SPY vs. VWRA.L

Last updated Jun 9, 2026

SPY (State Street SPDR S&P 500 ETF) and VWRA.L (Vanguard FTSE All-World UCITS ETF USD Accumulating) are both exchange-traded funds - SPY is a S&P 500 fund tracking the S&P 500 Index, while VWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, SPY returned 13.42%/yr vs 10.76%/yr for VWRA.L. A 0.59 correlation means they provide meaningful diversification when combined. SPY charges 0.09%/yr vs 0.22%/yr for VWRA.L.

Performance

SPY vs. VWRA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ETF (SPY) and Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPY achieves a 8.70% return, which is significantly lower than VWRA.L's 9.28% return.

SPY

• 1D: 0.23%
• 1M: 0.22%
• YTD: 8.70%
• 6M: 8.75%
• 1Y: 24.79%
• 3Y*: 21.35%
• 5Y*: 13.42%
• 10Y*: 15.27%

VWRA.L

• 1D: -0.48%
• 1M: 0.14%
• YTD: 9.28%
• 6M: 10.70%
• 1Y: 25.68%
• 3Y*: 20.08%
• 5Y*: 10.76%
• 10Y*: —

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

SPY vs. VWRA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPY State Street SPDR S&P 500 ETF	8.70%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	9.08%
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating	9.28%	22.45%	17.65%	22.28%	-18.11%	18.46%	16.19%	7.42%

Correlation

The correlation between SPY and VWRA.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jul 23, 2019	0.59

The correlation between SPY and VWRA.L shifts across timeframes, from 0.58 (3 years) to 0.69 (1 year), reflecting how their relationship changes across market environments.

SPY vs. VWRA.L - Sectors Allocation Comparison

Sectors	SPY	VWRA.L
Technology	35.9%	31.1%
Financial Services	11.8%	16.0%
Communication Services	11.3%	9.1%
Consumer Cyclical	10.3%	9.1%
Healthcare	8.4%	8.2%
Industrials	7.8%	9.8%
Consumer Defensive	4.8%	4.8%
Energy	3.6%	4.3%
Utilities	2.4%	2.7%
Real Estate	1.9%	1.4%
Basic Materials	1.8%	3.3%

Return for Risk

SPY vs. VWRA.L — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 69
SPY Sharpe Ratio Rank: 70
SPY Sortino Ratio Rank: 67
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

VWRA.L

VWRA.L Risk / Return Rank: 70
VWRA.L Sharpe Ratio Rank: 69
VWRA.L Sortino Ratio Rank: 76
VWRA.L Omega Ratio Rank: 70
VWRA.L Calmar Ratio Rank: 64
VWRA.L Martin Ratio Rank: 72

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.

SPY vs. VWRA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.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.

	SPY	VWRA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.05	+0.01
Sortino ratio: Return per unit of downside risk	2.78	3.04	-0.26
Omega ratio: Gain probability vs. loss probability	1.38	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.80	2.91	-0.11
Martin ratio: Return relative to average drawdown	12.93	12.14	+0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPY vs. VWRA.L - Sharpe Ratio Comparison

The current SPY Sharpe Ratio is 2.06, which is comparable to the VWRA.L Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SPY and VWRA.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

	SPY	VWRA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.05	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.70	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.76	-0.18

Drawdowns

SPY vs. VWRA.L - Drawdown Comparison

The maximum SPY drawdown since its inception was -55.19%, which is greater than VWRA.L's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for SPY and VWRA.L.

Drawdown Indicators

	SPY	VWRA.L	Difference
Max Drawdown Largest peak-to-trough decline	-55.19%	-33.62%	-21.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-8.78%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-16.26%	-2.50%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-26.06%	+1.56%
Max Drawdown (10Y) Largest decline over 10 years	-33.72%	—	—
Current Drawdown Current decline from peak	-2.68%	-2.80%	+0.12%
Average Drawdown Average peak-to-trough decline	-9.04%	-5.37%	-3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.11%	-0.19%

Volatility

SPY vs. VWRA.L - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ETF (SPY) is 3.72%, while Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L) has a volatility of 3.96%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than VWRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY	VWRA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.96%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	9.93%	-0.62%
Volatility (1Y) Calculated over the trailing 1-year period	12.10%	12.51%	-0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	15.35%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.96%	17.24%	+0.72%

SPY vs. VWRA.L - Expense Ratio Comparison

SPY has a 0.09% expense ratio, which is lower than VWRA.L's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPY vs. VWRA.L - Dividend Comparison

SPY's dividend yield for the trailing twelve months is around 1.00%, while VWRA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	1.00%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating	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

Can I hold both SPY and VWRA.L in my portfolio?

SPY and VWRA.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPY or VWRA.L?

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPY or VWRA.L?

SPY is cheaper with a 0.09% expense ratio, compared with 0.22% for VWRA.L.

What is the main difference between SPY and VWRA.L?

SPY is categorized as S&P 500, while VWRA.L is Global Equities. SPY tracks S&P 500 Index, while VWRA.L tracks FTSE All-World Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.09% for SPY and 0.22% for VWRA.L.