ITM vs CWI

Comparison between VANECK INTERMEDIATE MUNI ETF (ITM, ETF) and SPDR(R) MSCI ACWI EX-US ETF (CWI, ETF).

5-Year PerformanceCWI has outperformed ITM, delivering a return of +9.0% compared to +0.4%

ITM vs CWI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ITM(ETF)	CWI(ETF)
Net Assets	$2.20B	$2.30B
Expense Ratio	0.18%	0.30%
Max Drawdown	24.75%	62.39%
Sharpe Ratio	0.90	1.88
5Y Beta	0.02	0.75
5Y Dividends CAGR	7.01%	16.94%

Net Assets

ITM

$2.20B

Winner

CWI

$2.30B

Expense Ratio

Winner

ITM

0.18%

CWI

0.30%

Max Drawdown

Winner

ITM

24.75%

CWI

62.39%

Sharpe Ratio

ITM

0.90

Winner

CWI

1.88

5Y Beta

Winner

ITM

0.02

CWI

0.75

5Y Dividends CAGR

ITM

7.01%

Winner

CWI

16.94%

ITM vs CWI - Historical Returns

Returns include dividend reinvestment.

Period	ITM	CWI
1 month	+0.42%	+4.67%
3 months	-0.85%	+3.49%
6 months	+1.01%	+16.31%
1 year	+6.54%	+35.69%
5 years(CAGR)	+0.44%	+8.97%
10 years(CAGR)	+1.89%	+10.09%
Max(CAGR)	+3.32%	+5.44%

ITM

+0.42%

Winner

CWI

+4.67%

ITM

-0.85%

Winner

CWI

+3.49%

ITM

+1.01%

Winner

CWI

+16.31%

ITM

+6.54%

Winner

CWI

+35.69%

5Y(CAGR)

ITM

+0.44%

Winner

CWI

+8.97%

10Y(CAGR)

ITM

+1.89%

Winner

CWI

+10.09%

Max(CAGR)

ITM

+3.32%

Winner

CWI

+5.44%

ITM vs CWI - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	ITM	CWI
2026	+0.15%	+10.60%
2025	+4.97%	+32.76%
2024	+0.74%	+7.58%
2023	+5.53%	+15.05%
2022	-9.24%	-15.80%
2021	+0.24%	+8.00%
2020	+5.85%	+8.58%
2019	+8.25%	+22.09%
2018	+1.05%	-14.65%
2017	+6.27%	+25.95%
2016	-1.15%	+6.67%
2015	+3.64%	-4.94%
2014	+9.98%	-1.28%
2013	-4.24%	+12.22%
2012	+6.19%	+13.69%
2011	+12.58%	-14.44%
2010	+2.01%	+8.51%
2009	+10.40%	+35.42%
2008	-1.16%	-41.96%
2007	+0.84%	+15.36%

ITM vs CWI Drawdown Comparison

The maximum drawdown for ITM was -24.75%, occurring on Mar 19, 2020. Recovery took 100 trading sessions.

The maximum drawdown for CWI was -60.77%, occurring on Mar 9, 2009. Recovery took 1668 trading sessions.

The current ITM drawdown is -1.73%. The current CWI drawdown is -0.42%.

Rank	ITM	CWI
#1	-24.75% Mar 9, 2020 - Jul 30, 2020	-60.77% Oct 31, 2007 - Jun 18, 2014
#2	-16.58% Sep 25, 2008 - May 19, 2009	-34.64% Jan 26, 2018 - Nov 13, 2020
#3	-15.11% Jul 20, 2021 - Nov 11, 2025	-29.42% Jun 14, 2021 - May 9, 2024
#4	-10.99% Nov 30, 2012 - May 16, 2014	-25.24% Jul 3, 2014 - May 5, 2017
#5	-8.90% Aug 26, 2010 - Aug 3, 2011	-13.85% Mar 19, 2025 - May 2, 2025
#6	-7.61% Jul 6, 2016 - Sep 5, 2017	-12.72% Jul 13, 2007 - Oct 1, 2007
#7	-4.05% Jan 30, 2015 - Nov 27, 2015	-11.47% Feb 25, 2026 - May 6, 2026
#8	-4.03% Sep 11, 2008 - Sep 25, 2008	-9.50% Sep 26, 2024 - Mar 17, 2025
#9	-3.91% May 21, 2009 - Aug 18, 2009	-8.03% Jul 12, 2024 - Aug 23, 2024
#10	-3.59% Jan 23, 2008 - Sep 11, 2008	-7.91% Feb 26, 2007 - Apr 3, 2007
#11	-3.43% Feb 27, 2026 - Mar 26, 2026	-4.96% Nov 12, 2025 - Dec 10, 2025
#12	-3.43% Oct 2, 2009 - Mar 2, 2010	-4.92% Feb 16, 2021 - Apr 15, 2021
#13	-3.39% Dec 6, 2017 - Dec 19, 2018	-4.58% Jan 21, 2021 - Feb 9, 2021
#14	-3.20% Feb 1, 2012 - May 4, 2012	-4.21% Jul 23, 2025 - Aug 13, 2025
#15	-2.97% Sep 23, 2011 - Dec 6, 2011	-3.82% Aug 23, 2024 - Sep 19, 2024

Correlation

Correlation between ITM and CWI is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (2007 - 2026)

ITM vs CWI dividend yield comparison.

Year	ITM	CWI
2026	1.00%	0.00%
2025	2.86%	2.97%
2024	2.73%	2.89%
2023	2.40%	2.80%
2022	1.92%	3.17%
2021	1.70%	2.65%
2020	2.13%	2.07%
2019	2.44%	3.05%
2018	2.33%	2.81%
2017	2.21%	2.29%
2016	2.29%	2.45%
2015	2.28%	2.62%
2014	2.42%	3.21%
2013	2.63%	2.69%
2012	2.63%	3.15%
2011	3.22%	2.98%
2010	3.64%	2.31%
2009	3.59%	2.20%
2008	3.75%	2.17%
2007	0.22%	2.01%