DWX
SPDR S&P International Dividend ETF
SPDR S&P International Dividend ETF objective is to provide investment results that correspond generally to the price and yield performance of the S&P International Dividend Opportunities Inde
International
EQUITY
Rules-Based
MANAGEMENT STYLE
441.7 M
ASSETS UNDER MGMT
45 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 12, 2008 |
| Assets (mns) | $442 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Dividends |
| Weighting | Dividend |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APA GROUP | 2.2 % |
| ORANGE SA | 2.1 % |
| BOUYGUES SA | 1.8 % |
| SNAM RETE GAS | 1.8 % |
| EDP-ENERGIAS DE PORTUGAL SA | 1.7 % |
| ITALGAS SPA | 1.7 % |
| RED ELECTRICA CORP. SA | 1.6 % |
| EIFFAGE | 1.5 % |
| NATIONAL GRID PLC | 1.5 % |
| EMERA INC | 1.4 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 111 |
| Wgt avg mkt cap (mns) | $32,495 |
| Large cap (>$10bn) | 55.3% |
| Mid cap ($2-10bn) | 41.1% |
| Small cap (<$2bn) | 3.6% |
| Developed mkts. | 89.1% |
| Emerging mkts. | 10.9% |
Country Exposure
 |
JAPAN | 23.5 % |
 |
CANADA | 13.0 % |
 |
BRITAIN | 10.4 % |
 |
SWITZERLAND | 7.7 % |
 |
FRANCE | 7.2 % |
 |
AUSTRALIA | 7.1 % |
 |
TAIWAN | 5.2 % |
 |
ITALY | 4.5 % |
 |
GERMANY | 3.6 % |
 |
SPAIN | 3.3 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.3% | 6.6% | 4.6% | -1.6% | -0.1% | -1.8% | -- | -3.9% |
| Dividend Yield | 4.4% | 5.8% | 5.8% | 5.7% | 9.1% | 5.5% | -- | 5.0% |
| Total Returns | 9.7% | 12.4% | 10.3% | 4.1% | 9.1% | 3.6% | -- | 1.1% | Ann. Volatility | 9.5% | 10.2% | 10.6% | 12.9% | 17.7% | 16.3% | -- | 22.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.60 | 47% |
| MSCI EAFE | 0.81 | 83% |
| MSCI Emg Mkts | 0.71 | 64% |
Liquidity Measures
| Avg. volume (000) | 64 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.16% |
| ADV of underlying (mns) | $3,771 |
Technical Indicators
| Recent close | $40.15 |
| 30d moving avg. | $37.98 |
| Annualized volatility | 15.4% |
| Relative strength (RSI) | 60 |
| Short interest (ETF) | 0.8% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DWX |
Expenses vs. DWX |
ALTAR Score™ vs. DWX |
|---|---|---|---|---|
| FID | First Trust S&P International Dividend Aristocrats ETF | 26.3% | +15 bp | +2.7% |
| HDMV | First Trust Horizon Managed Volatility Developed Intl ETF | 26.0% | +35 bp | -0.8% |
| IDLV | Invesco S&P International Developed Low Volatility ETF | 24.6% | -20 bp | -0.1% |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | 23.8% | -23 bp | -0.6% |
| WDIV | SPDR S&P Global Dividend ETF | 22.3% | -5 bp | +3.4% |
| VWID | Virtus WMC International Dividend ETF | 17.6% | +4 bp | +2.6% |
| QLVD | FlexShares Developed Markets ex-US Quality Low Volatility In | 17.4% | -13 bp | -0.3% |
| DWMF | WisdomTree International Multifactor Fund | 17.0% | -7 bp | +0.6% |
| EFV | iShares MSCI EAFE Value ETF | 17.0% | -11 bp | +3.3% |
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | 16.6% | -15 bp | +1.0% |
Risk and Returns: DWX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2024 | 2025E | Fwd Est | 2026E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/17/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DWX
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
DWX
6.3%
Cat. Avg
7.6%
ALTAR Score™ Calculation
Category Overview
There are 260 funds in the International Equity category, with an average ALTAR Score™
of 7.6% and a standard deviation of
2.3%. DWX's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places DWX in the 29th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DWXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| DWX (45 bp) Percentile rank | 53 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DWX | 45.0 | 16.3 | 61.3 |
| Peer Avg. | 35.3 | 19.2 | 54.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .