correlation between VXUS and SPDW has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

VXUS vs. SPDW - Sectors Allocation Comparison

Sectors	VXUS	SPDW
Technology	23.7%	9.5%
Financial Services	23.2%	18.0%
Industrials	14.5%	10.6%
Consumer Cyclical	6.8%	5.2%
Healthcare	6.8%	6.3%
Basic Materials	6.6%	5.4%
Consumer Defensive	4.8%	3.0%
Energy	4.2%	4.9%
Communication Services	3.8%	1.8%
Utilities	2.9%	1.4%
Real Estate	1.7%	1.8%

Return for Risk

VXUS vs. SPDW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VXUS

VXUS Risk / Return Rank: 66
VXUS Sharpe Ratio Rank: 66
VXUS Sortino Ratio Rank: 63
VXUS Omega Ratio Rank: 66
VXUS Calmar Ratio Rank: 66
VXUS Martin Ratio Rank: 69

SPDW

SPDW Risk / Return Rank: 70
SPDW Sharpe Ratio Rank: 70
SPDW Sortino Ratio Rank: 69
SPDW Omega Ratio Rank: 70
SPDW Calmar Ratio Rank: 69
SPDW Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VXUS vs. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) 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.

	VXUS	SPDW	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.81	-0.10
Sortino ratio: Return per unit of downside risk	2.36	2.51	-0.15
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.56	2.68	-0.12
Martin ratio: Return relative to average drawdown	9.40	10.13	-0.73

VXUS vs. SPDW - Sharpe Ratio Comparison

The current VXUS Sharpe Ratio is 1.71, which is comparable to the SPDW Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of VXUS 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

VXUS vs. SPDW - Drawdown Comparison

The maximum VXUS drawdown since its inception was -35.97%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for VXUS and SPDW.

Drawdown Indicators

	VXUS	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-60.02%	+24.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-11.55%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-13.53%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-30.21%	+0.77%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-34.98%	-0.99%
Current Drawdown Current decline from peak	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-8.16%	-12.81%	+4.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.05%	+0.02%

Volatility

VXUS vs. SPDW - Volatility Comparison

Vanguard Total International Stock ETF (VXUS) and SPDR Portfolio World ex-US ETF (SPDW) have volatilities of 5.34% and 5.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VXUS	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	5.28%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	15.06%	15.22%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	17.13%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	16.79%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	17.14%	-0.10%

VXUS vs. SPDW - Expense Ratio Comparison

VXUS has a 0.05% expense ratio, which is higher than SPDW's 0.04% 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

VXUS vs. SPDW - Dividend Comparison

VXUS's dividend yield for the trailing twelve months is around 2.53%, less than SPDW's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPDW SPDR Portfolio World ex-US ETF	2.96%	3.30%	3.19%	2.75%	3.12%	3.04%	1.87%	3.13%	3.08%	1.86%	3.11%	2.78%
VXUS Vanguard Total International Stock ETF	2.53%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both VXUS and SPDW in my portfolio?

With a correlation of 0.98, VXUS and SPDW 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, VXUS or SPDW?

VXUS has higher volatility (5.34%) compared to SPDW (5.28%). In terms of maximum drawdown, VXUS dropped -35.97% vs SPDW's -60.02%.

Which ETF is better, VXUS or SPDW?

On 10-year performance, SPDW leads with 10.19% vs 9.59% for VXUS. On fees, SPDW is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VXUS or SPDW?

Over the 10-year period, SPDW has performed better with a 10.19% return vs 9.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VXUS or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.05% for VXUS.

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

SPDW has the higher dividend yield at 2.96%, compared with 2.53% for VXUS.

What is the main difference between VXUS and SPDW?

VXUS is categorized as Global Equities, while SPDW is Foreign Large Cap Equities. VXUS tracks FTSE Global All Cap ex US Index, while SPDW tracks S&P Developed Ex-U.S. BMI Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.05% for VXUS and 0.04% for SPDW.

Which has better risk-adjusted returns?

SPDW currently has the higher Sharpe Ratio (1.81 vs 1.71), 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.