VUAA: Vanguard S&P 500 UCITS ETF (Acc) returns, drawdowns and risk
Funds that track the S&P 500, the 500 largest US companies weighted by market value. They hold the same stocks, so differences come from fees, tracking, currency and how dividends are paid. Accumulating share class; the distributing one is VUSA.
Data updated October 2026
VUAA · Borsa Italiana · EURCategory: S&P 500 ETFsData from May 2019
From May 2019 to October 2026 VUAA returned 14.1% a year on average with dividends reinvested, in euros: €10,000 invested at the start grew to €26,644.
Its deepest fall was 36.6%, from January 2020 to March 2020, and it took about 13 months to get back to the previous high. Annual volatility was 23.1%; at the last close it was 1.6% below its high.
Against VWCE (Vanguard FTSE All-World UCITS ETF (Acc)), over the 87 months both have data, the correlation of monthly returns was 0.94: they moved almost in lockstep. Beta was 1.11. In months when VWCE rose, VUAA moved 113% as much on average; in months when VWCE fell, 117% as much.
Key figures
- Annual return (CAGR)
- +14.1%
- 1-year return
- +22.6%
- 5 years, a year
- +13.5%
- 10 years, a year
- —
- Annual volatility
- 23.1%
- Maximum drawdown
- −36.6%
- Sharpe ratio
- 0.66
- Worst year
- 2022: −14.6%
Trailing returns
| Period | VUAA | VWCE |
|---|---|---|
| 1 year | +22.6% | +22.0% |
| 3 years, a year | +20.3% | +19.5% |
| 5 years, a year | +13.5% | +11.5% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of €10,000: VUAA vs VWCE
Month-end values from August 2019, the first month both funds have data.
VUAA drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | VUAA | VWCE |
|---|---|---|
| 2026(partial) | +18.0% | +17.5% |
| 2025 | +4.3% | +9.2% |
| 2024 | +33.7% | +24.4% |
| 2023 | +22.1% | +18.2% |
| 2022 | −14.6% | −13.5% |
| 2021 | +41.0% | +28.6% |
| 2020 | −4.1% | +5.4% |
| 2019(partial) | +14.8% | — |
VUAA compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of VUAA?
From May 2019 to October 2026 VUAA returned 14.1% a year on average (CAGR) with dividends reinvested, in EUR. Over the last 5 years: +13.5% a year. Over the last 12 months: +22.6%.
What was the worst drawdown of VUAA?
36.6%, from January 2020 to March 2020; it took about 13 months from the previous high to get back to it.
How volatile is VUAA?
Annual volatility was 23.1% over the period. Its worst month was −9.3% and 61% of months were positive. Worst calendar year: 2022 (−14.6%).
How closely does VUAA follow VWCE?
Over 87 months the correlation of monthly returns was 0.94, so they moved almost in lockstep, with a beta of 1.11.
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Other S&P 500 ETFs
- All S&P 500 ETFsReturns and risk side by side
- SPY — SPDR S&P 500 ETF TrustCAGR +11.0%
- VOO — Vanguard S&P 500 ETFCAGR +17.1%
- IVV — iShares Core S&P 500 ETFCAGR +11.1%
- CSSPX — iShares Core S&P 500 UCITS ETF (Acc)CAGR +15.2%
- SPLG — SPDR Portfolio S&P 500 ETFCAGR +17.2%
- VUSA — Vanguard S&P 500 UCITS ETF (Dist)CAGR +14.9%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.