ASML.AS vs. CSPX.AS

Last updated Jun 4, 2026

ASML.AS (ASML Holding NV) is a stock, while CSPX.AS (iShares Core S&P 500 UCITS ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ASML.AS returned 33.77%/yr vs 15.02%/yr for CSPX.AS. A 0.60 correlation means they provide meaningful diversification when combined.

Performance

ASML.AS vs. CSPX.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in ASML Holding NV (ASML.AS) and iShares Core S&P 500 UCITS ETF (CSPX.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASML.AS achieves a 61.76% return, which is significantly higher than CSPX.AS's 11.63% return. Over the past 10 years, ASML.AS has outperformed CSPX.AS with an annualized return of 33.77%, while CSPX.AS has yielded a comparatively lower 15.02% annualized return.

ASML.AS

• 1D: 1.60%
• 1M: 25.08%
• YTD: 61.76%
• 6M: 54.71%
• 1Y: 129.23%
• 3Y*: 31.23%
• 5Y*: 22.75%
• 10Y*: 33.77%

CSPX.AS

• 1D: -0.30%
• 1M: 6.08%
• YTD: 11.63%
• 6M: 11.61%
• 1Y: 25.69%
• 3Y*: 19.12%
• 5Y*: 14.80%
• 10Y*: 15.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASML.AS vs. CSPX.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASML.AS ASML Holding NV	61.76%	37.08%	0.36%	36.66%	-27.83%	78.74%	52.10%	95.32%	-4.67%	37.45%
CSPX.AS iShares Core S&P 500 UCITS ETF	11.63%	4.00%	33.87%	22.28%	-14.24%	40.26%	7.72%	32.99%	-0.36%	7.13%

Correlation

The correlation between ASML.AS and CSPX.AS is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 6, 2014	0.60

The correlation between ASML.AS and CSPX.AS has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.

Return for Risk

ASML.AS vs. CSPX.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASML.AS

ASML.AS Risk / Return Rank: 94
ASML.AS Sharpe Ratio Rank: 95
ASML.AS Sortino Ratio Rank: 92
ASML.AS Omega Ratio Rank: 91
ASML.AS Calmar Ratio Rank: 96
ASML.AS Martin Ratio Rank: 95

CSPX.AS

CSPX.AS Risk / Return Rank: 68
CSPX.AS Sharpe Ratio Rank: 67
CSPX.AS Sortino Ratio Rank: 65
CSPX.AS Omega Ratio Rank: 69
CSPX.AS Calmar Ratio Rank: 70
CSPX.AS Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASML.AS vs. CSPX.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ASML Holding NV (ASML.AS) and iShares Core S&P 500 UCITS ETF (CSPX.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASML.AS	CSPX.AS	Difference
Sharpe ratio: Return per unit of total volatility	3.18	2.25	+0.93
Sortino ratio: Return per unit of downside risk	3.61	3.06	+0.55
Omega ratio: Gain probability vs. loss probability	1.47	1.42	+0.05
Calmar ratio: Return relative to maximum drawdown	8.03	3.57	+4.47
Martin ratio: Return relative to average drawdown	20.84	12.76	+8.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASML.AS vs. CSPX.AS - Sharpe Ratio Comparison

The current ASML.AS Sharpe Ratio is 3.18, which is higher than the CSPX.AS Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of ASML.AS and CSPX.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ASML.AS	CSPX.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	2.25	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.96	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	0.92	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.93	-0.39

Drawdowns

ASML.AS vs. CSPX.AS - Drawdown Comparison

The maximum ASML.AS drawdown since its inception was -89.99%, which is greater than CSPX.AS's maximum drawdown of -33.65%. Use the drawdown chart below to compare losses from any high point for ASML.AS and CSPX.AS.

Drawdown Indicators

	ASML.AS	CSPX.AS	Difference
Max Drawdown Largest peak-to-trough decline	-89.99%	-33.65%	-56.34%
Max Drawdown (1Y) Largest decline over 1 year	-15.81%	-7.11%	-8.70%
Max Drawdown (3Y) Largest decline over 3 years	-44.77%	-23.37%	-21.40%
Max Drawdown (5Y) Largest decline over 5 years	-47.93%	-23.37%	-24.56%
Max Drawdown (10Y) Largest decline over 10 years	-47.93%	-33.65%	-14.28%
Current Drawdown Current decline from peak	0.00%	-0.30%	+0.30%
Average Drawdown Average peak-to-trough decline	-32.58%	-4.29%	-28.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.13%	2.00%	+4.13%

Volatility

ASML.AS vs. CSPX.AS - Volatility Comparison

ASML Holding NV (ASML.AS) has a higher volatility of 14.45% compared to iShares Core S&P 500 UCITS ETF (CSPX.AS) at 2.64%. This indicates that ASML.AS's price experiences larger fluctuations and is considered to be riskier than CSPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASML.AS	CSPX.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.45%	2.64%	+11.81%
Volatility (6M) Calculated over the trailing 6-month period	30.66%	7.37%	+23.29%
Volatility (1Y) Calculated over the trailing 1-year period	39.95%	11.36%	+28.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.44%	15.13%	+23.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.13%	16.05%	+18.08%

Dividends

ASML.AS vs. CSPX.AS - Dividend Comparison

ASML.AS's dividend yield for the trailing twelve months is around 0.50%, while CSPX.AS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASML.AS ASML Holding NV	0.50%	0.71%	0.92%	0.87%	1.28%	0.47%	0.64%	1.19%	1.02%	0.83%	0.98%	0.85%
CSPX.AS iShares Core S&P 500 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASML.AS and CSPX.AS in my portfolio?

ASML.AS and CSPX.AS have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.