XNAS.L vs. VUAA.L

Last updated Jun 9, 2026

XNAS.L (Xtrackers NASDAQ 100 UCITS ETF) and VUAA.L (Vanguard S&P 500 UCITS ETF USD Accumulation) are both exchange-traded funds - XNAS.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while VUAA.L is a S&P 500 fund tracking the S&P 500 Net Total Return. Both are passively managed. Over the past 5 years, XNAS.L returned 25.23%/yr vs 13.25%/yr for VUAA.L. Their correlation of 0.86 suggests significant overlap in exposure. XNAS.L charges 0.20%/yr vs 0.07%/yr for VUAA.L.

Performance

XNAS.L vs. VUAA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XNAS.L achieves a 16.34% return, which is significantly higher than VUAA.L's 8.35% return.

XNAS.L

• 1D: -0.36%
• 1M: 1.62%
• YTD: 16.34%
• 6M: 15.52%
• 1Y: 36.22%
• 3Y*: 27.22%
• 5Y*: 25.23%
• 10Y*: —

VUAA.L

• 1D: -0.72%
• 1M: 0.72%
• YTD: 8.35%
• 6M: 9.09%
• 1Y: 25.29%
• 3Y*: 21.36%
• 5Y*: 13.25%
• 10Y*: —

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

XNAS.L vs. VUAA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XNAS.L Xtrackers NASDAQ 100 UCITS ETF	16.34%	19.82%	26.59%	88.40%	-25.44%	-8.88%
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation	8.35%	17.37%	25.27%	26.68%	-18.63%	25.24%

Correlation

The correlation between XNAS.L and VUAA.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.86

The correlation between XNAS.L and VUAA.L has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

XNAS.L vs. VUAA.L - Sectors Allocation Comparison

Sectors	XNAS.L	VUAA.L
Technology	53.7%	35.7%
Communication Services	15.8%	11.3%
Consumer Cyclical	12.2%	10.2%
Consumer Defensive	7.7%	4.9%
Healthcare	4.2%	8.5%
Industrials	3.1%	8.3%
Utilities	1.4%	2.4%
Basic Materials	1.1%	1.8%
Energy	0.6%	3.5%
Financial Services	0.2%	11.6%
Real Estate	0.1%	1.9%

Return for Risk

XNAS.L vs. VUAA.L — Risk / Return Rank

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

XNAS.L

XNAS.L Risk / Return Rank: 74
XNAS.L Sharpe Ratio Rank: 78
XNAS.L Sortino Ratio Rank: 78
XNAS.L Omega Ratio Rank: 74
XNAS.L Calmar Ratio Rank: 72
XNAS.L Martin Ratio Rank: 70

VUAA.L

VUAA.L Risk / Return Rank: 73
VUAA.L Sharpe Ratio Rank: 73
VUAA.L Sortino Ratio Rank: 78
VUAA.L Omega Ratio Rank: 72
VUAA.L Calmar Ratio Rank: 68
VUAA.L Martin Ratio Rank: 76

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.

XNAS.L vs. VUAA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.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.

	XNAS.L	VUAA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.14	+0.12
Sortino ratio: Return per unit of downside risk	3.13	3.15	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	3.30	3.08	+0.22
Martin ratio: Return relative to average drawdown	11.81	13.15	-1.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XNAS.L vs. VUAA.L - Sharpe Ratio Comparison

The current XNAS.L Sharpe Ratio is 2.26, which is comparable to the VUAA.L Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of XNAS.L and VUAA.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.

Sharpe Ratios by Period

	XNAS.L	VUAA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.14	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	0.83	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.92	-0.27

Drawdowns

XNAS.L vs. VUAA.L - Drawdown Comparison

The maximum XNAS.L drawdown since its inception was -34.26%, roughly equal to the maximum VUAA.L drawdown of -34.05%. Use the drawdown chart below to compare losses from any high point for XNAS.L and VUAA.L.

Drawdown Indicators

	XNAS.L	VUAA.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-34.05%	-0.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-8.18%	-2.73%
Max Drawdown (3Y) Largest decline over 3 years	-22.92%	-18.39%	-4.53%
Max Drawdown (5Y) Largest decline over 5 years	-27.52%	-24.36%	-3.16%
Current Drawdown Current decline from peak	-3.52%	-2.31%	-1.21%
Average Drawdown Average peak-to-trough decline	-10.37%	-5.00%	-5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	1.92%	+1.14%

Volatility

XNAS.L vs. VUAA.L - Volatility Comparison

Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) has a higher volatility of 5.49% compared to Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) at 3.31%. This indicates that XNAS.L's price experiences larger fluctuations and is considered to be riskier than VUAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNAS.L	VUAA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	3.31%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	12.01%	8.67%	+3.34%
Volatility (1Y) Calculated over the trailing 1-year period	16.02%	11.79%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.70%	16.01%	+6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.23%	17.81%	+7.42%

XNAS.L vs. VUAA.L - Expense Ratio Comparison

XNAS.L has a 0.20% expense ratio, which is higher than VUAA.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XNAS.L vs. VUAA.L - Dividend Comparison

Neither XNAS.L nor VUAA.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.63%
XNAS.L Xtrackers NASDAQ 100 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XNAS.L and VUAA.L in my portfolio?

With a correlation of 0.93, XNAS.L and VUAA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XNAS.L or VUAA.L?

On fees, VUAA.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, XNAS.L or VUAA.L?

VUAA.L is cheaper with a 0.07% expense ratio, compared with 0.20% for XNAS.L.

What is the main difference between XNAS.L and VUAA.L?

XNAS.L is categorized as Nasdaq-100, while VUAA.L is S&P 500. XNAS.L tracks NASDAQ-100 Index, while VUAA.L tracks S&P 500 Net Total Return. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.20% for XNAS.L and 0.07% for VUAA.L.