SPDW: Ex-U.S. Developed Markets Are Hot, And It's Not About The Dollar

2026-02-19 06:00:00 ET

Let’s do some myth-busting. Over the past year, international stocks have smoked U.S. equities. The State Street SPDR Portfolio Devt World ex-US ETF ( SPDW ) is up 37%, dividends included. The S&P 500 ETF ( SPY ) has returned 14%. Now, some assert that U.S. vs. ex-U.S. is merely a play on the dollar. The data does not bear that out. ...

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