ZPA5.DE vs. VUSA.L

Last updated Jul 21, 2026

ZPA5.DE (Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc) and VUSA.L (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - ZPA5.DE is a ESG fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG+ Index, while VUSA.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ZPA5.DE returned 18.63% vs 22.57% for VUSA.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.

Performance

ZPA5.DE vs. VUSA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc (ZPA5.DE) and Vanguard S&P 500 UCITS ETF (VUSA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZPA5.DE is traded in EUR, while VUSA.L is traded in GBP. To make them comparable, the VUSA.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZPA5.DE achieves a 9.01% return, which is significantly lower than VUSA.L's 12.42% return.

ZPA5.DE

• 1D: 0.00%
• 1M: 0.37%
• 6M: 9.80%
• YTD: 9.01%
• 1Y: 18.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.60%

VUSA.L

• 1D: 0.44%
• 1M: 0.41%
• 6M: 11.82%
• YTD: 12.42%
• 1Y: 22.57%
• 3Y*: 18.34%
• 5Y*: 13.51%
• 10Y*: 14.28%
• ALL TIME*: 15.70%

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

ZPA5.DE vs. VUSA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ZPA5.DE Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc	9.01%	2.76%	34.10%	4.52%
VUSA.L Vanguard S&P 500 UCITS ETF	12.42%	3.68%	33.48%	4.17%

Correlation

The correlation between ZPA5.DE and VUSA.L is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Nov 27, 2023	0.92

The correlation between ZPA5.DE and VUSA.L has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

ZPA5.DE vs. VUSA.L — Risk / Return Rank

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

ZPA5.DE

ZPA5.DE Risk / Return Rank: 33
ZPA5.DE Sharpe Ratio Rank: 28
ZPA5.DE Sortino Ratio Rank: 31
ZPA5.DE Omega Ratio Rank: 59
ZPA5.DE Calmar Ratio Rank: 26
ZPA5.DE Martin Ratio Rank: 21

VUSA.L

VUSA.L Risk / Return Rank: 76
VUSA.L Sharpe Ratio Rank: 77
VUSA.L Sortino Ratio Rank: 75
VUSA.L Omega Ratio Rank: 77
VUSA.L Calmar Ratio Rank: 75
VUSA.L Martin Ratio Rank: 75

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.

ZPA5.DE vs. VUSA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc (ZPA5.DE) and Vanguard S&P 500 UCITS ETF (VUSA.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.

	ZPA5.DE	VUSA.L	Difference
Sharpe ratio: Return per unit of total volatility	0.76	1.98	-1.21
Sortino ratio: Return per unit of downside risk	1.31	2.70	-1.39
Omega ratio: Gain probability vs. loss probability	1.27	1.36	-0.09
Calmar ratio: Return relative to maximum drawdown	0.91	3.15	-2.24
Martin ratio: Return relative to average drawdown	1.65	11.29	-9.65

ZPA5.DE vs. VUSA.L - Sharpe Ratio Comparison

The current ZPA5.DE Sharpe Ratio is 0.76, which is lower than the VUSA.L Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of ZPA5.DE and VUSA.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

ZPA5.DE vs. VUSA.L - Drawdown Comparison

The maximum ZPA5.DE drawdown since its inception was -23.13%, smaller than the maximum VUSA.L drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for ZPA5.DE and VUSA.L.

Drawdown Indicators

	ZPA5.DE	VUSA.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.13%	-32.91%	+9.78%
Max Drawdown (1Y) Largest decline over 1 year	-20.40%	-7.14%	-13.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.91%	—
Current Drawdown Current decline from peak	-5.73%	-0.87%	-4.86%
Average Drawdown Average peak-to-trough decline	-6.36%	-3.93%	-2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.31%	1.99%	+9.32%

Volatility

ZPA5.DE vs. VUSA.L - Volatility Comparison

Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc (ZPA5.DE) and Vanguard S&P 500 UCITS ETF (VUSA.L) have volatilities of 3.08% and 3.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZPA5.DE	VUSA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	3.05%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	8.26%	7.74%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	24.44%	11.39%	+13.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	15.07%	+4.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	16.18%	+3.53%

ZPA5.DE vs. VUSA.L - Expense Ratio Comparison

Both ZPA5.DE and VUSA.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

ZPA5.DE vs. VUSA.L - Dividend Comparison

ZPA5.DE has not paid dividends to shareholders, while VUSA.L's dividend yield for the trailing twelve months is around 0.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VUSA.L Vanguard S&P 500 UCITS ETF	0.89%	0.95%	1.00%	1.24%	1.41%	1.04%	1.44%	1.50%	1.72%	1.61%	1.58%	1.74%
ZPA5.DE Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZPA5.DE and VUSA.L in my portfolio?

With a correlation of 0.91, ZPA5.DE and VUSA.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, ZPA5.DE or VUSA.L?

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

Which ETF is cheaper, ZPA5.DE or VUSA.L?

ZPA5.DE and VUSA.L have the same expense ratio: 0.07% per year.

What is the main difference between ZPA5.DE and VUSA.L?

ZPA5.DE is categorized as ESG, while VUSA.L is S&P 500. ZPA5.DE tracks S&P 500 Net Zero 2050 Paris-Aligned ESG+ Index, while VUSA.L tracks S&P 500 Index. They also come from different issuers: Amundi and Vanguard.