V3AA.MI vs. SPUS

Last updated Jun 27, 2026

V3AA.MI (Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating) and SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) are both exchange-traded funds - V3AA.MI is a Global Equities fund tracking the FTSE Global All Cap Choice Index, while SPUS is a S&P 500 fund tracking the S&P 500 Shariah Industry Exclusions Index. Both are passively managed. Over the past 5 years, V3AA.MI returned 10.73%/yr vs 16.56%/yr for SPUS. A 0.53 correlation means they provide meaningful diversification when combined. V3AA.MI charges 0.24%/yr vs 0.45%/yr for SPUS.

Performance

V3AA.MI vs. SPUS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating (V3AA.MI) and SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

V3AA.MI is traded in EUR, while SPUS is traded in USD. To make them comparable, the SPUS values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with V3AA.MI having a 13.14% return and SPUS slightly lower at 13.09%.

V3AA.MI

• 1D: 0.00%
• 1M: 1.23%
• YTD: 13.14%
• 6M: 13.73%
• 1Y: 27.20%
• 3Y*: 18.30%
• 5Y*: 10.73%
• 10Y*: —

SPUS

• 1D: -0.71%
• 1M: -1.13%
• YTD: 13.09%
• 6M: 11.84%
• 1Y: 30.98%
• 3Y*: 20.07%
• 5Y*: 16.56%
• 10Y*: —

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

V3AA.MI vs. SPUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
V3AA.MI Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	13.14%	7.21%	25.54%	20.64%	-18.83%	15.01%
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	13.09%	5.56%	34.84%	30.22%	-17.97%	30.07%

Correlation

The correlation between V3AA.MI and SPUS is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 13, 2021	0.53

The correlation between V3AA.MI and SPUS shifts across timeframes, from 0.53 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

V3AA.MI vs. SPUS — Risk / Return Rank

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

V3AA.MI

V3AA.MI Risk / Return Rank: 78
V3AA.MI Sharpe Ratio Rank: 78
V3AA.MI Sortino Ratio Rank: 78
V3AA.MI Omega Ratio Rank: 78
V3AA.MI Calmar Ratio Rank: 75
V3AA.MI Martin Ratio Rank: 80

SPUS

SPUS Risk / Return Rank: 60
SPUS Sharpe Ratio Rank: 62
SPUS Sortino Ratio Rank: 58
SPUS Omega Ratio Rank: 59
SPUS Calmar Ratio Rank: 59
SPUS Martin Ratio Rank: 62

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.

V3AA.MI vs. SPUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating (V3AA.MI) and SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	V3AA.MI	SPUS	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.05	+0.09
Sortino ratio: Return per unit of downside risk	2.99	2.66	+0.34
Omega ratio: Gain probability vs. loss probability	1.40	1.36	+0.04
Calmar ratio: Return relative to maximum drawdown	3.34	3.39	-0.04
Martin ratio: Return relative to average drawdown	13.39	11.41	+1.99

V3AA.MI vs. SPUS - Sharpe Ratio Comparison

The current V3AA.MI Sharpe Ratio is 2.14, which is comparable to the SPUS Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of V3AA.MI and SPUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

V3AA.MI vs. SPUS - Drawdown Comparison

The maximum V3AA.MI drawdown since its inception was -22.16%, smaller than the maximum SPUS drawdown of -30.28%. Use the drawdown chart below to compare losses from any high point for V3AA.MI and SPUS.

Drawdown Indicators

	V3AA.MI	SPUS	Difference
Max Drawdown Largest peak-to-trough decline	-22.16%	-30.28%	+8.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-9.19%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-22.16%	-27.94%	+5.78%
Max Drawdown (5Y) Largest decline over 5 years	-22.16%	-27.94%	+5.78%
Current Drawdown Current decline from peak	-1.36%	-4.14%	+2.78%
Average Drawdown Average peak-to-trough decline	-6.01%	-5.56%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.72%	-0.68%

Volatility

V3AA.MI vs. SPUS - Volatility Comparison

The current volatility for Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating (V3AA.MI) is 4.20%, while SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) has a volatility of 6.00%. This indicates that V3AA.MI experiences smaller price fluctuations and is considered to be less risky than SPUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3AA.MI	SPUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	6.00%	-1.80%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	11.42%	-1.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	15.20%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.69%	19.21%	-4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.54%	21.35%	-6.81%

V3AA.MI vs. SPUS - Expense Ratio Comparison

V3AA.MI has a 0.24% expense ratio, which is lower than SPUS's 0.45% expense ratio.

Dividends

V3AA.MI vs. SPUS - Dividend Comparison

V3AA.MI has not paid dividends to shareholders, while SPUS's dividend yield for the trailing twelve months is around 0.55%.

Position	TTM	2025	2024	2023	2022	2021	2020
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	0.55%	0.60%	0.70%	0.87%	1.21%	1.15%	1.04%
V3AA.MI Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both V3AA.MI and SPUS in my portfolio?

V3AA.MI and SPUS have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, V3AA.MI or SPUS?

On fees, V3AA.MI is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, V3AA.MI or SPUS?

V3AA.MI is cheaper with a 0.24% expense ratio, compared with 0.45% for SPUS.

What is the main difference between V3AA.MI and SPUS?

V3AA.MI is categorized as Global Equities, while SPUS is S&P 500. V3AA.MI tracks FTSE Global All Cap Choice Index, while SPUS tracks S&P 500 Shariah Industry Exclusions Index. They also come from different issuers: Vanguard and SP Funds. Their fees differ too: 0.24% for V3AA.MI and 0.45% for SPUS.