State Street SPDR S&P Emerging Markets Small Cap ETF
$71.40−0.24 (−0.34%)
- 0.65%
- $670M
- +12.3%
- 2.57%
- 0M sh
- $72.04
- low $64.18high $76.61
The ETF.net EWX Grade
B
Score 59 out of 100
- 14 of 22
Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D33 out of 100Rank 14 of 22Mission
Whether the fund did what it promised, tested against its stated mandate.A84 out of 100Rank 12 of 17Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 10 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B56 out of 100Rank 10 of 22Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A88 out of 100Rank 1 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A79 out of 100Rank 5 of 22
Our read on EWX
BEmerging markets, minus the giants. EWX tracks an index capped at companies under $2 billion in market value, spreading across roughly 3,400 names. The local small-cap slice of EM, not the state-backed mega caps.
The fund seeks to track the total return of the S&P Emerging Under USD2 Billion Index and provide exposure to small-capitalization equities from emerging countries.
Why people hold it
- The mandate is literal: nothing above $2 billion in market value gets in, so you own local operators instead of the mega caps that anchor standard EM indexes.ssga.com
- Roughly 3,400 holdings across the developing world. No single stock carries this fund, which matters in a corner of the market where research coverage is thin.
- Running since 2008, and it has tracked its benchmark closely, the hard half of the job when your index spans thousands of small caps in dozens of currencies.
Worth knowing
- At 0.65% a year it costs more than the typical emerging-markets fund. Indexing thousands of small foreign stocks is expensive work, and you pay for it every year.
- Thinly traded. Spreads can widen, so order type and time of day matter more here than with a mega-cap EM fund such as BKEM or VEXC.
- EM small caps live off local economies and currencies, which tends to mean bigger swings than a broad EM fund built on multinationals. Payouts come once or twice a year.
EWX Holdings
- Stocks
- 3,504
- 2%
- Ssi Us Gov Money Market Class
Sectors
- Technology19.7%
- Industrials19.3%
- Consumer Discretionary13.6%
- Materials11.5%
- Health Care8.8%
- Financials7.7%
- Real Estate6.3%
- Consumer Staples6.2%
- Communication2.6%
- Utilities2.4%
- Energy1.9%
Geography
- Taiwan25.83%
- China21.91%
- India20.75%
- Brazil4.11%
- Malaysia3.96%
- Saudi Arabia3.20%
- South Africa3.08%
- Thailand2.94%
- 14.23%
Developed 3% · Emerging 97%
EWX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
EWX$11,230
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | EWX |
|---|---|
| Year to date | +9.9% |
| 1 month | −1.3% |
| 3 months | −3.0% |
| 1 year | +12.3% |
| 3 years | +13.3% |
| 5 years | +6.9% |
| 10 years | +8.2% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | EWX |
|---|---|---|
| 2026 YTD | +9.9% | |
| 2025 | +15.4% | |
| 2024 | +6.8% | |
| 2023 | +18.2% | |
| 2022 | −15.0% | |
| 2021 | +18.2% | |
| 2020 | +14.9% |
EWX in the news
EWX Dividends
- 2.57%
- $1.84
- $0.57 per share
- Twice a year
Distribution history
EWX Risk
- 14.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.61
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −24.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.72
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
EWX Cost
0.65%
EWX0.65%
- The middle half of Emerging Markets Stocks funds
- Median 0.53%
13 of the 22 Emerging Markets Stocks funds charge less.
Other funds in Emerging Markets Stocks
- BEEMSiShares MSCI Emerging Markets Small-Cap ETFExpense ratio 0.72%1 year return +17.7%
- BSTXEStrive Emerging Markets Ex-China ETFExpense ratio 0.32%1 year return +52.9%
- BKEMXKraneShares MSCI Emerging Markets ex China Index ETFExpense ratio 0.59%1 year return +52.8%
- CASEAGlobal X - FTSE Southeast Asia ETFExpense ratio 0.65%1 year return +25.2%
- DAFKVanEck Africa Index ETFExpense ratio 0.76%1 year return +13.8%