What does 'Foreign Large Blend' mean for these ETFs?

Foreign Large Blend describes funds investing in large companies outside the United States. ACWX and CWI both fit this category, meaning they track developed and emerging markets excluding the US. This classification suggests a focus on established multinational corporations. Beginners should note that while the label implies similar strategies, actual holdings may vary by provider methodology and specific index tracking rules. Understanding this broad category helps investors grasp the primary geographic and size-based focus of these exchange-traded funds without needing deep technical knowledge.

What is the role of an expense ratio in an ETF?

An expense ratio is the annual fee charged by an ETF provider to manage the fund, expressed as a percentage of assets. It covers administration, management, and operational costs. This fee is deducted from the fund's earnings, effectively reducing the investor's net return over time. For ACWX, the expense ratio is 0.32%, while CWI charges 0.30%. Though the difference is small, it illustrates how ongoing costs impact long-term growth. Investors should always compare these ratios alongside other fund features to understand the true cost of holding the asset.

What does 'net assets' indicate about an ETF?

Net assets, often referred to as assets under management (AUM), represent the total market value of the holdings within an ETF. Higher net assets generally suggest greater liquidity and potential stability, as more investors have committed capital to the fund. ACWX has $12.3 billion in net assets, while CWI has $2.8 billion. This significant difference may affect trading volume and bid-ask spreads. However, size alone does not determine performance. Beginners should view net assets as one indicator of a fund's scale and market acceptance rather than a direct measure of investment quality.

How do the expense ratios of ACWX and CWI compare?

ACWX has an expense ratio of 0.32%, while CWI charges 0.30%. This means CWI is slightly cheaper, with a difference of 0.02 percentage points. While this gap is minimal, lower fees can compound over time to preserve more of an investor's returns. For a beginner, understanding that even small differences in annual costs matter is crucial. However, fees are just one factor; performance, tracking accuracy, and fund size also play significant roles in deciding which fund might align better with specific long-term objectives.

Are the top holdings of ACWX and CWI similar?

Based on the provided data, there is no overlap in the top ten holdings listed for these funds. ACWX's top holdings are currently not available for comparison. CWI lists TSM as a top holding at 1.82%. This lack of shared top holdings suggests that while both funds target foreign large blend markets, their specific selection of top companies differs. Investors should recognise that different index providers or methodologies can lead to distinct portfolio compositions, even when the overall investment theme appears identical on the surface.

What are the dividend yields for these ETFs?

CWI offers a dividend yield of 2.64%, compared to ACWX's 2.45%. A dividend yield represents the annual payout relative to the share price. For investors focused on income, this difference might be a consideration, though it is relatively small. However, yields can fluctuate with market prices and company payouts. Beginners should understand that a higher yield does not necessarily mean better returns if the underlying asset price declines. Both funds distribute dividends, so the choice may depend on how important current income is relative to other fund characteristics.

Which fund is older, ACWX or CWI?

CWI was launched on 10 January 2007, making it older than ACWX, which launched on 26 March 2008. This means CWI has been on the market for approximately a year longer. While inception date does not guarantee better performance, it indicates a longer track record of operation and market presence. Some investors may prefer established funds, while others look at recent structural changes. Understanding these dates helps beginners contextualise the maturity of each ETF and the length of time investors have had access to these specific products.

How do ACWX and CWI track their market exposure?

ACWX tracks the MSCI ACWI ex US Index, while CWI tracks the SPDR MSCI ACWI ex-US ETF index. Both aim to provide exposure to large companies in developed and emerging markets outside the United States. This means they offer similar geographic diversification benefits for a portfolio heavily weighted in US stocks. However, slight differences in index rebalancing methods or sampling techniques can lead to variations in performance. Beginners should note that both funds serve the same strategic purpose: broad international equity exposure excluding the domestic US market.

Do sector weights differ between ACWX and CWI?

Current data does not provide specific sector weights for either ACWX or CWI, as these figures are listed as not available. Consequently, a direct comparison of their industry allocations cannot be made from this information alone. Sector weights are crucial for understanding concentration risk; for example, if one fund is heavily overweight in technology while the other is balanced. Investors seeking to avoid unintended concentration should await updated sector data or consult official fund factsheets for precise, current breakdowns of industrial exposure.

Why are net asset differences significant for investors?

ACWX holds $12.3 billion in net assets, whereas CWI holds $2.8 billion. This difference of over $9 billion indicates ACWX is a larger fund. Larger funds often benefit from economies of scale, potentially offering tighter bid-ask spreads and higher liquidity, which can make buying and selling easier. While CWI is still a substantial fund, its smaller size might result in slightly different trading dynamics. Beginners should consider liquidity and fund size as practical factors affecting ease of transaction, even if the underlying investment strategy is similar.

How do investors use these ETFs for goal fit?

Investors typically use ACWX and CWI to gain diversified exposure to international developed and emerging markets, excluding the US. This strategy aligns with goals such as reducing home-country bias and spreading risk across global economies. Both funds suit investors seeking broad international equity participation. The choice between them may depend on individual preferences regarding expense ratios, fund size, or slight yield differences. Since both offer similar geographic exposure, they serve the same fundamental portfolio construction goal: integrating non-US large-cap equities into a diversified investment mix.

What should beginners know before comparing ETFs?

When comparing ETFs like ACWX and CWI, beginners should look beyond simple metrics. While expense ratios (0.32% vs 0.30%) and yields (2.45% vs 2.64%) are important, tracking error, liquidity, and underlying index methodology matter too. Note that top holdings data varies, and sector weights are not available. Educational content is provided to aid understanding, but this is not financial advice. Investors should consult comprehensive fund documents and consider their own risk tolerance and investment horizon before making any decisions regarding these or other exchange-traded funds.

ACWX vs CWI

Two funds, one decision: we compare cost, performance and what each ETF actually holds in October 2026.

Compare ACWX (MSCI ACWI ex US Index iShares) and CWI (SPDR MSCI ACWI ex-US ETF) on fees, holdings, dividends and how each fund tracks its market. ACWX charges 0.32% with $12.3 billion net assets and a 2.45% dividend yield, launched 26 March 2008. CWI charges 0.30% with $2.8 billion net assets and a 2.64% yield, launched 10 January 2007, and lists TSM at 1.82%; ACWX top holdings are not available and shared top-10 holdings are none. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

ACWX

Metric

CWI

0.32%

Expense Ratio

0.30%

2.45%

Dividend Yield

2.64%

$12.33B

Net Assets

$2.83B

1,911

Holdings

1,140

Mar 26, 2008

Inception Date

Jan 10, 2007

–

Index Tracked

–

Foreign Large Blend

Fund Category

Foreign Large Blend

CWI costs about $2.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

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ACWX vs SPY

Compare ACWX and SPY ETFs on fees, dividends, and holdings. ACWX tracks foreign stocks with 2.45% yield; SPY covers US equities with 0.09% expense.

Investment Analysis

ACWX

Pros

,
iShares
ACWX

Considerations

,
index
0.32%

CWI

Pros

,
CWI
SPDR

Considerations

,
TSM
0.3%

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About ACWX and CWI

ACWX (ACWX)

iShares MSCI ACWI ex US (ticker: ACWX) is an exchange‑traded fund that aims to track the MSCI ACWI ex USA Index, providing broad equity exposure to developed and emerging markets outside the United States. It holds a diversified mix of large‑ and mid‑cap companies across many countries and sectors, helping investors gain international weightings in a single product. Key considerations include currency movements, country‑specific political and economic risks, and tracking error versus the underlying index. As an ETF, it typically offers intraday liquidity and transparent holdings, but fees and market conditions can affect returns. This summary is general educational information only and not personal financial advice; values can rise or fall and returns are not guaranteed. Investors should check the fund’s prospectus, costs, holdings and suitability for their individual goals and consider seeking regulated financial advice if unsure.

CWI (CWI)

The SPDR MSCI ACWI ex-US ETF offers investors a way to gain diversified exposure to companies across developed and emerging markets outside the United States. As an Exchange-Traded Fund (ETF), it aims to reflect the performance of a broad international stock market, spanning approximately 1,140 holdings. This fund falls into the Foreign Large Blend category, balancing large and mid-cap companies. With a moderate expense ratio of 0.30%, it provides a cost-effective entry point for those looking to broaden their global portfolio horizons. Investors receive a dividend yield of roughly 2.64%, though payouts and market values can fluctuate. Launched in 2007, this ETF is a long-standing tool for those seeking international diversification. It is worth noting that investing in foreign markets involves risks, including currency fluctuations and varying regulatory environments. This content is for educational purposes only and does not constitute financial advice.

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ACWX vs CWI

Fund Snapshot