SPDW
SPDR Portfolio Developed World ex-US ETF
SPDR S&P World (ex-US) ETF objective is to replicate the S&P Developed Ex-U.S. BMI Index. The Index measures the investable universe of publicly traded companies domiciled in developed countri
International
EQUITY
Passive
MANAGEMENT STYLE
24.2 B
ASSETS UNDER MGMT
3 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 20, 2007 |
| Assets (mns) | $24,201 |
| Expense ratio | 3 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NESTLE SA-REG | 1.1 % |
| SAP AG | 1.1 % |
| ASML HOLDING NV | 1.0 % |
| ROCHE HOLDING LTD | 0.9 % |
| NOVARTIS AG | 0.9 % |
| TOYOTA MOTOR CORP | 0.9 % |
| SHELL PLC | 0.9 % |
| ASTRAZENECA PLC | 0.9 % |
| NOVO NORDISK A/S-B | 0.8 % |
| HSBC HOLDINGS PLC | 0.8 % |
Constituent Breakdown
| Number of holdings | 2229 |
| Herfindahl-Hirschman Index | 27 |
| Wgt avg mkt cap (mns) | $74,003 |
| Large cap (>$10bn) | 79.5% |
| Mid cap ($2-10bn) | 16.6% |
| Small cap (<$2bn) | 3.7% |
| Developed mkts. | 95.7% |
| Emerging mkts. | 4.2% |
Country Exposure
 |
JAPAN | 21.4 % |
 |
BRITAIN | 11.9 % |
 |
CANADA | 9.1 % |
 |
SWITZERLAND | 7.8 % |
 |
FRANCE | 7.7 % |
 |
GERMANY | 7.5 % |
 |
AUSTRALIA | 5.6 % |
 |
SOUTH KOREA | 3.8 % |
 |
NETHERLANDS | 3.7 % |
 |
SWEDEN | 2.9 % |
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 | 6.7% | 5.2% | 7.9% | 2.3% | 5.3% | 2.5% | -- | 0.6% |
| Dividend Yield | -0.1% | -1.8% | -0.8% | 1.2% | 5.5% | 2.5% | -- | 2.5% |
| Total Returns | 6.7% | 3.4% | 7.1% | 3.5% | 10.8% | 5.0% | -- | 3.1% | Ann. Volatility | 12.8% | 13.2% | 13.2% | 16.6% | 20.0% | 17.2% | -- | 21.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 73% |
| MSCI EAFE | 1.05 | 99% |
| MSCI Emg Mkts | 0.86 | 68% |
Liquidity Measures
| Avg. volume (000) | 6,185 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $58,340 |
Technical Indicators
| Recent close | $36.97 |
| 30d moving avg. | $36.28 |
| Annualized volatility | 18.2% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.9% |
| 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. SPDW |
Expenses vs. SPDW |
ALTAR Score™ vs. SPDW |
|---|---|---|---|---|
| IDEV | iShares Core MSCI International Developed Markets ETF | 85.9% | +1 bp | -0.1% |
| VEA | Vanguard FTSE Developed Markets ETF | 85.6% | +2 bp | +0.1% |
| IEFA | iShares Core MSCI EAFE ETF | 79.4% | +4 bp | -0.2% |
| SCHF | Schwab International Equity ETF | 79.3% | +3 bp | +0.2% |
| BKIE | BNY Mellon International Equity ETF | 75.4% | +1 bp | -0.2% |
| EFA | iShares MSCI EAFE ETF | 72.4% | +32 bp | -0.5% |
| DFAI | Dimensional International Core Equity Market ETF | 72.3% | +15 bp | +0.1% |
| HFXI | IQ FTSE International Equity Currency Neutral ETF | 70.9% | +17 bp | +0.0% |
| ACWX | iShares MSCI ACWI ex U.S. ETF | 70.7% | +31 bp | +0.7% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 69.4% | +17 bp | -0.4% |
Risk and Returns: SPDW 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 4/23/2025
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
SPDW
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
SPDW
7.5%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 260 funds in the International Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.3%. SPDW's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places SPDW in the 50th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPDWSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive International Equity ETFs |
| # of ETFs | 77 |
| Avg. Expense Ratio | 38.8 bp |
| Std. Deviation | 21.2 bp |
| SPDW (3 bp) Percentile rank | 4 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPDW | 3.0 | 3.2 | 6.2 |
| Peer Avg. | 27.8 | 14.7 | 42.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .