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CRBN vs SPGM

iShares Low Carbon Optimized MSCI ACWI ETF

CRBNBNYSE Arca

State Street SPDR Portfolio MSCI Global Stock Market ETF

SPGMANYSE Arca

Overlap

Expense ratio

SPGM −0.11pt a year

CRBN0.20%SPGM0.09%

Avg volume · 30D

SPGM 21.5×the volume

CRBN8.38KSPGM180K

10Y return · a year

SPGM +0.1pt

CRBN+12.3%SPGM+12.4%

CRBN vs SPGM Performance

Oct 22, 2021 – Oct 23, 2026

+61.3%CRBN+64.9%SPGM

Oct 22, 2021 to Oct 23, 2026. CRBN +61.3%. SPGM +64.9%. Use the arrow keys to read each point.−20%0%20%40%Oct 2021Apr 2024Oct 2026
Expense ratio
CRBN 0.20%
SPGM 0.09%, better
Fund size
CRBN $1.17B
SPGM $1.8B
1Y total return
CRBN +12.3%
SPGM +14.8%, better
Yield (12M)
CRBN 2.03%, better
SPGM 1.80%
Holdings
CRBN 1072
SPGM 2927
Avg volume (30D)
CRBN 8.38K sh
SPGM 180K sh, better
NAV per share
CRBN $251.75
SPGM $85.70
52W range

ETF.net Grade

CRBN: Cost 57, Risk 46, Mission 100, Tradability 30, Holdings 50, Durability 56. SPGM: Cost 74, Risk 50, Mission 100, Tradability 49, Holdings 71, Durability 54.
Pillar letters and Scores for CRBN, SPGM, with each pillar’s weight
PillarCRBNSPGM
Cost30% weightB57A74Higher
Mission25% weightA100A100
Risk15% weightC46C50Higher
Tradability15% weightD30C49Higher
Holdings10% weightC50A71Higher
Durability5% weightB56HigherC54

Rank among MSCI ACWI / World funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CRBN 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 CRBN 3rd of 6 funds in the MSCI ACWI / World Category.

  1. Rank 1AVTVanguard Total World Stock ETFScore 75
  2. Rank 2ASPGMState Street SPDR Portfolio MSCI Global Stock Market ETFScore 71
  3. Rank 3BACWIiShares MSCI ACWI ETFScore 61
  4. Rank 3BCRBNiShares Low Carbon Optimized MSCI ACWI ETFScore 61
  5. Rank 5BIOOiShares Global 100 ETFScore 56

Our read on each fund

ETF.net Research

CRBNBiShares Low Carbon Optimized MSCI ACWI ETF

SPGMAState Street SPDR Portfolio MSCI Global Stock Market ETF

In short

CRBN Keeps the whole world in the basket, then leans it away from carbon. CRBN tracks an MSCI ACWI index built for lower carbon exposure, with screens on thermal coal, oil sands and controversial weapons.

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

CRBN The fund seeks to track global equities through an index designed to have lower carbon exposure than the broad market, while applying screens for controversial weapons, oil sands, and thermal coal mining.

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

Why people hold it

  • CRBN Costs 0.20% a year, well under the 0.45% median for its index-wrapper cohort. Cheap for a screened, optimized mandate.
  • Not a niche slice. Roughly 1,100 stocks worldwide, so the carbon tilt sits on top of a whole-world equity core.
  • The rulebook is named out loud: the MSCI ACWI Low Carbon Target Index, plus stated exclusions. Portfolio and mandate line up tightly, top quartile among its peers.ishares.com
  • Trading since 2014, a long tenure for a climate-screened index fund, and a multi-billion-dollar fund today.
  • 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

  • CRBN Thinly traded next to the household-name global index funds, so bid-ask spreads and order type matter more here.
  • The carbon tilt carries a price. VT wraps global stocks for 0.06%, roughly a third of the cost.
  • Cash comes back once or twice a year, not quarterly or monthly.
  • 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 CRBN profile⁠

Full SPGM profile⁠

CRBN vs SPGM Holdings

Sectors

CRBNSPGM

  • Information TechnologyCRBN 31.4%SPGM —
  • FinancialsCRBN 18.9%SPGM 16.7%
  • IndustrialsCRBN 9.4%SPGM 11.7%
  • Health CareCRBN 9.1%SPGM 8.9%
  • CommunicationCRBN 8.1%SPGM 7.7%
  • Consumer DiscretionaryCRBN 8.0%SPGM 8.8%
  • Consumer StaplesCRBN 5.0%SPGM 4.8%
  • EnergyCRBN 3.0%SPGM 4.6%
  • MaterialsCRBN 2.9%SPGM 3.6%
  • UtilitiesCRBN 2.4%SPGM 2.1%
  • Real EstateCRBN 1.9%SPGM 1.5%
  • TechnologyCRBN —SPGM 29.6%

CRBN vs SPGM Cost

Expense ratio

  • 0.20%CRBN
  • 0.09%SPGM, cheaper
  • Middle half of MSCI ACWI / World funds
  • Median 0.26%

SPGM 2nd cheapest of 6 funds

CRBN 3rd cheapest of 6 funds

$2,257less in fees with SPGM over 30 years, on $10,000 invested

$0$1,000$2,000$3,000$4,000$5,000Start10 years20 years30 years

Assumes $10,000 invested once and 7% growth a year before fees.

CRBN vs SPGM Dividends

Last 12 months to Oct 23, 2026
Yield (12M)
CRBN 2.03%, better
SPGM 1.80%
Payout (12M)
CRBN $5.11
SPGM $1.54
Last payment
CRBN $1.73
SPGM $0.67
Ex-dividend
CRBN Jun 15, 2026
SPGM Jun 1, 2026
Paid on
CRBN Jun 18, 2026
SPGM Jun 5, 2026
Frequency
CRBN Twice a year
SPGM Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

CRBNTwice a year · 20 paymentsAll CRBN payments⁠
One bar per payment. 20 payments from 2017 to 2026 YTD. Jun 20, 2017 $1.16; Dec 19, 2017 $1.24; Jun 19, 2018 $1.30; Dec 18, 2018 $1.29; Jun 17, 2019 $1.40; Dec 16, 2019 $1.53; Jun 15, 2020 $1.04; Dec 14, 2020 $1.07; Jun 10, 2021 $1.16; Dec 13, 2021 $1.41; Dec 30, 2021 $0.17; Jun 9, 2022 $1.47; Dec 13, 2022 $1.22; Jun 7, 2023 $1.50; Dec 20, 2023 $1.84; Jun 11, 2024 $1.49; Dec 17, 2024 $2.26; Jun 16, 2025 $1.71; Dec 16, 2025 $3.38; Jun 15, 2026 $1.73. Use the arrow keys to read each point.$0$2.502017202020232026YTD
SPGMTwice a year · 19 paymentsAll SPGM payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.31; Dec 15, 2017 $0.59; Jun 1, 2018 $0.29; Dec 21, 2018 $0.37; Jun 3, 2019 $0.44; Dec 20, 2019 $0.61; Jun 1, 2020 $0.26; Dec 18, 2020 $0.45; Jun 1, 2021 $0.43; Dec 17, 2021 $0.69; Jun 1, 2022 $0.54; Dec 16, 2022 $0.57; Jun 1, 2023 $0.59; Dec 15, 2023 $0.57; Jun 3, 2024 $0.55; Dec 18, 2024 $0.71; Jun 2, 2025 $0.58; Nov 25, 2025 $0.87; Jun 1, 2026 $0.67. Use the arrow keys to read each point.$0$2.502017202020232026YTD

CRBN vs SPGM Risk

Fall from peak · 5 years

  • CRBN
  • SPGM
Oct 22, 2021 to Oct 23, 2026. Worst fall: CRBN −27.0% · Oct 2022. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
CRBN 11.8%SPGM 11.7%, better
Return per unit of riskSharpe ratio, 3 years
CRBN 1.37SPGM 1.39, better
Worst fallMax drawdown, 5 years
CRBN −27.0%SPGM −25.9%, better
Market sensitivityBeta, 5 years
CRBN 0.95SPGM 0.93

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