GAW.L vs. VUAG.L

Last updated Jun 5, 2026

GAW.L (Games Workshop Group plc) is a stock, while VUAG.L (Vanguard S&P 500 UCITS ETF (USD) Accumulating) is S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, GAW.L returned 14.12%/yr vs 14.93%/yr for VUAG.L. At a 0.31 correlation, their price movements are largely independent.

Performance

GAW.L vs. VUAG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Games Workshop Group plc (GAW.L) and Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GAW.L is traded in GBp, while VUAG.L is traded in GBP. To make them comparable, the VUAG.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, GAW.L achieves a 1.82% return, which is significantly lower than VUAG.L's 10.56% return.

GAW.L

• 1D: -1.34%
• 1M: -4.14%
• YTD: 1.82%
• 6M: -2.35%
• 1Y: 23.19%
• 3Y*: 30.74%
• 5Y*: 14.12%
• 10Y*: 50.49%

VUAG.L

• 1D: 0.06%
• 1M: 5.53%
• YTD: 10.56%
• 6M: 10.46%
• 1Y: 29.14%
• 3Y*: 19.03%
• 5Y*: 14.93%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GAW.L vs. VUAG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GAW.L Games Workshop Group plc	1.82%	48.51%	40.33%	20.44%	-10.48%	-9.30%	87.31%	41.30%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	10.56%	9.36%	27.33%	19.67%	-8.88%	30.97%	201.05%	9.30%

Correlation

The correlation between GAW.L and VUAG.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 17, 2019	0.31

Return for Risk

GAW.L vs. VUAG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GAW.L

GAW.L Risk / Return Rank: 68
GAW.L Sharpe Ratio Rank: 69
GAW.L Sortino Ratio Rank: 69
GAW.L Omega Ratio Rank: 66
GAW.L Calmar Ratio Rank: 67
GAW.L Martin Ratio Rank: 67

VUAG.L

VUAG.L Risk / Return Rank: 82
VUAG.L Sharpe Ratio Rank: 84
VUAG.L Sortino Ratio Rank: 83
VUAG.L Omega Ratio Rank: 85
VUAG.L Calmar Ratio Rank: 80
VUAG.L Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GAW.L vs. VUAG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Games Workshop Group plc (GAW.L) and Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GAW.L	VUAG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.73	-1.85
Sortino ratio: Return per unit of downside risk	1.69	3.66	-1.97
Omega ratio: Gain probability vs. loss probability	1.20	1.51	-0.31
Calmar ratio: Return relative to maximum drawdown	1.38	4.08	-2.70
Martin ratio: Return relative to average drawdown	3.04	14.96	-11.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAW.L vs. VUAG.L - Sharpe Ratio Comparison

The current GAW.L Sharpe Ratio is 0.88, which is lower than the VUAG.L Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of GAW.L and VUAG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GAW.L	VUAG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	2.73	-1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	1.04	-0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.90	-0.30

Drawdowns

GAW.L vs. VUAG.L - Drawdown Comparison

The maximum GAW.L drawdown since its inception was -87.22%, which is greater than VUAG.L's maximum drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for GAW.L and VUAG.L.

Drawdown Indicators

	GAW.L	VUAG.L	Difference
Max Drawdown Largest peak-to-trough decline	-87.22%	-25.61%	-61.61%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-7.11%	-9.65%
Max Drawdown (3Y) Largest decline over 3 years	-20.65%	-20.88%	+0.23%
Max Drawdown (5Y) Largest decline over 5 years	-51.53%	-20.88%	-30.65%
Max Drawdown (10Y) Largest decline over 10 years	-51.53%	—	—
Current Drawdown Current decline from peak	-7.46%	-0.22%	-7.24%
Average Drawdown Average peak-to-trough decline	-27.98%	-3.51%	-24.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.62%	1.94%	+5.68%

Volatility

GAW.L vs. VUAG.L - Volatility Comparison

Games Workshop Group plc (GAW.L) has a higher volatility of 9.34% compared to Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) at 2.62%. This indicates that GAW.L's price experiences larger fluctuations and is considered to be riskier than VUAG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAW.L	VUAG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	2.62%	+6.72%
Volatility (6M) Calculated over the trailing 6-month period	16.70%	7.17%	+9.53%
Volatility (1Y) Calculated over the trailing 1-year period	26.49%	10.62%	+15.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.99%	14.32%	+16.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.36%	36.09%	-0.73%

Dividends

GAW.L vs. VUAG.L - Dividend Comparison

GAW.L's dividend yield for the trailing twelve months is around 2.54%, while VUAG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAW.L Games Workshop Group plc	2.54%	3.49%	3.08%	4.51%	3.50%	1.96%	1.65%	2.62%	4.28%	5.32%	6.31%	6.15%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	71.39%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GAW.L and VUAG.L in my portfolio?

GAW.L and VUAG.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.