Dividend comparison
EFA vs SPDW: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares MSCI EAFE ETF and State Street SPDR Portfolio Developed World ex-US ETF, side by side. Updated October 21, 2026.
EFA vs SPDW: key differences
The short answer, from the latest data on this page.
- Fees. SPDW is cheaper at 0.03% a year versus 0.32% for EFA. On $10,000 that is $29 a year less in fees.
- Income. EFA pays more income, yielding 3.24% over the last twelve months versus 3.06% for SPDW. That is about $19 more a year on $10,000. EFA pays quarterly, SPDW pays annual.
- Performance. Over the last 5 years, EFA returned 51.0% versus 50.0% for SPDW, with dividends reinvested. $10,000 would have grown to $15,095 in EFA and $15,005 in SPDW.
- Risk. Their worst declines over the last 5 years were similar: -29.3% for EFA and -29.8% for SPDW from peak to trough.
- Diversification. SPDW holds 2,437 positions and EFA holds 656.
- Dividend growth. EFA grew its yearly payout 7.3% a year over the last 4 years, versus 7.2% for SPDW.
Bottom line: SPDW has the edge on these figures, with lower fees and broader diversification. EFA does not lead on any of the measures compared here.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | EFA iShares MSCI EAFE ETF | SPDW State Street SPDR Portfolio Developed World ex-US ETF |
|---|---|---|
| Dividend yield (TTM) | 3.24% | 3.06% |
| Dividend / share (TTM) | $3.36 | $1.52 |
| Payout frequency | Quarterly | Annual |
| Last dividend | $1.6364 on Jun 18, 2026 | $0.7220 on Jun 26, 2026 |
| Ex-dividend date | Jun 15, 2026 | Jun 22, 2026 |
| Dividend growth (CAGR) | 7.3% over 4 yrs | 7.2% over 4 yrs |
| Price | $103.69 | $49.56 |
| Dividend growth streak | 5 years | 3 years |
| Beta | 0.78 | 1.03 |
| Max drawdown (5Y) | -29.3% | -29.8% |
| Market cap | $76.86B | $40.90B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.32% | 0.03% |
| Assets under management | $76.89B | $41.04B |
| Number of holdings | 656 | 2437 |
| Top 10 concentration | — | 12.1% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
EFA
$27.04/mo
$324 /yr at 3.24% yield
SPDW
$25.49/mo
$306 /yr at 3.06% yield
Dividend history
Total dividends paid per share in each calendar year. EFA pays quarterly; SPDW pays annual.
| Year | EFA | SPDW |
|---|---|---|
| 2025 | $3.2473 | $1.4658 |
| 2024 | $2.4500 | $1.0898 |
| 2023 | $2.2421 | $0.9343 |
| 2022 | $1.9291 | $0.9271 |
| 2021 | $2.4540 | $1.1080 |
Strategy: International equity
Funds that hold companies outside the United States, either across developed markets like Europe, Japan and Canada, across emerging markets like China, India and Taiwan, or both. Index providers disagree on edge cases such as whether South Korea is developed or emerging and whether small caps or Canada are included, which explains most of the gap between similar-looking funds. Dividend yields are usually higher than in the US market.
Returns are exposed to currency moves and to political and regulatory risk that US investors do not face at home, and emerging markets add wide swings.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $15,095 in EFA and $15,005 in SPDW.
| Period | EFA | SPDW |
|---|---|---|
| 1 month | -1.22% | -2.33% |
| 3 months | 1.09% | 0.36% |
| Year to date | 9.69% | 11.60% |
| 1 year | 12.55% | 13.33% |
| 3 years | 71.16% | 75.99% |
| 5 years | 50.95% | 50.05% |
- EFA
- SPDW
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- EFA
- SPDW
Top 10 holdings
Largest positions by portfolio weight.
SPDW2437 holdings total
Quick verdict
SPDW has the edge on these figures, with lower fees and broader diversification. EFA does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is EFA or SPDW better for dividend income?
It depends on your goals. EFA currently yields 3.24% Trailing Twelve Months (TTM) while SPDW yields 3.06%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between EFA and SPDW?
iShares MSCI EAFE ETF (EFA) is an ETF listed on AMEX. State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, EFA or SPDW?
SPDW has the lower expense ratio. EFA charges 0.32% a year and SPDW charges 0.03%, a difference of $29 a year on a $10,000 investment.
Which has performed better, EFA or SPDW?
Over the last 5 years, EFA has the higher total return with dividends reinvested: EFA returned 51.0% and SPDW returned 50.0%. Past performance does not predict future returns.
Which is riskier, EFA or SPDW?
Measured by the worst peak-to-trough decline over the last five years, SPDW has been riskier: EFA fell as much as 29.3% and SPDW as much as 29.8%. Their betas are 0.78 and 1.03.
How often do EFA and SPDW pay dividends?
EFA pays quarterly and SPDW pays annual.
How much income does $10,000 in EFA vs SPDW generate?
At current TTM yields, $10,000 in EFA would generate roughly $27.04 per month ($324 annually). The same amount in SPDW would produce about $25.49 per month ($306 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both EFA and SPDW?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare EFA vs SPDW with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how EFA and SPDW fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.