ETF comparison · Global core
VWCE vs CSPX: overlap by weight, TER & holdings
Vanguard FTSE All-World UCITS ETF (USD) Accumulating vs iShares Core S&P 500 UCITS ETF USD (Acc)
This is the all-world versus US-only decision. CSPX is cheaper and has beaten VWCE whenever US large caps led, but it holds one country; VWCE spreads the same core across roughly 3,700 companies worldwide.
VWCE also trades as VWRA (LSE (USD)), VWRP (LSE (GBP)).
CSPX also trades as SXR8 (Xetra), CSP1 (LSE (GBP)).
VWCE vs CSPX at a glance
| VWCE | CSPX | |
|---|---|---|
| Fund | Vanguard FTSE All-World UCITS ETF (USD) Accumulating | iShares Core S&P 500 UCITS ETF USD (Acc) |
| ISIN | IE00BK5BQT80 | IE00B5BMR087 |
| Index | FTSE All-World | S&P 500 |
| Market exposure | Global (developed + emerging) | US large cap |
| TER | 0.14% | 0.07% |
| Holdings in fund | 3,598 | 505 |
| Fund size | ≈ 93.1 bn USD | ≈ 110 bn USD |
| Domicile | Ireland | Ireland |
| Replication | Physical (sampling) | Physical (full) |
| Use of income | Accumulating | Accumulating |
| Launched | Jul 23, 2019 | May 19, 2010 |
Top shared holdings
| VWCE | CSPX | |
|---|---|---|
| NVDANVIDIA Corp | 4.84% | 7.85% |
| AAPLApple Inc | 4.3% | 7.44% |
| MSFTMicrosoft Corp | 3.54% | 5.64% |
| AMZNAmazon.com Inc | 2.37% | 3.72% |
| GOOGLAlphabet Inc | 1.9% | 3.09% |
| AVGOBroadcom Inc | 1.62% | 2.45% |
| GOOGAlphabet Inc | 1.46% | 2.47% |
| METAMeta Platforms Inc | 1.18% | 2.25% |
| MUMicron Technology Inc | 1.02% | 1.6% |
| TSLATesla Inc | 1.01% | 1.53% |
| JPMJPMorgan Chase & Co | 0.89% | 1.44% |
| LLYEli Lilly & Co | 0.87% | 1.37% |
| AMDAdvanced Micro Devices Inc | 0.72% | 1.26% |
| XOMExxonMobil Holdings Corp | 0.63% | 1.07% |
| JNJJohnson & Johnson | 0.6% | 0.98% |
Weights per fund, normalized. 444 companies appear in both funds.
What the fee gap costs
Growth of 10,000 invested at 7% annual return, after each fund’s TER: 0.14% for VWCE, 0.07% for CSPX.
| VWCE | CSPX | Difference | |
|---|---|---|---|
| After 10 years | 19,416 | 19,543 | 128 |
| After 20 years | 37,697 | 38,194 | 497 |
| After 30 years | 73,191 | 74,643 | 1,452 |
CSPX comes out ahead by about 1,452 per 10,000 invested over 30 years. TER only. Trading spreads, taxes and broker fees are not included.
Where the portfolios differ
| Region | VWCE | CSPX |
|---|---|---|
| United States | 61.4% | 100.0% |
| Japan | 6.0% | 0.0% |
| Taiwan | 3.3% | 0.0% |
| United Kingdom | 3.2% | 0.0% |
| Canada | 3.0% | 0.0% |
| South Korea | 2.5% | 0.0% |
| Hong Kong | 2.5% | 0.0% |
| France | 2.0% | 0.0% |
| Sector | VWCE | CSPX |
|---|---|---|
| Information Technology | 30.7% | 37.7% |
| Financials | 16.9% | 12.2% |
| Industrials | 10.6% | 8.1% |
| Communication Services | 7.5% | 10.0% |
| Materials | 3.9% | 1.8% |
Only rows where the two funds differ by at least 1 percentage point.
Domicile and withholding tax
Both funds are domiciled in Ireland, so fund-level dividend withholding works the same way for both. Domicile does not separate this pair.
Frequently asked questions
Do VWCE and CSPX overlap?+
Yes: 60.1% by weight, with 444 holdings appearing in both funds. 60.43% of VWCE’s weight is also inside CSPX.
Do VWCE and CSPX track the same index?+
No. VWCE tracks the FTSE All-World while CSPX tracks the S&P 500. The 60.1% overlap comes from companies that both indices include.
Which is cheaper, VWCE or CSPX?+
CSPX: 0.07% per year against 0.14% for VWCE. At 7% growth that gap is worth about 1,452 per 10,000 invested over 30 years.
Is it worth holding both VWCE and CSPX?+
They overlap less than similar-looking funds (60.1% by weight), so holding both can make sense when you want each fund’s distinct exposure. Check the shared-holdings table for what you would be doubling up on.
Why does CSPX hold the same companies at higher weights?+
Same companies, smaller universe: CSPX spreads its weight across 505 holdings while VWCE holds 3,598, so each shared position takes a larger slice of CSPX.
More comparisons
Methodology
Overlap is the sum of min(weight A, weight B) across holdings that appear in both funds, with each fund’s stored weights normalized to 100%. Holdings come from issuer feeds and regulatory filings in our ETF holdings database; TER and fund size come from fund profile data and are refreshed regularly. Figures update when the underlying holdings data updates.
Holdings data as of Sep 14, 2026, from our ETF holdings database.