BBEU vs SPDW: Grades, Fees and Holdings Compared

JPMorgan BetaBuilders Europe ETF

BBEUBCboe

State Street SPDR Portfolio Developed World ex-US ETF

SPDWANYSE Arca

Overlap

6.9%by weight

Expense ratio

SPDW −0.06pt a year

BBEU0.09%SPDW0.03%

Avg volume · 30D

SPDW 9.7×the volume

BBEU289KSPDW2.8M

5Y return · a year

SPDW +0.3pt

BBEU+8.8%SPDW+9.1%

BBEU vs SPDW Performance

Oct 29, 2021 – Oct 30, 2026

+52.6%BBEU+54.5%SPDW

Expense ratio: BBEU 0.09%; SPDW 0.03%, better
Fund size: BBEU $9.04B; SPDW $41.4B
1Y total return: BBEU +12.0%; SPDW +17.0%, better
Yield (12M): BBEU 3.01%; SPDW 3.07%, better
Holdings: BBEU 347; SPDW 2444
Avg volume (30D): BBEU 289K sh; SPDW 2.8M sh, better
NAV per share: BBEU $76.24; SPDW $49.93
52W range

ETF.net Grade

Pillar letters and Scores for BBEU, SPDW, with each pillar’s weight
Pillar	BBEU	SPDW
Cost30% weight	C53	A90Higher
Mission25% weight	A100	A100
Risk15% weight	C44Higher	C43
Tradability15% weight	C40	B66Higher
Holdings10% weight	D29	A87Higher
Durability5% weight	C46	A76Higher

Rank among Developed International Core funds

How we build Categories ›

Same Category. BBEU and SPDW are both graded against the same 20 Developed International Core funds, so their Grades compare head to head.

Developed International Core⁠

Category · 20 funds

See all 20 ›

SPDW ranks 2nd and BBEU 11th of 20 funds in the Developed International Core Category.

Rank 1AIDEViShares Core MSCI International Developed Markets ETFScore 81
Rank 2ASPDWState Street SPDR Portfolio Developed World ex-US ETFScore 80
Rank 2AVEAVanguard FTSE Developed Markets ETFScore 80
Rank 10BEFAiShares MSCI EAFE ETFScore 60
Rank 11BBBEUJPMorgan BetaBuilders Europe ETFScore 58
Rank 11BFLEEFranklin FTSE Europe ETFScore 58

Our read on each fund

ETF.net Research

BBEUBJPMorgan BetaBuilders Europe ETF

SPDWAState Street SPDR Portfolio Developed World ex-US ETF

In short

BBEU Most "international" funds bundle Europe with Japan and the rest of Asia. BBEU carves out Europe alone: about 400 developed-Europe stocks, tracked by index, for 0.09% a year.

SPDW Developed markets outside the US, roughly 2,400 stocks deep, for three basis points. State Street's 2007-vintage international core: priced at the category floor and built wide rather than mega-cap-only.

Stated mandate

BBEU The Fund seeks to track the Morningstar Developed Europe Target Market Exposure Index before fees and expenses. It uses passive indexing to replicate the index as closely as possible.

SPDW The fund seeks to provide investment results that generally correspond, before fees and expenses, to the total return performance of the S&P Developed Ex-U.S. BMI Index.

Why people hold it

BBEU Charges 0.09% a year, half the 0.18% typical for its peer group.
Pure plumbing: it replicates a Morningstar developed-Europe index with no manager discretion, and hews to that stated mandate as closely as anything in its peer group.
A multi-billion-dollar J.P. Morgan fund running since 2018, with quarterly distributions.

SPDW 0.03% is the floor for this category. It matches VEA and SCHF penny for penny and sits far under what the typical developed-markets index fund charges.
Roughly 2,400 names across developed markets ex-US. The S&P Developed Ex-U.S. BMI is a broad-market index, so the sweep runs well past the household-name giants.
Tracking is among the tightest in its peer group, and it's a multi-billion-dollar fund that trades actively, which helps at the point of execution.
Trading since 2007 under one of the largest ETF issuers, a long operating history for a fund at this price point.

Worth knowing

BBEU Europe only. Broad developed-market peers like VEA, SCHF and SPDW also carry Japan, Canada and Australia; with BBEU you decide how Europe fits the rest.
VGK covers the same continent for 0.06%, so the cost edge holds against the category median more than against every Europe rival.
About 400 large and mid-size names means a narrower field than a global developed fund, and performance rides Europe's own economic cycle.

SPDW Developed markets only. No US stocks, no emerging markets, by mandate. This is one slice of a global allocation, not the whole map.
Plain index exposure to foreign equities, with no hedge or defensive screen in the mandate. Overseas market swings pass straight through.
Distributions arrive once or twice a year rather than quarterly or monthly, so the income rhythm is lumpier than some peers.

Full BBEU profile⁠

Full SPDW profile⁠

BBEU vs SPDW Holdings

How BBEU and SPDW differ

Overlap by weight

6.9%

Shared holdings make up 16.5% of BBEU and 7.0% of SPDW.

Level by level

Holdings45 in both6.9%
Countryby domicile48.6%
Sector11 Sectors88.4%
Asset classEquity100%

Sector

Sector weights in BBEU and SPDW, widest gap first
Sector	More in BBEUMore in SPDW	BBEU	SPDW
Technology	SPDW +5.2 points	9.6%	14.8%
Health Care	BBEU +4.3 points	12.8%	8.5%
Consumer Staples	BBEU +2.6 points	8.4%	5.8%
Consumer Discretionary	SPDW +2.3 points	5.7%	8.0%
Financials	BBEU +2.0 points	25.9%	23.9%
Real Estate	SPDW +1.8 points	0.4%	2.2%
Materials	SPDW +1.6 points	5.5%	7.1%
Utilities	BBEU +1.3 points	4.5%	3.3%
Industrials	BBEU +1.1 points	18.8%	17.7%
Communication	SPDW +0.8 points	2.6%	3.4%
Energy	BBEU +0.3 points	5.8%	5.5%

Country, concentration and asset class

Country by domicile

Country weights in BBEU and SPDW, widest gap first
Country	More in BBEUMore in SPDW	BBEU	SPDW
Japan	SPDW +22.3 points	0.0%	22.3%
United Kingdom	BBEU +11.6 points	22.3%	10.7%
Canada	SPDW +11.0 points	0.0%	11.0%
Switzerland	BBEU +8.3 points	15.5%	7.2%
South Korea	SPDW +8.2 points	0.0%	8.2%
Germany	BBEU +7.2 points	13.4%	6.2%
France	BBEU +6.8 points	12.8%	6.0%
Australia	SPDW +5.6 points	0.0%	5.6%
Other countries (24)	BBEU +13.2 points	36.0%	22.8%

Outside the US: BBEU 99% developed, 1% emerging. SPDW 90% developed, 10% emerging.

Concentration

Weight in the 10 largest Holdings

BBEU22.6%
SPDW12.6%

Securities held

BBEU341
SPDW2,416

Asset class

BBEU: Equity
SPDW: Equity

Holdings

Only in BBEU296
In both45
Only in SPDW2,371

Only in BBEU

296 securities, 82.9% of BBEU by weight

Asml Holding NV Common4.52%
Shell PLC2.35%
Hsbc Holdings PLC Common2.19%
Astrazeneca PLC Common2.16%
Sap SE Common Stock Eur1.68%
Siemens AG Common Stock1.58%
Totalenergies SE Common1.44%
Allianz SE Common Stock1.39%
Banco Santander SA Common1.24%
Iberdrola SA Common Stock1.13%
Schneider Electric SE1.08%
Unilever PLC Common1.05%
Rolls-Royce Holdings PLC1.02%
British American Tobacco0.99%
Bp PLC Common Stock Gbp0.97%
Banco Bilbao Vizcaya0.97%
Air Liquide SA Common0.96%
Novo Nordisk A/S Common0.94%
Airbus SE Common Stock0.94%
Unicredit Spa Common0.91%
L'oreal SA Common Stock0.88%
Siemens Energy AG Common0.85%
Lvmh Moet Hennessy Louis0.80%
Safran SA Common Stock0.79%
Investor Ab Common Stock0.77%
Intesa Sanpaolo Spa0.75%
Gsk PLC Common Stock Gbp0.75%
Deutsche Telekom AG0.74%
Sanofi SA Common Stock0.74%
Bnp Paribas SA Common0.72%
Ing Groep NV Common Stock0.68%
Rio Tinto PLC Common0.65%
National Grid PLC Common0.63%
Bae Systems PLC0.61%
Muenchener0.60%
Enel Spa Common Stock Eur0.59%
Axa SA Common Stock Eur0.58%
Barclays PLC Common Stock0.56%
Infineon Technologies AG0.55%
Lloyds Banking Group PLC0.54%
Atlas Copco Ab Common0.54%
Anheuser-Busch Inbev0.53%
Relx PLC Common Stock Gbp0.52%
Industria De Diseno0.52%
Glencore PLC Common0.49%
Deutsche Boerse AG0.48%
Natwest Group PLC Common0.46%
Dhl AG Common Stock Eur0.45%
Deutsche Bank AG Common0.45%
Essilorluxottica SA0.45%

Only in SPDW

2,371 securities, 92.9% of SPDW by weight

Samsung Electr Gdr Reg’s2.39%
Sk Hynix Inc2.01%
Asml Holding NV1.96%
Shell PLC0.95%
Hsbc Holdings PLC0.89%
Royal Bank of Canada0.87%
Astrazeneca PLC0.82%
Banco Santander SA0.81%
Mitsubishi Ufj Financial Gro0.80%
Sap SE0.72%
Toyota Motor Corp0.71%
Siemens AG Reg0.68%
Toronto Dominion Bank0.64%
Bhp Group Ltd0.62%
Shopify Inc Class A0.62%
Totalenergies SE0.60%
Commonwealth Bank of Austral0.59%
Allianz SE Reg0.56%
Advantest Corp0.55%
Recruit Holdings Co Ltd0.53%
Sumitomo Mitsui Financial Gr0.48%
Sony Group Corp0.48%
Iberdrola SA0.47%
Schneider Electric SE0.47%
Rolls Royce Holdings PLC0.46%
Tokyo Electron Ltd0.46%
Hitachi Ltd0.44%
Unilever PLC0.43%
Banco Bilbao Vizcaya Argenta0.43%
Bp PLC0.43%
Airbus SE0.41%
Unicredit Spa0.41%
Mitsubishi Corp0.38%
Air Liquide SA0.38%
Bank of Montreal0.38%
British American Tobacco PLC0.38%
Mizuho Financial Group Inc0.37%
Novo Nordisk A/S B0.37%
Bank of Nova Scotia0.37%
Softbank Group Corp0.36%
Dbs Group Holdings Ltd0.36%
Canadian Natural Resources0.34%
Can Imperial Bk of Commerce0.33%
Enbridge Inc0.33%
Samsung Electronics Pref0.33%
Lvmh Moet Hennessy Louis Vui0.33%
Siemens Energy AG0.33%
Intesa Sanpaolo0.33%
L Oreal0.33%
Tokio Marine Holdings Inc0.32%

Weight gaps

All 45 Holdings in both funds, largest gap first.

Holding weights in BBEU and SPDW, widest gap first
Holding	More in BBEUMore in SPDW	BBEU	SPDW
Roche Holding AG Common	BBEU +1.49 points	2.52%	1.03%
Novartis AG Common Stock	BBEU +1.40 points	2.29%	0.89%
Nestle SA Common Stock	BBEU +1.13 points	1.91%	0.78%
Ubs Group AG Common Stock	BBEU +0.59 points	1.05%	0.46%
Abb Ltd Common Stock Chf	BBEU +0.56 points	0.99%	0.43%
Zurich Insurance Group AG	BBEU +0.51 points	0.85%	0.34%
Cie Financiere Richemont	BBEU +0.48 points	0.80%	0.32%
Lonza Group AG Common	BBEU +0.25 points	0.41%	0.16%
Swiss Re AG Common Stock	BBEU +0.23 points	0.39%	0.16%
Holcim AG Common Stock	BBEU +0.18 points	0.31%	0.13%
Dsv A/S Common Stock Dkk	BBEU +0.18 points	0.30%	0.12%
Givaudan SA Common Stock	BBEU +0.17 points	0.29%	0.12%
Sandoz Group AG Common	BBEU +0.17 points	0.31%	0.14%
Sika AG Common Stock Chf	BBEU +0.15 points	0.26%	0.11%
Alcon AG Common Stock Chf	BBEU +0.15 points	0.26%	0.11%
Genmab A/S	BBEU +0.14 points	0.25%	0.11%
Galderma Group AG Common	BBEU +0.14 points	0.27%	0.13%
Sandvik Ab Common Stock	BBEU +0.14 points	0.28%	0.14%
Danske Bank A/S Common	BBEU +0.12 points	0.24%	0.12%
Eqt Ab Common Stock Sek	BBEU +0.12 points	0.17%	0.05%
Vestas Wind Systems A/S	BBEU +0.12 points	0.21%	0.09%
Swisscom AG Common Stock	BBEU +0.10 points	0.16%	0.06%
Sgs SA Common Stock Chf	BBEU +0.09 points	0.16%	0.07%
Geberit AG Common Stock	BBEU +0.09 points	0.17%	0.08%
Alfa Laval Ab Common	BBEU +0.07 points	0.12%	0.05%
Coca-Cola EuropacificCCEP	SPDW +0.07 points	<0.01%	0.08%
Partners Group Holding AG	BBEU +0.07 points	0.12%	0.05%
Roche Holding AG Common	BBEU +0.07 points	0.11%	0.04%
Boliden Ab Common Stock	BBEU +0.07 points	0.11%	0.04%
Schindler Holding AG	BBEU +0.06 points	0.11%	0.05%
Chocoladefabriken Lindt &	BBEU +0.05 points	0.08%	0.03%
Straumann Holding AG	BBEU +0.05 points	0.09%	0.04%
Biontech SE Adr USDBNTX	BBEU +0.05 points	0.07%	0.02%
Julius Baer Group Ltd	BBEU +0.05 points	0.12%	0.07%
Telia Co Ab Common Stock	BBEU +0.05 points	0.09%	0.04%
Chocoladefabriken Lindt &	BBEU +0.04 points	0.07%	0.03%
Kuehne & Nagel	BBEU +0.04 points	0.10%	0.06%
Indutrade Ab Common Stock	BBEU +0.03 points	0.05%	0.02%
Schindler Holding AG	BBEU +0.04 points	0.06%	0.02%
Ems-Chemie Holding AG	BBEU +0.03 points	0.05%	0.02%
Nordnet Ab Publ Common	BBEU +0.03 points	0.04%	<0.01%
Oersted As Common Stock	BBEU +0.03 points	0.07%	0.04%
Tryg A/S Common Stock Dkk	BBEU +0.02 points	0.05%	0.03%
Axfood Ab Common Stock	BBEU +0.01 points	0.02%	0.01%
Evolution Ab Common Stock	BBEU +0.01 points	0.07%	0.06%

All 352 BBEU holdings⁠All 2,436 SPDW 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.

BBEU vs SPDW Cost

Overpaying BBEU vs SPDW

$1,260

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

BBEU 0.09%
$1,898
SPDW 0.03%
$638

Amount$10,000

Years30 years

Cost over time

BBEU 0.09%
SPDW 0.03%
Overpaying

Year by year

Year	BBEU	SPDW	Overpaying
10	$165	$55	$110
20	$646	$216	$430
30	$1,898	$638	$1,260

Expense ratio

0.09%BBEU
0.03%SPDW, cheaper

SPDW0.03%BBEU0.09%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

SPDW cheapest of 20 funds

BBEU 9th cheapest of 20 funds

BBEU vs SPDW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BBEU 3.01%; SPDW 3.07%, better
Payout (12M): BBEU $2.29; SPDW $1.52
Last payment: BBEU $0.28; SPDW $0.72
Ex-dividend: BBEU Sep 22, 2026; SPDW Jun 22, 2026
Paid on: BBEU Sep 24, 2026; SPDW Jun 26, 2026
Frequency: BBEU Quarterly; SPDW Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

BBEUQuarterly · 32 paymentsAll BBEU payments⁠

SPDWTwice a year · 19 paymentsAll SPDW payments⁠

BBEU vs SPDW Risk

Fall from peak · 5 years

BBEU
SPDW

Risk facts

VolatilityStd dev, 3 years: BBEU 12.7%SPDW 12.7%
Return per unit of riskSharpe ratio, 3 years: BBEU 1.12SPDW 1.27, better
Worst fallMax drawdown, 5 years: BBEU −31.1%SPDW −29.9%, better
Market sensitivityBeta, 5 years: BBEU 0.84SPDW 1.03; Market = 1

BBEU and SPDW in the news

All news⁠

Best ETFs
Vanguard's total international fund is the one-fund pick, and Korea splits the rest
Updated Oct 2, 2026SPDW

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BBEU vs SPDW

In short

Stated mandate

Why people hold it

Worth knowing

How BBEU and SPDW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BBEU

Only in SPDW

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Vanguard's total international fund is the one-fund pick, and Korea splits the rest

How BBEU and SPDW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BBEU

Only in SPDW

Weight gaps