ETF comparison

VUSA vs SPXS

Vanguard S&P 500 UCITS ETF (USD) Distributing
IE00B3XXRP09Vanguard
Invesco S&P 500 UCITS ETF Acc
IE00B3YCGJ38Invesco
Figures as of September 30, 2026 (VUSA) · October 1, 2026 (SPXS)

The comparison in short

VUSA (Vanguard S&P 500 UCITS ETF (USD) Distributing, IE00B3XXRP09) and SPXS (Invesco S&P 500 UCITS ETF Acc, IE00B3YCGJ38) both track the S&P 500 index. SPXS has the lower total expense ratio (TER): 0.05% a year against 0.07% for VUSA, 0.02 percentage points less, or about 2 a year on 10,000 invested. VUSA is the larger fund, with USD 88.97bn in assets against USD 58,979m for SPXS, about 1.5 times the size. SPXS replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured. In 2025, VUSA returned +17.6% and SPXS +17.8%, a gap of 0.2 percentage points. Over 10 years, VUSA returned +15.0% a year and SPXS +15.2% a year. SPXS reinvests its income (accumulating), while VUSA pays it out (distributing). VUSA holds the index securities directly (physical replication), while SPXS replicates its index through a swap (synthetic). Both are domiciled in Ireland. VUSA and SPXS both carry a risk indicator (SRRI) of 4 on the 1–7 scale. This is a factual comparison from the fund houses' documents, not investment advice.

Side by side

FigureVUSASPXS
ISINIE00B3XXRP09IE00B3YCGJ38
Exchange tickersVUSA, VUSDSPXS, P500, SPXP
Fund houseVanguardInvesco
Total expense ratio (TER)0.07%0.05%
Ongoing charges (KID)0.07%0.05%
Fund sizeUSD 88.97bnUSD 58,979m
Launch dateMay 22, 2012May 20, 2010
ReplicationPhysicalSynthetic (swap)
DomicileIrelandIreland
Distribution policyDistributingAccumulating
Share class currencyUSDUSD
Number of holdings512—
Risk indicator (SRRI)4 / 74 / 7
SFDR classification—Article 6
BenchmarkS&P 500 Net Total ReturnS&P 500 Index

Performance

Calendar-year returns

YearVUSASPXSDifference
2025+17.6%+17.8%−0.2
2024+24.7%+24.9%−0.2
2023+25.9%+26.2%−0.3
2022−18.3%−18.2%−0.1
2021+28.4%+28.6%−0.2
2020+18.0%+18.3%−0.3

Annualised returns

PeriodVUSASPXSDifference
1 year+15.5%+15.4%+0.1
3 years+22.6%+22.8%−0.2
5 years+13.5%+13.5%0.0
10 years+15.0%+15.2%−0.2
Returns as published by each fund house, in each share class's currency and net of the fund's charges. The difference is in percentage points. Past performance does not predict future returns.

Holdings

SPXS replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured.

Top 10 holdings of VUSA

#HoldingWeight
1
NVIDIA Corp.
8.10%
2
Apple Inc.
7.00%
3
Microsoft Corp.
5.70%
4
Alphabet Inc.
5.40%
5
Amazon.com Inc.
3.80%
6
Broadcom Inc.
2.70%
7
Meta Platforms Inc.
1.90%
8
Micron Technology Inc.
1.60%
9
Tesla Inc.
1.60%
10
JPMorgan Chase & Co.
1.40%

Top 10 holdings of SPXS

SPXS replicates its index through a swap: the securities it publishes are the collateral basket behind the swap, not the index, so they are not compared.
#HoldingWeight
1
NVIDIA ORD
8.10%
2
APPLE ORD
7.00%
3
MICROSOFT ORD
5.70%
4
AMAZON COM ORD
3.80%
5
ALPHABET CL A ORD
3.00%
6
BROADCOM ORD
2.70%
7
ALPHABET CL C ORD
2.40%
8
META PLATFORMS CL A ORD
1.90%
9
MICRON TECHNOLOGY ORD
1.60%
10
TESLA ORD
1.60%
Compare every published holding of VUSA and SPXS in the overlap checker

Sectors and countries

Largest sectors of VUSA

  1. Information Technology37.9%
  2. Financials12.3%
  3. Communication Services9.5%
  4. Health Care9.3%
  5. Consumer Discretionary9.1%
  6. Industrials8.3%
+ 4 more

Largest sectors of SPXS

  1. Information technology36.7%
  2. Financials12.5%
  3. Communication services9.7%
  4. Consumer discretionary9.4%
  5. Health care9.1%
  6. Industrials8.8%
+ 4 more

Largest countries of VUSA

  1. United States99.9%
  2. United Kingdom0.1%

Largest countries of SPXS

  1. United States99.8%
  2. Switzerland0.1%
  3. Netherlands0.1%

Frequently asked questions

What is the difference between VUSA and SPXS?

VUSA (Vanguard S&P 500 UCITS ETF (USD) Distributing, IE00B3XXRP09) and SPXS (Invesco S&P 500 UCITS ETF Acc, IE00B3YCGJ38) both track the S&P 500 index. SPXS has the lower total expense ratio (TER): 0.05% a year against 0.07% for VUSA, 0.02 percentage points less, or about 2 a year on 10,000 invested. SPXS reinvests its income (accumulating), while VUSA pays it out (distributing). VUSA holds the index securities directly (physical replication), while SPXS replicates its index through a swap (synthetic). Both are domiciled in Ireland. This is a factual comparison from the fund houses' documents, not investment advice.

Which is cheaper, VUSA or SPXS?

SPXS has the lower total expense ratio (TER): 0.05% a year against 0.07% for VUSA, 0.02 percentage points less, or about 2 a year on 10,000 invested. Their key information documents state ongoing charges of 0.07% for VUSA and 0.05% for SPXS.

Which is bigger, VUSA or SPXS?

VUSA is the larger fund, with USD 88.97bn in assets against USD 58,979m for SPXS, about 1.5 times the size.

Do VUSA and SPXS hold the same companies?

SPXS replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured.

How did VUSA and SPXS perform in 2025?

In 2025, VUSA returned +17.6% and SPXS +17.8%, a gap of 0.2 percentage points. Over 10 years, VUSA returned +15.0% a year and SPXS +15.2% a year. Over the past year, VUSA returned +15.5% and SPXS +15.4%. Past performance does not predict future returns.

Are VUSA and SPXS accumulating or distributing?

VUSA is distributing: it pays its income out to investors. SPXS is accumulating: it reinvests its income in the fund.

Go further

Other comparisons

Figures are read from the documents each fund house publishes (product page, factsheet, key information document, holdings file) and refreshed weekly. Names and tickers identify the products; FundFacts API is independent of every fund house and index provider. This comparison is factual information, not investment advice or a recommendation to buy or sell either fund.