GWXvsPDNETF Comparison
VS
ETF 2
PDN
Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF
This fund is part of
DM Blended Cap
+0.41%
State Street SPDR S&P International Small Cap ETF (GWX) belongs to the DM Small Cap segment. Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is part of the DM Blended Cap segment. GWX's top 3 sector exposures are Non-Energy Materials, Industrials and Finance. In contrast, PDN's top sector exposures are Finance, Industrials and Non-Energy Materials. GWX is less expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.47% for PDN. GWX is up 10.24% year-to-date (YTD) with +$43M in YTD flows. PDN performs worse with 9.6% YTD performance, and -$40M in YTD flows. Run a side-by-side ETF comparison of GWX and PDN below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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GWX vs PDN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | GWX PDN | -2.34%-1.48% | +4.71%+1.72% | +10.24%+9.60% | +13.24%+12.28% | +74.95%+76.88% | +30.03%+37.82% |
| Flows | GWX PDN | +$4M- | +$18M-$7M | +$43M-$40M | +$31M-$57M | -$61M-$325M | -$18M-$152M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | GWX PDN | +12.07%+12.53% | +16.45%+14.22% | +15.09%+13.92% | +15.64%+14.99% |
| Max drawdown | GWX PDN | -5.70%-5.29% | -11.92%-11.76% | -15.78%-12.82% | -33.31%-32.12% |
| Max drawdown duration | GWX PDN | 49d55d | 66d163d | 219d211d | 1299d1053d |
Trading data
GWX | PDN | |
Last sale 10/29/2026 at 1:30 PM | $44.60 | $45.51 |
| Previous close 10/28/2026 | $44.71 | $45.47 |
| Consolidated volume 10/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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GWX | PDN | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/29/2026 at 1:30 PM
Live
Closed
GWX | PDN | |
|---|---|---|
| Last price | $44.60 | $45.51 |
| 1D performance | -0.25% | +0.09% |
| AuM | $903.30 M | $345.63 M |
| E/R | 0.4% | 0.47% |
Characteristics
GWX | PDN | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Invesco |
| Benchmark | S&P Developed Ex-U.S. Under USD2 Billion Index | RAFI Fundamental Select Developed ex-US 1500 Index |
| N° of holdings | 1977 | 1566 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 20, 2007 | September 27, 2007 |
| ESG | No | No |
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Exposure
Countries
GWX
Japan
36.88%
Republic of Korea
11.11%
Canada
10.31%
Australia
7.37%
United Kingdom
7.11%
Other
27.22%
PDN
Japan
28.92%
Canada
9.01%
United Kingdom
8.2%
Republic of Korea
7.82%
Other
46.05%
Sectors
GWX
Non-Energy Materi.
17.66%
Industrials
16.82%
Finance
16.27%
Technology
13.92%
Healthcare
7.51%
Other
27.82%
PDN
Finance
22.85%
Industrials
18.54%
Non-Energy Materi.
13.23%
Technology
10.16%
Consumer Non-Cycl.
7.9%
Consumer Cyclical.
7.19%
Other
20.13%
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Diversification
GWX
Total weight of top 15 holdings out of 15
3.98%
PDN
Total weight of top 15 holdings out of 15
3.55%
Top 15 holdings
Data as of August 31, 2026
GWX
Citizen Watch Co., Ltd.
0.31%
Centerra Gold, Inc.
0.31%
Tamarack Valley Energy Ltd.
0.30%
Keller Group Plc
0.28%
AT & S Austria Technologie & Systemtechnik AG
0.27%
The Awa Bank Ltd.
0.27%
Wesdome Gold Mines Ltd.
0.26%
Kanematsu Corp.
0.26%
Vault Minerals Ltd.
0.26%
JUSUNG ENGINEERING Co., Ltd.
0.26%
Ferrotec Corp.
0.26%
Meidensha Corp.
0.25%
Westgold Resources Ltd.
0.24%
AIXTRON SE
0.23%
Ero Copper Corp.
0.23%
PDN
Tower Semiconductor Ltd.
0.32%
Atlassian Corp.
0.28%
ASMPT Ltd.
0.27%
SSR Mining, Inc.
0.26%
Daewoo Engineering & Construction Co. Ltd.
0.24%
Evolution Mining Ltd.
0.24%
Salzgitter AG
0.23%
Aedifica SA
0.23%
Centerra Gold, Inc.
0.21%
Kulicke & Soffa Industries, Inc.
0.21%
Beazley Plc
0.21%
Jyske Bank A/S
0.21%
Hachijuni Nagano Bank, Ltd.
0.21%
Kyoto Financial Group, Inc.
0.21%
Singapore Exchange Ltd.
0.21%
Frequently asked questions about GWX and PDN
How have the GWX and PDN ETFs performed in 2026?
As of October 28, 2026, GWX is up 10.24% year-to-date (YTD), while PDN has returned 9.6%. That puts GWX better performer ahead so far this year.
Which ETF is attracting more investor money: GWX or PDN?
Year-to-date, the GWX ETF saw +$43M in flows, compared to -$40M for PDN.
Which ETF is more volatile: GWX or PDN?
Over the past year, GWX had a volatility of 16.45%, while PDN experienced 14.22%.
Which ETF is bigger: GWX or PDN?
As of October 28, 2026, GWX holds $903.30 M in assets under management (AUM), while PDN manages $345.63 M.
What sectors do the GWX and PDN ETFs invest in?
GWX leans toward sectors like Non-Energy Materials, Industrials and Finance. Meanwhile, PDN focuses on Finance, Industrials and Non-Energy Materials.
What are the top holdings of the GWX ETF and PDN ETF?
GWX top holdings include Citizen Watch Co., Ltd., Centerra Gold, Inc. and Tamarack Valley Energy Ltd.. PDN holds in its top three: Tower Semiconductor Ltd., Atlassian Corp. and ASMPT Ltd..
Which ETF is more diversified: GWX or PDN?
GWX holds 1979 securities with 3.98% of its assets in the top 15. PDN has 1566 securities and a top 15 weight of 3.55%.
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