CWI vs. DFEM ETF Comparison

Comparison of SPDR MSCI ACWI ex-US ETF (CWI) to Dimensional Emerging Markets Core Equity 2 ETF (DFEM)

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

$28.94

Average Daily Volume

166,506

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DFEM

Dimensional Emerging Markets Core Equity 2 ETF

DFEM Description

The Portfolio is designed to purchase a broad and diverse group of securities associated with emerging markets, which may include frontier markets (emerging market countries in an earlier stage of development). As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in emerging markets equity investments that are defined in the prospectus as Approved Market securities.

Grade (RS Rating)

Last Trade

$27.28

Average Daily Volume

608,966

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CWI	DFEM
30 Days	0.87%	3.72%
60 Days	2.85%	3.87%
90 Days	4.01%	7.03%
12 Months	16.65%	17.68%

61 Overlapping Holdings

Symbol	Grade	Weight in CWI	Weight in DFEM	Overlap
ABEV	F	0.05%	0.03%	0.03%
BABA	D	0.48%	0.02%	0.02%
BABA	D	0.48%	1.16%	0.48%
BABA	D	0.07%	1.16%	0.07%
BABA	D	0.07%	0.02%	0.02%
BAP	C	0.07%	0.04%	0.04%
BBD	D	0.07%	0.01%	0.01%
BGNE	F	0.03%	0.0%	0.0%
BGNE	F	0.03%	0.01%	0.01%
BIDU	F	0.1%	0.15%	0.1%
BIDU	F	0.1%	0.01%	0.01%
BILI	C	0.02%	0.08%	0.02%
BRFS	A	0.01%	0.05%	0.01%
CHT	D	0.11%	0.04%	0.04%
CHT	D	0.11%	0.02%	0.02%
CIB	C	0.05%	0.02%	0.02%
CIG	C	0.04%	0.0%	0.0%
CSAN	D	0.03%	0.01%	0.01%
CSAN	D	0.03%	0.0%	0.0%
ENIC	C	0.04%	0.0%	0.0%
GGB	F	0.03%	0.07%	0.03%
GGB	F	0.03%	0.01%	0.01%
HDB	C	0.22%	0.27%	0.22%
HDB	C	0.22%	0.01%	0.01%
HTHT	F	0.02%	0.0%	0.0%
IBN	A	0.27%	0.16%	0.16%
IBN	A	0.27%	0.58%	0.27%
INFY	B	0.28%	0.21%	0.21%
IQ	D	0.01%	0.04%	0.01%
ITUB	D	0.15%	0.0%	0.0%
KB	A	0.1%	0.01%	0.01%
KB	A	0.1%	0.37%	0.1%
KEP	D	0.02%	0.01%	0.01%
KEP	D	0.02%	0.02%	0.02%
LI	F	0.04%	0.02%	0.02%
LI	F	0.04%	0.0%	0.0%
NIO	F	0.03%	0.03%	0.03%
PAC	D	0.01%	0.07%	0.01%
PDD	D	0.3%	0.57%	0.3%
PHI	C	0.02%	0.01%	0.01%
PKX	D	0.08%	0.02%	0.02%
RDY	A	0.08%	0.12%	0.08%
SBSW	D	0.01%	0.02%	0.01%
SBSW	D	0.01%	0.0%	0.0%
SHG	A	0.08%	0.04%	0.04%
SHG	A	0.08%	0.19%	0.08%
SQM	D	0.03%	0.01%	0.01%
TCOM	C	0.1%	0.16%	0.1%
TCOM	C	0.1%	0.01%	0.01%
TME	B	0.05%	0.04%	0.04%
UMC	B	0.12%	0.02%	0.02%
UMC	B	0.12%	0.19%	0.12%
VALE	D	0.15%	0.28%	0.15%
VALE	D	0.01%	0.28%	0.01%
VIPS	F	0.03%	0.08%	0.03%
WIT	A	0.04%	0.06%	0.04%
WIT	A	0.04%	0.01%	0.01%
XPEV	F	0.01%	0.03%	0.01%
XPEV	F	0.01%	0.03%	0.01%
YUMC	F	0.05%	0.14%	0.05%
ZTO	F	0.03%	0.0%	0.0%

CWI Overweight 46 Positions Relative to DFEM

Symbol	Grade	Weight
TSM	A	2.86%
NVS	A	0.82%
TM	D	0.81%
UL	B	0.52%
MUFG	A	0.49%
ABBV	C	0.44%
SONY	C	0.43%
TD	F	0.43%
CNI	D	0.34%
SHOP	C	0.3%
DEO	F	0.29%
SMFG	A	0.24%
HMC	D	0.19%
BCS	A	0.18%
STLA	F	0.16%
E	C	0.16%
LYG	A	0.16%
MFG	A	0.1%
SE	B	0.09%
NMR	C	0.08%
TEVA	C	0.07%
CHKP	A	0.06%
WIX	C	0.04%
LOGI	C	0.04%
XRX	F	0.04%
CYBR	B	0.04%
BEKE	C	0.04%
MT	D	0.04%
AGCO	F	0.04%
RBA	B	0.03%
OTEX	C	0.03%
AER	B	0.02%
LEGN	C	0.02%
SID	D	0.02%
BVN	C	0.02%
BZ	D	0.02%
GRAB	C	0.02%
TAL	D	0.02%
MNDY	A	0.02%
ATHM	D	0.01%
QFIN	D	0.01%
FUTU	C	0.01%
YNDX	C	0.0%
QGEN	D	0.0%
SCCO	C	0.0%
GLBE	B	0.0%

CWI Underweight 42 Positions Relative to DFEM

Symbol	Grade	Weight
GFI	C	-0.15%
ERJ	D	-0.11%
CX	F	-0.11%
ERJ	D	-0.11%
HMY	B	-0.08%
ASR	D	-0.05%
ASAI	D	-0.04%
GDS	B	-0.04%
CAR	F	-0.04%
LPL	B	-0.04%
PBR	D	-0.03%
OMAB	F	-0.03%
FMX	F	-0.03%
BCH	C	-0.03%
JKS	D	-0.03%
VIST	B	-0.02%
SKM	D	-0.02%
SKM	D	-0.02%
IMOS	C	-0.02%
SGRP	B	-0.02%
KOF	D	-0.02%
ASAI	D	-0.02%
SLDB	F	-0.01%
AKO.A	C	-0.01%
SHPH	F	-0.01%
BSAC	C	-0.01%
VIV	D	-0.01%
SBS	C	-0.01%
GRIN	B	-0.01%
NTES	D	-0.01%
LGHT	C	-0.0%
IFS	C	-0.0%
UGP	D	-0.0%
SUZ	C	-0.0%
PDSB	D	-0.0%
MGNX	F	-0.0%
BCH	C	-0.0%
BAOS	F	-0.0%
EBR	D	-0.0%
CCU	F	-0.0%
ZLAB	F	-0.0%
BZUN	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 Information Technology Services Specialty Retail Airports & Air Services Biotechnology Capital Markets Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Industrial Metals & Minerals Semiconductors Telecom Services Utilities - Regulated Electric Banks - Regional - Europe Beverages - Brewers