SPDW vs. DMCY ETF Comparison

Comparison of SPDR Portfolio World ex-US ETF (SPDW) to Democracy International Fund (DMCY)

SPDW

SPDR Portfolio World ex-US ETF

SPDW Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Developed Ex-U.S.BMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a market capitalization weighted index designed to define and measure the investable universe of publicly traded companies domiciled in developed countries outside the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$35.15

Average Daily Volume

2,162,564

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

DMCY

Democracy International Fund

DMCY Description

The Democracy International Fund is a Global Markets ex-United States Large & Mid Cap international equity portfolio that is both democracy and market capitalization weighted. The Democracy International Fund seeks to track the total return performance, before fees and expenses, of the Democracy Investments International Index. The intent of the Fund is to enable investors to allocate more into democracies thereby shifting capital flows toward democratic countries and away from authoritarian countries. This could lower the cost of capital and improve economic growth for democracies and the opposite for authoritarians, resulting in market-based incentives for democratic reforms.

Grade (RS Rating)

Last Trade

$25.50

Average Daily Volume

1,210

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SPDW	DMCY
30 Days	-3.22%	-3.53%
60 Days	-4.95%	-4.75%
90 Days	-5.36%	-5.23%
12 Months	11.79%	10.03%

15 Overlapping Holdings

Symbol	Grade	Weight in SPDW	Weight in DMCY	Overlap
ABBV	F	0.4%	0.56%	0.4%
BCS	A	0.2%	0.27%	0.2%
BNTX	C	0.03%	0.04%	0.03%
CNI	F	0.3%	0.38%	0.3%
DEO	F	0.28%	0.33%	0.28%
E	F	0.15%	0.21%	0.15%
HSBH	B	0.73%	0.79%	0.73%
ICLR	D	0.07%	0.1%	0.07%
LYG	D	0.21%	0.27%	0.21%
NVS	F	0.88%	0.98%	0.88%
SHOP	B	0.57%	0.63%	0.57%
STLA	F	0.12%	0.21%	0.12%
TD	D	0.44%	0.52%	0.44%
UL	D	0.63%	0.65%	0.63%
WCN	A	0.2%	0.29%	0.2%

SPDW Overweight 93 Positions Relative to DMCY

Symbol	Grade	Weight
TM	F	0.9%
MUFG	B	0.61%
SONY	B	0.5%
SMFG	B	0.39%
SPOT	B	0.28%
MFG	A	0.24%
HMC	F	0.19%
SE	A	0.17%
KB	B	0.13%
CPNG	D	0.11%
CHKP	C	0.1%
SHG	C	0.09%
TEVA	C	0.08%
NMR	B	0.08%
CCEP	C	0.08%
CYBR	A	0.08%
PKX	D	0.08%
MT	B	0.06%
LOGI	D	0.06%
ARM	F	0.06%
ONON	A	0.06%
XRX	F	0.06%
GRAB	A	0.05%
WIX	A	0.04%
MNDY	C	0.04%
QGEN	D	0.04%
FUTU	D	0.03%
KEP	B	0.03%
OTEX	F	0.03%
GLNG	C	0.03%
AGCO	D	0.03%
GSL	F	0.03%
AER	A	0.03%
ZIM	C	0.02%
ASND	F	0.02%
AEI	D	0.02%
MBAVU	C	0.02%
XENE	D	0.02%
WFG	C	0.02%
MRUS	F	0.02%
KRNT	B	0.02%
NAT	F	0.01%
FVRR	B	0.01%
MLCO	F	0.01%
URGN	F	0.01%
IMCR	D	0.01%
LSPD	C	0.01%
LPL	D	0.01%
DAVA	C	0.01%
AY	A	0.01%
GLBE	B	0.01%
LPL	D	0.01%
GRFS	C	0.01%
NOMD	D	0.01%
IGT	F	0.01%
TAC	A	0.01%
BIRK	D	0.01%
MTLS	A	0.0%
RENB	F	0.0%
HL	D	0.0%
CALX	D	0.0%
TLRY	F	0.0%
CVAC	F	0.0%
ORMP	D	0.0%
AMRN	F	0.0%
GRVY	C	0.0%
ADAP	F	0.0%
EU	D	0.0%
TMC	F	0.0%
FREY	B	0.0%
MNTX	B	0.0%
INVZ	F	0.0%
NNOX	C	0.0%
NBTX	F	0.0%
NNDM	D	0.0%
DNN	B	0.0%
GSM	D	0.0%
SNDL	D	0.0%
CHGX	A	0.0%
ABCL	D	0.0%
SPNS	F	0.0%
IMTX	F	0.0%
JMIA	F	0.0%
ELBM	D	0.0%
PIXY	F	0.0%
SSYS	B	0.0%
CSIQ	F	0.0%
AUPH	B	0.0%
CSTM	F	0.0%
RDWR	B	0.0%
PDS	C	0.0%
HCM	D	0.0%
INMD	C	0.0%

SPDW Underweight 7 Positions Relative to DMCY

Symbol	Grade	Weight
EWT	D	-3.86%
EWJ	D	-3.26%
EIS	A	-0.81%
NXPI	D	-0.39%
FLUT	A	-0.28%
EWW	F	-0.28%
VALE	F	-0.11%