SPDW vs VEA Stock Comparison: AI Score, Valuation, Performance and Upside
SPDW and VEA are nearly interchangeable international developed market ETFs providing broad ex-U.S. equity exposure across Europe, Japan, Canada, and Australia. SPDW has a marginally lower expense ratio (0.03% vs 0.05%), while VEA has dramatically more AUM and liquidity. For most investors, the choice between them will have negligible long-term impact — both are excellent low-cost international core holdings.
SPDW vs VEA is a marginal cost-versus-liquidity comparison for near-identical international developed market exposure — either ETF serves as an effective complement to a U.S. equity allocation, with SPDW having a slight cost edge and VEA having a significant liquidity advantage.
SPDW holds the edge across 3 of 5 key metrics in this comparison. SPDW has delivered stronger 1-year price return (+20.65% vs +20.52% for VEA).
- prefer the lowest possible expense ratio (0.03%) for international developed market exposure
- value State Street's SPDR Portfolio ETF lineup for ultra-low-cost multi-asset-class portfolio construction
- want marginal cost optimization in an asset class where returns have historically been modest
- are comfortable with lower AUM and trading volume relative to VEA in exchange for expense savings
- prefer the most liquid international developed market ETF with the largest AUM for easy trading in all market conditions
- value Vanguard's ownership structure and long-term investor orientation for core portfolio allocations
- want the standard international developed market vehicle used in popular three-fund and four-fund lazy portfolio strategies
- are comfortable paying 0.05% (vs SPDW's 0.03%) for significantly better liquidity and brand recognition
| Metric | SPDW | VEA |
|---|---|---|
| ETF scorei | 27.1 | 27.1 |
| Latest closei | $50.32 | $70.82 |
| 1M returni | -0.47% | -0.44% |
| 3M returni | -1.81% | -1.87% |
| 6M returni | +1.17% | +0.70% |
| 1Y returni | +20.65% | +20.52% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | SPDW | VEA |
|---|---|---|
| 1Y ago | $12.46K (+24.6%) started 2025-11-04 | $12.37K (+23.7%) started 2025-11-04 |
| 5Y ago | $18.35K (+83.5%) started 2021-11-05 | $18.42K (+84.2%) started 2021-11-05 |
| 10Y ago | $36.27K (+262.7%) started 2016-11-07 | $36.77K (+267.7%) started 2016-11-07 |
Hypothetical — past performance does not guarantee future results.
| Metric | SPDW | VEA |
|---|---|---|
| Expense ratioi | 0.03% | 0.03% |
| Total assets (AUM)i | $40.99B | $310.2B |
| Dividend yieldi | 3.06% | 2.46% |
| Trailing P/Ei | 16.38 | 16.03 |
| Betai | 0.87 | 0.87 |
| 52-week change | 20.65% | 20.52% |
| Metric | SPDW | VEA |
|---|---|---|
| 1Y returni | +20.65% | +20.52% |
| 6M returni | +1.17% | +0.70% |
| 3M returni | -1.81% | -1.87% |
| 1M returni | -0.47% | -0.44% |
| 1Y Sharpe ratio | 0.91 | 0.89 |
| Betai | 0.87 | 0.87 |
| Dividend yieldi | 3.06% | 2.46% |
| 5Y CAGR | +9.19% | +9.32% |
Over the past year, SPDW and VEA have moved strongly in the same direction (correlation of 1.00), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | SPDW | VEA |
|---|---|---|---|
| 1Y | Growthi | +20.65% | +20.52% |
| CAGRi | +20.67% | +20.54% | |
| Volatilityi | 17.54% | 17.73% | |
| Sharpe ratioi | 0.91 | 0.89 | |
| Sortino ratioi | 1.33 | 1.31 | |
| Max drawdowni | 11.55% | 11.63% | |
| Current drawdowni | 3.80% | 3.79% | |
| Avg drawdowni | 2.35% | 2.39% | |
| Ulcer Indexi | 3.48% | 3.52% | |
| Max daily dropi | 3.71% | 3.72% | |
| Max wkly dropi | 6.96% | 7.06% | |
| 5Y | Growthi | +55.14% | +56.08% |
| CAGRi | +9.19% | +9.32% | |
| Volatilityi | 16.85% | 16.92% | |
| Sharpe ratioi | 0.34 | 0.35 | |
| Sortino ratioi | 0.49 | 0.50 | |
| Max drawdowni | 29.86% | 29.34% | |
| Current drawdowni | 3.80% | 3.79% | |
| Avg drawdowni | 6.86% | 6.56% | |
| Ulcer Indexi | 9.71% | 9.33% | |
| Max daily dropi | 6.34% | 6.33% | |
| Max wkly dropi | 10.59% | 10.51% | |
| 10Y | Growthi | +160.84% | +161.69% |
| CAGRi | +10.07% | +10.11% | |
| Volatilityi | 17.17% | 17.24% | |
| Sharpe ratioi | 0.38 | 0.39 | |
| Sortino ratioi | 0.53 | 0.53 | |
| Max drawdowni | 34.98% | 35.74% | |
| Current drawdowni | 3.80% | 3.79% | |
| Avg drawdowni | 6.52% | 6.50% | |
| Ulcer Indexi | 9.30% | 9.26% | |
| Max daily dropi | 11.19% | 11.18% | |
| Max wkly dropi | 20.69% | 20.94% |
| Category | SPDW | VEA |
|---|---|---|
| Fund name | State Street SPDR Portfolio Developed World ex-US ETF | Vanguard FTSE Developed Markets Index Fund ETF Shares |
| Type | ETF | ETF |
| Expense ratioi | 0.03% | 0.03% |
| Total assets (AUM)i | $40.99B | $310.2B |
| Dividend yieldi | 3.06% | 2.46% |
- 0.03% expense ratio is one of the cheapest international ETFs available, minimizing cost drag in a historically modest-return asset class
- Broad coverage including small-cap stocks in developed markets provides more complete international exposure than large-cap-only international ETFs
- State Street's brand and operational infrastructure ensure reliable index tracking
- Largest international ETF by AUM ($120B+), providing excellent secondary market liquidity for retail and institutional investors
- 0.05% expense ratio is among the cheapest international ETFs, though SPDW is marginally cheaper at 0.03%
- FTSE index covers 4,000+ developed market companies including small-caps, providing very broad international diversification
- SPDW and VEA are nearly identical in exposure — the primary differentiator is cost, where SPDW has a slight edge but VEA is also extremely cheap
- Developed markets outside the U.S. have generally underperformed U.S. equities for over a decade, reducing the appeal of international allocation overall
- Currency risk from Japanese yen, euro, and pound exposure adds volatility beyond the underlying equity returns
- SPDW's 0.03% expense ratio is 40% cheaper than VEA's 0.05% — small but real over long holding periods in a cost-sensitive asset class
- Developed market equities have significantly underperformed U.S. equities over the past decade, creating performance frustration for broad international allocators
- Currency headwinds from USD strength have periodically reduced the USD-denominated returns for VEA holders
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