ETF comparison

IUES vs VUAA

iShares S&P 500 EUR Hedged UCITS ETF (Acc)
IE00B3ZW0K18iShares
Vanguard S&P 500 UCITS ETF (USD) Accumulating
IE00BFMXXD54Vanguard
Figures as of October 1, 2026 (IUES) · September 30, 2026 (VUAA)

The comparison in short

IUES (iShares S&P 500 EUR Hedged UCITS ETF (Acc), IE00B3ZW0K18) and VUAA (Vanguard S&P 500 UCITS ETF (USD) Accumulating, IE00BFMXXD54) both track the S&P 500 index. VUAA has the lower total expense ratio (TER): 0.07% a year against 0.20% for IUES, 0.13 percentage points less, or about 13 a year on 10,000 invested. VUAA is the larger fund, with USD 89,226m in assets against EUR 9.0bn for IUES. IUES reports 505 holdings and VUAA 512. 8 of the holdings published by IUES (top 10) and VUAA (top 10) appear in both lists; measured on those published positions only, the overlap is at least 35.9%. Shared holdings include NVIDIA, APPLE, MICROSOFT, ALPHABET CLASS A and AMAZON.COM INC. In 2025, IUES returned +15.2% and VUAA +17.6%, a gap of 2.4 percentage points. Over 5 years, IUES returned +10.6% a year and VUAA +13.5% a year. Returns are in each share class's currency (EUR and USD), so part of the gap reflects exchange rates. IUES and VUAA both reinvest their income (accumulating share classes). IUES and VUAA both hold the index securities directly (physical replication). Both are domiciled in Ireland. IUES 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

FigureIUESVUAA
ISINIE00B3ZW0K18IE00BFMXXD54
Exchange tickersIUES, IUSE, IBCFVUAA, VUAG
Fund houseiSharesVanguard
Total expense ratio (TER)0.20%0.07%
Ongoing charges (KID)0.20%0.07%
Fund sizeEUR 9.0bnUSD 89,226m
Launch dateSeptember 30, 2010May 14, 2019
ReplicationPhysicalPhysical
DomicileIrelandIreland
Distribution policyAccumulatingAccumulating
Share class currencyEURUSD
Number of holdings505512
Risk indicator (SRRI)4 / 74 / 7
BenchmarkS&P 500 Index, 100% EURHedged Net ReturnS&P 500 Net Total Return

Performance

Calendar-year returns

YearIUESVUAADifference
2025+15.2%+17.6%−2.4
2024+22.5%+24.7%−2.2
2023+22.4%+25.9%−3.5
2022−20.9%−18.3%−2.6
2021+27.0%+28.4%−1.4
2020+15.2%+18.0%−2.8

Annualised returns

PeriodIUESVUAADifference
1 year+12.8%+15.5%−2.7
3 years+20.1%+22.6%−2.5
5 years+10.6%+13.5%−2.9
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

8 of the holdings published by IUES (top 10) and VUAA (top 10) appear in both lists; measured on those published positions only, the overlap is at least 35.9%. Shared holdings include NVIDIA, APPLE, MICROSOFT, ALPHABET CLASS A and AMAZON.COM INC.

Top 10 holdings of IUES

#HoldingWeight
1
NVIDIAIn both
8.47%
2
APPLEIn both
7.31%
3
MICROSOFTIn both
5.78%
4
AMAZON.COM INCIn both
3.70%
5
ALPHABET CLASS AIn both
3.01%
6
BROADCOM INCIn both
2.48%
7
META PLATFORMS CLASS AIn both
2.43%
8
ALPHABET CLASS CIn both
2.41%
9
MICRON TECHNOLOGYIn both
1.88%
10
ADVANCED MICRO DEVICES
1.52%

Top 10 holdings of VUAA

#HoldingWeight
1
NVIDIA Corp.In both
8.10%
2
Apple Inc.In both
7.00%
3
Microsoft Corp.In both
5.70%
4
Alphabet Inc.In both
5.40%
5
Amazon.com Inc.In both
3.80%
6
Broadcom Inc.In both
2.70%
7
Meta Platforms Inc.In both
1.90%
8
Micron Technology Inc.In both
1.60%
9
Tesla Inc.
1.60%
10
JPMorgan Chase & Co.
1.40%
Compare every published holding of IUES and VUAA in the overlap checker

Sectors and countries

Largest sectors of IUES

  1. Information Technology40.4%
  2. Financials11.4%
  3. Communication9.9%
  4. Health Care9.1%
  5. Consumer Discretionary8.7%
  6. Industrials8.2%
+ 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 IUES

  1. United States100.3%

Largest countries of VUAA

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

Frequently asked questions

What is the difference between IUES and VUAA?

IUES (iShares S&P 500 EUR Hedged UCITS ETF (Acc), IE00B3ZW0K18) and VUAA (Vanguard S&P 500 UCITS ETF (USD) Accumulating, IE00BFMXXD54) both track the S&P 500 index. VUAA has the lower total expense ratio (TER): 0.07% a year against 0.20% for IUES, 0.13 percentage points less, or about 13 a year on 10,000 invested. IUES and VUAA both reinvest their income (accumulating share classes). IUES and VUAA both hold the index securities directly (physical replication). Both are domiciled in Ireland. The share class of IUES is in EUR, that of VUAA in USD. This is a factual comparison from the fund houses' documents, not investment advice.

Which is cheaper, IUES or VUAA?

VUAA has the lower total expense ratio (TER): 0.07% a year against 0.20% for IUES, 0.13 percentage points less, or about 13 a year on 10,000 invested. Their key information documents state ongoing charges of 0.20% for IUES and 0.07% for VUAA.

Which is bigger, IUES or VUAA?

VUAA is the larger fund, with USD 89,226m in assets against EUR 9.0bn for IUES.

Do IUES and VUAA hold the same companies?

8 of the holdings published by IUES (top 10) and VUAA (top 10) appear in both lists; measured on those published positions only, the overlap is at least 35.9%. Shared holdings include NVIDIA, APPLE, MICROSOFT, ALPHABET CLASS A and AMAZON.COM INC.

How did IUES and VUAA perform in 2025?

In 2025, IUES returned +15.2% and VUAA +17.6%, a gap of 2.4 percentage points. Over 5 years, IUES returned +10.6% a year and VUAA +13.5% a year. Over the past year, IUES returned +12.8% and VUAA +15.5%. Returns are in each share class's currency (EUR and USD), so part of the gap reflects exchange rates. Past performance does not predict future returns.

Are IUES and VUAA accumulating or distributing?

IUES 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.