SPDW vs VEA: Grades, Fees and Holdings Compared

State Street SPDR Portfolio Developed World ex-US ETF

SPDWANYSE Arca

Vanguard FTSE Developed Markets ETF

VEAANYSE Arca

Overlap

43.6%by weight

Expense ratio

SPDW0.03%VEA0.03%

Avg volume · 30D

VEA 3.6×the volume

SPDW2.8MVEA10.1M

10Y return · a year

SPDW+9.8%VEA+9.8%

SPDW vs VEA Performance

Oct 29, 2021 – Oct 30, 2026

+54.5%SPDW+55.4%VEA

Expense ratio: SPDW 0.03%; VEA 0.03%
Fund size: SPDW $41.4B; VEA $314B
1Y total return: SPDW +17.0%, better; VEA +16.9%
Yield (12M): SPDW 3.07%, better; VEA 2.45%
Holdings: SPDW 2444; VEA 3914
Avg volume (30D): SPDW 2.8M sh; VEA 10.1M sh, better
NAV per share: SPDW $49.93; VEA $69.29
52W range

ETF.net Grade

Pillar letters and Scores for SPDW, VEA, with each pillar’s weight
Pillar	SPDW	VEA
Cost30% weight	A90	A90
Mission25% weight	A100	A100
Risk15% weight	C43	C43
Tradability15% weight	B66Higher	B58
Holdings10% weight	A87Higher	A84
Durability5% weight	A76	A91Higher

Rank among Developed International Core funds

How we build Categories ›

Same Category. SPDW and VEA 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 VEA 2nd 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

Our read on each fund

ETF.net Research

SPDWAState Street SPDR Portfolio Developed World ex-US ETF

VEAAVanguard FTSE Developed Markets ETF

In short

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.

VEA Everything developed outside the US in one line item: roughly 3,900 stocks across Canada, Europe and the Pacific, small caps included. Vanguard has run it since 2007 at three basis points.

Stated mandate

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.

VEA Seeks to track the FTSE Developed All Cap ex US Index through an indexing strategy investing substantially all assets in the index’s large-, mid-, and small-cap stocks across Canada, Europe, and the Pacific region.

Why people hold it

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.

VEA Charges 0.03% a year against a 0.18% median for its peer group. Low cost is the whole point of index exposure, and this sits at the cheap end of it.
The index reaches down to small caps and keeps Canada in, so you own about 3,900 companies across Canada, Europe and the Pacific, not just the mega-cap layer.vanguard.com
Tracks its FTSE benchmark closely and trades in heavy volume, which keeps the spread to get in or out slim, whether the order is small or institutional.
Live since 2007 and one of the largest international stock funds on the market. Distributions come quarterly.

Worth knowing

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.

VEA Developed markets only, and no US stocks. Emerging markets and the home market sit outside the mandate entirely.vanguard.com
The 0.03% fee is matched, not owned: SPDW and SCHF price the same and IDEV is a hair above. The separator here is index construction, not cost.
Plain index exposure, no buffer or downside protection. Foreign markets and the small-cap sleeve can swing hard, and the fund holds the full ride.

Full SPDW profile⁠

Full VEA profile⁠

SPDW vs VEA Holdings

How SPDW and VEA differ

Overlap by weight

43.6%

Shared holdings make up 48.9% of SPDW and 45.6% of VEA.

Level by level

Holdings1,196 in both43.6%
Countryby domicile96.1%
Sector11 Sectors96.8%
Asset classEquity100%

Sector

Sector weights in SPDW and VEA, widest gap first
Sector	More in SPDWMore in VEA	SPDW	VEA
Technology	VEA +2.1 points	14.8%	16.9%
Consumer Discretionary	SPDW +1.1 points	8.0%	6.9%
Health Care	SPDW +0.7 points	8.5%	7.8%
Energy	SPDW +0.6 points	5.5%	4.9%
Consumer Staples	SPDW +0.5 points	5.8%	5.3%
Financials	VEA +0.5 points	23.9%	24.4%
Materials	VEA +0.5 points	7.1%	7.6%
Industrials	SPDW +0.2 points	17.7%	17.5%
Utilities	SPDW +0.2 points	3.3%	3.1%
Real Estate	VEA +0.1 points	2.2%	2.3%
Communication	SPDW +0.1 points	3.4%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in SPDW and VEA, widest gap first
Country	More in SPDWMore in VEA	SPDW	VEA
United States	SPDW +1.6 points	1.6%	0.0%
South Korea	VEA +1.0 points	8.2%	9.2%
France	VEA +0.6 points	6.0%	6.6%
Switzerland	SPDW +0.6 points	7.2%	6.6%
Poland	VEA +0.5 points	0.0%	0.5%
Other countries (26)	Same weight	77.1%	77.1%

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

Concentration

Weight in the 10 largest Holdings

SPDW12.6%
VEA13.6%

Securities held

SPDW2,416
VEA3,890

Asset class

SPDW: Equity
VEA: Equity

Holdings

Only in SPDW1,220
In both1,196
Only in VEA2,694

Only in SPDW

1,220 securities, 51.1% 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%
Astrazeneca PLC0.82%
Banco Santander SA0.81%
Sap SE0.72%
Siemens AG Reg0.68%
Totalenergies SE0.60%
Allianz SE Reg0.56%
Iberdrola SA0.47%
Schneider Electric SE0.47%
Rolls Royce Holdings PLC0.46%
Unilever PLC0.43%
Banco Bilbao Vizcaya Argenta0.43%
Bp PLC0.43%
Airbus SE0.41%
Unicredit Spa0.41%
Air Liquide SA0.38%
British American Tobacco PLC0.38%
Novo Nordisk A/S B0.37%
Samsung Electronics Pref0.33%
Lvmh Moet Hennessy Louis Vui0.33%
Siemens Energy AG0.33%
Intesa Sanpaolo0.33%
L Oreal0.33%
Safran SA0.32%
Bnp Paribas0.30%
Deutsche Telekom AG Reg0.30%
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%
Axa SA0.25%
Muenchener Rueckver AG Reg0.25%
Barclays PLC0.24%
Enel Spa0.24%
Investor Ab B Shs0.24%
Anheuser Busch Inbev Sa/Nv0.24%
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%

Only in VEA

2,694 securities, 54.2% of VEA by weight

Samsung Electronics Co Ltd2.81%
SK hynix Inc2.30%
ASML Holding NV2.14%
SLBBH11421.07%
HSBC Holdings PLC1.05%
Shell PLC0.86%
AstraZeneca PLC0.75%
Siemens AG0.70%
Sap SE0.63%
Banco Santander SA0.62%
Allianz SE0.55%
Schneider Electric SE0.55%
TotalEnergies SE0.53%
Rolls-Royce Holdings PLC0.50%
Banco Bilbao Vizcaya Argentaria SA0.49%
Iberdrola SA0.48%
UniCredit SpA0.41%
Safran SA0.40%
Unilever PLC0.39%
Airbus SE0.39%
Siemens Energy AG0.38%
Novo Nordisk A/S0.37%
Bp PLC0.36%
Samsung Electronics-Pref0.35%
Intesa Sanpaolo SpA0.35%
British American Tobacco PLC0.34%
LVMH Moet Hennessy Louis Vuitton SE0.34%
BNP Paribas SA0.32%
ING Groep NV0.32%
Deutsche Telekom AG0.31%
Rio Tinto PLC0.30%
Gsk PLC0.30%
Sanofi SA0.27%
Infineon Technologies AG0.27%
Lloyds Banking Group PLC0.26%
Barclays PLC0.25%
Axa SA0.24%
BAE Systems PLC0.23%
National Grid PLC0.23%
Air Liquide SA0.23%
Enel SpA0.23%
SK Square Co Ltd0.23%
Glencore PLC0.23%
Investor AB0.23%
NatWest Group PLC0.22%
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen0.22%
Anheuser-Busch InBev SA/NV0.22%
Industria de Diseno Textil SA0.21%
L'Oreal SA0.20%
Nordea Bank Abp0.20%

Weight gaps

The 100 widest of 1,196 Holdings in both funds.

Holding weights in SPDW and VEA, widest gap first
Holding	More in SPDWMore in VEA	SPDW	VEA
Roche Holding AG	SPDW +0.13 points	1.03%	0.90%
Toyota Motor Corp	SPDW +0.11 points	0.71%	0.60%
Softbank Group Corp	VEA +0.11 points	0.36%	0.47%
Kioxia Holdings Corp	VEA +0.09 points	0.32%	0.41%
Recruit Holdings Co Ltd	SPDW +0.09 points	0.53%	0.44%
Mitsubishi Corp	SPDW +0.08 points	0.38%	0.30%
Novartis AG Reg	SPDW +0.07 points	0.89%	0.82%
Nestle SA Reg	SPDW +0.06 points	0.78%	0.72%
Mitsui & Co Ltd	SPDW +0.06 points	0.30%	0.24%
Shopify Inc Class A	SPDW +0.06 points	0.62%	0.56%
Tokyo Electron Ltd	VEA +0.05 points	0.46%	0.51%
Advantest Corp	SPDW +0.05 points	0.55%	0.50%
Commonwealth Bank of Austral	SPDW +0.05 points	0.59%	0.54%
Otsuka Holdings Co Ltd	SPDW +0.05 points	0.15%	0.10%
Canadian Natural Resources	SPDW +0.04 points	0.34%	0.30%
Fast Retailing Co Ltd	SPDW +0.05 points	0.30%	0.25%
Genmab A/S	SPDW +0.04 points	0.11%	0.07%
Bhp Group Ltd	VEA +0.05 points	0.62%	0.67%
Sony Group Corp	SPDW +0.05 points	0.48%	0.43%
Itochu Corp	SPDW +0.04 points	0.31%	0.27%
Imperial Oil Ltd	SPDW +0.04 points	0.10%	0.06%
Dollarama Inc	SPDW +0.04 points	0.15%	0.11%
Toronto Dominion Bank	SPDW +0.04 points	0.64%	0.60%
Canon Inc	SPDW +0.04 points	0.11%	0.07%
Daiwa Securities Group Inc	SPDW +0.03 points	0.08%	0.05%
Hoya Corp	SPDW +0.03 points	0.19%	0.16%
Flsmidth & Co A/S	SPDW +0.04 points	0.05%	0.01%
Canadian Natl Railway Co	SPDW +0.03 points	0.23%	0.20%
Sumitomo Corp	SPDW +0.04 points	0.18%	0.14%
Zurich Insurance Group AG	SPDW +0.03 points	0.34%	0.31%
Sompo Holdings Inc	SPDW +0.04 points	0.15%	0.11%
Loblaw Companies Ltd	SPDW +0.04 points	0.11%	0.07%
Fujikura Ltd	VEA +0.04 points	0.13%	0.17%
Tokio Marine Holdings Inc	SPDW +0.03 points	0.32%	0.29%
Aristocrat Leisure Ltd	SPDW +0.03 points	0.10%	0.07%
Panasonic Holdings Corp	VEA +0.03 points	0.17%	0.20%
Celestica Inc	VEA +0.03 points	0.11%	0.14%
Sandoz Group AG	SPDW +0.03 points	0.14%	0.11%
Evolution Ab	SPDW +0.04 points	0.06%	0.02%
Mizuho Financial Group Inc	VEA +0.03 points	0.37%	0.40%
Ansell Ltd	SPDW +0.03 points	0.04%	0.01%
Daiichi Life Group Inc	SPDW +0.03 points	0.16%	0.13%
Medipal Holdings Corp	SPDW +0.03 points	0.04%	0.01%
Bluescope Steel Ltd	SPDW +0.03 points	0.06%	0.03%
Aritzia Inc Subordinate Voti	SPDW +0.03 points	0.06%	0.03%
Cie Financiere Richemo A Reg	VEA +0.03 points	0.32%	0.35%
Hitachi Ltd	VEA +0.03 points	0.44%	0.47%
Power Corp of Canada	SPDW +0.03 points	0.13%	0.10%
Suncor Energy Inc	SPDW +0.03 points	0.28%	0.25%
Brookfield Corp	SPDW +0.02 points	0.26%	0.24%
Exchange Income Corp	SPDW +0.03 points	0.04%	<0.01%
Matsuya Co Ltd	SPDW +0.03 points	0.03%	<0.01%
Nintendo Co Ltd	SPDW +0.03 points	0.19%	0.16%
Kao Corp	SPDW +0.03 points	0.09%	0.06%
Sandvik Ab	SPDW +0.02 points	0.14%	0.12%
Bank of Iwate Ltd/The	SPDW +0.03 points	0.03%	<0.01%
Sumitomo Electric Industries	VEA +0.03 points	0.11%	0.14%
Nanto Bank Ltd/The	SPDW +0.02 points	0.03%	<0.01%
T+d Holdings Inc	SPDW +0.03 points	0.07%	0.04%
Shin Etsu Chemical Co Ltd	SPDW +0.02 points	0.23%	0.21%
Mitsubishi Heavy Industries	VEA +0.03 points	0.22%	0.25%
Bank of Nova Scotia	SPDW +0.02 points	0.37%	0.35%
Abb Ltd Reg	VEA +0.02 points	0.43%	0.45%
Sino Land Co	SPDW +0.02 points	0.04%	0.02%
Kuehne Nagel Intl AG Reg	SPDW +0.02 points	0.06%	0.04%
Wheaton Precious Metals Corp	VEA +0.02 points	0.17%	0.19%
Mitsubishi Ufj Financial Gro	SPDW +0.02 points	0.80%	0.78%
Nippon Yusen Kk	SPDW +0.02 points	0.08%	0.06%
Apa Group	SPDW +0.02 points	0.05%	0.03%
Central Japan Railway Co	SPDW +0.02 points	0.08%	0.06%
Tokyo Gas Co Ltd	SPDW +0.02 points	0.06%	0.04%
Can Imperial Bk of Commerce	SPDW +0.02 points	0.33%	0.31%
Oversea Chinese Banking Corp	SPDW +0.02 points	0.27%	0.25%
Musashino Bank Ltd/The	SPDW +0.02 points	0.03%	<0.01%
Feed One Co Ltd	SPDW +0.02 points	0.02%	<0.01%
Toray Industries Inc	SPDW +0.03 points	0.06%	0.03%
Kawasaki Kisen Kaisha Ltd	SPDW +0.02 points	0.04%	0.02%
Givaudan Reg	SPDW +0.02 points	0.12%	0.10%
Nomura Research Institute Lt	SPDW +0.02 points	0.06%	0.04%
Okinawa Financial Group Inc	SPDW +0.02 points	0.02%	<0.01%
Asics Corp	SPDW +0.01 points	0.07%	0.06%
Casio Computer Co Ltd	SPDW +0.02 points	0.03%	<0.01%
Astellas Pharma Inc	SPDW +0.02 points	0.10%	0.08%
Waste Connections Inc	SPDW +0.02 points	0.14%	0.12%
Alimentation Couche Tard Inc	SPDW +0.01 points	0.14%	0.13%
Takeda Pharmaceutical Co Ltd	SPDW +0.02 points	0.20%	0.18%
Ms+ad Insurance Group Holdin	SPDW +0.01 points	0.14%	0.13%
Insurance Australia Group	SPDW +0.02 points	0.06%	0.04%
Seven & I Holdings Co Ltd	SPDW +0.02 points	0.10%	0.08%
Cameco Corp	SPDW +0.02 points	0.14%	0.12%
Ichigo Office Reit Investmen	SPDW +0.02 points	0.02%	<0.01%
Secom Co Ltd	SPDW +0.02 points	0.07%	0.05%
Fujifilm Holdings Corp	SPDW +0.02 points	0.10%	0.08%
Dbs Group Holdings Ltd	VEA +0.02 points	0.36%	0.38%
Julius Baer Group Ltd	SPDW +0.01 points	0.07%	0.06%
Origin Energy Ltd	SPDW +0.02 points	0.06%	0.04%
Sulzer AG Reg	SPDW +0.02 points	0.03%	<0.01%
Aia Group Ltd	SPDW +0.01 points	0.31%	0.30%
Dsv A/S	SPDW +0.01 points	0.12%	0.11%
Baycurrent Inc	SPDW +0.02 points	0.04%	0.02%

All 2,436 SPDW holdings⁠All 3,873 VEA 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.

SPDW vs VEA Cost

Same expense ratio

$638

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

SPDW 0.03%
$638
VEA 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SPDW 0.03%
VEA 0.03%

Year by year

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

Expense ratio

0.03%SPDW
0.03%VEA

SPDW0.03%VEA0.03%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

SPDW cheapest of 20 funds

VEA cheapest of 20 funds

SPDW vs VEA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPDW 3.07%, better; VEA 2.45%
Payout (12M): SPDW $1.52; VEA $1.70
Last payment: SPDW $0.72; VEA $0.18
Ex-dividend: SPDW Jun 22, 2026; VEA Sep 18, 2026
Paid on: SPDW Jun 26, 2026; VEA Sep 22, 2026
Frequency: SPDW Twice a year; VEA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPDWTwice a year · 19 paymentsAll SPDW payments⁠

VEAQuarterly · 39 paymentsAll VEA payments⁠

SPDW vs VEA Risk

Fall from peak · 5 years

SPDW
VEA

Risk facts

VolatilityStd dev, 3 years: SPDW 12.7%, betterVEA 12.9%
Return per unit of riskSharpe ratio, 3 years: SPDW 1.27, betterVEA 1.25
Worst fallMax drawdown, 5 years: SPDW −29.9%VEA −29.4%, better
Market sensitivityBeta, 5 years: SPDW 1.03VEA 0.97; Market = 1

SPDW and VEA in the news

All news⁠

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Vanguard's total international fund is the one-fund pick, and Korea splits the rest
Updated Oct 2, 2026SPDWVEA
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Best international ETFs: one cheap fund, then the Korea choice
Updated Nov 2, 2026VEA
Head-to-Head
South Korea is the difference between VWO and IEMG
Oct 20, 2026VEA
Head-to-Head
VXUS already holds the stocks in VEA
Oct 19, 2026VEA
First-Year Review
Vanguard Emerging Markets ex-China returned 27.4%; iShares MSCI ex China returned 48.6%
Oct 1, 2026VEA
ETF Filings
Transamerica files TAVI, a Great Lakes EAFE ETF, as a $4.27 billion fund changes sub-adviser
Sep 22, 2026VEA

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SPDW vs VEA

In short

Stated mandate

Why people hold it