Dividend comparison
IEFA vs SPDW: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Core MSCI EAFE ETF and State Street SPDR Portfolio Developed World ex-US ETF, side by side. Updated October 21, 2026.
IEFA vs SPDW: key differences
The short answer, from the latest data on this page.
- Fees. SPDW is cheaper at 0.03% a year versus 0.07% for IEFA. On $10,000 that is $4 a year less in fees.
- Income. IEFA pays more income, yielding 3.40% over the last twelve months versus 3.06% for SPDW. That is about $34 more a year on $10,000. IEFA pays semi-annual, SPDW pays annual.
- Performance. Over the last 5 years, SPDW returned 50.0% versus 43.9% for IEFA, with dividends reinvested. $10,000 would have grown to $15,005 in SPDW and $14,389 in IEFA.
- Risk. Their worst declines over the last 5 years were similar: -30.0% for IEFA and -29.8% for SPDW from peak to trough.
- Diversification. IEFA holds 2,626 positions and SPDW holds 2,437. The ten largest positions make up 12.2% of IEFA and 12.1% of SPDW.
- Overlap. At least 16% of the two portfolios overlap by weight, across 39 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. IEFA grew its yearly payout 7.7% a year over the last 4 years, versus 7.2% for SPDW.
- Size. IEFA is the larger fund with $190.1 billion in assets, against $41.0 billion for SPDW.
Bottom line: IEFA fits better if you care most about more income today. SPDW fits better if you care most about lower fees and stronger 5-year returns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | IEFA iShares Core MSCI EAFE ETF | SPDW State Street SPDR Portfolio Developed World ex-US ETF |
|---|---|---|
| Dividend yield (TTM) | 3.40% | 3.06% |
| Dividend / share (TTM) | $3.29 | $1.52 |
| Payout frequency | Semi-annual | Annual |
| Last dividend | $1.5781 on Jun 18, 2026 | $0.7220 on Jun 26, 2026 |
| Ex-dividend date | Jun 15, 2026 | Jun 22, 2026 |
| Dividend growth (CAGR) | 7.7% over 4 yrs | 7.2% over 4 yrs |
| Price | $96.71 | $49.56 |
| Dividend growth streak | 5 years | 3 years |
| Beta | 0.89 | 1.03 |
| Max drawdown (5Y) | -30.0% | -29.8% |
| Market cap | $190.07B | $40.90B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.07% | 0.03% |
| Assets under management | $190.09B | $41.04B |
| Number of holdings | 2626 | 2437 |
| Top 10 concentration | 12.2% | 12.1% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
IEFA
$28.34/mo
$340 /yr at 3.40% yield
SPDW
$25.49/mo
$306 /yr at 3.06% yield
Dividend history
Total dividends paid per share in each calendar year. IEFA pays semi-annual; SPDW pays annual.
| Year | IEFA | SPDW |
|---|---|---|
| 2025 | $3.1771 | $1.4658 |
| 2024 | $2.4401 | $1.0898 |
| 2023 | $2.2518 | $0.9343 |
| 2022 | $1.7762 | $0.9271 |
| 2021 | $2.3656 | $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 $14,389 in IEFA and $15,005 in SPDW.
| Period | IEFA | SPDW |
|---|---|---|
| 1 month | -1.31% | -2.33% |
| 3 months | 0.48% | 0.36% |
| Year to date | 8.10% | 11.60% |
| 1 year | 8.87% | 13.33% |
| 3 years | 66.45% | 75.99% |
| 5 years | 43.89% | 50.05% |
- IEFA
- 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.
- IEFA
- SPDW
IEFA vs SPDW holdings overlap
At least 16% overlap by weight, with 39 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | IEFA weight | SPDW weight |
|---|---|---|
| ROP.SWROCHE PS PAR AG | 1.28% | 0.98% |
| NOVN.SWNOVARTIS AG | 1.10% | 0.84% |
| 8306.TMITSUBISHI UFJ FINANCIAL GROUP | 0.93% | 0.81% |
| NESN.SWNESTLE SA | 1.02% | 0.79% |
| 7203.TTOYOTA MOTOR | 0.73% | 0.72% |
| BHP.AXBHP GROUP LTD | 0.84% | 0.65% |
| CBA.AXCOMMONWEALTH BANK OF AUSTRALIA | 0.71% | 0.55% |
| 6098.TRECRUIT HOLDINGS LTD | 0.61% | 0.53% |
| 6857.TADVANTEST | 0.64% | 0.51% |
| 6501.THITACHI | 0.64% | 0.51% |
Quick verdict
IEFA fits better if you care most about more income today. SPDW fits better if you care most about lower fees and stronger 5-year returns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how IEFA vs SPDW fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is IEFA or SPDW better for dividend income?
It depends on your goals. IEFA currently yields 3.40% 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 IEFA and SPDW?
iShares Core MSCI EAFE ETF (IEFA) is an ETF listed on CBOE. 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, IEFA or SPDW?
SPDW has the lower expense ratio. IEFA charges 0.07% a year and SPDW charges 0.03%, a difference of $4 a year on a $10,000 investment.
Which has performed better, IEFA or SPDW?
Over the last 5 years, SPDW has the higher total return with dividends reinvested: IEFA returned 43.9% and SPDW returned 50.0%. Past performance does not predict future returns.
Which is riskier, IEFA or SPDW?
Measured by the worst peak-to-trough decline over the last five years, IEFA has been riskier: IEFA fell as much as 30.0% and SPDW as much as 29.8%. Their betas are 0.89 and 1.03.
How much do IEFA and SPDW overlap?
At least 16% of the two portfolios overlap by weight, across 39 shared holdings. The largest shared positions are ROP.SW, NOVN.SW, 8306.T. Holding both still adds meaningful diversification.
How often do IEFA and SPDW pay dividends?
IEFA pays semi-annual and SPDW pays annual.
How much income does $10,000 in IEFA vs SPDW generate?
At current TTM yields, $10,000 in IEFA would generate roughly $28.34 per month ($340 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 IEFA 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 IEFA vs SPDW with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how IEFA 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.