CWI — State Street SPDR MSCI ACWI ex-US ETF

CWI Price Performance — Growth of $10,000

Value of a $10,000 investment in CWI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

CWI Drawdown

The "underwater" chart: CWI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR MSCI ACWI ex-US ETF (CWI) operates within the Global Multi-Region category, where ETFValuer tracks a total of eight funds. Issued by State Street Investment Management, the fund holds $2.78 billion in assets under management and trades at a price of $39.13. It carries an overall rank of #95 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 70.8. The fund charges an expense ratio of 0.3% while offering a dividend yield of 2.70%. The combination of its substantial asset base and moderate pricing structure suggests a level of investor adoption consistent with its position as a widely followed international equity vehicle.

Recent price action shows a decline over the shortest horizons, with the fund down 0.91% over one day and 2.61% over one week. This negative momentum extended into the one-month period, which saw a return of -3.10%, before the trend reversed into positive territory over the subsequent three months. The fund posted a 3-month return of +2.25% and a 6-month return of +3.29%, indicating a recovery phase. Year-to-date performance has accelerated significantly to +8.43%, building on a strong one-year return of +22.58%. Over the longer three-year horizon, the fund has generated a cumulative return of +63.07%, demonstrating substantial growth despite the recent short-term volatility.

The fund is assigned a Moderate volatility label and exhibits a beta of 0.97, suggesting its price movements generally align with the broader market while maintaining slightly lower sensitivity. A Sharpe ratio of 1.04 indicates that the fund has generated a favorable risk-adjusted return relative to the volatility experienced. However, the maximum drawdown of -13.85% highlights the potential for significant temporary losses during market downturns. This combination of a beta near unity and a moderate volatility rating implies the fund tends to mirror market swings without extreme amplification. The Sharpe ratio suggests that the returns achieved have historically compensated investors well for the level of risk taken, even as the drawdown figure underscores the inherent downside exposure in this asset class.

AI-generated summary based on the data on this page.

CWI Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 16.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how CWI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With CWI

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with CWI's top 10 — SPDW overlaps most, holding 8 of the same companies as CWI's top 10 (11.0% of CWI's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.61% (as of 2026-07-28) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.21 (as of 2026-07-28) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 120.71 (as of 2026-07-24) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

CWI Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.13% and average daily volume is 234K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $2.78B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: CWI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

CWI Performance History

How CWI Compares to Other Global Multi-Region ETFs