IEUR vs SPDW: Grades, Fees and Holdings Compared

iShares Core MSCI Europe ETF

IEURBNYSE Arca

State Street SPDR Portfolio Developed World ex-US ETF

SPDWANYSE Arca

Overlap

47.6%by weight

Expense ratio

SPDW −0.07pt a year

IEUR0.10%SPDW0.03%

Avg volume · 30D

SPDW 2.8×the volume

IEUR1.06MSPDW2.99M

10Y return · a year

IEUR +0.1pt

IEUR+10.0%SPDW+9.9%

IEUR vs SPDW Performance

Nov 9, 2021 – Nov 9, 2026

+50.0%IEUR+53.3%SPDW

Expense ratio: IEUR 0.10%; SPDW 0.03%, better
Fund size: IEUR $9.59B; SPDW $40.1B
1Y total return: IEUR +15.6%; SPDW +18.5%, better
Yield (12M): IEUR 3.13%, better; SPDW 3.05%
Holdings: IEUR 1019; SPDW 2447
Avg volume (30D): IEUR 1.06M sh; SPDW 2.99M sh, better
NAV per share: IEUR $74.15; SPDW $48.15
52W range

ETF.net Grade

Pillar letters and Scores for IEUR, SPDW, with each pillar’s weight
Pillar	IEUR	SPDW
Cost30% weight	C53	A90Higher
Mission25% weight	A100	A100
Risk15% weight	C44	C50Higher
Tradability15% weight	B67Higher	B60
Holdings10% weight	C45	A90Higher
Durability5% weight	B65	A76Higher

Rank among Developed International Core funds

How we build Categories ›

Same Category. IEUR 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 IEUR 8th of 20 funds in the Developed International Core Category.

Rank 1AIDEViShares Core MSCI International Developed Markets ETFScore 82
Rank 2ASPDWState Street SPDR Portfolio Developed World ex-US ETFScore 81
Rank 3AVEAVanguard FTSE Developed Markets ETFScore 80
Rank 7AVGKVanguard FTSE Europe ETFScore 69
Rank 8BIEURiShares Core MSCI Europe ETFScore 65
Rank 9BBBINJPMorgan BetaBuilders International Equity ETFScore 61

Our read on each fund

ETF.net Research

IEURBiShares Core MSCI Europe ETF

SPDWAState Street SPDR Portfolio Developed World ex-US ETF

In short

IEUR Europe in one line item: developed markets from London to Zurich, blue chips down to small caps, roughly a thousand stocks for 0.10% a year. No Japan, no Canada, no US filler.

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

IEUR The fund seeks to track an index representing large-, mid-, and small-cap equities from developed European markets.

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

IEUR Charges 0.10% a year, comfortably below the typical fee among developed-international index funds.
Reaches past the blue chips. The MSCI Europe IMI benchmark spans large-, mid- and small-cap developed Europe, about 1,000 names, so you own the continent's second tier too.ishares.com
Hugs its index about as closely as an index fund can, which is the whole job here. One of the stronger implementations in its peer group.
A multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part.

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

IEUR Europe only. It is a slice, not a full international sleeve: no Japan, Canada or Australia the way broader developed ex-US funds like VEA or SCHF carry them.
VGK covers developed Europe for 0.06%. Pennies a year, but pennies compound.
No currency hedge. Holdings earn in euros, pounds and francs, so exchange-rate moves land in your dollar result alongside the stocks themselves.ishares.com

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 IEUR profile⁠

Full SPDW profile⁠

IEUR vs SPDW Holdings

How IEUR and SPDW differ

Overlap by weight

47.6%

Shared holdings make up 94.7% of IEUR and 47.8% of SPDW.

Level by level

Holdings744 in both47.6%
Countryby domicile47.6%
Sector11 Sectors90.1%
Asset classStocks100%

Sector

Sector weights in IEUR and SPDW, widest gap first
Sector	Gap	IEUR	SPDW
Technology	SPDW +4.8 points	8.0%	12.8%
Health Care	IEUR +4.7 points	13.6%	8.9%
Consumer Staples	IEUR +2.5 points	8.7%	6.2%
Consumer Discretionary	SPDW +1.9 points	6.7%	8.6%
Materials	SPDW +1.6 points	5.7%	7.3%
Utilities	IEUR +1.3 points	4.7%	3.4%
Real Estate	SPDW +0.9 points	1.4%	2.3%
Industrials	IEUR +0.9 points	18.4%	17.5%
Financials	SPDW +0.7 points	23.7%	24.4%
Energy	IEUR +0.4 points	5.5%	5.1%
Communication	SPDW +0.2 points	3.4%	3.6%

Country, concentration and asset class

Country by domicile

Country weights in IEUR and SPDW, widest gap first
Country	Gap	IEUR	SPDW
Japan	SPDW +21.3 points	0.0%	21.3%
United Kingdom	IEUR +12.7 points	23.8%	11.1%
Canada	SPDW +11.2 points	0.0%	11.2%
France	IEUR +7.9 points	14.2%	6.3%
Switzerland	IEUR +7.5 points	15.0%	7.5%
Germany	IEUR +7.1 points	13.5%	6.4%
South Korea	SPDW +7.0 points	0.0%	7.0%
Australia	SPDW +5.8 points	0.0%	5.8%
Other countries (22)	IEUR +10.2 points	33.5%	23.3%

Outside the US: IEUR 100% developed, 0% emerging. SPDW 91% developed, 9% emerging.

Concentration

Weight in the 10 largest Holdings

IEUR19.3%
SPDW11.8%

Securities held

IEUR1,010
SPDW2,427

Asset class

IEUR: Stocks
SPDW: Stocks

Holdings

Only in IEUR266
In both744
Only in SPDW1,683

Only in IEUR

266 securities, 4.9% of IEUR by weight

Dhl AG0.39%
Ferrari0.33%
Assicurazioni Generali0.23%
Swedbank0.22%
Swiss Life Holding AG0.21%
Stmicroelectronics0.17%
Intercontinental Hotels Group PLC0.17%
Michelin0.15%
Upm-Kymmene0.09%
Ryanair Holdings PLC0.08%
Stellantis0.06%
Hennes & Mauritz0.05%
Millicom International Cellular0.05%
Securitas B0.05%
International Airlines Group0.04%
Lion Finance Group PLC0.04%
Delivery Hero0.04%
Metlen Energy & Metals PLC0.04%
Financiere De Tubize SA0.03%
Octave Intelligence Sdr PLC0.03%
Davide Campari Milano NV0.03%
Aeroports De Paris SA0.03%
Koninklijke Vopak0.03%
Bam Groep Koninklijke NV0.03%
Rosebank Industries PLC0.02%
Arcadis NV0.02%
Qinetiq Group PLC0.02%
Cvc Capital Partners PLC0.02%
Sparebank Smns0.02%
Pan African Resources PLC0.02%
Sweco Class B0.02%
Azelis Group NV0.02%
Sopra Steria Group0.02%
Tbc Bank Group PLC0.02%
Osb Group PLC0.02%
Morgan Sindall Group PLC0.02%
Soitec SA0.02%
Softcat PLC0.02%
Harbour Energy PLC0.02%
Emmi AG0.02%
K+s N AG0.02%
Sonae SA0.02%
Koninklijke Heijmans Dutch Certifi0.02%
Clas Ohlson0.02%
Watches of Switzerland Group PLC0.02%
Addlife Class B0.02%
Wienerberger AG0.02%
Tkh Group0.02%
Vidrala0.02%
Tieto0.02%

Only in SPDW

1,683 securities, 52.1% of SPDW by weight

Samsung Electr Gdr Reg’s2.06%
Sk Hynix Inc1.52%
Royal Bank of Canada0.88%
Toyota Motor Corp0.80%
Mitsubishi Ufj Financial Gro0.77%
Toronto Dominion Bank0.64%
Bhp Group Ltd0.63%
Commonwealth Bank of Austral0.60%
Shopify Inc Class A0.57%
Sony Group Corp0.52%
Recruit Holdings Co Ltd0.50%
Sumitomo Mitsui Financial Gr0.46%
Advantest Corp0.43%
Hitachi Ltd0.41%
Mitsubishi Corp0.40%
Tokyo Electron Ltd0.39%
Bank of Montreal0.38%
Bank of Nova Scotia0.37%
Aia Group Ltd0.36%
Dbs Group Holdings Ltd0.35%
Mizuho Financial Group Inc0.35%
Tokio Marine Holdings Inc0.34%
Can Imperial Bk of Commerce0.34%
Enbridge Inc0.33%
Agnico Eagle Mines Ltd0.32%
Fast Retailing Co Ltd0.32%
Canadian Natural Resources0.31%
Itochu Corp0.31%
Brookfield Corp0.29%
Softbank Group Corp0.28%
Mitsui & Co Ltd0.28%
Samsung Electronics Pref0.27%
Canadian Pacific Kansas City0.27%
Westpac Banking Corp0.27%
National Australia Bank Ltd0.27%
Oversea Chinese Banking Corp0.27%
Keyence Corp0.27%
Anz Group Holdings Ltd0.26%
Suncor Energy Inc0.26%
Canadian Natl Railway Co0.24%
Manulife Financial Corp0.22%
Barrick Mining Corp0.21%
Shin Etsu Chemical Co Ltd0.21%
Csl Ltd0.21%
Takeda Pharmaceutical Co Ltd0.21%
Tc Energy Corp0.20%
Wesfarmers Ltd0.20%
Nintendo Co Ltd0.20%
Macquarie Group Ltd0.19%
Murata Manufacturing Co Ltd0.19%

Weight gaps

The 100 widest of 744 Holdings in both funds.

Holding weights in IEUR and SPDW, widest gap first
Holding	Gap	IEUR	SPDW
Asml Holding	IEUR +1.89 points	3.62%	1.73%
Roche Ps Par AG	IEUR +1.14 points	2.18%	1.04%
Hsbc Holdings PLCHSBA.L	IEUR +1.02 points	1.95%	0.93%
Novartis AG	IEUR +1.01 points	1.94%	0.93%
ShellSHEL.L	IEUR +0.97 points	1.87%	0.90%
Astrazeneca PLCAZN.L	IEUR +0.93 points	1.83%	0.90%
Nestle SA	IEUR +0.91 points	1.76%	0.85%
Sap	IEUR +0.80 points	1.55%	0.75%
Siemens N AG	IEUR +0.72 points	1.39%	0.67%
Allianz	IEUR +0.65 points	1.24%	0.59%
Banco Santander	IEUR +0.55 points	1.11%	0.56%
Totalenergies	IEUR +0.54 points	1.12%	0.58%
Iberdrola	IEUR +0.52 points	1.02%	0.50%
Ubs Group AG	IEUR +0.50 points	0.98%	0.48%
Schneider Electric	IEUR +0.46 points	0.91%	0.45%
Unilever PLCULVR.L	IEUR +0.46 points	0.92%	0.46%
Banco Bilbao Vizcaya Argentaria	IEUR +0.46 points	0.92%	0.46%
Rolls-Royce Holdings PLCRR.L	IEUR +0.45 points	0.92%	0.47%
Novo Nordisk Class B	IEUR +0.44 points	0.84%	0.40%
Lair Liquide Societe Anonyme Pour	IEUR +0.43 points	0.85%	0.42%
Airbus Group	IEUR +0.43 points	0.85%	0.42%
Loreal SA	IEUR +0.42 points	0.78%	0.36%
Abb Ltd	IEUR +0.42 points	0.83%	0.41%
British American TobaccoBATS.L	IEUR +0.40 points	0.79%	0.39%
Safran SA	IEUR +0.39 points	0.74%	0.35%
Compagnie Financiere Richemont SA	IEUR +0.38 points	0.73%	0.35%
Zurich Insurance Group AG	IEUR +0.38 points	0.74%	0.36%
Siemens Energy N AG	IEUR +0.38 points	0.67%	0.29%
Lvmh	IEUR +0.37 points	0.73%	0.36%
Bp PLCBP.L	IEUR +0.36 points	0.76%	0.40%
Nordea Bank	IEUR +0.36 points	0.36%	<0.01%
GlaxosmithklineGSK.L	IEUR +0.34 points	0.66%	0.32%
Sanofi SA	IEUR +0.34 points	0.66%	0.32%
Bnp Paribas SA	IEUR +0.33 points	0.66%	0.33%
Deutsche Telekom N AG	IEUR +0.33 points	0.64%	0.31%
Unicredit	IEUR +0.31 points	0.75%	0.43%
Relx PLCREL.L	IEUR +0.30 points	0.46%	0.16%
Ing Groep	IEUR +0.30 points	0.60%	0.30%
Rio TintoRIO.L	IEUR +0.29 points	0.58%	0.29%
Spotify TechnologySPOT	IEUR +0.28 points	0.58%	0.30%
Intesa Sanpaolo	IEUR +0.28 points	0.63%	0.35%
National Grid PLCNG.L	IEUR +0.28 points	0.54%	0.26%
Enel	IEUR +0.27 points	0.53%	0.26%
Muenchener Rueckversicherungs-Gese	IEUR +0.27 points	0.53%	0.26%
Barclays PLCBARC.L	IEUR +0.26 points	0.50%	0.24%
Investor Class B	IEUR +0.24 points	0.49%	0.25%
Industria De Diseno Textil SA	IEUR +0.24 points	0.47%	0.23%
Axa SA	IEUR +0.24 points	0.51%	0.27%
Bae Systems PLCBA.L	IEUR +0.23 points	0.47%	0.24%
Anheuser-Busch Inbev SA	IEUR +0.23 points	0.49%	0.26%
Infineon Technologies AG	IEUR +0.22 points	0.43%	0.21%
Essilorluxottica SA	IEUR +0.22 points	0.41%	0.19%
Lloyds Banking Group PLCLLOY.L	IEUR +0.22 points	0.49%	0.27%
Deutsche Boerse AG	IEUR +0.21 points	0.42%	0.21%
Bayer AG	IEUR +0.22 points	0.40%	0.18%
Natwest Group PLCNWG.L	IEUR +0.21 points	0.41%	0.20%
Argenx	IEUR +0.20 points	0.37%	0.17%
Diageo PLCDGE.L	IEUR +0.19 points	0.36%	0.17%
Compass Group PLCCPG.L	IEUR +0.20 points	0.37%	0.17%
Lonza Group AG	IEUR +0.19 points	0.37%	0.18%
London Stock Exchange Group PLCLSEG.L	IEUR +0.18 points	0.36%	0.18%
Glencore PLCGLEN.L	IEUR +0.18 points	0.40%	0.22%
Basf N	IEUR +0.18 points	0.34%	0.16%
Vinci SA	IEUR +0.18 points	0.38%	0.20%
Swiss Re AG	IEUR +0.18 points	0.35%	0.17%
Hermes International	IEUR +0.18 points	0.34%	0.16%
Deutsche Bank AG	IEUR +0.17 points	0.39%	0.22%
Givaudan SA	IEUR +0.17 points	0.30%	0.13%
E.on N	IEUR +0.17 points	0.31%	0.14%
Volvo Class B	IEUR +0.17 points	0.32%	0.15%
Atlas Copco Class A	IEUR +0.17 points	0.31%	0.14%
Standard Chartered PLCSTAN.L	IEUR +0.16 points	0.32%	0.16%
Prosus NV Class N	IEUR +0.16 points	0.33%	0.17%
Engie SA	IEUR +0.16 points	0.31%	0.15%
Holcim Ltd AG	IEUR +0.16 points	0.30%	0.14%
Danone SA	IEUR +0.16 points	0.31%	0.15%
Galderma Group N AG	IEUR +0.15 points	0.28%	0.13%
Reckitt Benckiser Group PLCRKT.L	IEUR +0.15 points	0.31%	0.16%
Rheinmetall AG	IEUR +0.15 points	0.28%	0.13%
Anglo American PLCAAL.L	IEUR +0.15 points	0.34%	0.19%
Caixabank SA	IEUR +0.14 points	0.30%	0.16%
Tesco PLCTSCO.L	IEUR +0.14 points	0.30%	0.16%
Dsv	IEUR +0.14 points	0.27%	0.13%
Rwe AG	IEUR +0.14 points	0.27%	0.13%
Societe Generale SA	IEUR +0.14 points	0.30%	0.16%
Sandoz Group AG	IEUR +0.13 points	0.28%	0.15%
Assa Abloy B	IEUR +0.14 points	0.26%	0.12%
Sse PLCSSE.L	IEUR +0.13 points	0.28%	0.15%
Haleon PLCHLN.L	IEUR +0.13 points	0.26%	0.13%
Eni	IEUR +0.13 points	0.33%	0.20%
Legrand SA	IEUR +0.12 points	0.24%	0.12%
Alcon AG	IEUR +0.12 points	0.24%	0.12%
Asm International NV	IEUR +0.12 points	0.22%	0.10%
Erste Group Bank AG	IEUR +0.11 points	0.25%	0.14%
Koninklijke Ahold Delhaize	IEUR +0.11 points	0.22%	0.11%
Repsol	IEUR +0.11 points	0.24%	0.13%
3I Group Fund PLCIII.L	IEUR +0.11 points	0.21%	0.10%
Compagnie De Saint Gobain SA	IEUR +0.11 points	0.24%	0.13%
Nokia	IEUR +0.10 points	0.25%	0.15%
Orange SA	IEUR +0.10 points	0.20%	0.10%

All 1,010 IEUR 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.

IEUR vs SPDW Cost

Overpaying IEUR vs SPDW

$1,468

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

IEUR 0.10%
$2,106
SPDW 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IEUR 0.10%
SPDW 0.03%
Overpaying

Year by year

Year	IEUR	SPDW	Overpaying
10	$183	$55	$128
20	$717	$216	$501
30	$2,106	$638	$1,468

Expense ratio

0.10%IEUR
0.03%SPDW, cheaper

SPDW0.03%IEUR0.10%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

SPDW cheapest of 20 funds

IEUR 11th cheapest of 20 funds

IEUR vs SPDW Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IEUR 3.13%, better; SPDW 3.05%
Payout (12M): IEUR $2.39; SPDW $1.52
Last payment: IEUR $1.54; SPDW $0.72
Ex-dividend: IEUR Jun 15, 2026; SPDW Jun 22, 2026
Paid on: IEUR Jun 18, 2026; SPDW Jun 26, 2026
Frequency: IEUR Twice a year; SPDW Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

IEURTwice a year · 20 paymentsAll IEUR payments⁠

SPDWTwice a year · 19 paymentsAll SPDW payments⁠

IEUR vs SPDW Risk

Fall from peak · 5 years

IEUR
SPDW

Risk facts

VolatilityStd dev, 3 years: IEUR 13.0%SPDW 12.7%, better
Return per unit of riskSharpe ratio, 3 years: IEUR 1.10SPDW 1.27, better
Worst fallMax drawdown, 5 years: IEUR −32.5%SPDW −29.7%, better
Market sensitivityBeta, 5 years: IEUR 0.84SPDW 1.05; Market = 1

IEUR 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
Closing Bell
The 10-year yield climbs back to 5.01% two days after the Fed hike
Sep 18, 2026IEUR

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IEUR vs SPDW

In short

Stated mandate

Why people hold it

Worth knowing

How IEUR and SPDW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IEUR

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

The 10-year yield climbs back to 5.01% two days after the Fed hike

How IEUR and SPDW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IEUR

Only in SPDW

Weight gaps