ACWI vs SPY
ACWI vs SPY
iShares MSCI ACWI ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ACWI delivered stronger 1-year returns. ACWI offers more diversification with 1314 holdings.
Side-by-Side Comparison
| Metric | ACWI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.32% | 0.09% | |
| AUM | $32.1B | $789.1B | |
| Dividend Yield | 1.43% | 1.01% | |
| Holdings | 2,280 | 505 | |
| YTD Return | +10.50% | +9.93% | |
| 1Y Return | +22.21% | +19.50% | |
| 3Y Return (annualized) | +18.24% | +19.33% | |
| 5Y Return (annualized) | +10.65% | +12.82% | |
| Volatility (annualized) | 16.6% | 15.3% | |
| Max Drawdown | -56.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 26, 2008 | Jan 22, 1993 |
ACWI vs SPY Performance
iShares MSCI ACWI ETF (ACWI) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ACWI returned +22.21% while SPY returned +19.50%. Year to date, ACWI is up 10.50% versus a gain of 9.93% for SPY.
Over three years, ACWI compounded at +18.24% per year against +19.33% for SPY; over five years the annualized figures are +10.65% and +12.82% respectively. Across the full 18-year window we track, SPY has the edge at +8.74% annualized vs +6.91%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ACWI has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.3% for ACWI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ACWI charges 0.32% per year while SPY charges 0.09%. On a $10,000 position that is $32 vs $9 annually, a gap of $23 per year that compounds over a long holding period. On income, ACWI currently yields 1.43% against 1.01% for SPY.
Holdings Overlap
ACWI and SPY share 380 holdings out of 1437 unique holdings combined, representing a 58.0% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in ACWI | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 4.40% | 7.31% | 2.91% |
| AAPL | 4.47% | 7.09% | 2.62% |
| MSFT | 2.66% | 4.43% | 1.77% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings ACWI shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, ACWI or SPY?
ACWI has an expense ratio of 0.32% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, ACWI or SPY?
Over the past year ACWI returned +22.21% vs +19.50% for SPY, so ACWI leads on 1-year performance. Over the longest common window we track (18 years), ACWI annualized +6.91% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, ACWI or SPY?
ACWI has been the more volatile fund at 16.6% annualized versus 15.3% for SPY. Worst drawdown: ACWI -56.3% vs SPY -56.5%.
Should I hold both ACWI and SPY?
ACWI and SPY have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between ACWI and SPY?
ACWI and SPY share 380 common holdings with a 58.0% weight overlap. Combined, they hold 1437 unique securities.
Which pays a higher dividend, ACWI or SPY?
ACWI yields 1.43% while SPY yields 1.01%, so ACWI currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.