SPDR Bloomberg Short Term International… (BWZ) Performance
BWZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.9% since Dec 31, 2025
- 1 year
- −0.4% total return
- 5 years
- −1.3% a year
- 10 years
- −0.3% a year
- Since first price
- −0.3% a year since 2009
BWZ trailing returns vs AGG, TLT, SPY
| Period | BWZ total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.1% | −0.1% | +0.9% | +1.5% | −1.0% |
| 3 months | +1.3% | +0.7% | −0.4% | −1.0% | +3.2% |
| 6 months | −0.6% | −1.6% | −1.5% | −3.8% | +7.8% |
| YTD | −0.9% | −2.4% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.4% | −2.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +10.5%+3.4%/yr | +3.5% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −6.2%−1.3%/yr | −14.0% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | −3.4%−0.3%/yr | −13.5% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | −18.9%−1.4%/yr | −29.5% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionJan 27, 2009 | −4.5%−0.3%/yr | −19.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BWZ vs AGG
From Jan 27, 2009: BWZ grew to $9,553, AGG to $15,629.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BWZ returns by calendar year
7 of 16 full years positive. Best 2025 (+10.5%), worst 2022 (−10.6%). 2026 is year to date.
BWZ annual returns table
| Year | BWZ | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.9% | −5.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +10.5% | −4.2% | +7.2% | +4.3% | +17.7% |
| 2024 | −5.3% | −7.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +3.0% | −6.8% | +5.7% | +2.8% | +26.2% |
| 2022 | −10.6% | −19.3% | −13.0% | −31.2% | −18.2% |
| 2021 | −6.8% | −8.4% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.5% | −7.7% | +7.5% | +18.2% | +18.3% |
| 2019 | +1.0% | −2.6% | +8.5% | +14.1% | +31.2% |
| 2018 | −3.4% | −8.7% | +0.1% | −1.6% | −4.6% |
| 2017 | +10.2% | −3.9% | +3.6% | +9.2% | +21.7% |
| 2016 | −1.5% | −9.8% | +2.4% | +1.2% | +12.0% |
| 2015 | −7.7% | −7.9% | +0.5% | −1.8% | +1.2% |
| 2014 | −9.8% | −12.2% | +6.0% | +27.3% | +13.5% |
| 2013 | −2.2% | −6.4% | −2.0% | −13.4% | +32.3% |
| 2012 | +3.0% | −5.8% | +3.8% | +2.6% | +16.0% |
| 2011 | −0.5% | −8.4% | +7.7% | +34.0% | +1.9% |
| 2010 | +1.8% | −11.2% | +6.4% | +9.0% | +15.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BWZ largest drawdowns
Now 22.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 29, 2011 | −34.2% | Sep 27, 2022 | not yet | 11.1 years | 15.2 years so far |
| Dec 1, 2009 | −13.7% | Jun 7, 2010 | Nov 4, 2010 | 6 months | 11 months |
| Nov 4, 2010 | −6.6% | Dec 21, 2010 | Jan 26, 2011 | 47 days | 3 months |
| Feb 9, 2009 | −5.6% | Mar 3, 2009 | Mar 18, 2009 | 22 days | 37 days |
| Jan 26, 2011 | −5.1% | Feb 22, 2011 | Apr 26, 2011 | 27 days | 3 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
BWZ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +3.5% | −1.2% | −0.6% | −0.2% |
| Volatility (annualized) | 7.5% | 8.2% | 7.0% | 7.4% |
| Sharpe ratio | -0.08 | -0.56 | -0.39 | -0.17 |
| Sortino ratio | -0.11 | -0.70 | -0.50 | -0.23 |
| Best month | +4.9% | +6.2% | +6.2% | +6.2% |
| Worst month | −4.1% | −4.9% | −4.9% | −5.6% |
| Best 12 months | +12.0% | +12.0% | +12.0% | +17.7% |
| Worst 12 months | −5.3% | −19.0% | −19.0% | −19.0% |
| Positive months | 56% | 47% | 48% | 47% |
| Beta vs S&P 500 | 0.19 | 0.25 | 0.19 | — |
| Correlation with S&P 500 | 0.32 | 0.48 | 0.42 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BWZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 202 | −19.0% | −0.1% | +17.7% | 50% |
| 3-year (a year) | 178 | −7.0% | −0.5% | +7.0% | 43% |
| 5-year (a year) | 154 | −4.3% | −2.0% | +3.7% | 19% |
| 10-year (a year) | 94 | −3.5% | −1.3% | +0.4% | 10% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
BWZ performance overview
SPDR Bloomberg Short Term International… (BWZ) returned −0.4% over the past year and −0.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned −0.3% a year, turning $10,000 into about $9,553. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −34.2%, from Aug 29, 2011 to Sep 27, 2022; the fund has not yet regained that high. BWZ finished 7 of its 16 full calendar years with a gain; the best year was 2025 (+10.5%) and the worst 2022 (−10.6%). Volatility has been 7.4% a year.
Related: BWZ chart, BWZ dividends, BWZ bond profile. See the BWZ overview for the latest quote and fund facts.
BWZ performance FAQ
What is the BWZ return over the past year?
BWZ returned −0.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.5%.
What is the average annual return of BWZ?
BWZ has returned −1.3% a year over 5 years, −0.3% a year over 10 years, −0.3% a year since January 27, 2009 (total return, distributions reinvested).
How much would $10,000 invested in BWZ be worth?
$10,000 invested in BWZ at its first recorded close on January 27, 2009 would be worth about $9,553 on October 23, 2026 with distributions reinvested.
What was the worst year for BWZ?
The worst calendar year was 2022, with a total return of −10.6%. The best was 2025 at +10.5%.
What is the biggest drawdown of BWZ?
The largest peak-to-trough decline was −34.2% between August 29, 2011 and September 27, 2022. It has not yet recovered to that high; it is 22.6% below its peak.
How volatile is BWZ?
Over the past 3 years BWZ had an annualized volatility of 7.5% and a Sharpe ratio of -0.08 (excess return over 1–3 month T-bills per unit of risk).