SPDR® MSCI ACWI ex-US ETF

10-Year Study

CWI.US · · US · ETF

Executive Summary: SPDR® MSCI ACWI ex-US ETF has compounded at 9.6% annually over the last 10 years, with a maximum drawdown of 27.9% and an annualized volatility of 13.6%.

1Y CAGR
+29.9%
3Y CAGR
+19.8%
5Y CAGR
+8.2%
10Y CAGR
+9.6%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
27.9%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.43
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.62
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
14.7%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +32.8%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2022 · -15.4%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
80%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20265.15.5-8.17.0————————9.0%
20253.22.20.42.74.64.2-1.14.13.91.80.32.532.8%
2024-1.73.43.3-2.54.2-0.52.22.82.4-4.40.0-2.76.3%
20238.6-4.53.11.9-3.55.03.5-4.9-3.2-3.08.24.915.7%
2022-2.5-3.6-0.1-6.51.9-7.93.2-4.4-9.63.713.3-2.0-15.4%
20210.92.11.42.73.3-0.5-1.71.1-3.53.1-4.14.08.8%
2020-3.4-6.7-15.16.54.24.84.13.9-2.0-2.212.35.79.8%
20197.61.81.02.8-5.56.0-1.9-2.42.63.41.24.021.9%
20185.8-5.3-0.50.7-2.0-2.22.7-2.20.5-8.11.7-4.9-13.8%
20174.01.13.02.03.20.63.40.61.91.90.71.726.9%
2016———2.3-1.1-0.84.40.71.4-1.5-2.31.94.8%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 13.6%. The dominant macroeconomic risk driver is VEA.US, accounting for 72.7% of variance. Idiosyncratic stock-specific factors contribute 0.2%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0110227.166171058632
2016-05-0110110.339689533143
2016-06-0110026.589424602282
2016-07-0110467.819731408277
2016-08-0110543.54178842782
2016-09-0110693.89406619097
2016-10-0110530.37552745326
2016-11-0110290.043095420067
2016-12-0110480.472187076513
2017-01-0110903.141277191538
2017-02-0111026.32609938279
2017-03-0111352.464017572142
2017-04-0111580.465122253549
2017-05-0111951.561004746276
2017-06-0112020.732044110186
2017-07-0112435.372926313894
2017-08-0112512.893301905577
2017-09-0112752.262348989409
2017-10-0112988.227435918845
2017-11-0113079.235200801535
2017-12-0113298.116261295689
2018-01-0114063.621942055608
2018-02-0113311.732101913283
2018-03-0113246.992633316419
2018-04-0113335.624048657362
2018-05-0113062.857656662447
2018-06-0112775.704716090455
2018-07-0113124.257390768204
2018-08-0112830.938786520319
2018-09-0112893.045002922268
2018-10-0111850.855164706712
2018-11-0112054.450517337717
2018-12-0111459.207069961016
2019-01-0112327.21690933263
2019-02-0112544.23542559136
2019-03-0112673.714362785082
2019-04-0113030.744825017182
2019-05-0112320.216312033963
2019-06-0113053.54493548532
2019-07-0112807.881773399014
2019-08-0112505.314673637291
2019-09-0112836.397967900013
2019-10-0113274.224314551608
2019-11-0113437.100596656413
2019-12-0113971.136986917232
2020-01-0113494.06875999512
2020-02-0112588.67958458841
2020-03-0110691.132362669476
2020-04-0111390.54983590343
2020-05-0111873.01301854195
2020-06-0112440.703656367012
2020-07-0112956.821086569771
2020-08-0113467.350884066256
2020-09-0113203.832987585178
2020-10-0112918.34991425874
2020-11-0114510.504107231169
2020-12-0115344.73124771196
2021-01-0115489.046313125798
2021-02-0115821.992151623946
2021-03-0116043.956043956043
2021-04-0116476.837014534267
2021-05-0117026.287563984817
2021-06-0116937.33502032742
2021-07-0116656.925774400934
2021-08-0116841.959910340975
2021-09-0116247.487170923758
2021-10-0116746.649026017818
2021-11-0116056.80117661415
2021-12-0116697.580619263845
2022-01-0116287.435533490472
2022-02-0115700.669873668121
2022-03-0115677.869763199978
2022-04-0114663.810765505683
2022-05-0114937.28363979679
2022-06-0113764.523028111573
2022-07-0114204.468821651755
2022-08-0113579.296215181663
2022-09-0112276.992440639431
2022-10-0112728.43462790862
2022-11-0114424.441718421847
2022-12-0114128.875215958791
2023-01-0115344.474345058798
2023-02-0114657.388199176627
2023-03-0115109.536868742012
2023-04-0115391.423304924181
2023-05-0114851.157025324179
2023-06-0115598.551069036164
2023-07-0116141.835954810824
2023-08-0115353.787066235927
2023-09-0114858.350299612719
2023-10-0114410.633200814382
2023-11-0115586.605095664125
2023-12-0116352.239227750624
2024-01-0116080.050866725325
2024-02-0116630.400575461943
2024-03-0117174.64884618596
2024-04-0116751.337499438025
2024-05-0117458.91163190988
2024-06-0117370.5371192221
2024-07-0117744.844284879353
2024-08-0118241.82246742153
2024-09-0118677.465141521247
2024-10-0117849.146762063185
2024-11-0117855.248200075785
2024-12-0117378.179973153674
2025-01-0117931.740965054818
2025-02-0118317.351847451206
2025-03-0118398.211957533993
2025-04-0118901.99806038497
2025-05-0119772.833828941366
2025-06-0120603.657009267765
2025-07-0120376.555063872423
2025-08-0121209.240788434243
2025-09-0122029.338282991117
2025-10-0122426.766687432966
2025-11-0122498.249850675333
2025-12-0123069.85825396112
2026-01-0124251.610458507006
2026-02-0125574.659122292087
2026-03-0123500.170198007723
2026-04-0125137.92461191643
Annual Return Matrix
YearAnnual Return
20170.26884705420941035
2018-0.1382834346761458
20190.21920625935287896
20200.09831656951620915
20210.08816377098514572
2022-0.1538369816488001
20230.1573631288979398
20240.06274007682458382
20250.3275186636115013
20260.08964365256124718
Total Factor Risk
0.13554885261401461
VTI.US Exposure
-0.0755137008313831
VEA.US Exposure
0.7273068014951276
VWO.US Exposure
0.2467505506787052
QQQ.US Exposure
0.02342303132836764
VTV.US Exposure
0.0582441260838581
IJR.US Exposure
-0.0037388559068987563
QUAL.US Exposure
0.029828596418806377
SHV.US Exposure
0.011969461136042648
TLT.US Exposure
0.008660915421262348
LQD.US Exposure
-0.0021244248701099097
HYG.US Exposure
-0.009493230746104862
GLD.US Exposure
-0.00219283022954992
USO.US Exposure
-0.0012008820203188015
VNQ.US Exposure
-0.021537231452677594
BTC-USD.CC Exposure
0.0008954422217208287
CPER.US Exposure
0.0007581140069194187
VIX.INDX Exposure
0.007070123822701157
UUP.US Exposure
0.0025641062529256553
TIP.US Exposure
-0.0035576848969216617
Idiosyncratic Exposure
0.00188757208752797
Value Score
44.4
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
32
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
13.6%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →13.9x
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →2.67%
Market Cap$75.6B
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+3.2%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+10.8%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
2.2% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
0.99
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is SPDR® MSCI ACWI ex-US ETF a high-risk investment?

SPDR® MSCI ACWI ex-US ETF (CWI.US) has an annualized volatility of 13.6% and experienced a maximum drawdown of 27.9% over the last 10 years. Its primary macro risk driver is VEA.US.

What is the 10-year return of CWI.US?

Over the past 10 years, CWI.US has generated a Compound Annual Growth Rate (CAGR) of 9.6%. It has had a positive return in 80% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

Run a Full Backtest on SPDR® MSCI ACWI ex-US ETF

stresstest.pro lets you simulate DCA vs Lump Sum, Monte Carlo projections, portfolio optimisation, and more — all in seconds.

Start a Free Backtest