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VUAG.L vs. CSH2.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUAG.L vs. CSH2.L

Last updated Jun 9, 2026

VUAG.L (Vanguard S&P 500 UCITS ETF (USD) Accumulating) and CSH2.L (Lyxor Smart Overnight Return UCITS ETF C-GBP) are both exchange-traded funds - VUAG.L is a S&P 500 fund tracking the S&P 500 Index, while CSH2.L is a Money Market fund actively managed by Amundi. VUAG.L is passively managed, while CSH2.L is actively managed. Over the past 5 years, VUAG.L returned 14.55%/yr vs 3.66%/yr for CSH2.L. At a correlation of -0.03, they often move in opposite directions. Both charge a 0.07% expense ratio.

Performance

VUAG.L vs. CSH2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VUAG.L is traded in GBP, while CSH2.L is traded in GBp. To make them comparable, the CSH2.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VUAG.L achieves a 9.38% return, which is significantly higher than CSH2.L's 1.77% return.

VUAG.L

1D
-0.44%
1M
2.91%
YTD
9.38%
6M
8.97%
1Y
27.11%
3Y*
19.03%
5Y*
14.55%
10Y*
—

CSH2.L

1D
0.02%
1M
0.32%
YTD
1.77%
6M
2.12%
1Y
4.31%
3Y*
4.99%
5Y*
3.66%
10Y*
2.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUAG.L vs. CSH2.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
VUAG.L
Vanguard S&P 500 UCITS ETF (USD) Accumulating		9.38%9.36%27.34%19.65%-8.87%30.97%16.23%-12.98%
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP		1.77%4.67%5.61%4.72%1.54%0.13%0.30%0.52%

Correlation

The correlation between VUAG.L and CSH2.L is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.00

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

-0.02

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

-0.02

Correlation (All Time)
Calculated using the full available price history since May 14, 2019

-0.03

VUAG.L vs. CSH2.L - Sectors Allocation Comparison

Sectors
VUAG.L
CSH2.L

Technology

35.7%
35.9%

Financial Services

11.6%
10.4%

Communication Services

11.3%
13.9%

Consumer Cyclical

10.2%
13.9%

Healthcare

8.5%
11.3%

Industrials

8.3%
6.3%

Consumer Defensive

4.9%
4.9%

Energy

3.5%
1.4%

Utilities

2.4%
1.1%

Real Estate

1.9%
0.0%

Basic Materials

1.8%
1.0%

Technology

VUAG.L
35.7%
CSH2.L
35.9%

Financial Services

VUAG.L
11.6%
CSH2.L
10.4%

Communication Services

VUAG.L
11.3%
CSH2.L
13.9%

Consumer Cyclical

VUAG.L
10.2%
CSH2.L
13.9%

Healthcare

VUAG.L
8.5%
CSH2.L
11.3%

Industrials

VUAG.L
8.3%
CSH2.L
6.3%

Consumer Defensive

VUAG.L
4.9%
CSH2.L
4.9%

Energy

VUAG.L
3.5%
CSH2.L
1.4%

Utilities

VUAG.L
2.4%
CSH2.L
1.1%

Real Estate

VUAG.L
1.9%
CSH2.L
0.0%

Basic Materials

VUAG.L
1.8%
CSH2.L
1.0%

Compare stocks, funds, or ETFs

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

Vanguard S&P 500 UCITS ETF (USD) Accumulating

Lyxor Smart Overnight Return UCITS ETF C-GBP

Often compared with VUAG.L:
VUAG.L vs. VOOVUAG.L vs. VUAA.LVUAG.L vs. VUSA.ASVUAG.L vs. CSP1.LVUAG.L vs. SPXP.LVUAG.L vs. VUKG.LVUAG.L vs. VWRP.L
Often compared with CSH2.L:
CSH2.L vs. ERNS.LCSH2.L vs. MINV.LCSH2.L vs. BILSCSH2.L vs. ERNA.LCSH2.L vs. TI5G.LCSH2.L vs. LCSIXCSH2.L vs. AAPL

Return for Risk

VUAG.L vs. CSH2.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUAG.L
VUAG.L Risk / Return Rank: 8383
Overall Rank
VUAG.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
VUAG.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
VUAG.L Omega Ratio Rank: 8585
Omega Ratio Rank
VUAG.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
VUAG.L Martin Ratio Rank: 7979
Martin Ratio Rank
CSH2.L
CSH2.L Risk / Return Rank: 9999
Overall Rank
CSH2.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CSH2.L Sortino Ratio Rank: 9999
Sortino Ratio Rank
CSH2.L Omega Ratio Rank: 9999
Omega Ratio Rank
CSH2.L Calmar Ratio Rank: 9999
Calmar Ratio Rank
CSH2.L Martin Ratio Rank: 9999
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.

VUAG.L vs. CSH2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.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.

VUAG.LCSH2.LDifference
Sharpe ratioReturn per unit of total volatility
2.54
7.99

-5.46

Sortino ratioReturn per unit of downside risk
3.42
14.85

-11.43

Omega ratioGain probability vs. loss probability

1.47

4.32

-2.85

Calmar ratioReturn relative to maximum drawdown

3.79

27.26

-23.47

Martin ratioReturn relative to average drawdown

13.91

159.68

-145.77

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUAG.L vs. CSH2.L - Sharpe Ratio Comparison

The current VUAG.L Sharpe Ratio is 2.54, which is lower than the CSH2.L Sharpe Ratio of 7.99. The chart below compares the historical Sharpe Ratios of VUAG.L and CSH2.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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Sharpe Ratios by Period

VUAG.LCSH2.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.54

7.99

-5.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

6.51

-5.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

4.69

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.66

4.62

-3.96

Drawdowns

VUAG.L vs. CSH2.L - Drawdown Comparison

The maximum VUAG.L drawdown since its inception was -30.82%, which is greater than CSH2.L's maximum drawdown of -0.37%. Use the drawdown chart below to compare losses from any high point for VUAG.L and CSH2.L.

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Drawdown Indicators

VUAG.LCSH2.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.82%

-0.37%

-30.45%

Max Drawdown (1Y)

Largest decline over 1 year

-7.11%

-0.16%

-6.95%

Max Drawdown (3Y)

Largest decline over 3 years

-20.88%

-0.29%

-20.59%

Max Drawdown (5Y)

Largest decline over 5 years

-20.88%

-0.29%

-20.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-0.37%

—

Current Drawdown

Current decline from peak

-1.28%

0.00%

-1.28%

Average Drawdown

Average peak-to-trough decline

-5.48%

-0.00%

-5.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

0.03%

+1.91%

Volatility

VUAG.L vs. CSH2.L - Volatility Comparison

Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) has a higher volatility of 2.71% compared to Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L) at 0.08%. This indicates that VUAG.L's price experiences larger fluctuations and is considered to be riskier than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VUAG.LCSH2.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.71%

0.08%

+2.63%

Volatility (6M)

Calculated over the trailing 6-month period

7.19%

0.25%

+6.94%

Volatility (1Y)

Calculated over the trailing 1-year period

10.67%

0.54%

+10.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.33%

0.56%

+13.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.88%

0.44%

+17.44%

VUAG.L vs. CSH2.L - Expense Ratio Comparison

Both VUAG.L and CSH2.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VUAG.L vs. CSH2.L - Dividend Comparison

Neither VUAG.L nor CSH2.L has paid dividends to shareholders.

PositionTTM202520242023202220212020
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VUAG.L
Vanguard S&P 500 UCITS ETF (USD) Accumulating		0.00%0.00%0.00%0.00%0.00%0.00%1.80%

Frequently Asked Questions

VUAG.L and CSH2.L have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

VUAG.L and CSH2.L have the same expense ratio: 0.07% per year.

VUAG.L is categorized as S&P 500, while CSH2.L is Money Market. They also come from different issuers: Vanguard and Amundi.

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