CWI
SPDR MSCI ACWI ex-US ETF
The SPDR MSCI ACWI ex-US ETF, before expenses, seeks to closely match the returns and characteristics of the total return performance of the MSCI ACWIsm ex USA Index, an equity index based upon a broad based world ex-US composite market.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
2.2 B
ASSETS UNDER MGMT
30 bp
EXPENSES
Fund Basics
| Fund sponsor | State Street Global Advisors |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 10, 2007 |
| Assets (mns) | $2,185 |
| Expense ratio | 30 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 +
| TAIWAN SEMICONDUCTOR-SP ADR | 3.6 % |
| TENCENT HOLDINGS LTD | 1.6 % |
| ASML HOLDING NV | 1.3 % |
| ALIBABA GROUP HOLDING LTD. | 1.1 % |
| SAMSUNG ELECTR-GDR REGS | 1.1 % |
| SAP AG | 0.9 % |
| NESTLE SA-REG | 0.8 % |
| NOVARTIS AG | 0.8 % |
| HSBC HOLDINGS PLC | 0.8 % |
| SHELL PLC | 0.8 % |
Constituent Breakdown
| Number of holdings | 1137 |
| Herfindahl-Hirschman Index | 38 |
| Wgt avg mkt cap (mns) | $126,173 |
| Large cap (>$10bn) | 86.6% |
| Mid cap ($2-10bn) | 7.5% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 69.4% |
| Emerging mkts. | 26.0% |
Country Exposure
 |
JAPAN | 13.7 % |
 |
BRITAIN | 8.9 % |
 |
CHINA | 7.3 % |
 |
CANADA | 7.1 % |
 |
FRANCE | 6.3 % |
 |
TAIWAN | 6.0 % |
 |
SWITZERLAND | 5.9 % |
 |
GERMANY | 5.6 % |
 |
INDIA | 4.2 % |
 |
AUSTRALIA | 4.0 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 25.0% | 14.7% | 18.4% | 18.1% | 7.7% | 5.6% | -- | 2.0% |
| Dividend Yield | 1.8% | 3.2% | 3.3% | 3.4% | 3.0% | 2.9% | -- | 2.8% |
| Total Returns | 26.8% | 17.9% | 21.8% | 21.5% | 10.8% | 8.5% | -- | 4.7% | Ann. Volatility | 17.0% | 16.0% | 14.6% | 15.2% | 16.0% | 17.2% | -- | 22.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 56% |
| MSCI EAFE | 0.75 | 62% |
| MSCI Emg Mkts | 0.67 | 56% |
Liquidity Measures
| Avg. volume (000) | 200 |
| ADV traded (mns) | $7 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| Recent close | $35.65 |
| 30d moving avg. | $35.05 |
| Annualized volatility | 14.2% |
| Relative strength (RSI) | 61 |
| Short interest | 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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| ACWX | iShares MSCI ACWI ex U.S. ETF | 75.7% | +4 bp | +7.4% |
| DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | 72.5% | +11 bp | +7.0% |
| GXUS | Goldman Sachs MarketBeta Total International Equity ETF | 71.4% | -12 bp | +7.3% |
| VEU | Vanguard FTSE All-World ex-US Index Fund | 70.0% | -26 bp | +7.8% |
| IXUS | iShares Core MSCI Total International Stock ETF | 66.9% | -23 bp | +7.6% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 66.8% | -27 bp | +6.8% |
| VXUS | Vanguard Total International Stock ETF | 65.1% | -25 bp | +7.7% |
| VEA | Vanguard FTSE Developed Markets ETF | 64.2% | -27 bp | +6.9% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 63.9% | -26 bp | +6.8% |
| SCHF | Schwab International Equity ETF | 61.9% | -24 bp | +6.9% |
Risk and Returns: CWI 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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 10/31/2025
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
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
CWI
7.4%
Cat. Avg
6.9%
ALTAR Score™ Calculation
Category Overview
There are 264 funds in the International Equity category, with an average ALTAR Score™
of 6.9% and a standard deviation of
1.8%. CWI's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places CWI in the 61st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
CWISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 145 |
| Avg. Expense Ratio | 43.1 bp |
| Std. Deviation | 25.2 bp |
| CWI (30 bp) Percentile rank | 30 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CWI | 30.0 | 8.5 | 38.5 |
| Peer Avg. | 43.1 | 33.8 | 76.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .