SCHF vs SPDW: Grades, Fees and Holdings Compared

Schwab International Equity ETF

SCHFANYSE Arca

State Street SPDR Portfolio Developed World ex-US ETF

SPDWANYSE Arca

Overlap

58.0%by weight

Expense ratio

SCHF0.03%SPDW0.03%

Avg volume · 30D

SCHF 2.9×the volume

SCHF8.2MSPDW2.8M

10Y return · a year

SCHF +0.1pt

SCHF+9.9%SPDW+9.8%

SCHF vs SPDW Performance

Oct 29, 2021 – Oct 30, 2026

+57.5%SCHF+54.5%SPDW

Expense ratio: SCHF 0.03%; SPDW 0.03%
Fund size: SCHF $67.7B; SPDW $41.4B
1Y total return: SCHF +17.5%, better; SPDW +17.0%
Yield (12M): SCHF 3.12%, better; SPDW 3.07%
Holdings: SCHF 1433; SPDW 2444
Avg volume (30D): SCHF 8.2M sh, better; SPDW 2.8M sh
NAV per share: SCHF $27.08; SPDW $49.93
52W range

ETF.net Grade

Pillar letters and Scores for SCHF, SPDW, with each pillar’s weight
Pillar	SCHF	SPDW
Cost30% weight	A90	A90
Mission25% weight	A100	A100
Risk15% weight	C43	C43
Tradability15% weight	B58	B66Higher
Holdings10% weight	B57	A87Higher
Durability5% weight	A71	A76Higher

Rank among Developed International Core funds

How we build Categories ›

Same Category. SCHF 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 SCHF 4th 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 4AIEFAiShares Core MSCI EAFE ETFScore 76
Rank 4ASCHFSchwab International Equity ETFScore 76
Rank 6ABKIEBNY Mellon International Equity ETFScore 72

Our read on each fund

ETF.net Research

SCHFASchwab International Equity ETF

SPDWAState Street SPDR Portfolio Developed World ex-US ETF

In short

SCHF Schwab's core answer to "everything outside the US": roughly 1,500 developed-market stocks for 0.03% a year, the floor for this category. Running since 2009 and one of the most heavily traded funds in its niche.

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

SCHF The fund seeks to track the total return of the FTSE Developed ex US Index as closely as possible before fees and expenses.

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

SCHF 0.03% a year is the cheapest tier in developed-international core, matched only by VEA and SPDW.
Tracks the FTSE Developed ex US Index tightly, one of the closest index fits in its peer group.
Roughly 1,500 stocks across Europe, Japan and the rest of the developed world ex-US, in one ticker.
A multi-billion-dollar fund that trades very actively, which helps keep bid-ask costs small. Live since 2009.

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

SCHF No currency hedge. The index holds foreign shares in dollars, so exchange-rate swings feed into your return alongside the stocks.
Developed markets only: no US names, and no emerging markets such as China, India or Brazil.
Weighted by market value, so Europe's and Japan's largest companies dominate the top of the book despite the wide holdings list.

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 SCHF profile⁠

Full SPDW profile⁠

SCHF vs SPDW Holdings

How SCHF and SPDW differ

Overlap by weight

58.0%

Shared holdings make up 63.6% of SCHF and 59.9% of SPDW.

Level by level

Holdings864 in both58.0%
Sector11 Sectors94.4%
Countryby domicile97.4%
Asset classEquity100%

Sector

Sector weights in SCHF and SPDW, widest gap first
Sector	More in SCHFMore in SPDW	SCHF	SPDW
Industrials	SPDW +3.5 points	14.2%	17.7%
Financials	SCHF +2.5 points	26.4%	23.9%
Technology	SCHF +2.3 points	17.1%	14.8%
Consumer Discretionary	SPDW +1.1 points	6.9%	8.0%
Energy	SCHF +0.6 points	6.1%	5.5%
Health Care	SPDW +0.5 points	8.0%	8.5%
Communication	SPDW +0.3 points	3.1%	3.4%
Real Estate	SPDW +0.3 points	1.9%	2.2%
Utilities	SCHF +0.1 points	3.4%	3.3%
Materials	SCHF +0.1 points	7.2%	7.1%
Consumer Staples	Same weight	5.8%	5.8%

Country, concentration and asset class

Country by domicile

Country weights in SCHF and SPDW, widest gap first
Country	More in SCHFMore in SPDW	SCHF	SPDW
United States	SPDW +0.8 points	0.8%	1.6%
Japan	SPDW +0.6 points	21.7%	22.3%
Other countries (31)	SCHF +1.4 points	77.5%	76.1%

Outside the US: SCHF 89% developed, 11% emerging. SPDW 90% developed, 10% emerging.

Concentration

Weight in the 10 largest Holdings

SCHF14.3%
SPDW12.6%

Securities held

SCHF1,421
SPDW2,416

Asset class

SCHF: Equity
SPDW: Equity

Holdings

Only in SCHF557
In both864
Only in SPDW1,552

Only in SCHF

557 securities, 36.4% of SCHF by weight

Samsung Electronics Ltd2.75%
Sk Hynix2.25%
Shell1.09%
Hsbc Holdings PLC1.02%
Astrazeneca PLC0.90%
Siemens N AG0.76%
Iberdrola0.56%
Rolls-Royce Holdings PLC0.49%
Unilever PLC0.45%
Bp PLC0.45%
Novo Nordisk Class B0.43%
British American Tobacco0.42%
Unicredit0.40%
Samsung Electronics Non Voting Pre0.38%
Intesa Sanpaolo0.35%
Glaxosmithkline0.33%
Bnp Paribas SA0.33%
Ing Groep0.32%
Rio Tinto0.29%
National Grid PLC0.29%
Bae Systems PLC0.28%
Infineon Technologies AG0.27%
Enel0.27%
Muenchener Rueckversicherungs-Gese0.27%
Barclays PLC0.27%
Lloyds Banking Group PLC0.27%
Investor Class B0.26%
Glencore PLC0.25%
Industria De Diseno Textil SA0.24%
Relx PLC0.23%
Natwest Group PLC0.23%
Deutsche Boerse AG0.22%
Sk Square0.22%
Dhl N AG0.21%
Deutsche Bank AG0.21%
London Stock Exchange Group PLC0.20%
Nordea Bank0.20%
Anglo American PLC0.20%
Eni0.19%
Rheinmetall AG0.18%
Samsung Electro Mechanics Ltd0.18%
Basf N0.18%
Bayer AG0.18%
Diageo PLC0.17%
Standard Chartered PLC0.17%
Volvo Class B0.17%
Hermes International0.17%
Atlas Copco Class A0.17%
Engie SA0.17%
E.on N0.16%

Only in SPDW

1,552 securities, 40.0% of SPDW by weight

Samsung Electr Gdr Reg’s2.39%
Sk Hynix Inc2.01%
Shell PLC0.95%
Hsbc Holdings PLC0.89%
Astrazeneca PLC0.82%
Siemens AG Reg0.68%
Iberdrola SA0.47%
Rolls Royce Holdings PLC0.46%
Unilever PLC0.43%
Bp PLC0.43%
Unicredit Spa0.41%
British American Tobacco PLC0.38%
Novo Nordisk A/S B0.37%
Samsung Electronics Pref0.33%
Intesa Sanpaolo0.33%
Bnp Paribas0.30%
Gsk PLC0.29%
Ing Groep NV0.29%
Rio Tinto PLC0.27%
Lloyds Banking Group PLC0.27%
Spotify Technology SA0.26%
Bae Systems PLC0.26%
National Grid PLC0.25%
Muenchener Rueckver AG Reg0.25%
Barclays PLC0.24%
Enel Spa0.24%
Investor Ab B Shs0.24%
Infineon Technologies AG0.24%
Glencore PLC0.23%
Industria De Diseno Textil0.21%
Eni Spa0.21%
Deutsche Bank AG Registered0.21%
Natwest Group PLC0.21%
Deutsche Boerse AG0.20%
Anglo American PLC0.19%
Sk Square Co Ltd0.19%
Nordea Bank Abp0.18%
Dhl AG0.18%
London Stock Exchange Group0.17%
Nokia Oyj0.17%
Rheinmetall AG0.16%
Samsung Electro Mechanics Co0.16%
Basf SE0.16%
Standard Chartered PLC0.15%
Bayer AG Reg0.15%
Kb Financial Group Inc0.15%
Prosus NV0.15%
Tesco PLC0.15%
Diageo PLC0.15%
Relx PLC0.15%

Weight gaps

The 100 widest of 864 Holdings in both funds.

Holding weights in SCHF and SPDW, widest gap first
Holding	More in SCHFMore in SPDW	SCHF	SPDW
Asml HoldingASML	SCHF +0.27 points	2.23%	1.96%
Roche Ps Par AG	SCHF +0.14 points	1.17%	1.03%
Novartis AG	SCHF +0.14 points	1.03%	0.89%
Royal Bank of Canada	SCHF +0.12 points	0.99%	0.87%
Nestle SA	SCHF +0.11 points	0.89%	0.78%
AllianzALV	SCHF +0.08 points	0.64%	0.56%
Shopify Subordinate Voting Class A	SCHF +0.08 points	0.70%	0.62%
Bhp Group Ltd	SCHF +0.09 points	0.71%	0.62%
Toronto Dominion	SCHF +0.08 points	0.72%	0.64%
Banco SantanderSAN	SCHF +0.09 points	0.90%	0.81%
Commonwealth Bank of Australia	SCHF +0.08 points	0.67%	0.59%
Schneider ElectricSU	SCHF +0.07 points	0.54%	0.47%
Siemens Energy N AGENR	SCHF +0.06 points	0.39%	0.33%
SapSAP	SCHF +0.06 points	0.78%	0.72%
Lair Liquide Societe Anonyme PourAI	SCHF +0.06 points	0.44%	0.38%
Safran SASAF	SCHF +0.05 points	0.37%	0.32%
TotalenergiesTTE	SCHF +0.05 points	0.65%	0.60%
Kioxia Holdings	SCHF +0.05 points	0.37%	0.32%
Ubs Group AG	SCHF +0.05 points	0.51%	0.46%
Bank of Montreal	SCHF +0.05 points	0.43%	0.38%
Loreal SAOR	SCHF +0.04 points	0.37%	0.33%
Enbridge	SCHF +0.05 points	0.38%	0.33%
EquinorEQNR	SPDW +0.04 points	0.10%	0.14%
Hitachi	SCHF +0.05 points	0.49%	0.44%
Banco Bilbao Vizcaya ArgentariaBBVA	SCHF +0.04 points	0.47%	0.43%
Commerzbank AGCBK	SPDW +0.05 points	0.09%	0.14%
Canadian Natural Resources Ltd	SCHF +0.05 points	0.39%	0.34%
Mitsubishi	SPDW +0.04 points	0.34%	0.38%
Compagnie Financiere Richemont SA	SCHF +0.04 points	0.36%	0.32%
Deutsche Telekom N AGDTE	SCHF +0.04 points	0.34%	0.30%
Abb Ltd	SCHF +0.04 points	0.47%	0.43%
Canadian Imperial Bank of Commerce	SCHF +0.04 points	0.37%	0.33%
Westpac Banking Corporation Corp	SCHF +0.04 points	0.31%	0.27%
Dbs Group Holdings Ltd	SCHF +0.04 points	0.40%	0.36%
Manulife Financial	SCHF +0.04 points	0.26%	0.22%
Suncor Energy Inc	SCHF +0.04 points	0.32%	0.28%
National Australia Bank	SCHF +0.04 points	0.31%	0.27%
Zurich Insurance Group AG	SCHF +0.04 points	0.38%	0.34%
LvmhMC	SCHF +0.03 points	0.36%	0.33%
Advantest	SCHF +0.03 points	0.58%	0.55%
Anz Group Holdings Ltd	SCHF +0.04 points	0.30%	0.26%
Daiwa Securities Group Inc	SPDW +0.03 points	0.05%	0.08%
Bank of Nova Scotia	SCHF +0.03 points	0.40%	0.37%
AirbusAIR	SCHF +0.03 points	0.44%	0.41%
Otsuka Holdings	SPDW +0.03 points	0.12%	0.15%
Imperial Oil Ltd	SPDW +0.03 points	0.07%	0.10%
Mizuho Financial Group	SCHF +0.03 points	0.40%	0.37%
Strauss GroupSTRS	SPDW +0.03 points	<0.01%	0.04%
Sony Group	SCHF +0.03 points	0.51%	0.48%
Ansell	SPDW +0.02 points	0.02%	0.04%
Tc Energy	SCHF +0.03 points	0.23%	0.20%
Poste ItalianePST	SCHF +0.03 points	0.07%	0.04%
Sumitomo Mitsui Financial Group	SCHF +0.03 points	0.51%	0.48%
Orange SAORA	SCHF +0.03 points	0.12%	0.09%
Canon	SPDW +0.03 points	0.08%	0.11%
Medipal Holdings Corp	SPDW +0.03 points	0.01%	0.04%
Compass Group PLCCPG	SCHF +0.02 points	0.19%	0.17%
Evolution	SPDW +0.03 points	0.03%	0.06%
ArgenxARGX	SCHF +0.02 points	0.19%	0.17%
Essilorluxottica SAEL	SCHF +0.03 points	0.20%	0.17%
Takeda Pharmaceutical	SCHF +0.03 points	0.23%	0.20%
Keyence	SCHF +0.03 points	0.31%	0.28%
Softbank Group Corp	SCHF +0.03 points	0.39%	0.36%
Mitsubishi Heavy Industries	SCHF +0.03 points	0.25%	0.22%
Wheaton Precious Metals	SCHF +0.02 points	0.19%	0.17%
Mitsui	SPDW +0.03 points	0.27%	0.30%
Csl	SCHF +0.03 points	0.23%	0.20%
Barrick Mining	SCHF +0.02 points	0.22%	0.20%
Swiss Re AG	SCHF +0.03 points	0.19%	0.16%
National Bank of Canada	SCHF +0.02 points	0.20%	0.18%
Agnico Eagle Mines	SCHF +0.03 points	0.31%	0.28%
Bluescope Steel	SPDW +0.02 points	0.04%	0.06%
Tokyo Electron	SCHF +0.02 points	0.48%	0.46%
Lonza Group AG	SCHF +0.03 points	0.19%	0.16%
Constellation Software	SCHF +0.02 points	0.16%	0.14%
Sumitomo	SPDW +0.03 points	0.15%	0.18%
Daiichi Life Group	SPDW +0.02 points	0.14%	0.16%
Teva Pharmaceutical IndustriesTEVA	SCHF +0.02 points	0.16%	0.14%
Wesfarmers	SCHF +0.02 points	0.20%	0.18%
Sino Land Ltd	SPDW +0.02 points	0.02%	0.04%
Anheuser-Busch Inbev SAABI	SCHF +0.02 points	0.26%	0.24%
Franco Nevada	SCHF +0.02 points	0.15%	0.13%
Softbank	SCHF +0.02 points	0.14%	0.12%
Brookfield Class A	SCHF +0.03 points	0.29%	0.26%
AgeasAGS	SPDW +0.02 points	0.04%	0.06%
Toray Industries	SPDW +0.02 points	0.04%	0.06%
Komatsu	SPDW +0.02 points	0.12%	0.14%
Holcim Ltd AG	SCHF +0.02 points	0.15%	0.13%
Sun Life Financial Inc	SCHF +0.02 points	0.16%	0.14%
Canadian Pacific Kansas City	SCHF +0.02 points	0.27%	0.25%
Woodside Energy Group Ltd	SCHF +0.02 points	0.15%	0.13%
Recruit Holdings Ltd	SCHF +0.02 points	0.55%	0.53%
Asm International NVASM	SCHF +0.02 points	0.14%	0.12%
Macquarie Group Ltd Def	SCHF +0.02 points	0.21%	0.19%
Waste Connections	SCHF +0.02 points	0.16%	0.14%
T&D Holdings	SPDW +0.02 points	0.05%	0.07%
Casio Computer Ltd	SPDW +0.02 points	<0.01%	0.03%
Fairfax Financial Holdings Sub Vot	SCHF +0.02 points	0.13%	0.11%
Aristocrat Leisure	SPDW +0.02 points	0.08%	0.10%
Galderma Group N AG	SCHF +0.01 points	0.14%	0.13%

All 1,441 SCHF 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.

SCHF vs SPDW Cost

Same expense ratio

$638

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

SCHF 0.03%
$638
SPDW 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SCHF 0.03%
SPDW 0.03%

Year by year

Year	SCHF	SPDW
10	$55	$55
20	$216	$216
30	$638	$638

Expense ratio

0.03%SCHF
0.03%SPDW

SCHF0.03%SPDW0.03%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

SCHF cheapest of 20 funds

SPDW cheapest of 20 funds

SCHF vs SPDW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SCHF 3.12%, better; SPDW 3.07%
Payout (12M): SCHF $0.84; SPDW $1.52
Last payment: SCHF $0.17; SPDW $0.72
Ex-dividend: SCHF Jun 24, 2026; SPDW Jun 22, 2026
Paid on: SCHF Jun 29, 2026; SPDW Jun 26, 2026
Frequency: SCHF Twice a year; SPDW Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

SCHFTwice a year · 18 paymentsAll SCHF payments⁠

SPDWTwice a year · 19 paymentsAll SPDW payments⁠

SCHF vs SPDW Risk

Fall from peak · 5 years

SCHF
SPDW

Risk facts

VolatilityStd dev, 3 years: SCHF 12.7%SPDW 12.7%
Return per unit of riskSharpe ratio, 3 years: SCHF 1.27SPDW 1.27
Worst fallMax drawdown, 5 years: SCHF −28.8%, betterSPDW −29.9%
Market sensitivityBeta, 5 years: SCHF 1.03SPDW 1.03; Market = 1

SCHF and SPDW in the news

All news⁠

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Updated Oct 2, 2026SCHFSPDW

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