TDIV.AS vs. VUSA.AS

Last updated Jun 5, 2026

TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and VUSA.AS (Vanguard 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 VUSA.AS is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, TDIV.AS returned 12.02%/yr vs 14.95%/yr for VUSA.AS. A 0.67 correlation means they provide meaningful diversification when combined. TDIV.AS charges 0.38%/yr vs 0.07%/yr for VUSA.AS.

Performance

TDIV.AS vs. VUSA.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 Vanguard S&P 500 UCITS ETF (VUSA.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDIV.AS achieves a 9.89% return, which is significantly lower than VUSA.AS's 11.59% return. Over the past 10 years, TDIV.AS has underperformed VUSA.AS with an annualized return of 12.02%, while VUSA.AS has yielded a comparatively higher 14.95% 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%

VUSA.AS

• 1D: -0.11%
• 1M: 5.23%
• YTD: 11.59%
• 6M: 11.46%
• 1Y: 25.64%
• 3Y*: 18.84%
• 5Y*: 14.77%
• 10Y*: 14.95%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VUSA.AS Vanguard S&P 500 UCITS ETF	11.59%	3.90%	33.86%	22.12%	-14.18%	40.36%	7.72%	32.99%	-0.37%	6.68%

Correlation

The correlation between TDIV.AS and VUSA.AS is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
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 VUSA.AS has dropped to 0.32 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

TDIV.AS vs. VUSA.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: 88
TDIV.AS Sharpe Ratio Rank: 86
TDIV.AS Sortino Ratio Rank: 88
TDIV.AS Omega Ratio Rank: 85
TDIV.AS Calmar Ratio Rank: 94
TDIV.AS Martin Ratio Rank: 89

VUSA.AS

VUSA.AS Risk / Return Rank: 70
VUSA.AS Sharpe Ratio Rank: 69
VUSA.AS Sortino Ratio Rank: 67
VUSA.AS Omega Ratio Rank: 71
VUSA.AS Calmar Ratio Rank: 72
VUSA.AS Martin Ratio Rank: 70

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. VUSA.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 Vanguard S&P 500 UCITS ETF (VUSA.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.AS	VUSA.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.79	2.23	+0.56
Sortino ratio: Return per unit of downside risk	3.99	3.03	+0.96
Omega ratio: Gain probability vs. loss probability	1.51	1.42	+0.09
Calmar ratio: Return relative to maximum drawdown	7.19	3.55	+3.64
Martin ratio: Return relative to average drawdown	19.93	12.69	+7.24
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. VUSA.AS - Sharpe Ratio Comparison

The current TDIV.AS Sharpe Ratio is 2.79, which is comparable to the VUSA.AS Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of TDIV.AS and VUSA.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.

Sharpe Ratios by Period

	TDIV.AS	VUSA.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	2.23	+0.56
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. VUSA.AS - Drawdown Comparison

The maximum TDIV.AS drawdown since its inception was -36.06%, which is greater than VUSA.AS's maximum drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for TDIV.AS and VUSA.AS.

Drawdown Indicators

	TDIV.AS	VUSA.AS	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-33.64%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-3.51%	-7.13%	+3.62%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-23.24%	+7.98%
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	-23.24%	+7.98%
Max Drawdown (10Y) Largest decline over 10 years	-36.06%	-33.64%	-2.42%
Current Drawdown Current decline from peak	-1.99%	-0.43%	-1.56%
Average Drawdown Average peak-to-trough decline	-3.93%	-4.06%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	2.01%	-0.75%

Volatility

TDIV.AS vs. VUSA.AS - Volatility Comparison

The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) is 2.38%, while Vanguard S&P 500 UCITS ETF (VUSA.AS) has a volatility of 2.62%. This indicates that TDIV.AS experiences smaller price fluctuations and is considered to be less risky than VUSA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDIV.AS	VUSA.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	2.62%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	6.65%	7.44%	-0.79%
Volatility (1Y) Calculated over the trailing 1-year period	9.06%	11.34%	-2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.07%	15.11%	-3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.31%	16.01%	-1.70%

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

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

Dividends

TDIV.AS vs. VUSA.AS - Dividend Comparison

TDIV.AS's dividend yield for the trailing twelve months is around 3.19%, more than VUSA.AS's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
VUSA.AS Vanguard S&P 500 UCITS ETF	0.87%	0.97%	0.99%	1.26%	1.45%	1.02%	1.43%	1.46%	1.74%	1.64%	1.66%	1.76%

Frequently Asked Questions

Can I hold both TDIV.AS and VUSA.AS in my portfolio?

TDIV.AS and VUSA.AS have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TDIV.AS or VUSA.AS?

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

Which ETF is cheaper, TDIV.AS or VUSA.AS?

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

What is the main difference between TDIV.AS and VUSA.AS?

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