ETF Copilot
Developed ex-US

Is GWX a good investment?

Updated October 28, 2026

State Street SPDR S&P International Small Cap ETF (GWX) is a developed ex-US international ETF. As of October 28, 2026, ETF Copilot scores GWX 3.3 out of 10 — highest on Value (5.4), lowest on Quality (0.7). It trades at 13.5 times earnings, against its own median of 13.6. Its ten largest holdings are 2% of the fund.

What stands out in GWX's data

Developed ex-US small caps, held through a cap-weighted index.

Earns less on its capital than most peers — a drag that must be offset by other strengths.

Return on equity of 10.7% trails the 15.1% category median. Its 13.5x trailing P/E multiple sits below the 15.8x peer norm, offering a cheaper entry.

A broad diversifier in developed ex-U.S. small-cap exposure — a deeper dive into smaller global companies than most funds offer.

Why did GWX move this week? It fell 0.6% in the week to October 28, 2026 — DGB Financial and NHN Entertainment drove it

GWX fell 0.6% in the week to October 28, 2026. The holdings that moved it most were DGB Financial (−8.8%), NHN Entertainment (−14.1%) and ST Pharm (−17.7%); Radware (+22.7%) pushed the other way.

How is GWX rated? ETF Copilot scores State Street SPDR S&P International Small Cap ETF (GWX) 3.3 out of 10

As of October 28, 2026, ETF Copilot scores State Street SPDR S&P International Small Cap ETF (GWX) 3.3 out of 10 overall.

ETF Copilot scores (0–10 scale, higher is better):

  • Overall: 3.3 / 10
  • Growth: 3.3 / 10
  • Value: 5.4 / 10
  • Risk: 4.4 / 10
  • Quality: 0.7 / 10
  • Return: 2.9 / 10

Is GWX expensive right now? It trades at 13.5 times earnings, against its own median of 13.6

As of October 28, 2026, GWX is cheaper than 56% of its own last 9 years.

Trailing 12 months, built from GWX's holdings. How we calculate this →

What's inside GWX? 14% Tech

What's inside GWX: Size (Large 0%, Mid 0%, Small 100%); Geography (International 99%, US 1%); Tech 13.6%; Semiconductors 1.8%.

What are GWX's top holdings? The ten largest are 2% of the fund

Less concentrated than 98% of Developed ex-US ETFs.

Half of GWX's weight sits in its 495 largest positions, and once those weights are taken into account it behaves like 1314 equally weighted holdings.

What is GWX's expense ratio? 0.40% a year

As of October 28, 2026, GWX charges 0.40% a year, yields 2.69% and holds $904M in assets across 2013 positions.

State Street SPDR S&P International Small Cap ETF (GWX) — cost, income and size
MeasureGWX
Expense ratio0.40%
Dividend yield2.69%
Assets under management$904M
Holdings2013

Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.

Cite this

ETF Copilot, “State Street SPDR S&P International Small Cap ETF (GWX) scores and holdings analysis”, as of October 28, 2026.
https://etf-copilot.com/etf/gwx

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