SPDR vs Vanguard
Both providers track indices, so neither "performs" better than the other — what separates them is cost, range and which markets they actually cover. SPDR has 19 products in this catalog and Vanguard has 22, overlapping in 7 categories. Vanguard offers the cheapest fund in 4 of those 7 categories.
SPDR
- Products
- 19
- Lowest TER
- 0.03%
- Average TER
- 0.23%
- Categories
- 8
Vanguard
- Products
- 22
- Lowest TER
- 0.07%
- Average TER
- 0.16%
- Categories
- 9
Which one is cheaper, and where
Vanguard offers the cheapest fund in 4 of the 7 categories both cover.
The cheapest fund from each, category by category
Each provider’s lowest-fee product within every shared category, head to head. The index each one tracks is shown too, because two funds in the same category do not always track the same thing.
| Category | SPDR | Vanguard | Difference |
|---|---|---|---|
| Fixed income | SPDR Bloomberg Euro Government BondBloomberg Euro Government Bond0.15% | Vanguard Global Aggregate Bond EUR-HBloomberg Global Aggregate Float Adjusted0.10% | €5/year per €10,000 |
| USA | SPDR S&P 500S&P 5000.03% | Vanguard S&P 500S&P 5000.07% | €4/year per €10,000 |
| Europe | SPDR MSCI EuropeMSCI Europe0.12% | Vanguard FTSE 100FTSE 1000.09% | €3/year per €10,000 |
| Emerging | SPDR MSCI Emerging MarketsMSCI Emerging Markets0.20% | Vanguard FTSE Emerging MarketsFTSE Emerging0.22% | €2/year per €10,000 |
| Dividends | SPDR S&P Euro Dividend AristocratsS&P Euro High Yield Dividend Aristocrats0.30% | Vanguard FTSE All-World High Dividend YieldFTSE All-World High Dividend Yield0.29% | €1/year per €10,000 |
| Small Caps | SPDR Russell 2000 US Small CapRussell 20000.30% | Vanguard Global Small-Cap Index Fund EUR AccMSCI World Small Cap0.29% | €1/year per €10,000 |
| Global | SPDR MSCI WorldMSCI World0.12% | Vanguard FTSE Developed WorldFTSE Developed0.12% | Same cost |
What each one covers
Only at SPDR
Only at Vanguard
Structural differences
SPDR
- Accumulating
- 74%
- Physical replication
- 100%
- Are ETFs
- 100%
- Domicile
- Ireland
Vanguard
- Accumulating
- 55%
- Physical replication
- 100%
- Are ETFs
- 68%
- Domicile
- Ireland
Other provider comparisons
Frequently asked questions
Is SPDR or Vanguard cheaper?+
Vanguard offers the cheapest fund in 4 of the 7 categories both cover, against 2 for SPDR. But "cheaper overall" is the wrong question: what matters is which is cheaper in the category you are actually buying.
Where is the difference between SPDR and Vanguard biggest?+
In fixed income: SPDR Bloomberg Euro Government Bond charges 0.15% against 0.10% for Vanguard Global Aggregate Bond EUR-H. On €10,000 invested that is a €5.00 difference every year, in favour of Vanguard.
Which one has the wider range?+
Vanguard, with 22 products against 19. Coverage is not identical either: SPDR covers a specific thematic sector where Vanguard does not; Vanguard covers the Japanese market, sustainable (ESG) criteria where SPDR does not.
Are there structural differences beyond fees?+
Yes. SPDR's products in this catalog are 74% accumulating and 100% physically replicated, domiciled in Ireland. Vanguard's are 55% accumulating and 100% physical, domiciled in Ireland. For a Spanish investor the accumulating/distributing split matters for tax, and domicile matters for dividend withholding.
Does this comparison look at past performance?+
No, deliberately. Two funds tracking the same index deliver almost identical returns before fees, so comparing their past returns tells you about the index, not about the provider. The fee is the part the provider actually controls, and the only one you know for certain the day you invest.
Cost and coverage comparison computed over this site’s catalog, which is a sample and not each provider’s full product range. Returns are not compared: two funds tracking the same index perform almost identically before fees, so past performance tells you about the index, not the provider. Educational content, not a recommendation.