SPYM vs. VEUA.L

Last updated Jun 7, 2026

SPYM (State Street SPDR Portfolio S&P 500 ETF) and VEUA.L (Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 Index, while VEUA.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, SPYM returned 13.39%/yr vs 8.69%/yr for VEUA.L. A 0.54 correlation means they provide meaningful diversification when combined. SPYM charges 0.02%/yr vs 0.10%/yr for VEUA.L.

Performance

SPYM vs. VEUA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 ETF (SPYM) and Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPYM is traded in USD, while VEUA.L is traded in GBP. To make them comparable, the VEUA.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPYM achieves a 8.48% return, which is significantly higher than VEUA.L's 5.08% return.

SPYM

• 1D: -2.58%
• 1M: 0.82%
• YTD: 8.48%
• 6M: 8.21%
• 1Y: 24.61%
• 3Y*: 21.54%
• 5Y*: 13.39%
• 10Y*: 15.25%

VEUA.L

• 1D: -1.23%
• 1M: -0.17%
• YTD: 5.08%
• 6M: 8.35%
• 1Y: 16.64%
• 3Y*: 16.60%
• 5Y*: 8.69%
• 10Y*: —

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

SPYM vs. VEUA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPYM State Street SPDR Portfolio S&P 500 ETF	8.48%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	8.01%
VEUA.L Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating	5.08%	35.58%	2.75%	19.45%	-14.45%	15.77%	6.24%	-3.28%

Correlation

The correlation between SPYM and VEUA.L is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019	0.54

The correlation between SPYM and VEUA.L has been stable across timeframes, ranging from 0.48 to 0.58 - a consistent structural relationship.

SPYM vs. VEUA.L - Sectors Allocation Comparison

Sectors	SPYM	VEUA.L
Technology	38.5%	8.5%
Financial Services	11.1%	24.0%
Communication Services	10.6%	3.0%
Consumer Cyclical	9.9%	6.6%
Healthcare	8.4%	12.9%
Industrials	7.6%	19.7%
Consumer Defensive	4.6%	8.3%
Energy	3.2%	5.3%
Utilities	2.5%	5.0%
Real Estate	1.8%	1.1%
Basic Materials	1.7%	5.6%

Return for Risk

SPYM vs. VEUA.L — Risk / Return Rank

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

SPYM

SPYM Risk / Return Rank: 66
SPYM Sharpe Ratio Rank: 66
SPYM Sortino Ratio Rank: 64
SPYM Omega Ratio Rank: 67
SPYM Calmar Ratio Rank: 60
SPYM Martin Ratio Rank: 73

VEUA.L

VEUA.L Risk / Return Rank: 45
VEUA.L Sharpe Ratio Rank: 48
VEUA.L Sortino Ratio Rank: 48
VEUA.L Omega Ratio Rank: 50
VEUA.L Calmar Ratio Rank: 39
VEUA.L Martin Ratio Rank: 42

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.

SPYM vs. VEUA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) and Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.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.

	SPYM	VEUA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.14	+1.01
Sortino ratio: Return per unit of downside risk	2.90	1.69	+1.21
Omega ratio: Gain probability vs. loss probability	1.39	1.21	+0.18
Calmar ratio: Return relative to maximum drawdown	2.92	1.42	+1.50
Martin ratio: Return relative to average drawdown	13.53	5.04	+8.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYM vs. VEUA.L - Sharpe Ratio Comparison

The current SPYM Sharpe Ratio is 2.15, which is higher than the VEUA.L Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of SPYM and VEUA.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

	SPYM	VEUA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.14	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.46	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.43	+0.18

Drawdowns

SPYM vs. VEUA.L - Drawdown Comparison

The maximum SPYM drawdown since its inception was -54.46%, which is greater than VEUA.L's maximum drawdown of -37.85%. Use the drawdown chart below to compare losses from any high point for SPYM and VEUA.L.

Drawdown Indicators

	SPYM	VEUA.L	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-37.85%	-16.61%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-11.65%	+2.75%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-13.89%	-4.83%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	-31.84%	+7.36%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	—	—
Current Drawdown Current decline from peak	-2.90%	-2.97%	+0.07%
Average Drawdown Average peak-to-trough decline	-7.15%	-7.37%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	3.29%	-1.37%

Volatility

SPYM vs. VEUA.L - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 ETF (SPYM) is 3.73%, while Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) has a volatility of 4.27%. This indicates that SPYM experiences smaller price fluctuations and is considered to be less risky than VEUA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYM	VEUA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	4.27%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	12.07%	-2.77%
Volatility (1Y) Calculated over the trailing 1-year period	12.09%	14.55%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	18.96%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	20.49%	-2.47%

SPYM vs. VEUA.L - Expense Ratio Comparison

SPYM has a 0.02% expense ratio, which is lower than VEUA.L's 0.10% 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

SPYM vs. VEUA.L - Dividend Comparison

SPYM's dividend yield for the trailing twelve months is around 1.02%, while VEUA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYM State Street SPDR Portfolio S&P 500 ETF	1.02%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%
VEUA.L Vanguard FTSE Developed Europe UCITS ETF (EUR) 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 SPYM and VEUA.L in my portfolio?

SPYM and VEUA.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYM or VEUA.L?

On fees, SPYM is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYM or VEUA.L?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.10% for VEUA.L.

What is the main difference between SPYM and VEUA.L?

SPYM is categorized as S&P 500, while VEUA.L is Europe Equities. SPYM tracks S&P 500 Index, while VEUA.L tracks MSCI Europe NR EUR. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.02% for SPYM and 0.10% for VEUA.L.