SPGM vs. SCHE: Global vs. Emerging Markets ETF Comparison

Investors choosing between international equity exchange-traded funds often weigh the merits of a global portfolio against a narrower focus on developing economies, according to a recent analysis based on the State Street SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and the Schwab Emerging Markets Equity ETF (SCHE). The source material, published on May 17, 2026, compares these two funds directly.

The Schwab fund is slightly cheaper to hold, charging an expense ratio of 0.07% compared to 0.09% for the State Street fund. It also provides a higher trailing-12-month dividend yield of 2.60%, while the global ETF offers 1.70%. SCHE holds $12.8 billion in assets under management, far exceeding SPGM's $1.6 billion.

Over the past year as of May 11, 2026, SPGM delivered a total return of 29.58%, outpacing SCHE's 24.89%. However, the Schwab fund has a higher five-year maximum drawdown of negative 33.80%, versus negative 25.90% for the State Street fund. A hypothetical $1,000 investment in SPGM five years ago would have grown to $1,775 on a total return basis, while the same amount invested in SCHE would have reached $1,373.

The Schwab Emerging Markets Equity ETF seeks to track the FTSE Emerging Index and holds 2,211 securities. Its top holdings include Taiwan Semiconductor Manufacturing at 16.31%, Tencent at 3.44%, and Alibaba Group at 2.94%. The fund allocates 27% to technology and 22% to financial services, with a trailing-12-month payout of $0.94 per share. Launched in 2010, it has a beta of 0.87 relative to the S&P 500.

The State Street SPDR Portfolio MSCI Global Stock Market ETF tracks the MSCI ACWI IMI Index and holds 2,949 securities. Its largest positions are Nvidia at 4.37%, Apple at 3.54%, and Microsoft at 2.74%. The fund tilts 25% toward technology and 17% toward financial services, with a beta of 0.92. Launched in 2012, it paid $1.45 per share over the trailing 12 months.

For investors seeking exposure beyond solely domestic stocks, both funds provide access to international markets. The choice between them depends on factors such as desired geographic scope, cost, and risk tolerance, as the global fund offers developed and emerging markets while the emerging market fund focuses only on developing economies.

Making Data-Driven Decisions to Grow Your Business

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Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Producers on The Market and Their Profiles

This Chapter is Available Only for the Professional Edition PRO- 11.1United States

- Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Market Value: Historical Data (2012–2025) and Forecast (2026–2035)

- Per Capita Consumption, by Country, 2022–2025

- Production, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Market Value: Historical Data (2012–2025) and Forecast (2026–2035)

- Average Per Capita Consumption, By Product

- Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Production, In Physical Terms, by Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Imports, In Physical Terms, By Country, 2025

- Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)

- Exports, In Physical Terms, By Country, 2025

- Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

- Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)