Dividend comparison
SPDW vs VEU: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street SPDR Portfolio Developed World ex-US ETF and Vanguard FTSE All-World ex-US ETF, side by side. Updated October 21, 2026.
SPDW vs VEU: key differences
The short answer, from the latest data on this page.
- Fees. SPDW is cheaper at 0.03% a year versus 0.04% for VEU. On $10,000 that is $1 a year less in fees.
- Income. SPDW pays more income, yielding 3.06% over the last twelve months versus 2.40% for VEU. That is about $66 more a year on $10,000. Both pay annual.
- Performance. Over the last 5 years, SPDW returned 50.0% versus 46.9% for VEU, with dividends reinvested. $10,000 would have grown to $15,005 in SPDW and $14,687 in VEU.
- Risk. Their worst declines over the last 5 years were similar: -29.8% for SPDW and -28.5% for VEU from peak to trough.
- Diversification. VEU holds 3,823 positions and SPDW holds 2,437. The ten largest positions make up 12.1% of SPDW and 14.8% of VEU.
- Overlap. At least 15% of the two portfolios overlap by weight, across 46 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. SPDW grew its yearly payout 7.2% a year over the last 4 years, versus 4.8% for VEU.
- Size. VEU is the larger fund with $95.7 billion in assets, against $41.0 billion for SPDW.
Bottom line: SPDW fits better if you care most about more income today, stronger 5-year returns and faster dividend growth. VEU fits better if you care most about broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SPDW State Street SPDR Portfolio Developed World ex-US ETF | VEU Vanguard FTSE All-World ex-US ETF |
|---|---|---|
| Dividend yield (TTM) | 3.06% | 2.40% |
| Dividend / share (TTM) | $1.52 | $1.96 |
| Payout frequency | Annual | Annual |
| Last dividend | $0.7220 on Jun 26, 2026 | $0.1968 on Sep 22, 2026 |
| Ex-dividend date | Jun 22, 2026 | Sep 18, 2026 |
| Dividend growth (CAGR) | 7.2% over 4 yrs | 4.8% over 4 yrs |
| Price | $49.56 | $81.85 |
| Dividend growth streak | 3 years | 1 year |
| Beta | 1.03 | 0.91 |
| Max drawdown (5Y) | -29.8% | -28.5% |
| Market cap | $40.90B | $95.88B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.03% | 0.04% |
| Assets under management | $41.04B | $95.70B |
| Number of holdings | 2437 | 3823 |
| Top 10 concentration | 12.1% | 14.8% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SPDW
$25.49/mo
$306 /yr at 3.06% yield
VEU
$19.96/mo
$240 /yr at 2.40% yield
Dividend history
Total dividends paid per share in each calendar year. SPDW pays annual; VEU pays annual.
| Year | SPDW | VEU |
|---|---|---|
| 2025 | $1.4658 | $2.2706 |
| 2024 | $1.0898 | $1.8615 |
| 2023 | $0.9343 | $1.8634 |
| 2022 | $0.9271 | $1.5639 |
| 2021 | $1.1080 | $1.8845 |
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 $15,005 in SPDW and $14,687 in VEU.
| Period | SPDW | VEU |
|---|---|---|
| 1 month | -2.33% | -2.40% |
| 3 months | 0.36% | 0.34% |
| Year to date | 11.60% | 11.27% |
| 1 year | 13.33% | 12.17% |
| 3 years | 75.99% | 73.74% |
| 5 years | 50.05% | 46.87% |
- SPDW
- VEU
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.
- SPDW
- VEU
SPDW vs VEU holdings overlap
At least 15% overlap by weight, with 46 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 | SPDW weight | VEU weight |
|---|---|---|
| ROP.SWROCHE HOLDING AG | 0.98% | 0.71% |
| RY.TOROYAL BANK OF CANADA | 0.83% | 0.67% |
| NOVN.SWNOVARTIS AG REG | 0.84% | 0.65% |
| 8306.TMITSUBISHI UFJ FINANCIAL GRO | 0.81% | 0.62% |
| NESN.SWNESTLE SA REG | 0.79% | 0.57% |
| BHP.AXBHP GROUP LTD | 0.65% | 0.53% |
| TD.TOTORONTO DOMINION BANK | 0.60% | 0.47% |
| 7203.TTOYOTA MOTOR CORP | 0.72% | 0.47% |
| SHOP.TOSHOPIFY INC CLASS A | 0.64% | 0.44% |
| CBA.AXCOMMONWEALTH BANK OF AUSTRAL | 0.55% | 0.43% |
Top 10 holdings
Largest positions by portfolio weight.
SPDW2437 holdings total
VEU3823 holdings total
| Name | Weight |
|---|---|
| 2330.TWTaiwan Semiconductor Manufacturing Co Ltd | 4.66% |
| 005930.KSSamsung Electronics Co Ltd | 2.22% |
| 000660.KSSK hynix Inc | 1.82% |
| ASML.ASASML Holding NV | 1.69% |
| 0700.HKTencent Holdings Ltd | 0.83% |
| HSBA.LHSBC Holdings PLC | 0.83% |
| ROP.SWRoche Holding AG | 0.71% |
| SHEL.LShell PLC | 0.68% |
| RY.TORoyal Bank of Canada | 0.67% |
| NOVN.SWNovartis AG | 0.65% |
Quick verdict
SPDW fits better if you care most about more income today, stronger 5-year returns and faster dividend growth. VEU fits better if you care most about broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SPDW vs VEU fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SPDW or VEU better for dividend income?
It depends on your goals. SPDW currently yields 3.06% Trailing Twelve Months (TTM) while VEU yields 2.40%. 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 SPDW and VEU?
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an ETF listed on AMEX. Vanguard FTSE All-World ex-US ETF (VEU) 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, SPDW or VEU?
SPDW has the lower expense ratio. SPDW charges 0.03% a year and VEU charges 0.04%, a difference of $1 a year on a $10,000 investment.
Which has performed better, SPDW or VEU?
Over the last 5 years, SPDW has the higher total return with dividends reinvested: SPDW returned 50.0% and VEU returned 46.9%. Past performance does not predict future returns.
Which is riskier, SPDW or VEU?
Measured by the worst peak-to-trough decline over the last five years, SPDW has been riskier: SPDW fell as much as 29.8% and VEU as much as 28.5%. Their betas are 1.03 and 0.91.
How much do SPDW and VEU overlap?
At least 15% of the two portfolios overlap by weight, across 46 shared holdings. The largest shared positions are ROP.SW, RY.TO, NOVN.SW. Holding both still adds meaningful diversification.
How often do SPDW and VEU pay dividends?
Both pay annual. The most recent payments were $0.7220 for SPDW and $0.1968 for VEU.
How much income does $10,000 in SPDW vs VEU generate?
At current TTM yields, $10,000 in SPDW would generate roughly $25.49 per month ($306 annually). The same amount in VEU would produce about $19.96 per month ($240 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPDW and VEU?
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 SPDW vs VEU with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPDW and VEU 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.