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EWX vs SPY

Comparison between STATE STREET(R) SPDR(R) S&P(R) EMERGING MARKETS SMALL CAP ETF (EWX, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed EWX, delivering a return of +12.4% compared to +5.5%

EWX vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
EWX
$733M
Winner
SPY
$781B
Expense Ratio
EWX
0.65%
Winner
SPY
0.09%
Max Drawdown
EWX
63.90%
Winner
SPY
56.47%
Sharpe Ratio
EWX
0.54
Winner
SPY
1.22
5Y Beta
Winner
EWX
0.66
SPY
1.00
P/E Ratio
EWX
N/A
SPY
28.78
Forward P/E
EWX
N/A
SPY
21.25
5Y Dividends CAGR
Winner
EWX
9.05%
SPY
6.00%
5Y EPS CAGR
EWX
N/A
SPY
25.62%
Debt to Equity
EWX
N/A
SPY
31.92%
P/S Ratio
EWX
N/A
SPY
3.76
P/B Ratio
EWX
N/A
SPY
5.64

EWX vs SPY - Holdings Comparison

EWX and SPY have 1 common holdings. Overlap is 0.00%

EWX's top 25 holdings weight is 6.38%. SPY's top 25 holdings weight is 51.74%.

RankEWXSPY
#1
n/a (n/a) - 1.21%
NVIDIA CORP (NVDA) - 7.89%
#2
n/a (n/a) - 0.98%
APPLE INC (AAPL) - 7.37%
#3
GULF NAVIGATION HOLDING PJSC (n/a) - 0.23%
MICROSOFT CORP (MSFT) - 4.50%
#4
PAN AFRICAN RESOURCES PLC (PAFRF) - 0.22%
AMAZON.COM INC (AMZN) - 3.82%
#5
INARI AMERTRON BHD (n/a) - 0.20%
ALPHABET INC CLASS A (GOOGL) - 3.33%
#6
REDEFINE PROPERTIES LTD (n/a) - 0.19%
BROADCOM INC (AVGO) - 2.86%
#7
ADVANCED ECHEM MATERIALS CO LTD (n/a) - 0.19%
ALPHABET INC CLASS C (GOOG) - 2.68%
#8
LINGBAO GOLD GROUP CO LTD CLASS H (n/a) - 0.19%
META PLATFORMS INC CLASS A (META) - 2.29%
#9
PRECISION TSUGAMI (CHINA) CORP LTD (n/a) - 0.18%
TESLA INC (TSLA) - 1.70%
#10
BRAVA ENERGIA SA ORDINARY SHARES (n/a) - 0.18%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
ORBIA ADVANCE CORP SAB DE CV (n/a) - 0.18%
JPMORGAN CHASE & CO (JPM) - 1.42%
#12
PIXART IMAGING INC (n/a) - 0.18%
ELI LILLY AND CO (LLY) - 1.40%
#13
n/a (n/a) - 0.18%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#14
PRIMAX ELECTRONICS LTD (n/a) - 0.18%
ADVANCED MICRO DEVICES INC (AMD) - 1.32%
#15
NETCARE LTD (n/a) - 0.18%
EXXONMOBIL HOLDINGS CORP (XOM) - 0.92%
#16
MOKINGRAN JEWELLERY GROUP CO LTD (n/a) - 0.18%
JOHNSON & JOHNSON (JNJ) - 0.91%
#17
MOTUS HOLDINGS LTD ORDINARY SHARES (n/a) - 0.18%
VISA INC CLASS A (V) - 0.90%
#18
CENTURY IRON AND STEEL INDUSTRIAL CO LTD (n/a) - 0.18%
WALMART INC (WMT) - 0.76%
#19
NATIONAL INDUSTRIES GROUP HOLDING SAK (n/a) - 0.17%
INTEL CORP (INTC) - 0.75%
#20
BLACK SESAME INTERNATIONAL HOLDING LTD (n/a) - 0.17%
APPLIED MATERIALS INC (AMAT) - 0.70%
#21
n/a (n/a) - 0.17%
CISCO SYSTEMS INC (CSCO) - 0.68%
#22
QISDA CORP (n/a) - 0.17%
MASTERCARD INC CLASS A (MA) - 0.66%
#23
WINWAY TECHNOLOGY CO LTD ORDINARY SHARES (n/a) - 0.17%
ABBVIE INC (ABBV) - 0.66%
#24
BIT DIGITAL INC ORDINARY SHARES (BTBT) - 0.16%
CATERPILLAR INC (CAT) - 0.65%
#25
n/a (n/a) - 0.16%
LAM RESEARCH CORP (LRCX) - 0.64%
Total Holdings2744505

EWX vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
EWX
-7.08%
Winner
SPY
+0.63%
3M
EWX
-4.10%
Winner
SPY
+4.46%
6M
EWX
+1.10%
Winner
SPY
+7.67%
1Y
EWX
+10.23%
Winner
SPY
+17.68%
5Y(CAGR)
EWX
+5.46%
Winner
SPY
+12.42%
10Y(CAGR)
EWX
+8.21%
Winner
SPY
+14.84%
Max(CAGR)
EWX
+4.18%
Winner
SPY
+8.44%

EWX vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearEWXSPY
2026+4.47%+8.63%
2025+16.17%+18.00%
2024+7.64%+25.59%
2023+17.12%+26.72%
2022-15.32%-18.64%
2021+16.66%+30.52%
2020+13.04%+17.28%
2019+14.58%+31.09%
2018-19.74%-5.24%
2017+32.53%+20.78%
2016+10.04%+13.59%
2015-11.76%+1.31%
2014+0.87%+14.56%
2013+0.15%+29.00%
2012+23.85%+14.17%
2011-30.79%+0.85%
2010+19.60%+13.14%
2009+92.49%+22.67%
2008-53.20%-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

EWX vs SPY Drawdown Comparison

The maximum drawdown for EWX was -63.90%, occurring on Nov 20, 2008. Recovery took 583 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current EWX drawdown is -10.03%. The current SPY drawdown is -2.57%.

RankEWXSPY
#1-63.90%
May 19, 2008 - Sep 13, 2010		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-42.99%
Jan 26, 2018 - Dec 28, 2020		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-34.12%
Jan 5, 2011 - Sep 5, 2014		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-31.87%
Sep 5, 2014 - Jul 14, 2017		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-24.67%
Jul 12, 2021 - Apr 9, 2024		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-21.36%
Oct 7, 2024 - Jul 3, 2025		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-10.68%
Jun 22, 2026 - Jul 20, 2026		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-9.20%
Jul 12, 2024 - Sep 24, 2024		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-7.98%
Feb 25, 2026 - Apr 13, 2026		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-6.48%
Nov 4, 2010 - Jan 3, 2011		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-5.86%
May 26, 2026 - Jun 18, 2026		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-5.85%
Apr 28, 2021 - May 28, 2021		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-4.99%
Sep 17, 2025 - Jan 9, 2026		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-4.85%
Apr 9, 2024 - May 2, 2024		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-4.38%
May 11, 2026 - May 26, 2026		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between EWX and SPY is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95
-101

Dividend Comparison (1999 - 2026)

EWX vs SPY dividend yield comparison.

YearEWXSPY
20260.83%0.50%
20252.91%1.07%
20242.90%1.21%
20232.32%1.40%
20223.00%1.65%
20212.77%1.20%
20202.24%1.52%
20192.73%1.75%
20183.26%2.04%
20172.30%1.80%
20162.46%2.03%
20153.04%2.06%
20142.74%1.87%
20132.33%1.81%
20122.27%2.18%
20115.58%2.05%
20103.03%1.80%
20091.79%1.95%
20080.85%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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