Data as of Oct 28, 2026.
ACWI vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWI returned +13.4% to SPY's +13.6%; 63% of their weight is in the same names.
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Net assets: $33.0bn on Oct 28, 2026 for iShares MSCI ACWI ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.23 points a year less; their one-year returns differ by 0.2 points; SPY is far larger, $810.0bn against $32.6bn.
| Measure | ACWI | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.4% | +13.6% |
| Benchmark | ||
| What it tracks | MSCI ACWI | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.32% | 0.09% |
| Net assets, as of Oct 26, 2026 | $32.6bn | $810.0bn |
| Holdings | ||
| Holdings in common | 63% | |
| Top ten holdings, share of the fund | 24.9% | 38.1% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Apr 4, 2008 to Oct 23, 2026 · 968 weekly returnsSPY returned more: +678.2% to +333.1%. ACWI and SPY swung about the same: 18.5% and 18.2%. SPY fell slightly less at its worst: −50.8% to −55.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWI | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +333.1% | +678.2% | SPY | Price change plus distributions, reinvested. |
| Annualized | +8.2% | +11.7% | SPY | Total return as a yearly rate. |
| Price return | +204.7% | +455.2% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.5% | 18.2% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.2% | 12.8% | SPY (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −55.3% | −50.8% | SPY (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.44 | 0.62 | SPY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.62 | 0.88 | SPY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.15 | 0.23 | SPY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 968 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWI and SPY hold 63% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
63% in common
Only in one fund ↓
Side by side
ACWI and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWI and SPY do different jobs. What does each one do in a portfolio?
- What each follows. ACWI follows MSCI ACWI and SPY follows S&P 500 Index.
- Number of holdings. ACWI holds 2,197 positions and SPY holds 504.
- Cost. ACWI charges 0.32% of assets a year and SPY 0.09%, a gap of 0.23 points.
Data as of Oct 28, 2026.
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ACWI
ACWI tracks the MSCI ACWI. Over the year to Oct 28, 2026 it returned +13.4% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 61% of the fund by weight is stocks the S&P 500 also holds, across 2,197 positions, with the top ten at 24.9%.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, ACWI or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, ACWI returned +13.4% and SPY +13.6%.
- Which is cheaper, ACWI or SPY?
- SPY is cheaper, by 0.23 percentage points a year. That is about $23 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWI against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwi-vs-spy
ETFIQ. (Oct 28, 2026). ACWI against SPY. Retrieved from https://etfiq.com/compare/any/acwi-vs-spy
[ACWI against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwi-vs-spy)
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