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CHSPI.SW vs. XESP.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CHSPI.SW vs. XESP.DE

Last updated Jun 4, 2026

CHSPI.SW (iShares Core SPI® ETF (CH)) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - CHSPI.SW tracks the Swiss Performance Index while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 5 years, CHSPI.SW returned 4.57%/yr vs 14.68%/yr for XESP.DE. A 0.57 correlation means they provide meaningful diversification when combined. CHSPI.SW charges 0.10%/yr vs 0.30%/yr for XESP.DE.

Performance

CHSPI.SW vs. XESP.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a CHF 10,000 investment in iShares Core SPI® ETF (CH) (CHSPI.SW) and Xtrackers Spanish Equity UCITS ETF (XESP.DE). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CHSPI.SW is traded in CHF, while XESP.DE is traded in EUR. To make them comparable, the XESP.DE values have been converted to CHF using the latest available exchange rates.

Returns By Period

In the year-to-date period, CHSPI.SW achieves a 2.84% return, which is significantly lower than XESP.DE's 5.34% return.

CHSPI.SW

1D
-0.59%
1M
1.86%
YTD
2.84%
6M
5.90%
1Y
11.09%
3Y*
7.41%
5Y*
4.57%
10Y*
7.78%

XESP.DE

1D
-0.22%
1M
5.28%
YTD
5.34%
6M
10.06%
1Y
32.40%
3Y*
26.53%
5Y*
14.68%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CHSPI.SW vs. XESP.DE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CHSPI.SW
iShares Core SPI® ETF (CH)		2.84%17.87%5.72%5.96%-16.46%23.33%4.07%30.42%-8.30%6.16%
XESP.DE
Xtrackers Spanish Equity UCITS ETF		5.34%56.89%16.07%19.09%-5.93%5.84%-10.38%11.78%-15.74%4.65%

Correlation

The correlation between CHSPI.SW and XESP.DE is 0.53, 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

0.53

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Jul 10, 2017

0.57

The correlation between CHSPI.SW and XESP.DE has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core SPI® ETF (CH)

Xtrackers Spanish Equity UCITS ETF

Often compared with CHSPI.SW:
CHSPI.SW vs. CHDVD.SWCHSPI.SW vs. EWLCHSPI.SW vs. VWRL.LCHSPI.SW vs. SPICHA.SWCHSPI.SW vs. WMTS.SWCHSPI.SW vs. VWRA.LCHSPI.SW vs. VT
Often compared with XESP.DE:
XESP.DE vs. AMES.DEXESP.DE vs. XEQT.TOXESP.DE vs. XESD.DEXESP.DE vs. GLDXESP.DE vs. ESIF.DEXESP.DE vs. ^STOXXXESP.DE vs. FEUQ.DE

Return for Risk

CHSPI.SW vs. XESP.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CHSPI.SW
CHSPI.SW Risk / Return Rank: 2626
Overall Rank
CHSPI.SW Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
CHSPI.SW Sortino Ratio Rank: 2525
Sortino Ratio Rank
CHSPI.SW Omega Ratio Rank: 2727
Omega Ratio Rank
CHSPI.SW Calmar Ratio Rank: 2323
Calmar Ratio Rank
CHSPI.SW Martin Ratio Rank: 2727
Martin Ratio Rank
XESP.DE
XESP.DE Risk / Return Rank: 6464
Overall Rank
XESP.DE Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
XESP.DE Sortino Ratio Rank: 6161
Sortino Ratio Rank
XESP.DE Omega Ratio Rank: 6161
Omega Ratio Rank
XESP.DE Calmar Ratio Rank: 6969
Calmar Ratio Rank
XESP.DE Martin Ratio Rank: 6666
Martin Ratio Rank
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.

CHSPI.SW vs. XESP.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core SPI® ETF (CH) (CHSPI.SW) and Xtrackers Spanish Equity UCITS ETF (XESP.DE). 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.

CHSPI.SWXESP.DEDifference
Sharpe ratioReturn per unit of total volatility
0.95
1.88

-0.93

Sortino ratioReturn per unit of downside risk
1.40
2.59

-1.19

Omega ratioGain probability vs. loss probability

1.18

1.33

-0.14

Calmar ratioReturn relative to maximum drawdown

1.07

3.13

-2.06

Martin ratioReturn relative to average drawdown

3.88

10.73

-6.84

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHSPI.SW vs. XESP.DE - Sharpe Ratio Comparison

The current CHSPI.SW Sharpe Ratio is 0.95, which is lower than the XESP.DE Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of CHSPI.SW and XESP.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CHSPI.SWXESP.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.95

1.88

-0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

0.79

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.40

+0.07

Drawdowns

CHSPI.SW vs. XESP.DE - Drawdown Comparison

The maximum CHSPI.SW drawdown since its inception was -26.58%, smaller than the maximum XESP.DE drawdown of -44.76%. Use the drawdown chart below to compare losses from any high point for CHSPI.SW and XESP.DE.

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Drawdown Indicators

CHSPI.SWXESP.DEDifference

Max Drawdown

Largest peak-to-trough decline

-26.58%

-44.76%

+18.18%

Max Drawdown (1Y)

Largest decline over 1 year

-10.56%

-10.31%

-0.25%

Max Drawdown (3Y)

Largest decline over 3 years

-16.00%

-15.41%

-0.59%

Max Drawdown (5Y)

Largest decline over 5 years

-21.75%

-27.96%

+6.21%

Max Drawdown (10Y)

Largest decline over 10 years

-26.58%

—

—

Current Drawdown

Current decline from peak

-2.49%

-0.96%

-1.53%

Average Drawdown

Average peak-to-trough decline

-5.61%

-12.36%

+6.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

3.01%

-0.13%

Volatility

CHSPI.SW vs. XESP.DE - Volatility Comparison

The current volatility for iShares Core SPI® ETF (CH) (CHSPI.SW) is 3.42%, while Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a volatility of 5.03%. This indicates that CHSPI.SW experiences smaller price fluctuations and is considered to be less risky than XESP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CHSPI.SWXESP.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.42%

5.03%

-1.61%

Volatility (6M)

Calculated over the trailing 6-month period

9.58%

14.03%

-4.45%

Volatility (1Y)

Calculated over the trailing 1-year period

11.91%

17.16%

-5.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.55%

18.32%

-4.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.30%

20.29%

-5.99%

CHSPI.SW vs. XESP.DE - Expense Ratio Comparison

CHSPI.SW has a 0.10% expense ratio, which is lower than XESP.DE's 0.30% expense ratio.

Dividends

CHSPI.SW vs. XESP.DE - Dividend Comparison

CHSPI.SW's dividend yield for the trailing twelve months is around 2.92%, while XESP.DE has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CHSPI.SW
iShares Core SPI® ETF (CH)		2.92%2.65%2.98%2.94%2.84%2.27%2.59%2.66%3.85%2.71%3.15%2.67%
XESP.DE
Xtrackers Spanish Equity 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

CHSPI.SW and XESP.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CHSPI.SW is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CHSPI.SW is cheaper with a 0.10% expense ratio, compared with 0.30% for XESP.DE.

CHSPI.SW tracks Swiss Performance Index, while XESP.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.10% for CHSPI.SW and 0.30% for XESP.DE.

Portfolio Optimizer

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