WDIV vs. INFL

Last updated Aug 2, 2026

WDIV (SPDR S&P Global Dividend ETF) and INFL (Horizon Kinetics Inflation Beneficiaries ETF) are both Global Equities funds. WDIV is passively managed, while INFL is actively managed. Over the past 5 years, WDIV returned 9.32%/yr vs 12.86%/yr for INFL. Their 0.69 correlation means they have sometimes moved together and sometimes differently. WDIV charges 0.40%/yr vs 0.85%/yr for INFL.

Performance

WDIV vs. INFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Global Dividend ETF (WDIV) and Horizon Kinetics Inflation Beneficiaries ETF (INFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WDIV achieves a 13.12% return, which is significantly lower than INFL's 15.87% return.

WDIV

• 1D: -0.95%
• 1M: 3.48%
• 6M: 7.94%
• YTD: 13.12%
• 1Y: 24.19%
• 3Y*: 17.63%
• 5Y*: 9.32%
• 10Y*: 7.59%
• ALL TIME*: 7.24%

INFL

• 1D: -0.06%
• 1M: 3.05%
• 6M: 5.26%
• YTD: 15.87%
• 1Y: 25.84%
• 3Y*: 18.91%
• 5Y*: 12.86%
• 10Y*: —
• ALL TIME*: 15.35%

*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)
INFL Horizon Kinetics Inflation Beneficiaries ETF	$4.88M	$5.98M	$13.46M
WDIV SPDR S&P Global Dividend ETF	$1.02M	$920.01K	$626.08K

WDIV vs. INFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WDIV SPDR S&P Global Dividend ETF	13.12%	27.16%	7.61%	8.21%	-6.92%	11.25%
INFL Horizon Kinetics Inflation Beneficiaries ETF	15.87%	18.30%	23.34%	1.62%	2.65%	25.22%

Correlation

The correlation between WDIV and INFL is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (All Time) Calculated using the full available price history since Jan 12, 2021	0.69

Over the past year, the correlation between WDIV and INFL has dropped to 0.49 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

WDIV vs. INFL - Sectors Allocation Comparison

Sectors	WDIV	INFL
Financial Services	22.5%	20.6%
Utilities	13.8%	3.0%
Real Estate	12.8%	1.2%
Industrials	11.8%	1.8%
Communication Services	9.4%	0.3%
Energy	7.1%	43.4%
Consumer Defensive	6.6%	1.9%
Technology	4.6%	-
Consumer Cyclical	4.2%	-
Healthcare	3.9%	1.3%
Basic Materials	3.4%	19.1%

Return for Risk

WDIV vs. INFL — Risk / Return Rank

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

WDIV

WDIV Risk / Return Rank: 86
WDIV Sharpe Ratio Rank: 91
WDIV Sortino Ratio Rank: 92
WDIV Omega Ratio Rank: 91
WDIV Calmar Ratio Rank: 78
WDIV Martin Ratio Rank: 80

INFL

INFL Risk / Return Rank: 60
INFL Sharpe Ratio Rank: 68
INFL Sortino Ratio Rank: 60
INFL Omega Ratio Rank: 63
INFL Calmar Ratio Rank: 59
INFL Martin Ratio Rank: 48

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.

WDIV vs. INFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Dividend ETF (WDIV) and Horizon Kinetics Inflation Beneficiaries ETF (INFL). 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.

	WDIV	INFL	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.55	+0.80
Sortino ratio: Return per unit of downside risk	3.36	2.02	+1.34
Omega ratio: Gain probability vs. loss probability	1.43	1.27	+0.16
Calmar ratio: Return relative to maximum drawdown	2.75	2.07	+0.68
Martin ratio: Return relative to average drawdown	10.25	5.55	+4.70

WDIV vs. INFL - Sharpe Ratio Comparison

The current WDIV Sharpe Ratio is 2.34, which is higher than the INFL Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of WDIV and INFL, 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

WDIV vs. INFL - Drawdown Comparison

The maximum WDIV drawdown since its inception was -42.34%, which is greater than INFL's maximum drawdown of -21.30%. Use the drawdown chart below to compare losses from any high point for WDIV and INFL.

Drawdown Indicators

	WDIV	INFL	Difference
Max Drawdown Largest peak-to-trough decline	-42.34%	-21.30%	-21.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-12.20%	+3.59%
Max Drawdown (3Y) Largest decline over 3 years	-9.20%	-15.56%	+6.36%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-21.30%	-0.82%
Max Drawdown (10Y) Largest decline over 10 years	-42.34%	—	—
Current Drawdown Current decline from peak	-0.95%	-6.59%	+5.64%
Average Drawdown Average peak-to-trough decline	-5.79%	-5.20%	-0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	4.55%	-2.24%

Volatility

WDIV vs. INFL - Volatility Comparison

The current volatility for SPDR S&P Global Dividend ETF (WDIV) is 2.48%, while Horizon Kinetics Inflation Beneficiaries ETF (INFL) has a volatility of 3.06%. This indicates that WDIV experiences smaller price fluctuations and is considered to be less risky than INFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDIV	INFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	3.06%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	8.34%	12.71%	-4.37%
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	16.38%	-6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.72%	17.74%	-5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	17.59%	-2.45%

WDIV vs. INFL - Expense Ratio Comparison

WDIV has a 0.40% expense ratio, which is lower than INFL's 0.85% expense ratio.

Dividends

WDIV vs. INFL - Dividend Comparison

WDIV's dividend yield for the trailing twelve months is around 4.10%, more than INFL's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INFL Horizon Kinetics Inflation Beneficiaries ETF	0.80%	1.26%	1.77%	1.60%	1.65%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WDIV SPDR S&P Global Dividend ETF	4.10%	4.27%	4.63%	4.73%	5.12%	4.15%	5.55%	3.99%	4.42%	3.62%	4.32%	5.03%

Frequently Asked Questions

Can I hold both WDIV and INFL in my portfolio?

WDIV and INFL have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WDIV or INFL?

INFL has higher volatility (3.06%) compared to WDIV (2.48%). In terms of maximum drawdown, WDIV dropped -42.34% vs INFL's -21.30%.

Which ETF is better, WDIV or INFL?

On 5-year performance, INFL leads with 12.86% vs 9.32% for WDIV. On fees, WDIV is cheaper at 0.40% per year. On volatility, WDIV has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDIV or INFL?

Over the 5-year period, INFL has performed better with a 12.86% return vs 9.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDIV or INFL?

WDIV is cheaper with a 0.40% expense ratio, compared with 0.85% for INFL.

Which ETF pays a higher dividend yield, WDIV or INFL?

WDIV has the higher dividend yield at 4.10%, compared with 0.80% for INFL.

What is the main difference between WDIV and INFL?

They also come from different issuers: State Street and Horizon Kinetics. Their fees differ too: 0.40% for WDIV and 0.85% for INFL.

Which has better risk-adjusted returns?

WDIV currently has the higher Sharpe Ratio (2.34 vs 1.55), 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.