Learn · 6 min read · Updated 6 June 2026
Same index, many wrappers
The S&P 500 is a fixed index, so an S&P 500 UCITS ETF from iShares, Vanguard, SPDR or Invesco gives you the same underlying holdings. The differences are in the wrapper: the share class (accumulating or distributing), the listing/ticker, the cost, and the replication method.
The main players
- CSPX (iShares Core S&P 500, accumulating) — large, popular, Irish-domiciled. Also trades as SXR8 on Xetra — same fund, different exchange.
- VUSA (Vanguard S&P 500, distributing) — pays quarterly dividends; the income-investor default. Acc version: VUAA / VUAG.
- SPY5 / SPYL (SPDR S&P 500) and VUAA are other common Irish-domiciled lines.
- Synthetic option — some S&P 500 UCITS ETFs use synthetic replication and can achieve near-0% US dividend withholding (see below).
💡 CSPX and SXR8 are the identical fund listed in different places/currencies. Match on the ISIN, not the ticker — the same Irish fund shows different tickers per exchange.
What to compare
- Accumulating vs distributing — CSPX reinvests; VUSA pays cash. Pick by your income goal — full guide.
- TER — core S&P 500 UCITS funds are very cheap, roughly 0.07%–0.15%. Small differences compound over decades.
- Size & liquidity — the largest funds have the tightest spreads; this matters more than a 0.01% TER difference for most people.
- Replication — physical funds withhold 15% on US dividends (Irish treaty); some synthetic funds achieve ~0%. See withholding tax explained.
- Currency line — buy the line that trades in your account currency to cut FX costs (currency hedging is a separate question).
Which should you pick?
For growth, a low-cost accumulating fund like CSPX is the common default. For income, VUSA (distributing) pays you quarterly. Both are Irish-domiciled, so both get the 15% US withholding rate and avoid US estate tax versus the US-listed VOO/SPY — which most non-US investors can't buy anyway (why).
Put your shortlist head-to-head in Compare, or replicate a specific US fund with the US ETF → UCITS finder.
Put CSPX, VUSA and others side by side on cost and yield.