VUSA vs VUAG, side by side
This is the classic beginner head-scratcher, and the answer is reassuringly boring: they are the same fund. Both track the S&P 500, both charge 0.07% a year, both are run by Vanguard. VUSA pays the dividends out to you as cash (distributing); VUAG reinvests them inside the fund automatically (accumulating). That is the whole difference.
Vanguard S&P 500 UCITS ETF (Dist)VUSA.L£106.19+22% 1Y
Vanguard S&P 500 UCITS ETF (Acc)VUAG.L£108.24+22% 1YVUSA
The same 500 largest US companies as VUAG, but paying the dividends out to you as cash each quarter.
VUAG
The 500 largest companies listed in the United States (Apple, Microsoft, Nvidia and the rest), with dividends reinvested inside the fund.
The numbers, side by side
| Measure | VUSA | VUAG |
|---|---|---|
| What it tracks | S&P 500 | S&P 500 |
| OCF: Ongoing Charge Figure: the fund's yearly running cost, taken automatically. 0.22% is about £2.20 a year for every £1,000 you hold. | 0.07% | 0.07% |
| Acc / Dist: Accumulating (Acc) reinvests dividends inside the fund automatically; Distributing (Dist) pays them to you as cash. Same index either way. | Dist | Acc |
| Holdings: Roughly how many different investments the fund spreads your money across. More holdings usually means more diversification. | 500 | 500 |
| Domicile | Ireland | Ireland |
| Replication | Physical (holds the underlying shares) | Physical (holds the underlying shares) |
| Yield: The income the fund has paid out over the past year as a percentage of its price. Accumulating funds reinvest this for you instead of paying cash. | — | Reinvested inside the fund |
| Price | £106.19 | £108.24 |
| 1Y: How much the share price has moved over the past year. | +22% | +22% |
How they differ
Both track the same index (S&P 500), so the holdings are effectively identical - holding both would not add diversification. The ongoing charge is the same (0.07%), so the fee drag is identical either way. VUAG reinvests dividends inside the fund automatically, while VUSA pays them out to you as cash - same holdings, different plumbing.
Descriptive only - how the two compare on today's data, never a verdict on either.
VUSA, in one line
The same 500 biggest US companies as VUAG, except this version pays the dividends out to you as cash.
Read the full VUSA explainer →VUAG, in one line
The 500 biggest American companies in one very low-cost package, with every dividend quietly reinvested for you.
Read the full VUAG explainer →Common questions
Is VUSA or VUAG right for an ISA?
Both sit happily in a stocks-and-shares ISA. The question is only what you want the dividends to do: arrive as cash you can see and spend (VUSA), or fold themselves back in without you lifting a finger (VUAG). Long-term compounders often prefer accumulating units purely for convenience.
Do they perform differently?
Before dividends, identically - same companies, same fee. VUAG's unit price drifts higher over time because payouts are absorbed into it, while VUSA's total return arrives partly as the cash it pays out. Total return is the same either way.