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TDIV.AS vs. CSPX.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TDIV.AS vs. CSPX.AS

Last updated Jun 5, 2026

TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and CSPX.AS (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while CSPX.AS is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, TDIV.AS returned 12.02%/yr vs 14.96%/yr for CSPX.AS. A 0.67 correlation means they provide meaningful diversification when combined. TDIV.AS charges 0.38%/yr vs 0.07%/yr for CSPX.AS.

Performance

TDIV.AS vs. CSPX.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) and iShares Core S&P 500 UCITS ETF (CSPX.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TDIV.AS achieves a 9.89% return, which is significantly lower than CSPX.AS's 11.52% return. Over the past 10 years, TDIV.AS has underperformed CSPX.AS with an annualized return of 12.02%, while CSPX.AS has yielded a comparatively higher 14.96% annualized return.

TDIV.AS

1D
0.25%
1M
0.39%
YTD
9.89%
6M
12.84%
1Y
25.59%
3Y*
19.97%
5Y*
17.52%
10Y*
12.02%

CSPX.AS

1D
-0.10%
1M
5.25%
YTD
11.52%
6M
11.45%
1Y
25.69%
3Y*
18.87%
5Y*
14.77%
10Y*
14.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TDIV.AS vs. CSPX.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TDIV.AS
VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF		9.89%24.40%15.98%10.91%16.18%27.85%-10.17%20.97%-7.12%2.88%
CSPX.AS
iShares Core S&P 500 UCITS ETF		11.52%4.00%33.87%22.28%-14.24%40.26%7.72%32.99%-0.36%7.13%

Correlation

The correlation between TDIV.AS and CSPX.AS is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.40

Correlation (5Y)
Calculated over the trailing 5-year period

0.54

Correlation (10Y)
Calculated over the trailing 10-year period

0.67

Correlation (All Time)
Calculated using the full available price history since May 24, 2016

0.67

Over the past year, the correlation between TDIV.AS and CSPX.AS has dropped to 0.33 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF

iShares Core S&P 500 UCITS ETF

Often compared with TDIV.AS:
TDIV.AS vs. VHYL.ASTDIV.AS vs. SCHDTDIV.AS vs. JGPI.DETDIV.AS vs. FUSD.LTDIV.AS vs. VUSA.MITDIV.AS vs. FGQD.LTDIV.AS vs. QYLE.DE
Often compared with CSPX.AS:
CSPX.AS vs. CSPX.LCSPX.AS vs. VUSA.LCSPX.AS vs. VOOCSPX.AS vs. SPYCSPX.AS vs. CNDX.ASCSPX.AS vs. VUSD.LCSPX.AS vs. SPYL.DE

Return for Risk

TDIV.AS vs. CSPX.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TDIV.AS
TDIV.AS Risk / Return Rank: 8888
Overall Rank
TDIV.AS Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
TDIV.AS Sortino Ratio Rank: 8888
Sortino Ratio Rank
TDIV.AS Omega Ratio Rank: 8585
Omega Ratio Rank
TDIV.AS Calmar Ratio Rank: 9494
Calmar Ratio Rank
TDIV.AS Martin Ratio Rank: 8989
Martin Ratio Rank
CSPX.AS
CSPX.AS Risk / Return Rank: 7070
Overall Rank
CSPX.AS Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
CSPX.AS Sortino Ratio Rank: 6868
Sortino Ratio Rank
CSPX.AS Omega Ratio Rank: 7272
Omega Ratio Rank
CSPX.AS Calmar Ratio Rank: 7272
Calmar Ratio Rank
CSPX.AS Martin Ratio Rank: 7070
Martin Ratio Rank
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.

TDIV.AS vs. CSPX.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) and iShares Core S&P 500 UCITS ETF (CSPX.AS). 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.

TDIV.ASCSPX.ASDifference
Sharpe ratioReturn per unit of total volatility
2.79
2.25

+0.54

Sortino ratioReturn per unit of downside risk
3.99
3.06

+0.93

Omega ratioGain probability vs. loss probability

1.51

1.42

+0.09

Calmar ratioReturn relative to maximum drawdown

7.19

3.57

+3.62

Martin ratioReturn relative to average drawdown

19.93

12.76

+7.17

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TDIV.AS vs. CSPX.AS - Sharpe Ratio Comparison

The current TDIV.AS Sharpe Ratio is 2.79, which is comparable to the CSPX.AS Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of TDIV.AS and CSPX.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TDIV.ASCSPX.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.79

2.25

+0.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.43

0.96

+0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.92

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.84

0.93

-0.09

Drawdowns

TDIV.AS vs. CSPX.AS - Drawdown Comparison

The maximum TDIV.AS drawdown since its inception was -36.06%, which is greater than CSPX.AS's maximum drawdown of -33.65%. Use the drawdown chart below to compare losses from any high point for TDIV.AS and CSPX.AS.

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Drawdown Indicators

TDIV.ASCSPX.ASDifference

Max Drawdown

Largest peak-to-trough decline

-36.06%

-33.65%

-2.41%

Max Drawdown (1Y)

Largest decline over 1 year

-3.51%

-7.11%

+3.60%

Max Drawdown (3Y)

Largest decline over 3 years

-15.26%

-23.37%

+8.11%

Max Drawdown (5Y)

Largest decline over 5 years

-15.26%

-23.37%

+8.11%

Max Drawdown (10Y)

Largest decline over 10 years

-36.06%

-33.65%

-2.41%

Current Drawdown

Current decline from peak

-1.99%

-0.40%

-1.59%

Average Drawdown

Average peak-to-trough decline

-3.93%

-4.28%

+0.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.26%

2.00%

-0.74%

Volatility

TDIV.AS vs. CSPX.AS - Volatility Comparison

The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) is 2.38%, while iShares Core S&P 500 UCITS ETF (CSPX.AS) has a volatility of 2.59%. This indicates that TDIV.AS experiences smaller price fluctuations and is considered to be less risky than CSPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TDIV.ASCSPX.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.38%

2.59%

-0.21%

Volatility (6M)

Calculated over the trailing 6-month period

6.65%

7.37%

-0.72%

Volatility (1Y)

Calculated over the trailing 1-year period

9.06%

11.26%

-2.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.07%

15.13%

-3.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.31%

16.05%

-1.74%

TDIV.AS vs. CSPX.AS - Expense Ratio Comparison

TDIV.AS has a 0.38% expense ratio, which is higher than CSPX.AS's 0.07% expense ratio.

Dividends

TDIV.AS vs. CSPX.AS - Dividend Comparison

TDIV.AS's dividend yield for the trailing twelve months is around 3.19%, while CSPX.AS has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
CSPX.AS
iShares Core S&P 500 UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
TDIV.AS
VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF		3.19%3.58%4.19%4.98%4.55%3.98%4.12%4.40%4.93%3.95%1.11%

Frequently Asked Questions

TDIV.AS and CSPX.AS have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CSPX.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.38% for TDIV.AS.

TDIV.AS is categorized as Global Equity Income, while CSPX.AS is S&P 500. TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while CSPX.AS tracks S&P 500 Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.38% for TDIV.AS and 0.07% for CSPX.AS.

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