ETF comparison

SPXS vs VUAA

Invesco S&P 500 UCITS ETF Acc
IE00B3YCGJ38Invesco
Vanguard S&P 500 UCITS ETF (USD) Accumulating
IE00BFMXXD54Vanguard
Figures as of October 1, 2026 (SPXS) · September 30, 2026 (VUAA)

The comparison in short

SPXS (Invesco S&P 500 UCITS ETF Acc, IE00B3YCGJ38) and VUAA (Vanguard S&P 500 UCITS ETF (USD) Accumulating, IE00BFMXXD54) both track the S&P 500 index. SPXS has the lower total expense ratio (TER): 0.05% a year against 0.07% for VUAA, 0.02 percentage points less, or about 2 a year on 10,000 invested. VUAA is the larger fund, with USD 89,226m 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, SPXS returned +17.8% and VUAA +17.6%, a gap of 0.2 percentage points. Over 5 years, SPXS returned +13.5% a year and VUAA +13.5% a year. SPXS and VUAA both reinvest their income (accumulating share classes). VUAA holds the index securities directly (physical replication), while SPXS replicates its index through a swap (synthetic). Both are domiciled in Ireland. SPXS and VUAA 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

FigureSPXSVUAA
ISINIE00B3YCGJ38IE00BFMXXD54
Exchange tickersSPXS, P500, SPXPVUAA, VUAG
Fund houseInvescoVanguard
Total expense ratio (TER)0.05%0.07%
Ongoing charges (KID)0.05%0.07%
Fund sizeUSD 58,979mUSD 89,226m
Launch dateMay 20, 2010May 14, 2019
ReplicationSynthetic (swap)Physical
DomicileIrelandIreland
Distribution policyAccumulatingAccumulating
Share class currencyUSDUSD
Number of holdings—512
Risk indicator (SRRI)4 / 74 / 7
SFDR classificationArticle 6—
BenchmarkS&P 500 IndexS&P 500 Net Total Return

Performance

Calendar-year returns

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

Annualised returns

PeriodSPXSVUAADifference
1 year+15.4%+15.5%−0.1
3 years+22.8%+22.6%+0.2
5 years+13.5%+13.5%0.0
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 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%

Top 10 holdings of VUAA

#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%
Compare every published holding of SPXS and VUAA in the overlap checker

Sectors and countries

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 sectors of VUAA

  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 countries of SPXS

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

Largest countries of VUAA

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

Frequently asked questions

What is the difference between SPXS and VUAA?

SPXS (Invesco S&P 500 UCITS ETF Acc, IE00B3YCGJ38) and VUAA (Vanguard S&P 500 UCITS ETF (USD) Accumulating, IE00BFMXXD54) both track the S&P 500 index. SPXS has the lower total expense ratio (TER): 0.05% a year against 0.07% for VUAA, 0.02 percentage points less, or about 2 a year on 10,000 invested. SPXS and VUAA both reinvest their income (accumulating share classes). VUAA 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, SPXS or VUAA?

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

Which is bigger, SPXS or VUAA?

VUAA is the larger fund, with USD 89,226m in assets against USD 58,979m for SPXS, about 1.5 times the size.

Do SPXS and VUAA 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 SPXS and VUAA perform in 2025?

In 2025, SPXS returned +17.8% and VUAA +17.6%, a gap of 0.2 percentage points. Over 5 years, SPXS returned +13.5% a year and VUAA +13.5% a year. Over the past year, SPXS returned +15.4% and VUAA +15.5%. Past performance does not predict future returns.

Are SPXS and VUAA accumulating or distributing?

SPXS is accumulating: it reinvests its income in the fund. VUAA 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.