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VERX.L vs. CS1.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VERX.L vs. CS1.L

Last updated Jun 26, 2026

VERX.L (Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing) and CS1.L (Amundi ETF MSCI Spain UCITS ETF EUR (C)) are both Europe Equities funds - VERX.L tracks the MSCI Europe Ex UK NR EUR while CS1.L tracks the BME IBEX 35 NR EUR. Both are passively managed. Over the past 10 years, VERX.L returned 11.39%/yr vs 13.79%/yr for CS1.L. A 0.78 correlation means they provide meaningful diversification when combined. VERX.L charges 0.10%/yr vs 0.25%/yr for CS1.L.

Performance

VERX.L vs. CS1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing (VERX.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VERX.L is traded in GBP, while CS1.L is traded in GBp. To make them comparable, the CS1.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VERX.L achieves a 9.47% return, which is significantly lower than CS1.L's 13.19% return. Over the past 10 years, VERX.L has underperformed CS1.L with an annualized return of 11.39%, while CS1.L has yielded a comparatively higher 13.79% annualized return.

VERX.L

1D
0.80%
1M
2.48%
YTD
9.47%
6M
9.91%
1Y
23.92%
3Y*
15.55%
5Y*
9.67%
10Y*
11.39%

CS1.L

1D
0.56%
1M
6.47%
YTD
13.19%
6M
13.97%
1Y
47.56%
3Y*
33.09%
5Y*
20.76%
10Y*
13.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VERX.L vs. CS1.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VERX.L
Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing		9.47%26.33%2.69%15.21%-7.06%16.11%8.53%20.51%-9.70%16.56%
CS1.L
Amundi ETF MSCI Spain UCITS ETF EUR (C)		13.19%62.63%14.12%24.14%4.89%0.59%-7.48%8.06%-11.27%15.93%

Correlation

The correlation between VERX.L and CS1.L is 0.79, 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

0.79

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

0.75

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

0.75

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

0.77

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2014

0.78

The correlation between VERX.L and CS1.L has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

VERX.L vs. CS1.L - Sectors Allocation Comparison

Sectors
VERX.L
CS1.L

Financial Services

23.7%
40.7%

Industrials

21.2%
15.9%

Healthcare

12.6%
0.6%

Technology

12.1%
3.5%

Consumer Cyclical

7.5%
11.0%

Consumer Defensive

6.4%
0.3%

Basic Materials

4.7%
1.5%

Utilities

4.5%
18.1%

Energy

3.1%
2.6%

Communication Services

3.1%
2.4%

Real Estate

1.1%
3.3%

Financial Services

VERX.L
23.7%
CS1.L
40.7%

Industrials

VERX.L
21.2%
CS1.L
15.9%

Healthcare

VERX.L
12.6%
CS1.L
0.6%

Technology

VERX.L
12.1%
CS1.L
3.5%

Consumer Cyclical

VERX.L
7.5%
CS1.L
11.0%

Consumer Defensive

VERX.L
6.4%
CS1.L
0.3%

Basic Materials

VERX.L
4.7%
CS1.L
1.5%

Utilities

VERX.L
4.5%
CS1.L
18.1%

Energy

VERX.L
3.1%
CS1.L
2.6%

Communication Services

VERX.L
3.1%
CS1.L
2.4%

Real Estate

VERX.L
1.1%
CS1.L
3.3%

Compare stocks, funds, or ETFs

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Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing

Amundi ETF MSCI Spain UCITS ETF EUR (C)

Often compared with VERX.L:
VERX.L vs. IEUX.LVERX.L vs. CEUG.LVERX.L vs. XUEK.LVERX.L vs. VUAA.LVERX.L vs. IQQY.DEVERX.L vs. JPMVERX.L vs. VUAG.L
Often compared with CS1.L:
CS1.L vs. VOOCS1.L vs. CSWG.LCS1.L vs. WDEP.LCS1.L vs. EDIV.LCS1.L vs. FEQD.LCS1.L vs. EGRW.LCS1.L vs. PRUK.L

Return for Risk

VERX.L vs. CS1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VERX.L
VERX.L Risk / Return Rank: 5858
Overall Rank
VERX.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VERX.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
VERX.L Omega Ratio Rank: 6565
Omega Ratio Rank
VERX.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
VERX.L Martin Ratio Rank: 5050
Martin Ratio Rank
CS1.L
CS1.L Risk / Return Rank: 9090
Overall Rank
CS1.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
CS1.L Sortino Ratio Rank: 9292
Sortino Ratio Rank
CS1.L Omega Ratio Rank: 9292
Omega Ratio Rank
CS1.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
CS1.L Martin Ratio Rank: 8585
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.

VERX.L vs. CS1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing (VERX.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.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.

VERX.LCS1.LDifference
Sharpe ratioReturn per unit of total volatility
1.82
2.93

-1.11

Sortino ratioReturn per unit of downside risk
2.60
3.83

-1.23

Omega ratioGain probability vs. loss probability

1.34

1.53

-0.18

Calmar ratioReturn relative to maximum drawdown

2.12

4.58

-2.46

Martin ratioReturn relative to average drawdown

7.61

15.54

-7.93

VERX.L vs. CS1.L - Sharpe Ratio Comparison

The current VERX.L Sharpe Ratio is 1.82, which is lower than the CS1.L Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of VERX.L and CS1.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

VERX.L vs. CS1.L - Drawdown Comparison

The maximum VERX.L drawdown since its inception was -27.65%, smaller than the maximum CS1.L drawdown of -57.96%. Use the drawdown chart below to compare losses from any high point for VERX.L and CS1.L.

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Drawdown Indicators

VERX.LCS1.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.65%

-57.96%

+30.31%

Max Drawdown (1Y)

Largest decline over 1 year

-11.24%

-10.34%

-0.90%

Max Drawdown (3Y)

Largest decline over 3 years

-13.25%

-12.64%

-0.61%

Max Drawdown (5Y)

Largest decline over 5 years

-20.31%

-17.57%

-2.74%

Max Drawdown (10Y)

Largest decline over 10 years

-27.65%

-38.87%

+11.22%

Current Drawdown

Current decline from peak

-0.37%

-0.38%

+0.01%

Average Drawdown

Average peak-to-trough decline

-4.56%

-17.28%

+12.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

3.05%

+0.08%

Volatility

VERX.L vs. CS1.L - Volatility Comparison

The current volatility for Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing (VERX.L) is 3.27%, while Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L) has a volatility of 3.92%. This indicates that VERX.L experiences smaller price fluctuations and is considered to be less risky than CS1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VERX.LCS1.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

3.92%

-0.65%

Volatility (6M)

Calculated over the trailing 6-month period

11.04%

13.63%

-2.59%

Volatility (1Y)

Calculated over the trailing 1-year period

13.13%

16.25%

-3.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.80%

18.78%

-3.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.55%

19.32%

-3.77%

VERX.L vs. CS1.L - Expense Ratio Comparison

VERX.L has a 0.10% expense ratio, which is lower than CS1.L's 0.25% 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

VERX.L vs. CS1.L - Dividend Comparison

VERX.L's dividend yield for the trailing twelve months is around 2.49%, while CS1.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CS1.L
Amundi ETF MSCI Spain UCITS ETF EUR (C)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VERX.L
Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing		2.49%2.62%2.94%2.72%2.92%2.33%1.97%2.95%3.14%2.68%2.64%2.56%

Frequently Asked Questions

VERX.L and CS1.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VERX.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VERX.L is cheaper with a 0.10% expense ratio, compared with 0.25% for CS1.L.

VERX.L tracks MSCI Europe Ex UK NR EUR, while CS1.L tracks BME IBEX 35 NR EUR. They also come from different issuers: Vanguard and Amundi. Their fees differ too: 0.10% for VERX.L and 0.25% for CS1.L.

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