ACWI vs SPGM: Grades, Fees and Holdings Compared

iShares MSCI ACWI ETF

ACWIBNasdaq

State Street SPDR Portfolio MSCI Global Stock Market ETF

SPGMANYSE Arca

Overlap

71.9%by weight

Expense ratio

SPGM −0.23pt a year

ACWI0.32%SPGM0.09%

Avg volume · 30D

ACWI 21.0×the volume

ACWI2.41MSPGM115K

10Y return · a year

ACWI +0.1pt

ACWI+12.5%SPGM+12.4%

ACWI vs SPGM Performance

Nov 12, 2021 – Nov 13, 2026

+59.1%ACWI+60.9%SPGM

Expense ratio: ACWI 0.32%; SPGM 0.09%, better
Fund size: ACWI $32.7B; SPGM $1.8B
1Y total return: ACWI +13.1%; SPGM +13.9%, better
Yield (12M): ACWI 1.44%; SPGM 1.81%, better
Holdings: ACWI 2220; SPGM 2917
Avg volume (30D): ACWI 2.41M sh, better; SPGM 115K sh
NAV per share: ACWI $156.45; SPGM $85.12
52W range

ETF.net Grade

Pillar letters and Scores for ACWI, SPGM, with each pillar’s weight
Pillar	ACWI	SPGM
Cost30% weight	C42	A73Higher
Mission25% weight	A89	A100Higher
Risk15% weight	C51Higher	C49
Tradability15% weight	A73Higher	C43
Holdings10% weight	C54	A73Higher
Durability5% weight	B67Higher	C54

Rank among MSCI ACWI / World funds

How we build Categories ›

Same Category. ACWI and SPGM are both graded against the same 6 MSCI ACWI / World funds, so their Grades compare head to head.

MSCI ACWI / World⁠

Category · 6 funds

See all 6 ›

SPGM ranks 2nd and ACWI 4th of 6 funds in the MSCI ACWI / World Category.

Rank 1AVTVanguard Total World Stock ETFScore 78
Rank 2ASPGMState Street SPDR Portfolio MSCI Global Stock Market ETFScore 70
Rank 3BCRBNiShares Low Carbon Optimized MSCI ACWI ETFScore 62
Rank 4BACWIiShares MSCI ACWI ETFScore 61
Rank 5BIOOiShares Global 100 ETFScore 56

Our read on each fund

ETF.net Research

ACWIBiShares MSCI ACWI ETF

SPGMAState Street SPDR Portfolio MSCI Global Stock Market ETF

In short

ACWI ACWI borrows its name from the benchmark pros use as shorthand for "global stocks": large and mid caps across developed and emerging markets, roughly 2,200 of them, bought in one trade.

SPGM One ticker for the whole investable world. SPGM tracks MSCI's ACWI IMI index, holding roughly 2,900 stocks across developed and emerging markets, and charges 0.09% a year to do it.

Stated mandate

ACWI The fund seeks to track an index of large- and mid-cap equities across developed and emerging markets worldwide.

SPGM The fund seeks to track, before fees and expenses, the total return performance of the MSCI ACWI IMI Index.

Why people hold it

ACWI One ticker, both halves of the world map: developed and emerging markets, large and mid caps, roughly 2,200 stocks in a single line item.
Charges 0.32% a year, below the 0.45% median for its index-tracking peer group.
Trading since 2008 and now a multi-billion-dollar fund that changes hands actively, which shows up in tight, dependable execution.
Sticks close to the MSCI All Country World Index it quotes, one of the stronger index implementations in its peer group.

SPGM 0.09% a year, against a 0.45% median for the index-wrapper funds it competes with. That gap compounds quietly in your favor.
Roughly 2,900 stocks in one line item: US, developed foreign, emerging. No rebalancing between three regional funds, no home-country blind spot.ssga.com
Pure replication, done tightly: the fund has stuck close to the MSCI ACWI IMI index it promises, one of the cleaner implementations among the index trackers we cover.ssga.com
Live since 2012 and now a multi-billion-dollar fund, so it is not a launch-year experiment hunting for assets.

Worth knowing

ACWI Fee is the trade-off: VT runs the same one-ticker global idea at 0.06%.
The mandate stops at large and mid caps, so the world's smaller companies sit outside the portfolio.
Emerging-market holdings and foreign currencies come with the package, so returns move with more than just US stocks.

SPGM Vanguard's VT covers similar all-world ground for 0.06%. Small gap, but real if fee is your only tiebreaker.
Owning the world means owning its currencies and its emerging markets. Foreign swings show up in your return, unsmoothed.
Moderately traded rather than a volume monster, so bid-ask spreads can run wider than the busiest global funds.

Full ACWI profile⁠

Full SPGM profile⁠

ACWI vs SPGM Holdings

How ACWI and SPGM differ

Overlap by weight

71.9%

Shared holdings make up 86.9% of SPGM and 85.3% of ACWI.

Level by level

Holdings1,022 in both71.9%
Countryby domicile92.6%
Sector11 Sectors97.6%
Asset classStocks100%

Sector

Sector weights in ACWI and SPGM, widest gap first
Sector	Gap	ACWI	SPGM
Technology	ACWI +1.8 points	29.2%	27.4%
Industrials	SPGM +1.5 points	10.3%	11.8%
Utilities	ACWI +0.3 points	2.5%	2.2%
Energy	SPGM +0.3 points	4.1%	4.4%
Consumer Staples	ACWI +0.3 points	5.4%	5.1%
Financials	SPGM +0.3 points	17.3%	17.6%
Health Care	SPGM +0.2 points	9.6%	9.8%
Consumer Discretionary	SPGM +0.1 points	9.1%	9.2%
Communication	ACWI +0.1 points	7.3%	7.2%
Materials	SPGM +0.1 points	3.6%	3.7%
Real Estate	SPGM +0.1 points	1.6%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in ACWI and SPGM, widest gap first
Country	Gap	ACWI	SPGM
United States	ACWI +5.8 points	69.4%	63.6%
Sweden	SPGM +0.9 points	0.0%	0.9%
Spain	SPGM +0.8 points	0.0%	0.8%
Italy	SPGM +0.7 points	0.0%	0.7%
Hong Kong	SPGM +0.5 points	0.0%	0.5%
Other countries (32)	SPGM +3.0 points	30.6%	33.6%

Outside the US: ACWI 69% developed, 31% emerging. SPGM 70% developed, 30% emerging.

Concentration

Weight in the 10 largest Holdings

ACWI24.0%
SPGM21.3%

Securities held

ACWI2,190
SPGM2,884

Asset class

ACWI: Stocks
SPGM: Stocks

Holdings

Only in ACWI1,168
In both1,022
Only in SPGM1,862

Only in ACWI

1,168 securities, 14.3% of ACWI by weight

Samsung Electronics Ltd0.71%
Samsung Electronics Non Voting Pre0.10%
Marriott International Class A0.09%
Hon Hai Precision Industry Ltd0.09%
Motorola Solutions Inc0.09%
Icici Bank0.08%
Hilton Worldwide Holdings0.08%
Investor Class B0.08%
Ww Grainger Inc0.07%
Cardinal Health0.06%
Monster Beverage0.06%
Cencora0.06%
Truist Financial0.06%
Targa Resources0.06%
Cheniere Energy0.06%
Edwards Lifesciences0.06%
Dhl AG0.06%
Dominion Energy0.06%
London Stock Exchange Group PLC0.06%
Natwest Group PLC0.06%
Lonza Group AG0.06%
Paccar Inc0.06%
Oneok0.05%
Ametek Inc0.05%
Realty Income Reit0.05%
Autozone0.05%
Entergy Corp0.05%
Westinghouse Air Brake Technologie0.05%
Republic Services Inc0.05%
L3HARRIS Technologies0.05%
Caixabank SA0.05%
Sempra0.05%
Keurig Dr Pepper Inc0.05%
Xcel Energy Inc0.05%
Ferrari0.05%
Volvo Class B0.05%
Nasdaq Inc0.05%
Atlas Copco Class A0.05%
Msci0.05%
Fifth Third Bancorp0.05%
Garmin0.05%
Roper Technologies0.05%
Franco Nevada0.05%
Waste Connections0.05%
Ameriprise Finance Inc0.05%
Rockwell Automation Inc0.05%
Iqvia Holdings Inc0.04%
Ventas Reit0.04%
Consolidated Edison0.04%
American International Group0.04%

Only in SPGM

1,862 securities, 12.9% of SPGM by weight

Taiwan Semiconductor Sp Adr1.48%
Samsung Electr Gdr Reg’s0.66%
Icici Bank Ltd Spon Adr0.15%
Hon Hai Precision Gdr Reg’s0.13%
Relx PLC0.13%
Dhl AG0.12%
Region Group0.10%
State Bank of Indi Gdr Reg’s0.10%
Dr. Reddy’s Laboratories Adr0.09%
Grupo Mexico Sab De Cv Ser B0.09%
Intercontinental Hotels Grou0.09%
Astrazeneca PLC0.09%
Samsung Electronics Pref0.08%
Reliance Inds Spons Gdr 144A0.08%
Larsen & Toubro Gdr Reg’s0.08%
Chunghwa Telecom Lt Spon Adr0.08%
Volvo Ab A Shs0.07%
Whitbread PLC0.07%
United Microelectron Sp Adr0.07%
Securitas Ab B Shs0.07%
Infosys Ltd Sp Adr0.07%
Moderna Inc0.06%
Jm Smucker Co/The0.06%
Franklin Templeton Inc0.06%
Credit Saison Co Ltd0.06%
Petroleo Brasil Sp Pref Adr0.06%
Fomento Economico Mexica Ubd0.06%
Nordea Bank Abp0.06%
Kamigumi Co Ltd0.06%
Clorox Company0.06%
America Movil Sab De C Ser B0.06%
Onex Corporation0.06%
Ferrari NV0.06%
Vale SA Sp Adr0.06%
Yamaha Corp0.06%
Mahindra & Mahindra Spon Gdr0.05%
Grupo Financiero Banorte O0.05%
Umh Properties Inc0.05%
Itau Unibanco H Spon Prf Adr0.05%
Mebuki Financial Group Inc0.05%
Do & Co AG0.05%
Newmont Corp Cdi0.05%
Generali0.05%
Upm Kymmene Oyj0.04%
Rogers Communications Inc B0.04%
Cairn Homes PLC0.04%
Electrical Industries Co0.04%
Marui Group Co Ltd0.04%
Aldrees Petroleum and Transp0.04%
Allegion PLC0.04%

Weight gaps

The 100 widest of 1,022 Holdings in both funds.

Holding weights in ACWI and SPGM, widest gap first
Holding	Gap	ACWI	SPGM
Taiwan Semiconductor Manufacturing	ACWI +1.64 points	1.76%	0.12%
AppleAAPL	ACWI +0.56 points	5.13%	4.57%
NVIDIANVDA	ACWI +0.50 points	3.92%	3.42%
Amazon.com IncAMZN	ACWI +0.35 points	2.53%	2.18%
MicrosoftMSFT	ACWI +0.35 points	3.61%	3.26%
Bank of New York Mellon CorpBNY	SPGM +0.19 points	0.10%	0.29%
AflacAFL	SPGM +0.16 points	0.06%	0.22%
Travelers CompaniesTRV	SPGM +0.17 points	0.08%	0.25%
Alphabet Class AGOOGL	ACWI +0.15 points	1.69%	1.54%
Kyocera	SPGM +0.16 points	0.02%	0.18%
Meta Platforms Class AMETA	ACWI +0.16 points	1.36%	1.20%
Ross Stores IncROST	SPGM +0.15 points	0.07%	0.22%
TjxTJX	SPGM +0.15 points	0.15%	0.30%
Bank Leumi Le Israel	SPGM +0.14 points	0.03%	0.17%
Eli LillyLLY	ACWI +0.14 points	1.13%	0.99%
American ExpressAXP	SPGM +0.14 points	0.17%	0.31%
MetlifeMET	SPGM +0.13 points	0.06%	0.19%
National Bank of Canada	SPGM +0.13 points	0.06%	0.19%
General Dynamics CorpGD	SPGM +0.13 points	0.08%	0.21%
RtxRTX	SPGM +0.13 points	0.27%	0.40%
Singapore Exchange	SPGM +0.13 points	0.01%	0.14%
ChubbCB	SPGM +0.13 points	0.13%	0.26%
Ge AerospaceGE	ACWI +0.13 points	0.35%	0.22%
Berkshire Hathaway Inc Class BBRK.B	ACWI +0.12 points	0.81%	0.69%
CsxCSX	SPGM +0.13 points	0.09%	0.22%
Agilent Technologies IncA	SPGM +0.12 points	0.05%	0.17%
Kddi	SPGM +0.12 points	0.05%	0.17%
CitigroupC	SPGM +0.12 points	0.21%	0.33%
Micron TechnologyMU	ACWI +0.12 points	0.90%	0.78%
Tesla IncTSLA	ACWI +0.12 points	1.10%	0.98%
Johnson & JohnsonJNJ	ACWI +0.11 points	0.66%	0.55%
Te Connectivity PLCTEL	SPGM +0.12 points	0.06%	0.18%
Johnson Controls International PLCJCI	SPGM +0.11 points	0.09%	0.20%
Loblaw Companies Ltd	SPGM +0.11 points	0.03%	0.14%
Emerson ElectricEMR	SPGM +0.12 points	0.09%	0.21%
Mastercard Class AMA	ACWI +0.12 points	0.53%	0.41%
Public Storage ReitPSA	SPGM +0.12 points	0.05%	0.17%
Geberit AG	SPGM +0.11 points	0.02%	0.13%
Broadcom IncAVGO	ACWI +0.10 points	1.53%	1.43%
Toyota Tsusho	SPGM +0.10 points	0.03%	0.13%
ChevronCVX	SPGM +0.10 points	0.39%	0.49%
Morgan StanleyMS	SPGM +0.10 points	0.22%	0.32%
Discovery	SPGM +0.10 points	<0.01%	0.11%
Keysight TechnologiesKEYS	SPGM +0.10 points	0.05%	0.15%
Bhp Group Ltd	ACWI +0.11 points	0.21%	0.10%
Allstate CorpALL	SPGM +0.10 points	0.07%	0.17%
Bank of AmericaBAC	SPGM +0.10 points	0.32%	0.42%
Acciona	SPGM +0.11 points	<0.01%	0.10%
Sun Hung Kai Properties Ltd	SPGM +0.10 points	0.02%	0.12%
WelltowerWELL	ACWI +0.10 points	0.17%	0.07%
Goldman Sachs GroupGS	SPGM +0.10 points	0.27%	0.37%
Commonwealth Bank of Australia	ACWI +0.10 points	0.19%	0.09%
Waste Management IncWM	SPGM +0.10 points	0.09%	0.19%
Capital One Financial CorpCOF	SPGM +0.10 points	0.11%	0.21%
Astrazeneca PLCAZN.L	ACWI +0.09 points	0.27%	0.18%
Marubeni	SPGM +0.09 points	0.05%	0.14%
Oreilly Automotive IncORLY	SPGM +0.10 points	0.07%	0.17%
BlackRockBLK	ACWI +0.10 points	0.18%	0.08%
Lair Liquide Societe Anonyme Pour	ACWI +0.09 points	0.13%	0.04%
American Electric Power IncAEP	SPGM +0.09 points	0.07%	0.16%
Norfolk Southern CorpNSC	SPGM +0.09 points	0.07%	0.16%
Lockheed MartinLMT	SPGM +0.09 points	0.12%	0.21%
Mckesson CorpMCK	SPGM +0.09 points	0.12%	0.21%
Marathon PetroleumMPC	SPGM +0.08 points	0.12%	0.20%
Atlas Copco Class B	SPGM +0.09 points	0.02%	0.11%
Thermo Fisher ScientificTMO	SPGM +0.09 points	0.26%	0.35%
Macquarie Group Ltd Def	SPGM +0.09 points	0.06%	0.15%
Abb Ltd	SPGM +0.08 points	0.13%	0.21%
Fedex CorpFDX	SPGM +0.08 points	0.07%	0.15%
Cummins IncCMI	SPGM +0.08 points	0.06%	0.14%
Sompo Holdings	SPGM +0.08 points	0.04%	0.12%
Netapp IncNTAP	SPGM +0.07 points	0.04%	0.11%
Acs Actividades De Construccion Y	SPGM +0.08 points	0.02%	0.10%
EbayEBAY	SPGM +0.07 points	0.05%	0.12%
Obayashi	SPGM +0.08 points	0.01%	0.09%
Ferguson EnterprisesFERG	SPGM +0.08 points	0.05%	0.13%
Wells FargoWFC	SPGM +0.07 points	0.26%	0.33%
FastenalFAST	SPGM +0.08 points	0.06%	0.14%
ConocophillipsCOP	SPGM +0.08 points	0.16%	0.24%
Amphenol Corp Class AAPH	ACWI +0.07 points	0.19%	0.12%
Union PacificUNP	SPGM +0.07 points	0.18%	0.25%
Prologis ReitPLD	SPGM +0.07 points	0.12%	0.19%
Quanta Services IncPWR	ACWI +0.08 points	0.09%	0.01%
Verizon Communications IncVZ	ACWI +0.07 points	0.19%	0.12%
M&T BankMTB	SPGM +0.07 points	0.03%	0.10%
Valero Energy CorpVLO	SPGM +0.07 points	0.11%	0.18%
Vertex PharmaceuticalsVRTX	ACWI +0.08 points	0.14%	0.06%
Prudential Financial IncPRU	SPGM +0.07 points	0.04%	0.11%
Advanced Micro DevicesAMD	ACWI +0.08 points	0.89%	0.81%
WalmartWMT	ACWI +0.07 points	0.54%	0.47%
Lowes Companies IncLOW	SPGM +0.07 points	0.13%	0.20%
DanaherDHR	SPGM +0.07 points	0.15%	0.22%
Lam ResearchLRCX	ACWI +0.07 points	0.29%	0.22%
Next PLCNXT.L	SPGM +0.08 points	0.02%	0.10%
Mitsubishi Electric	SPGM +0.07 points	0.06%	0.13%
Bank Hapoalim Bm	SPGM +0.07 points	0.03%	0.10%
Simon Property Group Reit IncSPG	SPGM +0.07 points	0.07%	0.14%
DeereDE	SPGM +0.06 points	0.17%	0.23%
Northrop Grumman CorpNOC	SPGM +0.07 points	0.07%	0.14%
KlaKLAC	ACWI +0.07 points	0.21%	0.14%

All 2,192 ACWI holdings⁠All 2,873 SPGM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ACWI vs SPGM Cost

Overpaying ACWI vs SPGM

$4,644

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ACWI 0.32%
$6,542
SPGM 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

ACWI 0.32%
SPGM 0.09%
Overpaying

Year by year

Year	ACWI	SPGM	Overpaying
10	$580	$165	$415
20	$2,250	$646	$1,604
30	$6,542	$1,898	$4,644

Expense ratio

0.32%ACWI
0.09%SPGM, cheaper

SPGM0.09%ACWI0.32%

0.06%0.50%

Middle half of MSCI ACWI / World funds
Median 0.26%

SPGM 2nd cheapest of 6 funds

ACWI 4th cheapest of 6 funds

ACWI vs SPGM Dividends

Last 12 months to Nov 13, 2026

Yield (12M): ACWI 1.44%; SPGM 1.81%, better
Payout (12M): ACWI $2.25; SPGM $1.54
Last payment: ACWI $1.01; SPGM $0.67
Ex-dividend: ACWI Jun 15, 2026; SPGM Jun 1, 2026
Paid on: ACWI Jun 18, 2026; SPGM Jun 5, 2026
Frequency: ACWI Twice a year; SPGM Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ACWITwice a year · 21 paymentsAll ACWI payments⁠

SPGMTwice a year · 19 paymentsAll SPGM payments⁠

ACWI vs SPGM Risk

Fall from peak · 5 years

ACWI
SPGM

Risk facts

VolatilityStd dev, 3 years: ACWI 11.4%, betterSPGM 11.5%
Return per unit of riskSharpe ratio, 3 years: ACWI 1.43SPGM 1.46, better
Worst fallMax drawdown, 5 years: ACWI −26.4%SPGM −25.9%, better
Market sensitivityBeta, 5 years: ACWI 0.93SPGM 0.93; Market = 1

ACWI and SPGM in the news

All news⁠

News
OECD raises 2026 growth to 2.9% on AI, lifts 2027 inflation to 3.6%
Sep 23, 2026ACWI
ETF Filings
Calamos to liquidate its Giannis Antetokounmpo sustainable ETF
Sep 11, 2026ACWI

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ACWI vs SPGM

In short

Stated mandate

Why people hold it

Worth knowing

How ACWI and SPGM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ACWI

Only in SPGM

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

OECD raises 2026 growth to 2.9% on AI, lifts 2027 inflation to 3.6%

Calamos to liquidate its Giannis Antetokounmpo sustainable ETF

How ACWI and SPGM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ACWI

Only in SPGM

Weight gaps