VUSA: Vanguard S&P 500 UCITS ETF (Dist) 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. Distributing share class; the accumulating one is VUAA.
Data updated October 2026
VUSA · Borsa Italiana · EURCategory: S&P 500 ETFsData from January 2019
From January 2019 to October 2026 VUSA returned 14.9% a year on average with dividends reinvested, in euros: €10,000 invested at the start grew to €29,420.
Its deepest fall was 33.7%, from February 2020 to March 2020, and it took about 11 months to get back to the previous high. Annual volatility was 17.7%; at the last close it was 1.5% 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 0.96: they moved almost in lockstep. Beta was 1.10. In months when VWCE rose, VUSA moved 108% as much on average; in months when VWCE fell, 108% as much.
Key figures
- Annual return (CAGR)
- +14.9%
- 1-year return
- +21.6%
- 5 years, a year
- +12.3%
- 10 years, a year
- —
- Annual volatility
- 17.7%
- Maximum drawdown
- −33.7%
- Sharpe ratio
- 0.84
- Worst year
- 2022: −15.9%
Trailing returns
| Period | VUSA | VWCE |
|---|---|---|
| 1 year | +21.6% | +22.0% |
| 3 years, a year | +19.3% | +19.5% |
| 5 years, a year | +12.3% | +11.5% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of €10,000: VUSA vs VWCE
Month-end values from August 2019, the first month both funds have data.
VUSA drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | VUSA | VWCE |
|---|---|---|
| 2026(partial) | +17.4% | +17.5% |
| 2025 | +3.6% | +9.2% |
| 2024 | +32.1% | +24.4% |
| 2023 | +20.7% | +18.2% |
| 2022 | −15.9% | −13.5% |
| 2021 | +39.3% | +28.6% |
| 2020 | +5.7% | +5.4% |
| 2019(partial) | +22.4% | — |
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 VUSA?
From January 2019 to October 2026 VUSA returned 14.9% a year on average (CAGR) with dividends reinvested, in EUR. Over the last 5 years: +12.3% a year. Over the last 12 months: +21.6%.
What was the worst drawdown of VUSA?
33.7%, from February 2020 to March 2020; it took about 11 months from the previous high to get back to it.
How volatile is VUSA?
Annual volatility was 17.7% over the period. Its worst month was −9.8% and 60% of months were positive. Worst calendar year: 2022 (−15.9%).
How closely does VUSA follow VWCE?
Over 87 months the correlation of monthly returns was 0.96, so they moved almost in lockstep, with a beta of 1.10.
Use VUSA in a free tool
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%
- VUAA — Vanguard S&P 500 UCITS ETF (Acc)CAGR +14.1%
- SPLG — SPDR Portfolio S&P 500 ETFCAGR +17.2%
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.