SPDR® MSCI ACWI ex-US ETF (CWI)

Overview

The SPDRu00ae MSCI ACWI ex-US ETF (ACWX) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the MSCI ACWI ex USA IMI Index. It invests in a broad range of stocks outside the U.S., providing diversified exposure to international markets.

Reputation and Reliability

State Street Global Advisors (SSGA) is a well-established and reputable ETF issuer with a long track record and significant assets under management.

Management Expertise

SSGA has extensive experience in managing index-tracking ETFs, leveraging its global investment capabilities and research expertise.

Goal

The investment goal of ACWX is to track the performance of the MSCI ACWI ex USA IMI Index.

Investment Approach and Strategy

Strategy: ACWX employs a replication strategy, meaning it invests in all or a representative sample of the securities in the MSCI ACWI ex USA IMI Index in proportion to their weighting in the index.

Composition The ETF primarily holds stocks from developed and emerging markets outside the United States. The holdings are diversified across various sectors and countries.

Market Share: ACWX holds a moderate market share in the international equity ETF category.

Total Net Assets (AUM): 5150000000

Key Competitors

• Vanguard FTSE All-World ex-US ETF (VEU)
• iShares Core MSCI EAFE ETF (IEFA)
• iShares MSCI ACWI ex US ETF (ACWX)

Competitive Landscape

The international equity ETF market is competitive with several large players. ACWX's advantage is its SPDR brand recognition, but it faces competition from VEU and IEFA, which often have lower expense ratios and larger AUM. ACWX's expense ratio is slightly higher than some competitors, which can impact long-term returns. VEU offers broader coverage with more holdings, while IEFA focuses primarily on developed markets outside North America.

Historical Performance: Historical performance varies based on market conditions. Returns are correlated with the performance of international equity markets. Refer to official fund documents for the most accurate and up-to-date performance data.

Benchmark Comparison: ACWX's performance should closely track the MSCI ACWI ex USA IMI Index. Deviations can occur due to tracking error and fund expenses.

Expense Ratio: 0.29

Average Trading Volume

ACWX generally has moderate average trading volume, allowing for relatively easy buying and selling of shares.

Bid-Ask Spread

The bid-ask spread is typically tight, reflecting the fund's liquidity and efficient trading.

Market Environment Factors

Economic growth in developed and emerging markets, currency fluctuations, geopolitical events, and global trade policies can significantly impact ACWX's performance.

Growth Trajectory

ACWX's growth trajectory is dependent on the performance of international equity markets and investor demand for international exposure; any changes to index methodology may impact holdings.

Competitive Edge

ACWX benefits from the SPDR brand recognition and SSGA's expertise in index-tracking ETFs. Its investment strategy is straightforward, passively tracking the MSCI ACWI ex USA IMI Index to mirror the returns. The ETF offers broad diversification across developed and emerging markets outside the U.S., making it an efficient vehicle for investors seeking international equity exposure. However, the expense ratio may be a drawback compared to some competitors. Its size and trading volume are adequate but not as large as the most popular ETFs in the space.

Volatility

ACWX's volatility is similar to that of international equity markets, which can be higher than U.S. markets.

Market Risk

The primary market risk is exposure to international equity markets, including fluctuations in stock prices, currency exchange rates, and geopolitical events.

Ideal Investor Profile

The ideal investor is seeking broad diversification in international equities and is comfortable with the risks associated with investing in foreign markets.

Market Risk

ACWX is suitable for long-term investors seeking passive exposure to international equities as part of a diversified portfolio.

The SPDRu00ae MSCI ACWI ex-US ETF (ACWX) offers diversified exposure to international equity markets by tracking the MSCI ACWI ex USA IMI Index. It's managed by SSGA, a reputable issuer, and provides a passive investment strategy suitable for long-term investors. However, it faces competition from ETFs with lower expense ratios and may experience volatility consistent with international markets. Investors should consider its expense ratio and potential risks before investing.

Data Sources:

• State Street Global Advisors Website
• ETF.com
• Morningstar

Disclaimers:

The data and analysis provided are for informational purposes only and should not be considered investment advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.