CMX1.L vs. CSP1.L
CMX1.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - CMX1.L is a Latin America Equities fund tracking the MSCI Mexico Capped Index (Net Return Index), while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CMX1.L returned 6.56%/yr vs 14.69%/yr for CSP1.L. At a 0.45 correlation, their price movements are largely independent. CMX1.L charges 0.65%/yr vs 0.07%/yr for CSP1.L.
Performance
CMX1.L vs. CSP1.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CMX1.L having a 10.08% return and CSP1.L slightly lower at 10.00%. Over the past 10 years, CMX1.L has underperformed CSP1.L with an annualized return of 6.56%, while CSP1.L has yielded a comparatively higher 14.69% annualized return.
CMX1.L
- 1D
- -0.10%
- 1M
- -5.39%
- 6M
- 4.32%
- YTD
- 10.08%
- 1Y
- 32.57%
- 3Y*
- 9.55%
- 5Y*
- 13.21%
- 10Y*
- 6.56%
CSP1.L
- 1D
- -0.49%
- 1M
- -0.38%
- 6M
- 9.59%
- YTD
- 10.00%
- 1Y
- 20.84%
- 3Y*
- 18.90%
- 5Y*
- 13.53%
- 10Y*
- 14.69%
CMX1.L vs. CSP1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.08% | 46.33% | -26.86% | 30.17% | 10.63% | 20.72% | -3.47% | 6.36% | -8.97% | 2.96% |
CSP1.L iShares Core S&P 500 UCITS ETF | 10.00% | 9.37% | 27.35% | 19.79% | -9.05% | 31.07% | 13.65% | 26.42% | 0.01% | 10.83% |
Correlation
The correlation between CMX1.L and CSP1.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010 | 0.45 |
The correlation between CMX1.L and CSP1.L shifts across timeframes, from 0.30 (3 years) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CMX1.L vs. CSP1.L — Risk / Return Rank
CMX1.L
CSP1.L
CMX1.L vs. CSP1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) and iShares Core S&P 500 UCITS ETF (CSP1.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.
| CMX1.L | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.34 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.91 | -0.44 |
| Martin ratioReturn relative to average drawdown | 8.66 | 10.45 | -1.79 |
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Drawdowns
CMX1.L vs. CSP1.L - Drawdown Comparison
The maximum CMX1.L drawdown since its inception was -98.52%, which is greater than CSP1.L's maximum drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for CMX1.L and CSP1.L.
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Drawdown Indicators
| CMX1.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -25.48% | -73.04% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -7.12% | -5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -35.93% | -20.77% | -15.16% |
Max Drawdown (5Y)Largest decline over 5 years | -35.93% | -20.77% | -15.16% |
Max Drawdown (10Y)Largest decline over 10 years | -50.58% | -25.48% | -25.10% |
Current DrawdownCurrent decline from peak | -6.25% | -1.06% | -5.19% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -3.64% | -12.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 1.99% | +1.73% |
Volatility
CMX1.L vs. CSP1.L - Volatility Comparison
iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) has a higher volatility of 5.90% compared to iShares Core S&P 500 UCITS ETF (CSP1.L) at 2.87%. This indicates that CMX1.L's price experiences larger fluctuations and is considered to be riskier than CSP1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMX1.L | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 2.87% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 16.92% | 7.83% | +9.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 11.08% | +9.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.25% | 20.05% | +5.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.83% | 18.33% | +7.50% |
CMX1.L vs. CSP1.L - Expense Ratio Comparison
CMX1.L has a 0.65% expense ratio, which is higher than CSP1.L's 0.07% expense ratio.
Dividends
CMX1.L vs. CSP1.L - Dividend Comparison
Neither CMX1.L nor CSP1.L has paid dividends to shareholders.
Frequently Asked Questions
CMX1.L and CSP1.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSP1.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSP1.L is cheaper with a 0.07% expense ratio, compared with 0.65% for CMX1.L.
CMX1.L is categorized as Latin America Equities, while CSP1.L is S&P 500. CMX1.L tracks MSCI Mexico Capped Index (Net Return Index), while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.65% for CMX1.L and 0.07% for CSP1.L.
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