VHYL.L vs. IUSA.L

Last updated Jul 18, 2026

VHYL.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) and IUSA.L (iShares S&P 500 UCITS Dist) are both exchange-traded funds - VHYL.L is a Dividend fund tracking the FTSE All-World High Dividend Yield Index, while IUSA.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VHYL.L returned 9.76%/yr vs 14.48%/yr for IUSA.L. Their correlation of 0.82 suggests significant overlap in exposure. VHYL.L charges 0.29%/yr vs 0.07%/yr for IUSA.L.

Performance

VHYL.L vs. IUSA.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 (VHYL.L) and iShares S&P 500 UCITS Dist (IUSA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, VHYL.L achieves a 13.32% return, which is significantly higher than IUSA.L's 9.08% return. Over the past 10 years, VHYL.L has underperformed IUSA.L with an annualized return of 9.76%, while IUSA.L has yielded a comparatively higher 14.48% annualized return.

VHYL.L

• 1D: 0.04%
• 1M: -0.25%
• 6M: 9.49%
• YTD: 13.32%
• 1Y: 25.74%
• 3Y*: 16.86%
• 5Y*: 12.12%
• 10Y*: 9.76%

IUSA.L

• 1D: -1.01%
• 1M: -0.93%
• 6M: 7.48%
• YTD: 9.08%
• 1Y: 19.64%
• 3Y*: 18.27%
• 5Y*: 13.33%
• 10Y*: 14.48%

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

VHYL.L vs. IUSA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHYL.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	13.32%	18.23%	11.22%	5.25%	5.95%	19.23%	-3.53%	17.00%	-6.59%	8.80%
IUSA.L iShares S&P 500 UCITS Dist	9.08%	9.32%	27.33%	19.83%	-9.00%	30.97%	13.65%	26.47%	-0.00%	10.67%

Correlation

The correlation between VHYL.L and IUSA.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.70
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

Over the past year, the correlation between VHYL.L and IUSA.L has dropped to 0.56 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

VHYL.L vs. IUSA.L - Sectors Allocation Comparison

Sectors	VHYL.L	IUSA.L
Financial Services	28.2%	11.1%
Industrials	12.2%	7.8%
Healthcare	11.1%	8.3%
Technology	9.5%	39.1%
Energy	8.7%	3.1%
Consumer Defensive	8.5%	4.5%
Consumer Cyclical	7.2%	9.9%
Utilities	5.3%	2.1%
Basic Materials	5.2%	1.7%
Communication Services	3.4%	10.6%
Real Estate	0.8%	1.8%

Return for Risk

VHYL.L vs. IUSA.L — Risk / Return Rank

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

VHYL.L

VHYL.L Risk / Return Rank: 91
VHYL.L Sharpe Ratio Rank: 95
VHYL.L Sortino Ratio Rank: 94
VHYL.L Omega Ratio Rank: 95
VHYL.L Calmar Ratio Rank: 85
VHYL.L Martin Ratio Rank: 85

IUSA.L

IUSA.L Risk / Return Rank: 70
IUSA.L Sharpe Ratio Rank: 70
IUSA.L Sortino Ratio Rank: 68
IUSA.L Omega Ratio Rank: 70
IUSA.L Calmar Ratio Rank: 70
IUSA.L Martin Ratio Rank: 70

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.

VHYL.L vs. IUSA.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 (VHYL.L) and iShares S&P 500 UCITS Dist (IUSA.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.

	VHYL.L	IUSA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.98	1.80	+1.18
Sortino ratio: Return per unit of downside risk	3.98	2.48	+1.50
Omega ratio: Gain probability vs. loss probability	1.57	1.33	+0.25
Calmar ratio: Return relative to maximum drawdown	3.69	2.75	+0.94
Martin ratio: Return relative to average drawdown	13.31	9.87	+3.44

VHYL.L vs. IUSA.L - Sharpe Ratio Comparison

The current VHYL.L Sharpe Ratio is 2.98, which is higher than the IUSA.L Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of VHYL.L and IUSA.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.

Drawdowns

VHYL.L vs. IUSA.L - Drawdown Comparison

The maximum VHYL.L drawdown since its inception was -27.87%, smaller than the maximum IUSA.L drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for VHYL.L and IUSA.L.

Drawdown Indicators

	VHYL.L	IUSA.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.87%	-36.17%	+8.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-7.11%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-12.79%	-21.14%	+8.35%
Max Drawdown (5Y) Largest decline over 5 years	-12.79%	-21.14%	+8.35%
Max Drawdown (10Y) Largest decline over 10 years	-27.87%	-25.52%	-2.35%
Current Drawdown Current decline from peak	-0.51%	-1.95%	+1.44%
Average Drawdown Average peak-to-trough decline	-3.58%	-4.83%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.99%	-0.06%

Volatility

VHYL.L vs. IUSA.L - Volatility Comparison

The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) is 1.92%, while iShares S&P 500 UCITS Dist (IUSA.L) has a volatility of 2.94%. This indicates that VHYL.L experiences smaller price fluctuations and is considered to be less risky than IUSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHYL.L	IUSA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	2.94%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	6.95%	7.78%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	8.65%	10.93%	-2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.76%	14.41%	-3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	15.49%	-2.50%

VHYL.L vs. IUSA.L - Expense Ratio Comparison

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

Dividends

VHYL.L vs. IUSA.L - Dividend Comparison

VHYL.L's dividend yield for the trailing twelve months is around 2.53%, more than IUSA.L's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSA.L iShares S&P 500 UCITS Dist	0.88%	0.93%	1.00%	1.24%	1.42%	1.01%	1.40%	1.53%	1.68%	1.50%	1.30%	1.50%
VHYL.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	2.53%	2.79%	3.08%	3.37%	3.67%	3.08%	3.28%	3.34%	3.63%	3.09%	2.88%	3.20%

Frequently Asked Questions

Can I hold both VHYL.L and IUSA.L in my portfolio?

VHYL.L and IUSA.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VHYL.L or IUSA.L?

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

Which ETF is cheaper, VHYL.L or IUSA.L?

IUSA.L is cheaper with a 0.07% expense ratio, compared with 0.29% for VHYL.L.

What is the main difference between VHYL.L and IUSA.L?

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