VUAG.L vs. EUNM.DE
VUAG.L (Vanguard S&P 500 UCITS ETF (USD) Accumulating) and EUNM.DE (iShares MSCI EM UCITS ETF (Acc)) are both exchange-traded funds - VUAG.L is a S&P 500 fund tracking the S&P 500 Index, while EUNM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, VUAG.L returned 14.39%/yr vs 8.40%/yr for EUNM.DE. A 0.56 correlation means they provide meaningful diversification when combined. VUAG.L charges 0.07%/yr vs 0.18%/yr for EUNM.DE.
Performance
VUAG.L vs. EUNM.DE - Performance Comparison
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Different Trading Currencies
VUAG.L is traded in GBP, while EUNM.DE is traded in EUR. To make them comparable, the EUNM.DE 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 8.79% return, which is significantly lower than EUNM.DE's 24.80% return.
VUAG.L
- 1D
- 1.48%
- 1M
- -0.32%
- YTD
- 8.79%
- 6M
- 9.16%
- 1Y
- 26.56%
- 3Y*
- 18.26%
- 5Y*
- 14.39%
- 10Y*
- —
EUNM.DE
- 1D
- 3.15%
- 1M
- 3.43%
- YTD
- 24.80%
- 6M
- 26.51%
- 1Y
- 50.09%
- 3Y*
- 19.83%
- 5Y*
- 8.40%
- 10Y*
- 10.99%
VUAG.L vs. EUNM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating | 8.79% | 9.36% | 27.34% | 19.65% | -8.87% | 30.97% | 16.23% | -12.98% |
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 24.80% | 25.40% | 9.12% | 3.60% | -9.79% | -2.71% | 12.84% | 13.61% |
Correlation
The correlation between VUAG.L and EUNM.DE is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.56 |
The correlation between VUAG.L and EUNM.DE has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.
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Return for Risk
VUAG.L vs. EUNM.DE — Risk / Return Rank
VUAG.L
EUNM.DE
VUAG.L vs. EUNM.DE - 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 iShares MSCI EM UCITS ETF (Acc) (EUNM.DE). 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.
| VUAG.L | EUNM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.50 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 4.48 | -0.82 |
| Martin ratioReturn relative to average drawdown | 13.20 | 15.32 | -2.12 |
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Drawdowns
VUAG.L vs. EUNM.DE - Drawdown Comparison
The maximum VUAG.L drawdown since its inception was -30.82%, roughly equal to the maximum EUNM.DE drawdown of -31.42%. Use the drawdown chart below to compare losses from any high point for VUAG.L and EUNM.DE.
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Drawdown Indicators
| VUAG.L | EUNM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.82% | -31.42% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -10.76% | +3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -20.88% | -16.51% | -4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -20.88% | -23.64% | +2.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.11% | — |
Current DrawdownCurrent decline from peak | -1.82% | -3.49% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -10.62% | +5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 3.15% | -1.17% |
Volatility
VUAG.L vs. EUNM.DE - Volatility Comparison
The current volatility for Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) is 3.57%, while iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) has a volatility of 7.42%. This indicates that VUAG.L experiences smaller price fluctuations and is considered to be less risky than EUNM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUAG.L | EUNM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 7.42% | -3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 15.43% | -7.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.90% | 17.79% | -6.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.36% | 16.54% | -2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.88% | 18.20% | -0.32% |
VUAG.L vs. EUNM.DE - Expense Ratio Comparison
VUAG.L has a 0.07% expense ratio, which is lower than EUNM.DE's 0.18% 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
VUAG.L vs. EUNM.DE - Dividend Comparison
Neither VUAG.L nor EUNM.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 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 EUNM.DE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUAG.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAG.L is cheaper with a 0.07% expense ratio, compared with 0.18% for EUNM.DE.
VUAG.L is categorized as S&P 500, while EUNM.DE is Emerging Markets Equities. VUAG.L tracks S&P 500 Index, while EUNM.DE tracks MSCI Emerging Markets. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VUAG.L and 0.18% for EUNM.DE.
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