SPDR® S&P International Small Cap ETF

10-Year Study

GWX.US · · US · ETF

Executive Summary: SPDR® S&P International Small Cap ETF has compounded at 7.8% annually over the last 10 years, with a maximum drawdown of 34.8% and an annualized volatility of 16.1%.

1Y CAGR
+34.2%
3Y CAGR
+18.5%
5Y CAGR
+5.9%
10Y CAGR
+7.8%

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 →
34.8%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.30
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.40
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
16.7%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +35.9%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2022 · -20.0%
% 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.
20267.35.9-9.07.5————————11.1%
20252.40.60.14.96.55.50.34.92.8-0.71.72.435.9%
2024-3.31.64.1-3.44.4-1.74.10.72.5-5.40.4-3.10.2%
20238.6-3.90.90.5-3.33.04.2-3.5-5.0-4.68.07.111.0%
2022-6.8-0.10.0-7.60.6-10.26.7-4.3-11.83.012.4-1.2-20.0%
2021-0.63.03.12.82.3-0.70.41.9-2.82.1-6.24.49.7%
2020-5.4-9.8-16.310.87.71.93.76.50.5-2.912.77.413.4%
20196.92.1-0.51.9-5.74.2-2.0-2.42.63.92.24.218.2%
20185.0-4.9-0.10.6-0.3-3.10.3-0.2-0.0-11.01.3-7.4-19.0%
20174.32.31.82.02.21.53.10.21.61.62.22.828.9%
2016———3.00.9-1.95.3-0.93.5-3.1-2.01.35.8%

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 16.1%. The dominant macroeconomic risk driver is VEA.US, accounting for 65.6% of variance. Idiosyncratic stock-specific factors contribute 3.5%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0110297.518913359032
2016-05-0110388.504907379816
2016-06-0110191.152296999817
2016-07-0110729.714401068954
2016-08-0110628.058100300887
2016-09-0110999.74045199804
2016-10-0110659.588376094669
2016-11-0110442.192892229903
2016-12-0110579.12849548675
2017-01-0111035.163947821238
2017-02-0111290.530343084009
2017-03-0111498.457131321675
2017-04-0111731.90613975218
2017-05-0111994.578330625705
2017-06-0112169.677103059785
2017-07-0112549.049765926155
2017-08-0112574.620050563795
2017-09-0112775.24104319071
2017-10-0112975.862035817625
2017-11-0113267.70934468936
2017-12-0113634.537187460948
2018-01-0114310.900054793467
2018-02-0113615.31140953791
2018-03-0113599.978851644286
2018-04-0113676.833898891637
2018-05-0113638.382343045556
2018-06-0113217.914579868688
2018-07-0113264.152575773598
2018-08-0113237.188422236537
2018-09-0113233.343266651927
2018-10-0111773.674142289983
2018-11-0111931.565843482944
2018-12-0111048.381670143328
2019-01-0111812.125698136062
2019-02-0112057.44662443404
2019-03-0111998.087035096658
2019-04-0112227.59475905294
2019-05-0111531.140953790844
2019-06-0112014.28475299682
2019-07-0111773.626077845176
2019-08-0111492.833591279188
2019-09-0111789.679602410914
2019-10-0112251.002143674239
2019-11-0112525.546252415239
2019-12-0113056.898689763237
2020-01-0112349.774577753851
2020-02-0111143.020561969488
2020-03-019331.615830505541
2020-04-0110335.682082536265
2020-05-0111130.716064098744
2020-06-0111342.872523479482
2020-07-0111761.7541599777
2020-08-0112529.006892441386
2020-09-0112591.202284022418
2020-10-0112226.248954598326
2020-11-0113781.470195237775
2020-12-0114806.973189652688
2021-01-0114718.67880454113
2021-02-0115162.409759004873
2021-03-0115626.520038067043
2021-04-0116061.40713468619
2021-05-0116437.75173752968
2021-06-0116323.983196670095
2021-07-0116395.74341276784
2021-08-0116709.65230180626
2021-09-0116250.108145000817
2021-10-0116586.799580878043
2021-11-0115551.251117498341
2021-12-0116237.611389350843
2022-01-0115128.428196525903
2022-02-0115115.546925317467
2022-03-0115115.546925317467
2022-04-0113971.997654455094
2022-05-0114053.659146183203
2022-06-0112616.147730877561
2022-07-0113466.551952858394
2022-08-0112890.884097397793
2022-09-0111368.923452565201
2022-10-0111709.075528468571
2022-11-0113156.920799407848
2022-12-0112994.511040402971
2023-01-0114107.923904370982
2023-02-0113555.66343353168
2023-03-0113683.755178943928
2023-04-0113746.142828304191
2023-05-0113294.961884895267
2023-06-0113691.781941226796
2023-07-0114270.670114489507
2023-08-0113768.060215136455
2023-09-0113076.989627692812
2023-10-0112471.137300893039
2023-11-0113467.41711286493
2023-12-0114421.68860007498
2024-01-0113949.45542984033
2024-02-0114171.945744854702
2024-03-0114748.622953656262
2024-04-0114249.137243215706
2024-05-0114871.235352360445
2024-06-0114618.127986003636
2024-07-0115221.432897228606
2024-08-0115331.98112028608
2024-09-0115718.851836542435
2024-10-0114862.199236736617
2024-11-0114917.473348265356
2024-12-0114452.017264748576
2025-01-0114799.52320070751
2025-02-0114892.76822363425
2025-03-0114906.80304151807
2025-04-0115643.727109308164
2025-05-0116660.530439212896
2025-06-0117580.003268382246
2025-07-0117627.58706874177
2025-08-0118487.84450190816
2025-09-0118998.48116354408
2025-10-0118861.353302508003
2025-11-0119182.712180491606
2025-12-0119639.132148384553
2026-01-0121066.646159170217
2026-02-0122316.321724167767
2026-03-0120297.615042248646
2026-04-0121826.06438713026
Annual Return Matrix
YearAnnual Return
20170.28881478217016565
2018-0.18967680983671287
20190.1817928706289753
20200.1340344703188614
20210.09661921996981171
2022-0.19972767368202948
20230.10982926215804345
20240.0021029898449920204
20250.35891978182785667
20260.11135584924131181
Total Factor Risk
0.1607331945458589
VTI.US Exposure
0.322977726641258
VEA.US Exposure
0.6558920400715355
VWO.US Exposure
-0.012510945208268743
QQQ.US Exposure
-0.08260301001493231
VTV.US Exposure
-0.16185929833243778
IJR.US Exposure
0.05642970099102257
QUAL.US Exposure
-0.08221044495057615
SHV.US Exposure
0.16564422865815565
TLT.US Exposure
-0.006317715172938851
LQD.US Exposure
0.01583035836531868
HYG.US Exposure
-0.0038175387078093325
GLD.US Exposure
0.022763689419479826
USO.US Exposure
-0.006382517452864447
VNQ.US Exposure
0.04644167464810983
BTC-USD.CC Exposure
-0.0051001133704381045
CPER.US Exposure
-0.0022186349215435786
VIX.INDX Exposure
0.013606352728945914
UUP.US Exposure
0.008885452699156611
TIP.US Exposure
0.019720938422795493
Idiosyncratic Exposure
0.034828055486031496
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
16.1%

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 →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
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 →
+3.3%
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 →
+11.9%
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 →
1.10
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is SPDR® S&P International Small Cap ETF a high-risk investment?

SPDR® S&P International Small Cap ETF (GWX.US) has an annualized volatility of 16.1% and experienced a maximum drawdown of 34.8% over the last 10 years. Its primary macro risk driver is VEA.US.

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

Over the past 10 years, GWX.US has generated a Compound Annual Growth Rate (CAGR) of 7.8%. 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.

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