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CMB1.L vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CMB1.L vs. SPY

Last updated Jun 4, 2026

CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - CMB1.L is a Europe Equities fund tracking the FTSE Italia AllShare TR EUR, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CMB1.L returned 16.24%/yr vs 16.44%/yr for SPY. At a 0.36 correlation, their price movements are largely independent. CMB1.L charges 0.33%/yr vs 0.09%/yr for SPY.

Performance

CMB1.L vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CMB1.L is traded in GBp, while SPY is traded in USD. To make them comparable, the SPY values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CMB1.L achieves a 13.57% return, which is significantly higher than SPY's 11.74% return. Both investments have delivered pretty close results over the past 10 years, with CMB1.L having a 16.24% annualized return and SPY not far ahead at 16.44%.

CMB1.L

1D
-0.72%
1M
5.16%
YTD
13.57%
6M
17.25%
1Y
34.15%
3Y*
28.69%
5Y*
19.90%
10Y*
16.24%

SPY

1D
0.00%
1M
6.30%
YTD
11.74%
6M
10.75%
1Y
29.36%
3Y*
19.47%
5Y*
15.14%
10Y*
16.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CMB1.L vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CMB1.L
iShares FTSE MIB UCITS ETF (Acc)		13.57%43.83%13.25%30.68%-3.56%18.29%1.52%24.83%-12.74%21.01%
SPY
State Street SPDR S&P 500 ETF		11.32%9.33%27.07%19.87%-8.45%29.95%14.86%26.23%1.09%11.18%

Correlation

The correlation between CMB1.L and SPY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

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

0.25

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

0.31

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2010

0.36

The correlation between CMB1.L and SPY shifts across timeframes, from 0.25 (3 years) to 0.39 (1 year), reflecting how their relationship changes across market environments.

CMB1.L vs. SPY - Sectors Allocation Comparison

Sectors
CMB1.L
SPY

Financial Services

45.1%
11.8%

Utilities

17.2%
2.4%

Industrials

10.8%
7.8%

Consumer Cyclical

10.0%
10.3%

Energy

8.8%
3.6%

Technology

4.6%
35.9%

Healthcare

1.1%
8.4%

Communication Services

1.1%
11.3%

Basic Materials

0.6%
1.8%

Consumer Defensive

0.5%
4.8%

Real Estate

0.3%
1.9%

Financial Services

CMB1.L
45.1%
SPY
11.8%

Utilities

CMB1.L
17.2%
SPY
2.4%

Industrials

CMB1.L
10.8%
SPY
7.8%

Consumer Cyclical

CMB1.L
10.0%
SPY
10.3%

Energy

CMB1.L
8.8%
SPY
3.6%

Technology

CMB1.L
4.6%
SPY
35.9%

Healthcare

CMB1.L
1.1%
SPY
8.4%

Communication Services

CMB1.L
1.1%
SPY
11.3%

Basic Materials

CMB1.L
0.6%
SPY
1.8%

Consumer Defensive

CMB1.L
0.5%
SPY
4.8%

Real Estate

CMB1.L
0.3%
SPY
1.9%

Compare stocks, funds, or ETFs

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

iShares FTSE MIB UCITS ETF (Acc)

State Street SPDR S&P 500 ETF

Often compared with CMB1.L:
CMB1.L vs. XDEM.LCMB1.L vs. IITU.LCMB1.L vs. H50E.LCMB1.L vs. X7PP.LCMB1.L vs. IQSA.LCMB1.L vs. EQQQ.LCMB1.L vs. XMBR.L
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

CMB1.L vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CMB1.L
CMB1.L Risk / Return Rank: 6767
Overall Rank
CMB1.L Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
CMB1.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
CMB1.L Omega Ratio Rank: 6565
Omega Ratio Rank
CMB1.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
CMB1.L Martin Ratio Rank: 6666
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7070
Overall Rank
SPY Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6969
Sortino Ratio Rank
SPY Omega Ratio Rank: 7070
Omega Ratio Rank
SPY Calmar Ratio Rank: 6262
Calmar Ratio Rank
SPY Martin Ratio Rank: 7575
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.

CMB1.L vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) and State Street SPDR S&P 500 ETF (SPY). 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.

CMB1.LSPYDifference
Sharpe ratioReturn per unit of total volatility
2.26
2.57

-0.31

Sortino ratioReturn per unit of downside risk
3.07
3.33

-0.26

Omega ratioGain probability vs. loss probability

1.40

1.48

-0.09

Calmar ratioReturn relative to maximum drawdown

3.30

3.84

-0.54

Martin ratioReturn relative to average drawdown

12.01

14.68

-2.67

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

CMB1.L vs. SPY - Sharpe Ratio Comparison

The current CMB1.L Sharpe Ratio is 2.26, which is comparable to the SPY Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of CMB1.L and SPY, 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

CMB1.LSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.26

2.57

-0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.11

0.95

+0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.92

-0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.69

-0.22

Drawdowns

CMB1.L vs. SPY - Drawdown Comparison

The maximum CMB1.L drawdown since its inception was -47.37%, which is greater than SPY's maximum drawdown of -34.68%. Use the drawdown chart below to compare losses from any high point for CMB1.L and SPY.

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Drawdown Indicators

CMB1.LSPYDifference

Max Drawdown

Largest peak-to-trough decline

-47.37%

-34.68%

-12.69%

Max Drawdown (1Y)

Largest decline over 1 year

-10.32%

-7.69%

-2.63%

Max Drawdown (3Y)

Largest decline over 3 years

-15.62%

-21.94%

+6.32%

Max Drawdown (5Y)

Largest decline over 5 years

-24.19%

-21.94%

-2.25%

Max Drawdown (10Y)

Largest decline over 10 years

-36.61%

-25.78%

-10.83%

Current Drawdown

Current decline from peak

-0.72%

0.00%

-0.72%

Average Drawdown

Average peak-to-trough decline

-8.80%

-4.77%

-4.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

2.01%

+0.83%

Volatility

CMB1.L vs. SPY - Volatility Comparison

iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) has a higher volatility of 4.47% compared to State Street SPDR S&P 500 ETF (SPY) at 2.53%. This indicates that CMB1.L's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CMB1.LSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

2.53%

+1.94%

Volatility (6M)

Calculated over the trailing 6-month period

12.15%

8.13%

+4.02%

Volatility (1Y)

Calculated over the trailing 1-year period

15.06%

11.48%

+3.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.00%

16.02%

+1.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.52%

18.02%

+1.50%

CMB1.L vs. SPY - Expense Ratio Comparison

CMB1.L has a 0.33% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

CMB1.L vs. SPY - Dividend Comparison

CMB1.L has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.

PositionTTM20252024202320222021202020192018201720162015
CMB1.L
iShares FTSE MIB UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
State Street SPDR S&P 500 ETF		0.98%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

CMB1.L and SPY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPY is cheaper with a 0.09% expense ratio, compared with 0.33% for CMB1.L.

CMB1.L is categorized as Europe Equities, while SPY is S&P 500. CMB1.L tracks FTSE Italia AllShare TR EUR, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.33% for CMB1.L and 0.09% for SPY.

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