EFA vs SPDW
iShares MSCI EAFE ETF vs State Street SPDR Portfolio Developed World ex-US ETF
Last updated: 2026-04-02
iShares MSCI EAFE ETF (EFA) is an exchange-traded fund issued by iShares that provides exposure to equities in developed international markets outside the U.S.. It charges an above-average expense ratio of 0.32%. The fund offers an attractive dividend yield of 3.29%. Launched in 2001, the fund has a 25-year track record.
State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an exchange-traded fund that provides exposure to equities in developed international markets outside the U.S.. It charges a very low expense ratio of 0.03%. The fund offers an attractive dividend yield of 3.16%. Launched in 2007, the fund has a 19-year track record.
Quick Verdict
SPDW is significantly cheaper at 0.03% vs 0.32% expense ratio, saving you approximately $571 per $10,000 invested over 10 years. Over the past year, SPDW has significantly outperformed with a 27.1% return vs 20.5%.
Key Metrics
Performance Chart
Indexed to 100 at start (5-year comparison)
Performance Comparison
Fee Impact Over Time
Estimated fee cost difference assuming 8% annual returns
Risk Metrics
Based on 5 years of daily returns
Dividend Comparison
Top Holdings
8 of top 10 holdings overlap (80% overlap in top holdings)
EFA Top Holdings
| Name | Weight |
|---|---|
| ASML Holding N.V.!ams/ASML | 2.54% |
| AstraZeneca PLC!lon/AZN | 1.46% |
| Novartis AG!swx/NOVN | 1.41% |
| Roche Holding AG!swx/ROP | 1.36% |
| HSBC Holdings plc!lon/HSBA | 1.36% |
| Shell plc!lon/SHEL | 1.31% |
| Nestlé S.A.!swx/NESN | 1.22% |
| Toyota Motor Corporation!tyo/7203 | 1.00% |
| Commonwealth Bank of Australia!asx/CBA | 0.99% |
| Mitsubishi UFJ Financial Group, Inc.!tyo/8306 | 0.95% |
SPDW Top Holdings
| Name | Weight |
|---|---|
| Samsung Electronics Co., Ltd.!lon/SMSN | 1.87% |
| ASML Holding N.V.!ams/ASML | 1.68% |
| AstraZeneca PLC!lon/AZN | 1.00% |
| Novartis AG!swx/NOVN | 0.98% |
| SK hynix Inc.!krx/000660 | 0.96% |
| HSBC Holdings plc!lon/HSBA | 0.93% |
| Shell plc!lon/SHEL | 0.93% |
| Roche Holding AG!swx/ROP | 0.92% |
| Nestlé S.A.!swx/NESN | 0.86% |
| Toyota Motor Corporation!tyo/7203 | 0.81% |
Which One Should You Choose?
Choose SPDW if...
you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.
Choose SPDW if...
recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.
Either works if...
you just need broad international developed exposure. Both are solid options — pick whichever your brokerage offers commission-free.