SMLD.DE vs. VUAA.L
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and VUAA.L (Vanguard S&P 500 UCITS ETF USD Accumulation) are both exchange-traded funds - SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite, while VUAA.L is a S&P 500 fund tracking the S&P 500 Net Total Return. Both are passively managed. Over the past 5 years, SMLD.DE returned 25.24%/yr vs 14.78%/yr for VUAA.L. At a 0.36 correlation, their price movements are largely independent. SMLD.DE charges 0.50%/yr vs 0.07%/yr for VUAA.L.
Performance
SMLD.DE vs. VUAA.L - Performance Comparison
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Different Trading Currencies
SMLD.DE is traded in EUR, while VUAA.L is traded in USD. To make them comparable, the VUAA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMLD.DE achieves a 20.75% return, which is significantly higher than VUAA.L's 11.64% return.
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
VUAA.L
- 1D
- 0.00%
- 1M
- 5.25%
- YTD
- 11.64%
- 6M
- 11.50%
- 1Y
- 25.73%
- 3Y*
- 18.93%
- 5Y*
- 14.78%
- 10Y*
- —
SMLD.DE vs. VUAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | -6.39% |
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation | 11.57% | 3.44% | 33.54% | 22.89% | -13.59% | 39.02% | 7.96% | 12.33% |
Correlation
The correlation between SMLD.DE and VUAA.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 17, 2019 | 0.36 |
Over the past year, the correlation between SMLD.DE and VUAA.L has dropped to 0.07 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
SMLD.DE vs. VUAA.L — Risk / Return Rank
SMLD.DE
VUAA.L
SMLD.DE vs. VUAA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) 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.
| SMLD.DE | VUAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.39 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 3.62 | -2.70 |
| Martin ratioReturn relative to average drawdown | 1.91 | 12.41 | -10.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLD.DE | VUAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 2.06 | -1.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.93 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.87 | -0.58 |
Drawdowns
SMLD.DE vs. VUAA.L - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -73.78%, which is greater than VUAA.L's maximum drawdown of -33.55%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and VUAA.L.
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Drawdown Indicators
| SMLD.DE | VUAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -33.55% | -40.23% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -7.08% | -7.69% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | -22.52% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -22.52% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -70.79% | — | — |
Current DrawdownCurrent decline from peak | -3.47% | -0.33% | -3.14% |
Average DrawdownAverage peak-to-trough decline | -17.76% | -4.74% | -13.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 2.07% | +5.09% |
Volatility
SMLD.DE vs. VUAA.L - Volatility Comparison
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a higher volatility of 5.38% compared to Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) at 3.08%. This indicates that SMLD.DE'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.
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Volatility by Period
| SMLD.DE | VUAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 3.08% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 8.64% | +4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.64% | 12.41% | +14.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 15.94% | +6.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 17.81% | +16.89% |
SMLD.DE vs. VUAA.L - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is higher than VUAA.L's 0.07% expense ratio.
Dividends
SMLD.DE vs. VUAA.L - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.55%, while VUAA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
SMLD.DE and VUAA.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUAA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.L is cheaper with a 0.07% expense ratio, compared with 0.50% for SMLD.DE.
SMLD.DE is categorized as Energy Equities, while VUAA.L is S&P 500. SMLD.DE tracks Morningstar MLP Composite, while VUAA.L tracks S&P 500 Net Total Return. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.50% for SMLD.DE and 0.07% for VUAA.L.
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