# CSPX vs VUAA vs SPY5: which ETF for UAE residents?

Source page: https://www.rudowealth.com/etf/compare/cspx-vs-vuaa-vs-spy5

All three are Ireland-domiciled UCITS ETFs that track the S&P 500, the 500 largest US companies, so their returns move almost together. For an investor living in the UAE the differences that matter are the yearly cost and whether dividends are reinvested or paid out.

## In short

- Same index: all 3 track the S&P 500, so their returns move almost together.
- Cost: lowest SPY5 at 0.03% a year, highest CSPX and VUAA at 0.07% a year.
- Domicile: all 3 are Irish UCITS funds, generally not treated as US assets for US estate tax; each pays 15% on its US dividends under the US and Ireland treaty.
- Dividends: SPY5 pays them out; CSPX and VUAA reinvest them inside the fund.

Facts, not a recommendation. Tax depends on your nationality, residence and facts.

| ETF | Name | Domicile | Index | Dividends | Expense ratio | Listing |
|---|---|---|---|---|---|---|
| CSPX | iShares Core S&P 500 UCITS ETF (Acc) | Ireland (UCITS) | S&P 500 | Reinvested (accumulating) | 0.07% | London, US dollars |
| VUAA | Vanguard S&P 500 UCITS ETF (Acc) | Ireland (UCITS) | S&P 500 | Reinvested (accumulating) | 0.07% | London, US dollars |
| SPY5 | SPDR S&P 500 UCITS ETF (Dist) | Ireland (UCITS) | S&P 500 | Paid out quarterly | 0.03% | London, US dollars |

Returns in US dollars (3 years and longer annualised):

| ETF | 1 year | 3 years | 5 years | 10 years |
|---|---|---|---|---|


What differs for an investor living in the UAE:
- US estate tax: a US-domiciled ETF counts as a US asset. For a person who is not a US citizen or resident, US estate tax can apply above US$60,000 of US assets, at rates that rise to 40%. Ireland-domiciled UCITS ETFs are generally not treated as US assets for this tax.
- Tax on US dividends: the UAE has no income tax treaty with the United States, so US dividends paid to a UAE resident usually have 30% withheld. An Irish UCITS fund pays 15% on the US dividends it receives, under the US and Ireland treaty.
- The outcome depends on your nationality, residence and facts, so confirm your own position with a tax adviser. Sources: IRS (https://www.irs.gov/individuals/international-taxpayers/some-nonresidents-with-us-assets-must-file-estate-tax-returns; https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z).

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RuDo Wealth is a fee-only cross-border advisory operating through two separate companies. India: RuDo Wealth Investment Advisory, SEBI Registered Investment Adviser, registration INA000019503. UAE: RuDo Digital Wealth, FSRA Financial Services Permission 220155, Category 3C (Retail), ADGM. The entity permitted to serve you depends on your country of residence.

General information, not a recommendation to buy or sell any fund. Past performance does not indicate future returns.