VEUA.L vs. SPYM

Last updated Jun 7, 2026

VEUA.L (Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - VEUA.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, VEUA.L returned 9.99%/yr vs 14.75%/yr for SPYM. At a 0.42 correlation, their price movements are largely independent. VEUA.L charges 0.10%/yr vs 0.02%/yr for SPYM.

Performance

VEUA.L vs. SPYM - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) and State Street SPDR Portfolio S&P 500 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEUA.L is traded in GBP, while SPYM is traded in USD. To make them comparable, the SPYM values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEUA.L achieves a 6.07% return, which is significantly lower than SPYM's 9.57% return.

VEUA.L

• 1D: -0.54%
• 1M: 1.49%
• YTD: 6.07%
• 6M: 8.35%
• 1Y: 18.34%
• 3Y*: 13.90%
• 5Y*: 9.99%
• 10Y*: —

SPYM

• 1D: -1.97%
• 1M: 2.43%
• YTD: 9.57%
• 6M: 8.14%
• 1Y: 26.35%
• 3Y*: 18.68%
• 5Y*: 14.75%
• 10Y*: 16.25%

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

VEUA.L vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEUA.L Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating	6.07%	26.07%	4.49%	13.46%	-4.21%	16.83%	3.08%	-9.21%
SPYM State Street SPDR Portfolio S&P 500 ETF	9.57%	9.40%	27.18%	19.93%	-8.35%	30.00%	15.01%	1.29%

Correlation

The correlation between VEUA.L and SPYM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019	0.42

VEUA.L vs. SPYM - Sectors Allocation Comparison

Sectors	VEUA.L	SPYM
Financial Services	24.0%	11.1%
Industrials	19.7%	7.6%
Healthcare	12.9%	8.4%
Technology	8.5%	38.5%
Consumer Defensive	8.3%	4.6%
Consumer Cyclical	6.6%	9.9%
Basic Materials	5.6%	1.7%
Energy	5.3%	3.2%
Utilities	5.0%	2.5%
Communication Services	3.0%	10.6%
Real Estate	1.1%	1.8%

Return for Risk

VEUA.L vs. SPYM — Risk / Return Rank

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

VEUA.L

VEUA.L Risk / Return Rank: 45
VEUA.L Sharpe Ratio Rank: 48
VEUA.L Sortino Ratio Rank: 48
VEUA.L Omega Ratio Rank: 50
VEUA.L Calmar Ratio Rank: 39
VEUA.L Martin Ratio Rank: 42

SPYM

SPYM Risk / Return Rank: 66
SPYM Sharpe Ratio Rank: 66
SPYM Sortino Ratio Rank: 64
SPYM Omega Ratio Rank: 67
SPYM Calmar Ratio Rank: 60
SPYM Martin Ratio Rank: 73

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.

VEUA.L vs. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.

	VEUA.L	SPYM	Difference
Sharpe ratio: Return per unit of total volatility	1.53	2.43	-0.90
Sortino ratio: Return per unit of downside risk	2.18	3.14	-0.96
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio: Return relative to maximum drawdown	1.76	3.68	-1.92
Martin ratio: Return relative to average drawdown	6.30	14.09	-7.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEUA.L vs. SPYM - Sharpe Ratio Comparison

The current VEUA.L Sharpe Ratio is 1.53, which is lower than the SPYM Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of VEUA.L and SPYM, 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

	VEUA.L	SPYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	2.43	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.94	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.72	-0.29

Drawdowns

VEUA.L vs. SPYM - Drawdown Comparison

The maximum VEUA.L drawdown since its inception was -33.39%, roughly equal to the maximum SPYM drawdown of -33.55%. Use the drawdown chart below to compare losses from any high point for VEUA.L and SPYM.

Drawdown Indicators

	VEUA.L	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-33.39%	-33.55%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-7.65%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-12.63%	-21.91%	+9.28%
Max Drawdown (5Y) Largest decline over 5 years	-16.36%	-21.91%	+5.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.95%	—
Current Drawdown Current decline from peak	-1.87%	-1.97%	+0.10%
Average Drawdown Average peak-to-trough decline	-6.12%	-4.71%	-1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.00%	+0.97%

Volatility

VEUA.L vs. SPYM - Volatility Comparison

Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) has a higher volatility of 3.45% compared to State Street SPDR Portfolio S&P 500 ETF (SPYM) at 3.27%. This indicates that VEUA.L's price experiences larger fluctuations and is considered to be riskier than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEUA.L	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	3.27%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	8.37%	+1.89%
Volatility (1Y) Calculated over the trailing 1-year period	12.16%	11.63%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	15.77%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	18.11%	-0.42%

VEUA.L vs. SPYM - Expense Ratio Comparison

VEUA.L has a 0.10% expense ratio, which is higher than SPYM's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEUA.L vs. SPYM - Dividend Comparison

VEUA.L has not paid dividends to shareholders, while SPYM's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYM State Street SPDR Portfolio S&P 500 ETF	1.02%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%
VEUA.L Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEUA.L and SPYM in my portfolio?

VEUA.L and SPYM have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEUA.L or SPYM?

On fees, SPYM is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEUA.L or SPYM?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.10% for VEUA.L.

What is the main difference between VEUA.L and SPYM?

VEUA.L is categorized as Europe Equities, while SPYM is S&P 500. VEUA.L tracks MSCI Europe NR EUR, while SPYM tracks S&P 500 Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.10% for VEUA.L and 0.02% for SPYM.