VUAG.L vs. VEVE.AS

Last updated Jun 14, 2026

VUAG.L (Vanguard S&P 500 UCITS ETF (USD) Accumulating) and VEVE.AS (Vanguard FTSE Developed World UCITS ETF) are both exchange-traded funds - VUAG.L is a S&P 500 fund tracking the S&P 500 Index, while VEVE.AS is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, VUAG.L returned 14.39%/yr vs 13.28%/yr for VEVE.AS. Their correlation of 0.90 suggests significant overlap in exposure. VUAG.L charges 0.07%/yr vs 0.12%/yr for VEVE.AS.

Performance

VUAG.L vs. VEVE.AS - 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 Vanguard FTSE Developed World UCITS ETF (VEVE.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VUAG.L is traded in GBP, while VEVE.AS is traded in EUR. To make them comparable, the VEVE.AS 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 VEVE.AS's 11.94% 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*: —

VEVE.AS

• 1D: -0.19%
• 1M: 1.05%
• YTD: 11.94%
• 6M: 12.50%
• 1Y: 29.49%
• 3Y*: 18.41%
• 5Y*: 13.28%
• 10Y*: 14.04%

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

VUAG.L vs. VEVE.AS - 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%
VEVE.AS Vanguard FTSE Developed World UCITS ETF	11.94%	14.01%	20.59%	17.00%	-8.72%	23.67%	12.52%	11.60%

Correlation

The correlation between VUAG.L and VEVE.AS 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 14, 2019	0.90

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

Return for Risk

VUAG.L vs. VEVE.AS — 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: 82
VUAG.L Sharpe Ratio Rank: 85
VUAG.L Sortino Ratio Rank: 83
VUAG.L Omega Ratio Rank: 85
VUAG.L Calmar Ratio Rank: 80
VUAG.L Martin Ratio Rank: 79

VEVE.AS

VEVE.AS Risk / Return Rank: 78
VEVE.AS Sharpe Ratio Rank: 73
VEVE.AS Sortino Ratio Rank: 73
VEVE.AS Omega Ratio Rank: 76
VEVE.AS Calmar Ratio Rank: 81
VEVE.AS Martin Ratio Rank: 85

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. VEVE.AS - 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 Vanguard FTSE Developed World UCITS ETF (VEVE.AS). 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	VEVE.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.76	-0.37
Sortino ratio: Return per unit of downside risk	3.22	3.80	-0.58
Omega ratio: Gain probability vs. loss probability	1.45	1.52	-0.07
Calmar ratio: Return relative to maximum drawdown	3.66	4.32	-0.66
Martin ratio: Return relative to average drawdown	13.20	17.42	-4.21

VUAG.L vs. VEVE.AS - Sharpe Ratio Comparison

The current VUAG.L Sharpe Ratio is 2.39, which is comparable to the VEVE.AS Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of VUAG.L and VEVE.AS, 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. VEVE.AS - Drawdown Comparison

The maximum VUAG.L drawdown since its inception was -30.82%, which is greater than VEVE.AS's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for VUAG.L and VEVE.AS.

Drawdown Indicators

	VUAG.L	VEVE.AS	Difference
Max Drawdown Largest peak-to-trough decline	-30.82%	-26.14%	-4.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-6.81%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-20.88%	-19.06%	-1.82%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-19.06%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.14%	—
Current Drawdown Current decline from peak	-1.82%	-0.40%	-1.42%
Average Drawdown Average peak-to-trough decline	-5.47%	-6.18%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.70%	+0.28%

Volatility

VUAG.L vs. VEVE.AS - Volatility Comparison

Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) has a higher volatility of 3.57% compared to Vanguard FTSE Developed World UCITS ETF (VEVE.AS) at 3.09%. This indicates that VUAG.L's price experiences larger fluctuations and is considered to be riskier than VEVE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUAG.L	VEVE.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	3.09%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	7.56%	7.75%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	10.63%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.36%	13.46%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	17.48%	+0.40%

VUAG.L vs. VEVE.AS - Expense Ratio Comparison

VUAG.L has a 0.07% expense ratio, which is lower than VEVE.AS's 0.12% 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. VEVE.AS - Dividend Comparison

VUAG.L has not paid dividends to shareholders, while VEVE.AS's dividend yield for the trailing twelve months is around 1.23%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEVE.AS Vanguard FTSE Developed World UCITS ETF	1.23%	1.41%	1.46%	1.73%	2.04%	1.43%	1.61%	1.89%	2.28%	1.97%	1.98%	2.05%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

VUAG.L and VEVE.AS 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 VEVE.AS?

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 VEVE.AS?

VUAG.L is cheaper with a 0.07% expense ratio, compared with 0.12% for VEVE.AS.

What is the main difference between VUAG.L and VEVE.AS?

VUAG.L is categorized as S&P 500, while VEVE.AS is Global Equities. VUAG.L tracks S&P 500 Index, while VEVE.AS tracks MSCI ACWI NR USD. Their fees differ too: 0.07% for VUAG.L and 0.12% for VEVE.AS.