VXUS vs. SPGM

Last updated Aug 5, 2026

VXUS (Vanguard Total International Stock ETF) and SPGM (SPDR Portfolio MSCI Global Stock Market ETF) are both Global Equities funds - VXUS tracks the FTSE Global All Cap ex US Index while SPGM tracks the MSCI ACWI IMI Index. Both are passively managed. Over the past 10 years, VXUS returned 9.59%/yr vs 12.78%/yr for SPGM. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VXUS charges 0.05%/yr vs 0.09%/yr for SPGM.

Performance

VXUS vs. SPGM - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with VXUS having a 15.23% return and SPGM slightly lower at 15.04%. Over the past 10 years, VXUS has underperformed SPGM with an annualized return of 9.59%, while SPGM has yielded a comparatively higher 12.78% 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%

SPGM

• 1D: 1.84%
• 1M: 2.90%
• 6M: 11.08%
• YTD: 15.04%
• 1Y: 27.20%
• 3Y*: 20.67%
• 5Y*: 11.53%
• 10Y*: 12.78%
• ALL TIME*: 11.44%

*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)
SPGM SPDR Portfolio MSCI Global Stock Market ETF	$10.14M	$13.82M	$20.56M
VXUS Vanguard Total International Stock ETF	$377.93M	$404.12M	$507.23M

VXUS vs. SPGM - 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%
SPGM SPDR Portfolio MSCI Global Stock Market ETF	15.04%	23.62%	16.75%	21.34%	-17.53%	21.13%	15.28%	26.58%	-10.12%	23.26%

Correlation

The correlation between VXUS and SPGM is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Mar 5, 2012	0.78

The correlation between VXUS and SPGM shifts across timeframes, from 0.78 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.

VXUS vs. SPGM - Sectors Allocation Comparison

Sectors	VXUS	SPGM
Technology	23.7%	30.7%
Financial Services	23.2%	16.4%
Industrials	14.5%	12.7%
Consumer Cyclical	6.8%	8.7%
Healthcare	6.8%	8.4%
Basic Materials	6.6%	3.5%
Consumer Defensive	4.8%	4.5%
Energy	4.2%	3.7%
Communication Services	3.8%	7.7%
Utilities	2.9%	2.0%
Real Estate	1.7%	1.8%

Return for Risk

VXUS vs. SPGM — 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

SPGM

SPGM Risk / Return Rank: 76
SPGM Sharpe Ratio Rank: 76
SPGM Sortino Ratio Rank: 74
SPGM Omega Ratio Rank: 75
SPGM Calmar Ratio Rank: 73
SPGM Martin Ratio Rank: 81

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. SPGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) and SPDR Portfolio MSCI Global Stock Market ETF (SPGM). 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	SPGM	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.94	-0.23
Sortino ratio: Return per unit of downside risk	2.36	2.67	-0.31
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	2.56	2.88	-0.31
Martin ratio: Return relative to average drawdown	9.40	12.11	-2.71

VXUS vs. SPGM - Sharpe Ratio Comparison

The current VXUS Sharpe Ratio is 1.71, which is comparable to the SPGM Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of VXUS and SPGM, 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. SPGM - Drawdown Comparison

The maximum VXUS drawdown since its inception was -35.97%, which is greater than SPGM's maximum drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for VXUS and SPGM.

Drawdown Indicators

	VXUS	SPGM	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-33.97%	-2.00%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-9.50%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-16.90%	+3.32%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-25.93%	-3.51%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-33.97%	-2.00%
Current Drawdown Current decline from peak	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-8.16%	-4.77%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.25%	+0.82%

Volatility

VXUS vs. SPGM - Volatility Comparison

Vanguard Total International Stock ETF (VXUS) has a higher volatility of 5.34% compared to SPDR Portfolio MSCI Global Stock Market ETF (SPGM) at 4.34%. This indicates that VXUS's price experiences larger fluctuations and is considered to be riskier than SPGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VXUS	SPGM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	4.34%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	15.06%	11.88%	+3.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	14.13%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	16.21%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	17.34%	-0.30%

VXUS vs. SPGM - Expense Ratio Comparison

VXUS has a 0.05% expense ratio, which is lower than SPGM's 0.09% expense ratio. Despite the difference, 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. SPGM - Dividend Comparison

VXUS's dividend yield for the trailing twelve months is around 2.53%, more than SPGM's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPGM SPDR Portfolio MSCI Global Stock Market ETF	1.76%	1.89%	1.98%	2.09%	2.37%	1.94%	1.45%	2.46%	1.89%	2.29%	1.87%	3.70%
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 SPGM in my portfolio?

With a correlation of 0.93, VXUS and SPGM 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 SPGM?

VXUS has higher volatility (5.34%) compared to SPGM (4.34%). In terms of maximum drawdown, VXUS dropped -35.97% vs SPGM's -33.97%.

Which ETF is better, VXUS or SPGM?

On 10-year performance, SPGM leads with 12.78% vs 9.59% for VXUS. On fees, VXUS is cheaper at 0.05% per year. On volatility, SPGM has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VXUS or SPGM?

Over the 10-year period, SPGM has performed better with a 12.78% 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 SPGM?

VXUS is cheaper with a 0.05% expense ratio, compared with 0.09% for SPGM.

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

VXUS has the higher dividend yield at 2.53%, compared with 1.76% for SPGM.

What is the main difference between VXUS and SPGM?

VXUS tracks FTSE Global All Cap ex US Index, while SPGM tracks MSCI ACWI IMI Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.05% for VXUS and 0.09% for SPGM.

Which has better risk-adjusted returns?

SPGM currently has the higher Sharpe Ratio (1.94 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.