MKGAF vs. VUAA.L

Last updated Apr 2, 2026

Compare and contrast key facts about Merck KGaA (MKGAF) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L).

VUAA.L is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Net Total Return. It was launched on May 14, 2019.

Performance

MKGAF vs. VUAA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Merck KGaA (MKGAF) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L). The values are adjusted to include any dividend payments, if applicable.

MKGAF vs. VUAA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MKGAF Merck KGaA	-16.08%	1.02%	-3.05%	-15.17%	-23.86%	66.27%	47.91%	14.83%
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation	-4.06%	17.37%	25.27%	26.68%	-18.63%	29.34%	17.66%	12.72%

Returns By Period

In the year-to-date period, MKGAF achieves a -16.08% return, which is significantly lower than VUAA.L's -4.06% return.

MKGAF

• 1D: 1.16%
• 1M: -19.41%
• YTD: -16.08%
• 6M: -13.43%
• 1Y: -5.33%
• 3Y*: -10.80%
• 5Y*: -2.19%
• 10Y*: 6.52%

VUAA.L

• 1D: 2.50%
• 1M: -3.64%
• YTD: -4.06%
• 6M: -0.94%
• 1Y: 18.29%
• 3Y*: 18.65%
• 5Y*: 11.80%
• 10Y*: —

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

Return for Risk

MKGAF vs. VUAA.L — Risk / Return Rank

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

MKGAF

MKGAF Risk / Return Rank: 30
MKGAF Sharpe Ratio Rank: 35
MKGAF Sortino Ratio Rank: 33
MKGAF Omega Ratio Rank: 33
MKGAF Calmar Ratio Rank: 29
MKGAF Martin Ratio Rank: 23

VUAA.L

VUAA.L Risk / Return Rank: 68
VUAA.L Sharpe Ratio Rank: 62
VUAA.L Sortino Ratio Rank: 62
VUAA.L Omega Ratio Rank: 63
VUAA.L Calmar Ratio Rank: 77
VUAA.L Martin Ratio Rank: 77

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.

MKGAF vs. VUAA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Merck KGaA (MKGAF) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.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.

	MKGAF	VUAA.L	Difference
Sharpe ratio Return per unit of total volatility	-0.11	1.14	-1.25
Sortino ratio Return per unit of downside risk	0.19	1.65	-1.46
Omega ratio Gain probability vs. loss probability	1.02	1.24	-0.22
Calmar ratio Return relative to maximum drawdown	-0.38	2.13	-2.50
Martin ratio Return relative to average drawdown	-0.97	8.63	-9.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MKGAF vs. VUAA.L - Sharpe Ratio Comparison

The current MKGAF Sharpe Ratio is -0.11, which is lower than the VUAA.L Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of MKGAF and VUAA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MKGAF	VUAA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	1.14	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	0.74	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.79	-0.65

Correlation

The correlation between MKGAF and VUAA.L is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MKGAF vs. VUAA.L - Dividend Comparison

MKGAF's dividend yield for the trailing twelve months is around 4.04%, while VUAA.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MKGAF Merck KGaA	4.04%	3.39%	3.11%	3.00%	2.05%	5.09%	0.85%	0.00%	1.48%	1.11%
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MKGAF vs. VUAA.L - Drawdown Comparison

The maximum MKGAF drawdown since its inception was -50.13%, which is greater than VUAA.L's maximum drawdown of -34.05%. Use the drawdown chart below to compare losses from any high point for MKGAF and VUAA.L.

Drawdown Indicators

	MKGAF	VUAA.L	Difference
Max Drawdown Largest peak-to-trough decline	-50.13%	-34.05%	-16.08%
Max Drawdown (1Y) Largest decline over 1 year	-24.31%	-11.75%	-12.56%
Max Drawdown (5Y) Largest decline over 5 years	-50.13%	-24.36%	-25.77%
Max Drawdown (10Y) Largest decline over 10 years	-50.13%	—	—
Current Drawdown Current decline from peak	-47.15%	-5.41%	-41.74%
Average Drawdown Average peak-to-trough decline	-19.54%	-5.20%	-14.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.40%	2.05%	+7.35%

Volatility

MKGAF vs. VUAA.L - Volatility Comparison

Merck KGaA (MKGAF) has a higher volatility of 16.10% compared to Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) at 4.87%. This indicates that MKGAF's price experiences larger fluctuations and is considered to be riskier than VUAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKGAF	VUAA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.10%	4.87%	+11.23%
Volatility (6M) Calculated over the trailing 6-month period	37.71%	8.72%	+28.99%
Volatility (1Y) Calculated over the trailing 1-year period	49.46%	16.07%	+33.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.08%	15.97%	+28.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.45%	17.88%	+20.57%