GWX — State Street SPDR S&P International Small Cap ETF
International Developed Ranked #194 of 458 tracked ETFs · Issued by State Street Investment Management
GWX Price Performance — Growth of $10,000
Value of a $10,000 investment in GWX 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.
GWX Drawdown
The "underwater" chart: GWX'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.
What If You'd Invested in GWX?
See what a lump sum in GWX would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The State Street SPDR S&P International Small Cap ETF (GWX) is an International Developed fund issued by State Street Investment Management with $942 million in assets. It holds a C grade (63.8/100) and ranks 20th out of 22 peers in its category, placing it 194th among all 458 tracked ETFs. The fund’s 0.4% expense ratio is significantly higher than the category median of 0.165%, though its 2.56% dividend yield slightly exceeds the median of 2.53%. Top holdings represent only 10.5% of assets, with the largest position being State Street Global Advisors at 7.8%.
GWX has delivered a 1-year return of +23.56%, narrowly outperforming the category median of +22.96%. Short-term momentum is evident with a 1-month gain of +3.83% and a year-to-date increase of +15.15%. The price currently sits at $46.94, which is 96.3% of its 52-week range. The ETFValuer grade has remained unchanged at C over the last 35 tracked days. Historical data is available for 3.0 years, providing a limited but consistent record for analysis.
The fund exhibits a beta of 1.15, indicating it moves more than the market, and carries a moderate annualized volatility of 17.22%. A Sharpe ratio of 1.08 suggests reasonable risk-adjusted returns relative to its volatility, while the maximum drawdown has been -14.73%. Liquidity is constrained, with an average daily volume of 58,503 shares and a wide bid/ask spread of 13.36%. These metrics collectively describe a fund that has experienced significant price swings and trading costs.
AI-generated summary based on the data on this page.
GWX Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | State Street Global Advisors | 7.78% | $68M |
| 2 | AT&S Austria Technologie & Systemtechnik AG | 0.40% | $3M |
| 3 | AIXTRON SE | 0.36% | $3M |
| 4 | Mega Or Holdings Ltd | 0.33% | $3M |
| 5 | Tamarack Valley Energy Ltd | 0.29% | $3M |
| 6 | Citizen Watch Co Ltd | 0.28% | $2M |
| 7 | Ferrotec Corp | 0.27% | $2M |
| 8 | Jusung Engineering Co Ltd | 0.27% | $2M |
| 9 | Nitto Boseki Co Ltd | 0.27% | $2M |
| 10 | CKD Corp | 0.26% | $2M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 10.5% 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 GWX's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With GWX
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with GWX's top 10 — SPDW overlaps most, holding 1 of the same companies as GWX's top 10 (7.8% of GWX's assets).
| ETF | Name | Shared Companies | GWX Weight | Examples |
|---|---|---|---|---|
| SPDW | State Street SPDR Portfolio Developed World ex-US ETF | 1 | 7.8% | State Street Global Advisors |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 1 | 7.8% | State Street Global Advisors |
| SDY | State Street SPDR S&P Dividend ETF | 1 | 7.8% | State Street Global Advisors |
| KRE | State Street SPDR S&P Regional Banking ETF | 1 | 7.8% | State Street Global Advisors |
| JNK | State Street SPDR Bloomberg High Yield Bond ETF | 1 | 7.8% | State Street Global Advisors |
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: 4.77% (as of 2026-09-03) — 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): 14.32 (as of 2026-09-03) — 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: 118.75 (as of 2026-08-28) — 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.
What GWX's Fees Cost You
GWX charges an expense ratio of 0.40% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
GWX Dividend Income Estimator
GWX currently yields 2.56%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
GWX Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 13.36% and average daily volume is 59K/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 $942M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: GWX 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.
GWX Performance History
| Period | Return |
|---|---|
| 1-Day | +0.49% |
| 1-Week | +0.77% |
| 1-Month | +3.83% |
| 3-Month | +7.20% |
| 6-Month | +8.55% |
| YTD | +15.15% |
| 1-Year | +23.56% |
| 3-Year | +67.81% |
How GWX Compares to Other International Developed ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #7 | B+ |
SCHF | Schwab International Equity ETF | +30.18% | 0.03% | $69.7B |
| #8 | B+ |
VEA | Vanguard FTSE Developed Markets Index Fund ETF Shares | +29.33% | 0.03% | $323B |
| #10 | B+ |
EFV | iShares MSCI EAFE Value ETF | +30.21% | 0.31% | $31.7B |
| #11 | B+ |
SPDW | State Street SPDR Portfolio Developed World ex-US ETF | +29.42% | 0.03% | $42.3B |
| #19 | B+ |
VPL | Vanguard FTSE Pacific Index Fund ETF Shares | +41.98% | 0.07% | $13.5B |
| #24 | B+ |
AVDE | Avantis International Equity ETF | +26.20% | 0.23% | $19.1B |
| #25 | B+ |
DFAX | Dimensional World ex U.S. Core Equity 2 ETF | +29.52% | 0.28% | $12.6B |
| #32 | B+ |
IDEV | iShares Core MSCI International Developed Markets ETF | +23.30% | 0.04% | $32.7B |
| #39 | B |
IEFA | iShares Core MSCI EAFE ETF | +22.62% | 0.07% | $194B |
| #74 | B |
EFA | iShares MSCI EAFE ETF | +22.63% | 0.32% | $79.3B |
| #81 | B |
VGK | Vanguard FTSE Europe ETF | +20.93% | 0.06% | $39.0B |
| #102 | B |
IPAC | iShares Core MSCI Pacific ETF | +25.50% | 0.09% | $2.77B |
| #121 | B |
IEUR | iShares Core MSCI Europe ETF | +20.54% | 0.1% | $9.35B |
| #122 | B |
SCHC | Schwab International Small-Cap Equity ETF | +21.25% | 0.06% | $5.77B |
| #134 | B |
AAXJ | iShares MSCI All Country Asia ex Japan ETF | +41.53% | 0.72% | $3.88B |
| #160 | C |
VSS | Vanguard FTSE All-World ex-US Small-Cap Index Fund ETF Shares | +19.66% | 0.06% | $14.3B |
| #163 | C |
SCZ | iShares MSCI EAFE Small-Cap ETF | +20.46% | 0.4% | $13.2B |
| #178 | C |
EZU | iShares MSCI Eurozone ETF | +21.74% | 0.5% | $9.91B |
| #181 | C |
FEZ | State Street SPDR EURO STOXX 50 ETF | +21.87% | 0.29% | $4.49B |
| #194 | C |
GWX | State Street SPDR S&P International Small Cap ETF | +23.56% | 0.4% | $942M |
| #224 | C |
IEV | iShares Europe ETF | +20.76% | 0.6% | $1.68B |
| #284 | C |
EFG | iShares MSCI EAFE Growth ETF | +14.93% | 0.34% | $17.0B |