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) is a Global Multi-Region fund issued by State Street Investment Management with $2.88 billion in assets. It holds an ETFValuer grade of B, reflecting a score of 73.6 out of 100, and ranks 6th out of 8 peers in its category. The fund’s 0.3% expense ratio exceeds the category median of 0.24%, while its 2.64% dividend yield sits above the peer average of 2.01%. Concentration in the top ten holdings accounts for 19.0% of assets, with Taiwan Semiconductor Manufacturing Co Ltd representing the largest single position at 5.4%.

CWI has delivered a 1-year return of 27.11%, outperforming the category median of 24.52% and contributing to its overall rank of 62 among 458 tracked ETFs. Short-term momentum is evident, with the fund up 15.72% year-to-date and 12.76% over the past six months, though it dipped 0.33% in the last day. The price of $41.76 currently sits at 97.3% of its 52-week range, indicating it is near the top of its recent trading band. The fund’s B grade has remained unchanged over the last 35 tracked days, despite having only 3.0 years of price history available for analysis.

With a beta of 0.97, the ETF moves in close correlation with the broader market, exhibiting a volatility of 17.18% annualised that is labelled as Moderate. A Sharpe ratio of 1.29 suggests the fund has generated strong risk-adjusted returns relative to its price fluctuations. The maximum drawdown of -13.85% indicates the largest peak-to-trough decline recorded during the available history. Liquidity is characterized by an average daily volume of 218,350 shares, though the bid/ask spread of 12.68% suggests wider trading costs compared to more liquid instruments.

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

CWI Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 19.0% 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 (12.8% 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: 4.78% (as of 2026-09-04) — 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): 15.30 (as of 2026-09-07) — 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 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 118.07 (as of 2026-09-04) — 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 12.68% and average daily volume is 218K/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 $2.88B 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