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
406.0 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) | $406 |
| 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 +
| ENBRIDGE INC | 2.1 % |
| M&G PLC | 1.9 % |
| ORANGE SA | 1.8 % |
| RED ELECTRICA CORP. SA | 1.6 % |
| ITALGAS SPA | 1.6 % |
| ASCENDAS REAL ESTATE INV TRT | 1.6 % |
| NATIONAL GRID PLC | 1.6 % |
| EMERA INC | 1.6 % |
| SNAM RETE GAS | 1.6 % |
| KT&G CORP | 1.5 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 110 |
| Wgt avg mkt cap (mns) | $29,375 |
| Large cap (>$10bn) | 48.4% |
| Mid cap ($2-10bn) | 50.5% |
| Small cap (<$2bn) | 1.2% |
| Developed mkts. | 89.0% |
| Emerging mkts. | 11.0% |
Country Exposure
 |
JAPAN | 22.6 % |
 |
CANADA | 15.0 % |
 |
BRITAIN | 10.5 % |
 |
SWITZERLAND | 7.5 % |
 |
FRANCE | 6.2 % |
 |
AUSTRALIA | 5.7 % |
 |
TAIWAN | 5.2 % |
 |
ITALY | 4.3 % |
 |
GERMANY | 3.8 % |
 |
SPAIN | 3.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 6.3% | 17.5% | 16.5% | 2.8% | 2.8% | 2.4% | 0.8% | Volatility | 10.0% | 10.2% | 11.7% | 12.8% | 17.7% | 16.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.65 | 55% |
| MSCI EAFE | 0.78 | 83% |
| MSCI Emg Mkts | 0.70 | 65% |
Liquidity Measures
| Avg. volume (000) | 23 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.16% |
| ADV of underlying (mns) | $5,434 |
Technical Indicators
| Recent close | $35.77 |
| 30d moving avg. | $37.65 |
| Annualized volatility | 15.1% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DWX |
Expenses vs. DWX |
ALTAR Score™ vs. DWX |
|---|---|---|---|---|
| HDMV | First Trust Horizon Managed Volatility Developed Intl ETF | 25.1% | +35 bp | -0.9% |
| FID | First Trust S&P International Dividend Aristocrats ETF | 24.5% | +15 bp | +2.5% |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | 23.2% | -23 bp | +0.0% |
| IDLV | Invesco S&P International Developed Low Volatility ETF | 22.8% | -20 bp | -0.2% |
| WDIV | SPDR S&P Global Dividend ETF | 21.4% | -5 bp | +2.9% |
| CID | VictoryShares International High Div Volatility Wtd ETF | 20.9% | 0 bp | +3.0% |
| VWID | Virtus WMC International Dividend ETF | 19.0% | +4 bp | +3.1% |
| DWMF | WisdomTree International Multifactor Fund | 18.8% | -7 bp | +0.9% |
| LVHI | Franklin International Low Volatility High Dividend Index ET | 17.7% | -5 bp | +3.7% |
| QLVD | FlexShares Developed Markets ex-US Quality Low Volatility In | 17.3% | -13 bp | -0.6% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 11/13/2024
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
6.5%
Cat. Avg
7.4%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.6%. DWX's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places DWX in the 38th 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 | 54 |
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. | 35.1 | 18.4 | 53.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .