VUAG.L vs. SPXE.L

Last updated Jul 18, 2026

VUAG.L (Vanguard S&P 500 UCITS ETF (USD) Accumulating) and SPXE.L (Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc)) are both S&P 500 funds - VUAG.L tracks the S&P 500 Index while SPXE.L tracks the S&P 500 Scored & Screened Index. Both are passively managed. Over the past 5 years, VUAG.L returned 13.30%/yr vs 13.98%/yr for SPXE.L. Their correlation of 0.91 suggests significant overlap in exposure. VUAG.L charges 0.07%/yr vs 0.09%/yr for SPXE.L.

Performance

VUAG.L vs. SPXE.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 Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc) (SPXE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VUAG.L is traded in GBP, while SPXE.L is traded in USD. To make them comparable, the SPXE.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 9.10% return, which is significantly higher than SPXE.L's 8.63% return.

VUAG.L

• 1D: -0.96%
• 1M: -0.92%
• 6M: 7.51%
• YTD: 9.10%
• 1Y: 19.67%
• 3Y*: 18.27%
• 5Y*: 13.30%
• 10Y*: —

SPXE.L

• 1D: -1.07%
• 1M: -2.67%
• 6M: 7.06%
• YTD: 8.63%
• 1Y: 21.84%
• 3Y*: 17.92%
• 5Y*: 13.98%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	9.10%	9.36%	27.34%	19.65%	-8.87%	30.97%	29.42%
SPXE.L Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc)	8.63%	9.57%	26.72%	21.98%	-8.25%	33.54%	21.11%

Correlation

The correlation between VUAG.L and SPXE.L is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Mar 10, 2020	0.91

The correlation between VUAG.L and SPXE.L has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

VUAG.L vs. SPXE.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: 69
VUAG.L Sharpe Ratio Rank: 70
VUAG.L Sortino Ratio Rank: 67
VUAG.L Omega Ratio Rank: 69
VUAG.L Calmar Ratio Rank: 69
VUAG.L Martin Ratio Rank: 69

SPXE.L

SPXE.L Risk / Return Rank: 76
SPXE.L Sharpe Ratio Rank: 77
SPXE.L Sortino Ratio Rank: 82
SPXE.L Omega Ratio Rank: 77
SPXE.L Calmar Ratio Rank: 67
SPXE.L Martin Ratio Rank: 77

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. SPXE.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 Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc) (SPXE.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.

	VUAG.L	SPXE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.79	+0.01
Sortino ratio: Return per unit of downside risk	2.47	2.57	-0.09
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	2.75	3.21	-0.45
Martin ratio: Return relative to average drawdown	9.83	11.49	-1.67

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

The current VUAG.L Sharpe Ratio is 1.80, which is comparable to the SPXE.L Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of VUAG.L and SPXE.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

VUAG.L vs. SPXE.L - Drawdown Comparison

The maximum VUAG.L drawdown since its inception was -25.61%, which is greater than SPXE.L's maximum drawdown of -21.81%. Use the drawdown chart below to compare losses from any high point for VUAG.L and SPXE.L.

Drawdown Indicators

	VUAG.L	SPXE.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-21.81%	-3.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-6.78%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-20.88%	-21.81%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-21.81%	+0.93%
Current Drawdown Current decline from peak	-1.92%	-2.89%	+0.97%
Average Drawdown Average peak-to-trough decline	-3.56%	-3.35%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.90%	+0.10%

Volatility

VUAG.L vs. SPXE.L - Volatility Comparison

The current volatility for Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) is 2.89%, while Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc) (SPXE.L) has a volatility of 3.26%. This indicates that VUAG.L experiences smaller price fluctuations and is considered to be less risky than SPXE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUAG.L	SPXE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	3.26%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	7.80%	9.35%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	11.01%	12.18%	-1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.40%	15.66%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	18.23%	-2.24%

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

VUAG.L has a 0.07% expense ratio, which is lower than SPXE.L's 0.09% 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. SPXE.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020
SPXE.L Invesco S&P 500 Scored & Screened UCITS ETF USD (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%	0.29%

Frequently Asked Questions

Can I hold both VUAG.L and SPXE.L in my portfolio?

VUAG.L and SPXE.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VUAG.L or SPXE.L?

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.

Which ETF is cheaper, VUAG.L or SPXE.L?

VUAG.L is cheaper with a 0.07% expense ratio, compared with 0.09% for SPXE.L.

What is the main difference between VUAG.L and SPXE.L?

VUAG.L tracks S&P 500 Index, while SPXE.L tracks S&P 500 Scored & Screened Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.07% for VUAG.L and 0.09% for SPXE.L.