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CWI vs VEU: Differences, Returns & Fees

CWI and VEU hold 73% of their weight in the same names. Net assets: $2.9bn on Oct 8, 2026 for State Street SPDR MSCI ACWI ex-US ETF, and $68.1bn on Sep 30, 2026 for Vanguard FTSE All World Ex US ETF.

VEU costs 0.26 points a year less; their one-year returns differ by 0.4 points.

CWIVEU
Expense ratio0.30%0.04%
Net assets, CWI as of Oct 8, 2026 and VEU as of Sep 30, 2026$2.9bn$68.1bn
Total return, 1 year+17.8%+18.2%
What it tracksnot read by ETFIQFTSE All-World ex US Index
Holdings in common73%
Top ten holdings, share of the fund16.1%14.5%
Below its high3.9%, high on Sep 4, 2026

Holdings in common uses holdings dated Aug 31, 2026 and Oct 8, 2026.

+17.8%
CWI total return, 1 year
+18.2%
VEU total return, 1 year
0.30%
CWI expense ratio
0.04%
VEU expense ratio

What they hold in common

By the books each fund has filed, CWI and VEU hold 73% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Aug 31, 2026 and Oct 8, 2026.

half

73% in common

Positions both hold, largest shared weight first
Holding CWI VEU
TAIWAN SEMICONDUCTOR MANUFAC 3.38% 4.36%
SK HYNIX INC 1.88% 1.60%
ASML HOLDING NV 2.00% 1.56%
TENCENT HOLDINGS LTD 0.85% 0.86%
HSBC HOLDINGS PLC 0.93% 0.84%
ROCHE HOLDING AG 0.85% 0.73%
ROYAL BANK OF CANADA 0.84% 0.68%
NOVARTIS AG REG 0.72% 0.68%
SHELL PLC 0.78% 0.61%
NESTLE SA REG 0.65% 0.60%
MITSUBISHI UFJ FINANCIAL GRO 0.69% 0.59%
ALIBABA GROUP HOLDING LTD 0.58% 0.65%
Only in CWI
SAMSUNG ELECTR GDR REG S 2.64%
HON HAI PRECISION GDR REG S 0.29%
SPOTIFY TECHNOLOGY SA 0.22%
RELIANCE INDS SPONS GDR 144A 0.22%
ICICI BANK LTD SPON ADR 0.19%
NU HOLDINGS LTD/CAYMAN ISL A 0.13%
VALE SA SP ADR 0.13%
CREDICORP LTD 0.12%
Only in VEU
Samsung Electronics Co Ltd 2.08%
SLBBH1142 1.11%
MKTLIQ 0.55%
Hon Hai Precision Industry Co Ltd 0.23%
Reliance Industries Ltd 0.21%
ICICI Bank Ltd 0.19%
Air Liquide SA 0.17%
L'Oreal SA 0.15%

Check overlap with more funds →

On the same fields

CWI
State Street SPDR MSCI ACWI ex-US ETF
VEU
Vanguard FTSE All World Ex US ETF
Where it sits Stock ETF Stock ETF
Issuer State Street Vanguard
What it is Tracks an index Tracks the FTSE All-World ex-US
Total return, 1 year +17.8% +18.2%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 +0.6 pts +0.9 pts
Expense ratio 0.30% 0.04%
Already in the S&P 500 0.0% 0.0%
Holdings 1110 3862
Net assets, CWI as of Oct 8, 2026 and VEU as of Sep 30, 2026 $2.9bn $68.1bn

CWI and VEU on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

CWI in plain words

CWI tracks an index. Over the year to Oct 9, 2026 it returned +17.8% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.30% a year. By its holdings published by its issuer for Oct 8, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,110 positions, with the top ten at 16.1%. It sat 3.9% below its high of Sep 4, 2026 on Oct 9, 2026.

VEU in plain words

VEU tracks the FTSE All-World ex-US. Over the year to Oct 9, 2026 it returned +18.2% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer as of Aug 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3,862 positions, with the top ten at 14.5%.

Questions people ask

Which returned more over the last year, CWI or VEU?
In the year to Oct 9, 2026, with distributions reinvested, CWI returned +17.8% and VEU +18.2%.
Which is cheaper, CWI or VEU?
VEU is cheaper, by 0.26 percentage points a year. That is about $26 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do CWI and VEU overlap with the S&P 500?
By their latest filed holdings, 0% of CWI and 0% of VEU by weight is stocks the S&P 500 already holds.
Other comparisons
BBIN vs CWICWI vs DIHPCWI vs IDMOCWI vs SCHFINTF vs VEUHFXI vs VEUIMTM vs VEUIDMO vs VEU
CWI on its own →VEU on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
CWI filings on SEC EDGAR ↗CWI prospectus with the expense ratio (SEC) ↗State Street website ↗VEU filings on SEC EDGAR ↗VEU prospectus with the expense ratio (SEC) ↗Vanguard page for VEU ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, CWI against VEU, data as of Oct 9, 2026. https://etfiq.com/compare/any/cwi-vs-veu

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.