CWI vs. DFAE ETF Comparison

Comparison of SPDR MSCI ACWI ex-US ETF (CWI) to Dimensional Emerging Core Equity Market ETF (DFAE)

CWI

SPDR MSCI ACWI ex-US ETF

CWI Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of an index. The fund employs a sampling strategy in seeking to track the performance of the MSCI All Country World Index ex USA. It invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in ADRs or GDRs based on securities comprising the index. The index is a float-adjusted market capitalization index that is designed to measure the combined equity market performance of developed and emerging market countries excluding the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$28.75

Average Daily Volume

203,137

Number of Holdings ^*

86

* may have additional holdings in another (foreign) market

DFAE

Dimensional Emerging Core Equity Market ETF

DFAE Description

The investment objective of the Dimensional Emerging Core Equity Market ETF is to achieve long-term capital appreciation.

Grade (RS Rating)

Last Trade

$25.54

Average Daily Volume

741,727

Number of Holdings ^*

102

* may have additional holdings in another (foreign) market

Performance

Period	CWI	DFAE
30 Days	2.42%	2.74%
60 Days	2.39%	3.53%
90 Days	6.68%	7.00%
12 Months	13.48%	12.22%

59 Overlapping Holdings

	Symbol	Grade	Weight in CWI	Weight in DFAE	Overlap
	ABEV	F	0.06%	0.01%	0.01%
	ABEV	F	0.06%	0.08%	0.06%
	BABA	B	0.51%	0.1%	0.1%
	BABA	B	0.51%	1.58%	0.51%
	BABA	B	0.08%	0.1%	0.08%
	BABA	B	0.08%	1.58%	0.08%
	BAP	C	0.07%	0.08%	0.07%
	BBD	F	0.09%	0.01%	0.01%
	BGNE	C	0.03%	0.0%	0.0%
	BGNE	C	0.03%	0.05%	0.03%
	BIDU	C	0.12%	0.33%	0.12%
	BIDU	C	0.12%	0.03%	0.03%
	BILI	C	0.01%	0.04%	0.01%
	CHT	D	0.11%	0.08%	0.08%
	CHT	D	0.11%	0.03%	0.03%
	CIB	B	0.05%	0.03%	0.03%
	CIG	C	0.04%	0.02%	0.02%
	CSAN	F	0.03%	0.03%	0.03%
	CSAN	F	0.03%	0.0%	0.0%
	GGB	C	0.03%	0.01%	0.01%
	GGB	C	0.03%	0.07%	0.03%
	HDB	D	0.19%	0.57%	0.19%
	HTHT	B	0.03%	0.01%	0.01%
	IBN	C	0.25%	0.2%	0.2%
	IBN	C	0.25%	0.64%	0.25%
	INFY	F	0.27%	0.25%	0.25%
	IQ	C	0.01%	0.01%	0.01%
	ITUB	D	0.16%	0.0%	0.0%
	KB	A	0.11%	0.34%	0.11%
	KB	A	0.11%	0.01%	0.01%
	KEP	D	0.02%	0.05%	0.02%
	KEP	D	0.02%	0.0%	0.0%
	LI	F	0.06%	0.04%	0.04%
	LI	F	0.06%	0.1%	0.06%
	NIO	D	0.03%	0.04%	0.03%
	NIO	D	0.03%	0.02%	0.02%
	PDD	B	0.29%	0.65%	0.29%
	PHI	B	0.02%	0.0%	0.0%
	PKX	F	0.09%	0.01%	0.01%
	RDY	F	0.09%	0.12%	0.09%
	SBSW	D	0.01%	0.03%	0.01%
	SHG	B	0.08%	0.22%	0.08%
	SHG	B	0.08%	0.02%	0.02%
	SQM	F	0.03%	0.03%	0.03%
	TCOM	A	0.11%	0.29%	0.11%
	TCOM	A	0.11%	0.03%	0.03%
	TME	B	0.04%	0.06%	0.04%
	UMC	C	0.12%	0.2%	0.12%
	UMC	C	0.12%	0.02%	0.02%
	VALE	C	0.17%	0.03%	0.03%
	VALE	C	0.17%	0.4%	0.17%
	VALE	C	0.01%	0.03%	0.01%
	VALE	C	0.01%	0.4%	0.01%
	VIPS	D	0.04%	0.05%	0.04%
	WIT	D	0.03%	0.0%	0.0%
	WIT	D	0.03%	0.1%	0.03%
	XPEV	F	0.01%	0.05%	0.01%
	XPEV	F	0.01%	0.05%	0.01%
	YUMC	F	0.06%	0.25%	0.06%

CWI Overweight 46 Positions Relative to DFAE

	Symbol	Grade	Weight
	TSM	B	2.37%
	TM	D	0.91%
	NVS	B	0.81%
	TD	F	0.5%
	UL	A	0.5%
	MUFG	C	0.45%
	ABBV	D	0.44%
	SONY	F	0.42%
	CNI	D	0.39%
	DEO	D	0.33%
	SHOP	F	0.33%
	HMC	D	0.21%
	SMFG	C	0.2%
	STLA	D	0.2%
	BCS	A	0.17%
	E	B	0.17%
	LYG	A	0.15%
	SE	C	0.09%
	MFG	C	0.09%
	NMR	D	0.08%
	CHKP	D	0.06%
	TEVA	A	0.06%
	ENIC	B	0.05%
	MT	F	0.05%
	AGCO	D	0.05%
	CYBR	D	0.04%
	BEKE	B	0.04%
	OTEX	F	0.04%
	WIX	D	0.03%
	TAL	B	0.03%
	ZTO	C	0.03%
	LOGI	D	0.03%
	RBA	C	0.03%
	XRX	D	0.03%
	LEGN	F	0.02%
	MNDY	F	0.02%
	BVN	B	0.02%
	BZ	B	0.02%
	GRAB	C	0.02%
	SID	F	0.02%
	ATHM	B	0.01%
	QFIN	B	0.01%
	ZLAB	C	0.01%
	FUTU	C	0.01%
	YNDX	C	0.0%
	QGEN	B	0.0%

CWI Underweight 48 Positions Relative to DFAE

	Symbol	Grade	Weight
	GFI	B	-0.17%
	PAC	B	-0.13%
	CX	D	-0.1%
	FMX	D	-0.08%
	ASR	B	-0.07%
	ASAI	F	-0.07%
	SKM	C	-0.06%
	ERJ	C	-0.06%
	HMY	B	-0.04%
	KOF	B	-0.04%
	NTES	D	-0.04%
	LPL	D	-0.04%
	ASAI	F	-0.03%
	BCH	A	-0.03%
	PBR	A	-0.03%
	ERJ	C	-0.03%
	OMAB	B	-0.02%
	BSAC	C	-0.02%
	JKS	D	-0.02%
	GDS	D	-0.02%
	TLK	F	-0.02%
	VIV	F	-0.02%
	BCH	A	-0.02%
	BRFS	B	-0.02%
	CAR	D	-0.02%
	SHPH	D	-0.01%
	GRIN	B	-0.01%
	SBS	D	-0.01%
	SGRP	C	-0.01%
	JD	B	-0.01%
	IMOS	F	-0.01%
	CPAC	D	-0.0%
	DRD	C	-0.0%
	LPL	D	-0.0%
	LGHT	A	-0.0%
	BAOS	F	-0.0%
	IFS	D	-0.0%
	WTO	C	-0.0%
	SUZ	F	-0.0%
	IMOS	F	-0.0%
	VNET	C	-0.0%
	MGNX	F	-0.0%
	AKO.A	B	-0.0%
	WB	C	-0.0%
	SKM	C	-0.0%
	UGP	F	-0.0%
	EBR	F	-0.0%
	SLDB	D	-0.0%

CWI: Top Represented Industries & Keywords

Industries: Internet Content & Information Auto Manufacturers Banks - Regional - Asia Software - Application Banks - Global Banks - Regional - Latin America Steel Biotechnology Information Technology Services Specialty Retail Capital Markets Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Industrial Metals & Minerals Semiconductors Telecom Services Utilities - Regulated Electric Banks - Regional - Europe Beverages - Brewers Beverages - Wineries & Distilleries

Keywords: Banking Bank Investment Banking Financial Products Investment Banking Services Investment Bank Investment Product Telecommunications Transport Cars Cash Management Commercial Banking Currency Insurance Products Pharmaceutical Structured Finance Advertising Services Asset Management Asset Management Services Corporate Banking

DFAE: Top Represented Industries & Keywords

Industries: Banks - Regional - Latin America Internet Content & Information Telecom Services Banks - Regional - Asia Gold Specialty Retail Airports & Air Services Auto Manufacturers Drug Manufacturers - Specialty & Generic Information Technology Services Beverages - Brewers Biotechnology Building Materials Consumer Electronics Oil & Gas Refining & Marketing Semiconductors Steel Utilities - Regulated Electric Advertising Agencies Aerospace & Defense

Keywords: Bank Banking Investment Banking Currency Financial Products Advertising Services Broadband Internet Access Investment Banking Services Nasdaq 100 Natural Gas Telecommunications Cash Management Commercial Banking Drink Factoring Games Information And Communications Technology Investment Product Online Advertising