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

VHYD.L vs. CSPX.L

Last updated Jun 12, 2026

VHYD.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) and CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) are both exchange-traded funds - VHYD.L is a Global Equities fund tracking the FTSE All-World High Dividend Yield 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, VHYD.L returned 10.04%/yr vs 14.88%/yr for CSPX.L. Their correlation of 0.82 suggests significant overlap in exposure. VHYD.L charges 0.29%/yr vs 0.07%/yr for CSPX.L.

Performance

VHYD.L vs. CSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) 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, VHYD.L achieves a 10.10% return, which is significantly higher than CSPX.L's 6.25% return. Over the past 10 years, VHYD.L has underperformed CSPX.L with an annualized return of 10.04%, while CSPX.L has yielded a comparatively higher 14.88% annualized return.

VHYD.L

1D
0.09%
1M
1.29%
YTD
10.10%
6M
11.41%
1Y
24.59%
3Y*
18.23%
5Y*
10.28%
10Y*
10.04%

CSPX.L

1D
-0.41%
1M
-0.68%
YTD
6.25%
6M
6.74%
1Y
21.69%
3Y*
20.45%
5Y*
12.78%
10Y*
14.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VHYD.L vs. CSPX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VHYD.L
Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing		10.10%27.03%9.32%11.43%-5.45%17.84%-0.31%20.75%-11.71%19.33%
CSPX.L
iShares Core S&P 500 UCITS ETF USD (Acc)		6.25%17.45%25.25%26.74%-18.72%29.35%17.62%30.55%-5.46%21.60%

Correlation

The correlation between VHYD.L and CSPX.L is 0.73, 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

0.73

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

0.71

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

0.77

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

0.80

Correlation (All Time)
Calculated using the full available price history since May 21, 2013

0.82

The correlation between VHYD.L and CSPX.L shifts across timeframes, from 0.71 (3 years) to 0.82 (all time), reflecting how their relationship changes across market environments.

VHYD.L vs. CSPX.L - Sectors Allocation Comparison

Sectors
VHYD.L
CSPX.L

Financial Services

28.6%
11.1%

Industrials

12.3%
7.9%

Healthcare

11.2%
8.3%

Energy

9.4%
3.2%

Consumer Defensive

8.7%
4.7%

Technology

7.7%
38.2%

Consumer Cyclical

7.0%
10.0%

Utilities

5.7%
2.2%

Basic Materials

5.1%
1.7%

Communication Services

3.5%
10.9%

Real Estate

0.9%
1.9%

Financial Services

VHYD.L
28.6%
CSPX.L
11.1%

Industrials

VHYD.L
12.3%
CSPX.L
7.9%

Healthcare

VHYD.L
11.2%
CSPX.L
8.3%

Energy

VHYD.L
9.4%
CSPX.L
3.2%

Consumer Defensive

VHYD.L
8.7%
CSPX.L
4.7%

Technology

VHYD.L
7.7%
CSPX.L
38.2%

Consumer Cyclical

VHYD.L
7.0%
CSPX.L
10.0%

Utilities

VHYD.L
5.7%
CSPX.L
2.2%

Basic Materials

VHYD.L
5.1%
CSPX.L
1.7%

Communication Services

VHYD.L
3.5%
CSPX.L
10.9%

Real Estate

VHYD.L
0.9%
CSPX.L
1.9%

Compare stocks, funds, or ETFs

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Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing

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

Often compared with VHYD.L:
VHYD.L vs. SCHDVHYD.L vs. VDIV.DEVHYD.L vs. FUSD.LVHYD.L vs. JEPQVHYD.L vs. WQDV.LVHYD.L vs. JEGP.LVHYD.L vs. JEPI
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

VHYD.L vs. CSPX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VHYD.L
VHYD.L Risk / Return Rank: 8080
Overall Rank
VHYD.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
VHYD.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
VHYD.L Omega Ratio Rank: 8383
Omega Ratio Rank
VHYD.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
VHYD.L Martin Ratio Rank: 7373
Martin Ratio Rank
CSPX.L
CSPX.L Risk / Return Rank: 6969
Overall Rank
CSPX.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
CSPX.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
CSPX.L Omega Ratio Rank: 6666
Omega Ratio Rank
CSPX.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
CSPX.L Martin Ratio Rank: 7272
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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) 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.

VHYD.LCSPX.LDifference
Sharpe ratioReturn per unit of total volatility
2.30
1.82

+0.49

Sortino ratioReturn per unit of downside risk
3.31
2.69

+0.62

Omega ratioGain probability vs. loss probability

1.42

1.33

+0.09

Calmar ratioReturn relative to maximum drawdown

3.16

2.64

+0.52

Martin ratioReturn relative to average drawdown

11.39

11.05

+0.34

VHYD.L vs. CSPX.L - Sharpe Ratio Comparison

The current VHYD.L Sharpe Ratio is 2.30, which is comparable to the CSPX.L Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of VHYD.L 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

VHYD.L vs. CSPX.L - Drawdown Comparison

The maximum VHYD.L drawdown since its inception was -36.60%, 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 VHYD.L and CSPX.L.

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Drawdown Indicators

VHYD.LCSPX.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.60%

-33.90%

-2.70%

Max Drawdown (1Y)

Largest decline over 1 year

-7.74%

-8.17%

+0.43%

Max Drawdown (3Y)

Largest decline over 3 years

-12.48%

-18.50%

+6.02%

Max Drawdown (5Y)

Largest decline over 5 years

-20.89%

-24.39%

+3.50%

Max Drawdown (10Y)

Largest decline over 10 years

-36.60%

-33.90%

-2.70%

Current Drawdown

Current decline from peak

-1.09%

-4.20%

+3.11%

Average Drawdown

Average peak-to-trough decline

-5.31%

-3.72%

-1.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

1.96%

+0.19%

Volatility

VHYD.L vs. CSPX.L - Volatility Comparison

The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) is 2.58%, while iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a volatility of 3.56%. This indicates that VHYD.L experiences smaller price fluctuations and is considered to be less risky 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

VHYD.LCSPX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.58%

3.56%

-0.98%

Volatility (6M)

Calculated over the trailing 6-month period

8.52%

8.82%

-0.30%

Volatility (1Y)

Calculated over the trailing 1-year period

10.63%

11.90%

-1.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.65%

16.01%

-2.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.38%

16.21%

-0.83%

VHYD.L vs. CSPX.L - Expense Ratio Comparison

VHYD.L has a 0.29% expense ratio, which is higher than CSPX.L's 0.07% expense ratio.

Dividends

VHYD.L vs. CSPX.L - Dividend Comparison

VHYD.L's dividend yield for the trailing twelve months is around 2.51%, 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%
VHYD.L
Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing		2.51%2.77%3.15%3.31%3.72%3.14%2.90%3.23%3.77%2.96%3.16%3.32%

Frequently Asked Questions

VHYD.L and CSPX.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

CSPX.L is cheaper with a 0.07% expense ratio, compared with 0.29% for VHYD.L.

VHYD.L is categorized as Global Equities, while CSPX.L is S&P 500. VHYD.L tracks FTSE All-World High Dividend Yield Index, while CSPX.L tracks S&P 500 Index. They also come from different issuers: Vanguard and BlackRock. Their fees differ too: 0.29% for VHYD.L and 0.07% for CSPX.L.

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