SPDR MSCI World StrategicFactors ETF

SPDR MSCI World StrategicFactors ETF (QWLD) is a State Street fund that tracks the MSCI World Factor Mix A-Series Index. As of June 30, 2026, it held 1,262 large and mid-size stocks across developed markets. Its index splits its weight evenly across three styles: cheaper "value" stocks, steadier "minimum volatility" stocks and highly profitable "quality" companies. The trade-off is cost. Its 0.30% expense ratio is well above the 0.07% average of similar funds.

• Over the year to Oct 27, 2026, QWLD returned +13.0%, 3rd of 9 among similar funds.
• Its 5-year annualized return was +10.1% and its 10-year +12.1%.
• In the 2020 COVID crash it fell 31.8% and regained its old high 7.6 months after the low.
• Its worst full calendar year was 2022 (-13.3%); its best was 2019 (+27.6%).
• The deepest fall in its price history was 31.9% (Feb 12, 2020 to Mar 23, 2020), recovered by Nov 9, 2020.

As of Jun 30, 2026, the fund held 1,262 securities; the ten largest made up 16.87% of assets, and 2.43% sat in cash and money-market holdings.

By sector

• Over the three months to Jun 30, 2026, investors withdrew a net $19.0M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.47%, +2.06%, -0.18%.

QWLD, managed by State Street's SSGA Funds Management, tracks the MSCI World Factor Mix A-Series Index. The index covers large and mid-sized companies in 23 developed countries. It blends three MSCI World indexes, each built around a stock trait, or "factor." The Value Weighted index tilts toward cheaper stocks. The Minimum Volatility index aims for the smallest price swings within set limits. The Quality index favors companies with high return on equity (profit relative to shareholders' money), steady earnings growth and little debt.

Every stock in each of the three indexes goes into the blend. A stock's final weight combines its weights across the three, so a company found in more than one collects weight from each. Twice a year, usually on the last business day of May and November, the index rebalances, resetting each of the three to one-third. The index held 1,321 securities as of November 30, 2025.

The fund uses sampling, meaning it need not own every index member. It must keep at least 80% of its assets in index stocks or depositary receipts (certificates that represent foreign shares). As of June 30, 2026, it had 1,262 holdings, led by Microsoft, Apple and NVIDIA at about 2.2% to 2.3% each. It may use futures and cash to handle money moving in and out. The fund uses no leverage and no options strategy.

• QWLD charges 0.3% a year, versus an average of 0.07% for the similar funds below (9th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $31 in the first year and $381 over 10 years (assuming a 5% annual return).

It holds more than 1,200 large and mid-size stocks across 23 developed countries, with a tilt toward steadier, cheaper and more profitable companies.

QWLD puts US and international developed-market stocks in one fund. It is still a stock fund, and it falls hard in crashes. It dropped 31.8% in the 2020 COVID crash and took 7.6 months to recover. In the 2022 bear market it fell 22.8% and needed 14 months to recover. Its worst calendar year was 2022, at -13.39%. The fund launched in 2014, so it has no record from 2008. A retiree who has to withdraw money during drops like these would lock in losses.

Income is modest. The trailing yield was 1.75% as of October 27, 2026, paid twice a year. In the SEC's standard example, $10,000 invested would cost about $381 over 10 years. Past results don't predict future returns. A plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.