GWXvsPDNETF Comparison
VS
ETF 2
PDN
Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF
This fund is part of
DM Blended Cap
+0.78%
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 Industrials, Finance and Non-Energy Materials. 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 14.38% year-to-date (YTD) with +$38M in YTD flows. PDN performs worse with 13.1% 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 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | GWX PDN | +0.94%+0.52% | +5.34%+4.26% | +14.38%+13.10% | +18.33%+16.78% | +64.30%+67.26% | +31.90%+39.70% |
| Flows | GWX PDN | +$9M-$7M | +$27M-$7M | +$38M-$40M | +$26M-$57M | -$65M-$325M | -$20M-$148M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | GWX PDN | +15.51%+13.20% | +16.39%+14.21% | +15.20%+13.99% | +15.64%+14.98% |
| Max drawdown | GWX PDN | -7.75%-4.08% | -11.92%-11.76% | -15.78%-12.82% | -34.53%-33.11% |
| Max drawdown duration | GWX PDN | 53d49d | 66d163d | 219d211d | 1366d1323d |
Trading data
GWX | PDN | |
Last sale 9/14/2026 at 1:30 PM | $45.98 | $46.84 |
| Previous close 09/11/2026 | $46.40 | $47.20 |
| Consolidated volume 09/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 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 9/14/2026 at 1:30 PM
Live
Closed
GWX | PDN | |
|---|---|---|
| Last price | $45.98 | $46.84 |
| 1D performance | -0.91% | -0.76% |
| AuM | $932.67 M | $359.02 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 | 1569 |
| 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
37.76%
Canada
9.92%
Republic of Korea
9.87%
Australia
7.43%
United Kingdom
7.25%
Other
27.76%
PDN
Japan
29.23%
Canada
8.92%
United Kingdom
8.37%
Other
53.48%
Sectors
GWX
Industrials
17.05%
Finance
16.85%
Non-Energy Materi.
16.65%
Technology
13.93%
Healthcare
7.41%
Consumer Cyclical.
7.16%
Other
20.95%
PDN
Finance
23.26%
Industrials
18.37%
Non-Energy Materi.
12.14%
Technology
9.92%
Consumer Non-Cycl.
8.3%
Consumer Cyclical.
7.38%
Other
20.62%
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Diversification
GWX
Total weight of top 15 holdings out of 15
3.75%
PDN
Total weight of top 15 holdings out of 15
3.3%
Top 15 holdings
Data as of July 31, 2026
GWX
Tamarack Valley Energy Ltd.
0.32%
Keller Group Plc
0.30%
Mega Or Holdings Ltd.
0.26%
Kanematsu Corp.
0.26%
Citizen Watch Co., Ltd.
0.25%
Centerra Gold, Inc.
0.25%
AT & S Austria Technologie & Systemtechnik AG
0.25%
AIXTRON SE
0.25%
Ferrotec Corp.
0.25%
The Awa Bank Ltd.
0.24%
Hoist Finance AB
0.23%
The Kiyo Bank, Ltd.
0.23%
IMAX Corp.
0.22%
Kitron ASA
0.22%
Bufab AB
0.22%
PDN
Tower Semiconductor Ltd.
0.30%
Aedifica SA
0.25%
ASMPT Ltd.
0.23%
Kulicke & Soffa Industries, Inc.
0.22%
Beazley Plc
0.22%
Sopra Steria Group SA
0.22%
SIG Group AG
0.21%
Vår Energi ASA
0.21%
Salzgitter AG
0.21%
Horiba Ltd.
0.21%
Singapore Exchange Ltd.
0.21%
Getinge AB
0.21%
Hachijuni Nagano Bank, Ltd.
0.21%
Elbit Systems Ltd.
0.20%
Nokian Renkaat Oyj
0.20%
Frequently asked questions about GWX and PDN
How have the GWX and PDN ETFs performed in 2026?
As of September 11, 2026, GWX is up 14.38% year-to-date (YTD), while PDN has returned 13.1%. 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 +$38M in flows, compared to -$40M for PDN.
Which ETF is more volatile: GWX or PDN?
Over the past year, GWX had a volatility of 16.39%, while PDN experienced 14.21%.
Which ETF is bigger: GWX or PDN?
As of September 11, 2026, GWX holds $932.67 M in assets under management (AUM), while PDN manages $359.02 M.
What sectors do the GWX and PDN ETFs invest in?
GWX leans toward sectors like Industrials, Finance and Non-Energy Materials. 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 Tamarack Valley Energy Ltd., Keller Group Plc and Mega Or Holdings Ltd.. PDN holds in its top three: Tower Semiconductor Ltd., Aedifica SA and ASMPT Ltd..
Which ETF is more diversified: GWX or PDN?
GWX holds 1978 securities with 3.75% of its assets in the top 15. PDN has 1569 securities and a top 15 weight of 3.3%.
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