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VEA vs. CSPX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEA vs. CSPX.L

Last updated Jun 16, 2026

VEA (Vanguard FTSE Developed Markets ETF) and CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) are both exchange-traded funds - VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while CSPX.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VEA returned 10.67%/yr vs 15.44%/yr for CSPX.L. A 0.50 correlation means they provide meaningful diversification when combined. VEA charges 0.03%/yr vs 0.07%/yr for CSPX.L.

Performance

VEA vs. CSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Developed Markets ETF (VEA) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEA achieves a 16.08% return, which is significantly higher than CSPX.L's 10.20% return. Over the past 10 years, VEA has underperformed CSPX.L with an annualized return of 10.67%, while CSPX.L has yielded a comparatively higher 15.44% annualized return.

VEA

1D
1.17%
1M
4.79%
YTD
16.08%
6M
17.35%
1Y
32.96%
3Y*
19.14%
5Y*
9.87%
10Y*
10.67%

CSPX.L

1D
1.66%
1M
1.84%
YTD
10.20%
6M
11.35%
1Y
26.94%
3Y*
20.87%
5Y*
13.56%
10Y*
15.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEA vs. CSPX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEA
Vanguard FTSE Developed Markets ETF		16.08%35.16%3.15%17.93%-15.34%11.66%9.71%22.62%-14.75%26.42%
CSPX.L
iShares Core S&P 500 UCITS ETF USD (Acc)		10.20%17.45%25.25%26.74%-18.72%29.35%17.62%30.55%-5.46%21.60%

Correlation

The correlation between VEA and CSPX.L is 0.51, 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

0.51

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

0.46

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

0.52

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

0.53

Correlation (All Time)
Calculated using the full available price history since Sep 15, 2010

0.50

The correlation between VEA and CSPX.L has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

VEA vs. CSPX.L - Sectors Allocation Comparison

Sectors
VEA
CSPX.L

Financial Services

23.3%
11.7%

Industrials

19.2%
8.0%

Technology

13.8%
37.5%

Healthcare

8.2%
8.9%

Basic Materials

7.5%
1.7%

Consumer Cyclical

7.5%
9.5%

Consumer Defensive

5.6%
4.8%

Energy

5.4%
3.4%

Communication Services

3.4%
10.4%

Utilities

3.3%
2.2%

Real Estate

2.7%
1.9%

Financial Services

VEA
23.3%
CSPX.L
11.7%

Industrials

VEA
19.2%
CSPX.L
8.0%

Technology

VEA
13.8%
CSPX.L
37.5%

Healthcare

VEA
8.2%
CSPX.L
8.9%

Basic Materials

VEA
7.5%
CSPX.L
1.7%

Consumer Cyclical

VEA
7.5%
CSPX.L
9.5%

Consumer Defensive

VEA
5.6%
CSPX.L
4.8%

Energy

VEA
5.4%
CSPX.L
3.4%

Communication Services

VEA
3.4%
CSPX.L
10.4%

Utilities

VEA
3.3%
CSPX.L
2.2%

Real Estate

VEA
2.7%
CSPX.L
1.9%

Compare stocks, funds, or ETFs

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

Vanguard FTSE Developed Markets ETF

iShares Core S&P 500 UCITS ETF USD (Acc)

Often compared with VEA:
VEA vs. VXUSVEA vs. VWOVEA vs. VOOVEA vs. VEUVEA vs. SCHFVEA vs. IEFAVEA vs. VTI
Often compared with CSPX.L:
CSPX.L vs. VOOCSPX.L vs. VUAA.LCSPX.L vs. SPYCSPX.L vs. CSPX.ASCSPX.L vs. CSP1.LCSPX.L vs. VWRL.ASCSPX.L vs. IVV

Return for Risk

VEA vs. CSPX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEA
VEA Risk / Return Rank: 6767
Overall Rank
VEA Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
VEA Sortino Ratio Rank: 6767
Sortino Ratio Rank
VEA Omega Ratio Rank: 6969
Omega Ratio Rank
VEA Calmar Ratio Rank: 6363
Calmar Ratio Rank
VEA Martin Ratio Rank: 6666
Martin Ratio Rank
CSPX.L
CSPX.L Risk / Return Rank: 7777
Overall Rank
CSPX.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
CSPX.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
CSPX.L Omega Ratio Rank: 7676
Omega Ratio Rank
CSPX.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
CSPX.L Martin Ratio Rank: 7979
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.

VEA vs. CSPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.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.

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.

VEACSPX.LDifference
Sharpe ratioReturn per unit of total volatility
2.00
2.21

-0.21

Sortino ratioReturn per unit of downside risk
2.74
3.26

-0.52

Omega ratioGain probability vs. loss probability

1.36

1.40

-0.03

Calmar ratioReturn relative to maximum drawdown

2.85

3.28

-0.43

Martin ratioReturn relative to average drawdown

10.96

13.68

-2.72

VEA vs. CSPX.L - Sharpe Ratio Comparison

The current VEA Sharpe Ratio is 2.00, which is comparable to the CSPX.L Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of VEA and CSPX.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.

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Drawdowns

VEA vs. CSPX.L - Drawdown Comparison

The maximum VEA drawdown since its inception was -60.68%, which is greater than CSPX.L's maximum drawdown of -33.90%. Use the drawdown chart below to compare losses from any high point for VEA and CSPX.L.

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Drawdown Indicators

VEACSPX.LDifference

Max Drawdown

Largest peak-to-trough decline

-60.68%

-33.90%

-26.78%

Max Drawdown (1Y)

Largest decline over 1 year

-11.63%

-8.17%

-3.46%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-18.50%

+5.05%

Max Drawdown (5Y)

Largest decline over 5 years

-29.71%

-24.39%

-5.32%

Max Drawdown (10Y)

Largest decline over 10 years

-35.73%

-33.90%

-1.83%

Current Drawdown

Current decline from peak

0.00%

-0.64%

+0.64%

Average Drawdown

Average peak-to-trough decline

-13.27%

-3.72%

-9.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.01%

1.96%

+1.05%

Volatility

VEA vs. CSPX.L - Volatility Comparison

Vanguard FTSE Developed Markets ETF (VEA) has a higher volatility of 6.92% compared to iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) at 4.15%. This indicates that VEA's price experiences larger fluctuations and is considered to be riskier than CSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEACSPX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.92%

4.15%

+2.77%

Volatility (6M)

Calculated over the trailing 6-month period

14.42%

9.16%

+5.26%

Volatility (1Y)

Calculated over the trailing 1-year period

16.58%

12.15%

+4.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.73%

16.05%

+0.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.41%

16.23%

+1.18%

VEA vs. CSPX.L - Expense Ratio Comparison

VEA has a 0.03% expense ratio, which is lower than CSPX.L's 0.07% 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

VEA vs. CSPX.L - Dividend Comparison

VEA's dividend yield for the trailing twelve months is around 2.59%, while CSPX.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CSPX.L
iShares Core S&P 500 UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VEA
Vanguard FTSE Developed Markets ETF		2.59%3.22%3.35%3.15%2.91%3.16%2.04%3.04%3.35%2.77%3.05%2.92%

Frequently Asked Questions

VEA and CSPX.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VEA is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEA is cheaper with a 0.03% expense ratio, compared with 0.07% for CSPX.L.

VEA is categorized as Foreign Large Cap Equities, while CSPX.L is S&P 500. VEA tracks FTSE Developed All Cap ex US Index, while CSPX.L tracks S&P 500 Index. They also come from different issuers: Vanguard and BlackRock. Their fees differ too: 0.03% for VEA and 0.07% for CSPX.L.

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