AYE2.DE vs. CSSPX.MI
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and CSSPX.MI (iShares Core S&P 500 UCITS ETF USD (Acc)) are both exchange-traded funds - AYE2.DE is a European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while CSSPX.MI is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 14.77%/yr for CSSPX.MI. At a 0.49 correlation, their price movements are largely independent. AYE2.DE charges 0.25%/yr vs 0.07%/yr for CSSPX.MI.
Performance
AYE2.DE vs. CSSPX.MI - Performance Comparison
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Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly lower than CSSPX.MI's 11.35% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
CSSPX.MI
- 1D
- -0.13%
- 1M
- 5.24%
- YTD
- 11.35%
- 6M
- 11.43%
- 1Y
- 25.64%
- 3Y*
- 18.86%
- 5Y*
- 14.77%
- 10Y*
- 14.96%
AYE2.DE vs. CSSPX.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
CSSPX.MI iShares Core S&P 500 UCITS ETF USD (Acc) | 11.35% | 4.27% | 33.76% | 22.03% | -14.58% | 25.61% |
Correlation
The correlation between AYE2.DE and CSSPX.MI is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.49 |
The correlation between AYE2.DE and CSSPX.MI shifts across timeframes, from 0.43 (3 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AYE2.DE vs. CSSPX.MI — Risk / Return Rank
AYE2.DE
CSSPX.MI
AYE2.DE vs. CSSPX.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSSPX.MI). 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.
| AYE2.DE | CSSPX.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.41 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 3.59 | -2.37 |
| Martin ratioReturn relative to average drawdown | 5.15 | 12.78 | -7.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AYE2.DE | CSSPX.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 2.24 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.96 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.92 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.93 | -0.48 |
Drawdowns
AYE2.DE vs. CSSPX.MI - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum CSSPX.MI drawdown of -33.56%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and CSSPX.MI.
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Drawdown Indicators
| AYE2.DE | CSSPX.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -33.56% | +17.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -7.14% | +4.04% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -23.26% | +19.57% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -23.26% | +6.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.56% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.41% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -4.10% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 2.01% | -1.28% |
Volatility
AYE2.DE vs. CSSPX.MI - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) is 0.98%, while iShares Core S&P 500 UCITS ETF USD (Acc) (CSSPX.MI) has a volatility of 2.65%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than CSSPX.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYE2.DE | CSSPX.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 2.65% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 7.54% | -4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 11.46% | -7.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 15.18% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 16.08% | -10.82% |
AYE2.DE vs. CSSPX.MI - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is higher than CSSPX.MI's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AYE2.DE vs. CSSPX.MI - Dividend Comparison
Neither AYE2.DE nor CSSPX.MI has paid dividends to shareholders.
Frequently Asked Questions
AYE2.DE and CSSPX.MI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSSPX.MI is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSSPX.MI is cheaper with a 0.07% expense ratio, compared with 0.25% for AYE2.DE.
AYE2.DE is categorized as European High Yield Bonds, while CSSPX.MI is S&P 500. AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while CSSPX.MI tracks S&P 500 Index. Their fees differ too: 0.25% for AYE2.DE and 0.07% for CSSPX.MI.
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