Home   »   ETFs :  SPDR® S&P® International Dividend ETF (DWX)

SPDR® S&P® International Dividend ETF

Fund Objective

The SPDR® S&P® International Dividend ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P® International Dividend Opportunities® Index.

Ordinary brokerage commissions may apply.

Fund Information

As of   01/19/2017
Ticker Symbol DWX
Primary Benchmark S&P International Dividend Opportunities Index
CUSIP 78463X772
Options Available Yes
Gross Expense Ratio

The gross expense ratio is the fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

Inception Date 02/12/2008
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor State Street Global Markets, LLC
Distribution Frequency Quarterly

Fund Characteristics

As of   01/18/2017
Est. 3-5 Year EPS Growth

The Estimated 3-5 Year EPS Growth 

Based on the underlying holdings of the fund. The actual earnings estimates for the underlying holdings are provided by FactSet, First Call, I/B/E/S Consensus, and Reuters and are used to calculate a mean 3-5 year EPS growth rate estimate.

Number of Holdings 120
Price/Book Ratio

Price/Book Ratio

The weighted harmonic average of closing market price divided by the most recent reported book value for each security in the fund’s portfolio as calculated for the last twelve months.

Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

Closing price divided by the sum of the forecasted fiscal year earnings per share.

Weighted Average Market Cap $17,540.18 M


As of   01/17/2017
30 Day SEC Yield

30 Day SEC Yield (Standardized Yield) 

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.

Fund Dividend Yield

Fund Dividend Yield is the sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

Index Dividend Yield

Index Dividend Yield is the weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.


Index Characteristics

As of   01/18/2017
Est. 3-5 Year EPS Growth 4.14%
Number of Holdings 102
Price/Cash Flow 2.94
Price/Earnings 13.01
Price/Earnings Ratio FY1 13.45
Return On Equity 14.84%

Fund Documents

Fund Market Price

As of   01/18/2017
Bid/Ask $36.91
Closing Price $36.92
Day High $37.12
Day Low $36.89
Exchange Volume (shares)

The Exchange Volume represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.


Premium/Discount to NAV

Premium/Discount to NAV shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask – Closing NAV)  /  Closing NAV * 100)

Premium Discount to Nav Chart

Fund Net Asset Value


Market value of a mutual fund's and ETF's total assets, minus liabilities, divided by the number of shares outstanding

As of   01/18/2017
NAV $37.09
Shares Outstanding 28.00 M
Total Net Assets $1,038.50 M
Most Recent NAV / NAV History XLS

Fund Net Cash Amount

As of   01/18/2017
Net Cash Amount $1,544,394.31

Index Statistics

As of   01/18/2017
Weighted Average Market Cap $11,194.65 M
Average Size
Mean $12,941.92 M
Median $4,699.57 M
Size Range
Largest $107,244.68 M
Smallest $614.20 M

Purchase Information

Buying and Selling ETFs

ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

Ordinary brokerage commissions apply.

Performance Graphs

Month End as of 12/31/2016

Fund Inception Date: 02/12/2008

Index Inception Date: 02/13/2008

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; S&amp;P&lt;sup&gt;®&lt;/sup&gt; International Dividend ETF" bmarkName="S&amp;P International Dividend Opportunities Index"><funds><field>1 Month</field><fund>3.60</fund><index>3.69</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>1.18</fund><index>1.27</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>13.65</fund><index>14.33</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>13.65</fund><index>14.33</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>-3.56</fund><index>-3.16</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>0.95</fund><index>1.26</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>-1.60</fund><index>-1.60</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of   01/18/2017
Name Weight Shares Held
Rio Tinto plc 3.98 % 957,341
Crescent Point Energy Corp. 3.39 % 2,879,642
Sands China Ltd. 3.38 % 7,807,200
Woodside Petroleum Ltd 3.26 % 1,382,733
STMicroelectronics NV 3.09 % 2,780,783
Pembina Pipeline Corporation 2.79 % 905,610
Fortum Oyj 2.58 % 1,662,935
Woolworths Ltd 2.57 % 1,451,218
Whitecap Resources Inc. 2.48 % 3,040,252
Aurizon Holdings Ltd. 2.28 % 6,181,735
Download All Holdings XLS

Index Top Holdings

As of 01/18/2017
Name Weight
Aurizon Holdings Ltd. 9.06 %
Electricite de France SA 7.60 %
Sands China Ltd. 6.69 %
Fortum Oyj 3.13 %
Telstra Corporation Limited 2.73 %
Rio Tinto plc 2.72 %
STMicroelectronics NV 2.51 %
Woodside Petroleum Ltd 2.26 %
ASX Limited 2.02 %
Crescent Point Energy Corp. 2.02 %

Fund Sector Allocation

As of  01/18/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>01/18/2017</asOfDate><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>19.05</rawValue><value>19.05%</value><label>Energy</label><order>1</order></attribute><attribute><rawValue>18.44</rawValue><value>18.44%</value><label>Financials</label><order>2</order></attribute><attribute><rawValue>17.45</rawValue><value>17.45%</value><label>Utilities</label><order>3</order></attribute><attribute><rawValue>9.65</rawValue><value>9.65%</value><label>Telecommunication Services</label><order>4</order></attribute><attribute><rawValue>8.65</rawValue><value>8.65%</value><label>Consumer Discretionary</label><order>5</order></attribute><attribute><rawValue>7.48</rawValue><value>7.48%</value><label>Materials</label><order>6</order></attribute><attribute><rawValue>6.45</rawValue><value>6.45%</value><label>Real Estate</label><order>7</order></attribute><attribute><rawValue>4.77</rawValue><value>4.77%</value><label>Industrials</label><order>8</order></attribute><attribute><rawValue>3.96</rawValue><value>3.96%</value><label>Consumer Staples</label><order>9</order></attribute><attribute><rawValue>3.09</rawValue><value>3.09%</value><label>Information Technology</label><order>10</order></attribute><attribute><rawValue>0.82</rawValue><value>0.82%</value><label>Health Care</label><order>11</order></attribute><attribute><rawValue>0.06</rawValue><value>0.06%</value><label>Unassigned</label><order>12</order></attribute></attributes></component>

Index Sector Allocation

As of  01/18/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>01/18/2017</asOfDate><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>19.08</rawValue><value>19.08%</value><label>Utilities</label><order>1</order></attribute><attribute><rawValue>17.29</rawValue><value>17.29%</value><label>Financials</label><order>2</order></attribute><attribute><rawValue>12.23</rawValue><value>12.23%</value><label>Energy</label><order>3</order></attribute><attribute><rawValue>12.17</rawValue><value>12.17%</value><label>Consumer Discretionary</label><order>4</order></attribute><attribute><rawValue>11.42</rawValue><value>11.42%</value><label>Industrials</label><order>5</order></attribute><attribute><rawValue>10.4</rawValue><value>10.40%</value><label>Telecommunication Services</label><order>6</order></attribute><attribute><rawValue>6.55</rawValue><value>6.55%</value><label>Real Estate</label><order>7</order></attribute><attribute><rawValue>5.44</rawValue><value>5.44%</value><label>Materials</label><order>8</order></attribute><attribute><rawValue>2.51</rawValue><value>2.51%</value><label>Information Technology</label><order>9</order></attribute><attribute><rawValue>2.42</rawValue><value>2.42%</value><label>Consumer Staples</label><order>10</order></attribute><attribute><rawValue>0.49</rawValue><value>0.49%</value><label>Health Care</label><order>11</order></attribute></attributes></component>

Fund Country Weights

As of  01/18/2017
Australia 24.58%
Canada 13.72%
United Kingdom 12.58%
France 5.72%
Hong Kong 5.68%
South Africa 5.63%
China 4.05%
Finland 3.41%
Italy 2.86%
New Zealand 2.53%
Turkey 2.31%
Germany 2.19%
Spain 2.00%
Sweden 1.97%
Norway 1.62%
Netherlands 1.58%
Portugal 1.44%
Brazil 1.24%
Thailand 1.17%
Russia 1.09%
Switzerland 0.92%
Singapore 0.75%
Belgium 0.60%
Czech Republic 0.33%

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Unless otherwise noted all information contained herein is that of the SPDR S&P International Dividend ETF.

As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

S&P - In net total return indices, the dividends are reinvested after the deduction of withholding tax. Tax rates are applied at the country level or at the index level.

Global Equity Beta Solutions

Co-Head, Global Equity Beta Solutions Michael J. Feehily Senior Managing Director Show Bio

Mike is a Senior Managing Director and the Head of Global Equity Beta Solutions in the Americas. He is also a member of the Senior Leadership Team, is the Chairperson for the firm's Trade Management Oversight Committee, and is a voting member on the North America Product Committee.

Mike rejoined SSGA in 2010 after spending four years in State Street Global Markets where he helped to build the Global Exposure Solutions business. This group created and managed portfolios that were designed to meet the short-term market exposure needs of our institutional clients. Prior to this Mike had been Head of the US Passive Equity Team within SSGA, which he originally joined in 1997. He began his career at State Street within the Global Services division in 1992.

Mike received a Bachelor of Science Degree from Babson College in Finance, Investments, and Economics. He received an MBA in Finance from Bentley College and also earned the Chartered Financial Analyst designation. He is a member of the CFA Institute and the Boston Security Analysts Society. Mike is also a former member of the Russell Index Client Advisory Board.

Portfolio Manager Karl A. Schneider Vice President Show Bio

Karl Schneider, CAIA, is a Vice President of SSGA and Deputy Head of Global Equity Beta Solutions (GEBS) in the Americas. He also serves as a senior portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for US equity strategies and synthetic beta strategies, including commodities, buy/write, and hedge fund replication. He is also a member of the S&P Dow Jones US Equities Index Advisory Panel.

Prior to joining the GEBS team, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1997.

Mr. Schneider holds a BS in Finance and Investments from Babson College and also an MS in Finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation and is a member of the CAIA Association.

Senior Portfolio Manager Ted Janowsky Vice President Show Bio

Ted is a Vice President of State Street Global Advisors and a Senior Portfolio Manager within the Global Equity Beta Solutions team. In this capacity, he manages a diverse group of equity and derivative-based index portfolios and has played a significant role designing our proprietary portfolio management software. Additionally, Ted is head of Company Stock Groups' portfolio management team, which manages all fiduciary transactions and company stock investments including employee stock ownership plans, 401(k) plans, defined benefit plans and non-qualified plans.

Prior to joining the Global Equity Beta Solutions team, Ted worked as an application developer in Investor Technology Services within State Street Corporation. He also worked as a business analyst in State Street's London and Sydney offices.

Ted holds a Bachelor of Science degree in Business Administration from Bucknell University and a MBA from the Carroll School of Graduate Management at Boston College. He has also earned the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Security Analysts Society.

After Tax Returns

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shres through tad deferred arrangements such as 401(k) plans or individual retiredment accounts. After tax returns may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.

S&P International Dividend Opportunities Index

The S&P International Dividend Opportunities® Index generally includes 100 tradable, exchange-listed common stocks from around the world that offer high dividend yields. The universe from which the International Dividend Index is drawn is all dividend-paying common stocks and ADRs listed on primary exchanges of countries included in the S&P/Citigroup Broad Market Index that may be delivered in-kind, free of payment. To be included in the International Dividend Index, stocks must meet, as of the reference date, the following investability criteria: a total market capitalization greater than $1 billion; a float-adjusted market cap greater the $600 million for developed market stocks and US$ 300 million for emerging markets stocks; and a three-month average daily value traded greater than $5 million. Additionally, stocks must meet the following stability factor: positive 3-year earnings growth and profitability, as measured by positive earning per share.

To ensure diverse exposure, no single country or sector has more than 25% weight in the Index and emerging market exposure is limited to 15% at rebalancing. Common stocks of companies domiciled in the United States, derivatives, structured products, over-the-counter listings, mutual funds and exchange traded funds are not eligible for inclusion in the International Dividend Index. The reference date is the 3rd Friday of June and December. The market capitalization and liquidity thresholds are subject to change according to market conditions

Important Risk Information

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.


Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.


Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.


Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Premium Discount to NAV

As of  01/18/2017
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
SPDR® S&P® International Dividend ETF DWX $37.09 $36.92 $36.91 -0.48%
Download Fund Data

x axis: # of days y axis: # Premium/Discount percentage

The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.