BGX.L vs. CS1.L
BGX.L (Expat Bulgaria SOFIX UCITS ETF) and CS1.L (Amundi ETF MSCI Spain UCITS ETF EUR (C)) are both Europe Equities funds - BGX.L tracks the SOFIX Index while CS1.L tracks the BME IBEX 35 NR EUR. Both are passively managed. Over the past 5 years, BGX.L returned 12.34%/yr vs 22.19%/yr for CS1.L. At a 0.09 correlation, their price movements are largely independent.
Performance
BGX.L vs. CS1.L - Performance Comparison
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Different Trading Currencies
BGX.L is traded in EUR, while CS1.L is traded in GBp. To make them comparable, the CS1.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BGX.L achieves a 6.06% return, which is significantly lower than CS1.L's 13.92% return.
BGX.L
- 1D
- -0.12%
- 1M
- -0.28%
- 6M
- -11.22%
- YTD
- 6.06%
- 1Y
- 17.12%
- 3Y*
- 18.92%
- 5Y*
- 12.34%
- 10Y*
- —
CS1.L
- 1D
- -0.56%
- 1M
- 2.00%
- 6M
- 10.96%
- YTD
- 13.92%
- 1Y
- 43.51%
- 3Y*
- 31.45%
- 5Y*
- 22.19%
- 10Y*
- 12.07%
BGX.L vs. CS1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BGX.L Expat Bulgaria SOFIX UCITS ETF | 6.06% | 26.55% | 14.63% | 18.28% | -9.77% | 33.45% | -18.72% | -10.38% | -6.25% |
CS1.L Amundi ETF MSCI Spain UCITS ETF EUR (C) | 13.92% | 54.15% | 19.62% | 26.77% | -0.51% | 7.14% | -12.51% | 14.94% | -7.51% |
Correlation
The correlation between BGX.L and CS1.L is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2018 | 0.09 |
The correlation between BGX.L and CS1.L shifts across timeframes, from -0.04 (1 year) to 0.11 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BGX.L vs. CS1.L — Risk / Return Rank
BGX.L
CS1.L
BGX.L vs. CS1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Bulgaria SOFIX UCITS ETF (BGX.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BGX.L | CS1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.48 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 4.53 | -3.44 |
| Martin ratioReturn relative to average drawdown | 2.09 | 15.63 | -13.54 |
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Drawdowns
BGX.L vs. CS1.L - Drawdown Comparison
The maximum BGX.L drawdown since its inception was -36.41%, smaller than the maximum CS1.L drawdown of -52.19%. Use the drawdown chart below to compare losses from any high point for BGX.L and CS1.L.
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Drawdown Indicators
| BGX.L | CS1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.41% | -52.19% | +15.78% |
Max Drawdown (1Y)Largest decline over 1 year | -16.13% | -9.56% | -6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -16.13% | -12.80% | -3.33% |
Max Drawdown (5Y)Largest decline over 5 years | -17.72% | -17.48% | -0.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.60% | — |
Current DrawdownCurrent decline from peak | -13.26% | -2.44% | -10.82% |
Average DrawdownAverage peak-to-trough decline | -12.33% | -15.28% | +2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.45% | 2.78% | +5.67% |
Volatility
BGX.L vs. CS1.L - Volatility Comparison
The current volatility for Expat Bulgaria SOFIX UCITS ETF (BGX.L) is 1.97%, while Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L) has a volatility of 4.23%. This indicates that BGX.L experiences smaller price fluctuations and is considered to be less risky than CS1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGX.L | CS1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 4.23% | -2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 8.19% | 13.98% | -5.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.95% | 16.43% | -2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.88% | 18.72% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.32% | 19.26% | -4.94% |
Dividends
BGX.L vs. CS1.L - Dividend Comparison
Neither BGX.L nor CS1.L has paid dividends to shareholders.
Frequently Asked Questions
BGX.L and CS1.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGX.L tracks SOFIX Index, while CS1.L tracks BME IBEX 35 NR EUR. They also come from different issuers: Expat and Amundi.
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