CSH.PA vs. IUSE.L
CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) and IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) are both exchange-traded funds - CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index, while IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index. Both are passively managed. Over the past 10 years, CSH.PA returned 0.68%/yr vs 12.04%/yr for IUSE.L. At a correlation of -0.04, they often move in opposite directions. CSH.PA charges 0.10%/yr vs 0.20%/yr for IUSE.L.
Performance
CSH.PA vs. IUSE.L - Performance Comparison
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Returns By Period
In the year-to-date period, CSH.PA achieves a 1.05% return, which is significantly lower than IUSE.L's 7.54% return. Over the past 10 years, CSH.PA has underperformed IUSE.L with an annualized return of 0.68%, while IUSE.L has yielded a comparatively higher 12.04% annualized return.
CSH.PA
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 1.04%
- YTD
- 1.05%
- 1Y
- 1.99%
- 3Y*
- 2.92%
- 5Y*
- 1.94%
- 10Y*
- 0.68%
IUSE.L
- 1D
- -1.30%
- 1M
- -0.21%
- 6M
- 6.68%
- YTD
- 7.54%
- 1Y
- 17.02%
- 3Y*
- 16.87%
- 5Y*
- 10.14%
- 10Y*
- 12.04%
CSH.PA vs. IUSE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 1.05% | 2.25% | 3.69% | 3.22% | -0.11% | -0.70% | -0.69% | -0.61% | -0.55% | -0.45% |
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 7.54% | 14.95% | 23.21% | 23.05% | -21.17% | 27.85% | 14.81% | 26.33% | -8.40% | 19.04% |
Correlation
The correlation between CSH.PA and IUSE.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | -0.04 |
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Return for Risk
CSH.PA vs. IUSE.L — Risk / Return Rank
CSH.PA
IUSE.L
CSH.PA vs. IUSE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) and iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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.
| CSH.PA | IUSE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.86 | 1.26 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 5.77 | 1.98 | +3.80 |
| Martin ratioReturn relative to average drawdown | 34.47 | 7.93 | +26.53 |
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Drawdowns
CSH.PA vs. IUSE.L - Drawdown Comparison
The maximum CSH.PA drawdown since its inception was -5.07%, smaller than the maximum IUSE.L drawdown of -34.75%. Use the drawdown chart below to compare losses from any high point for CSH.PA and IUSE.L.
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Drawdown Indicators
| CSH.PA | IUSE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.07% | -34.75% | +29.68% |
Max Drawdown (1Y)Largest decline over 1 year | -0.35% | -8.67% | +8.32% |
Max Drawdown (3Y)Largest decline over 3 years | -0.35% | -18.33% | +17.98% |
Max Drawdown (5Y)Largest decline over 5 years | -0.75% | -26.23% | +25.48% |
Max Drawdown (10Y)Largest decline over 10 years | -3.57% | -34.75% | +31.18% |
Current DrawdownCurrent decline from peak | -0.32% | -1.97% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -4.25% | +2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 2.16% | -2.10% |
Volatility
CSH.PA vs. IUSE.L - Volatility Comparison
The current volatility for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) is 0.53%, while iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a volatility of 3.05%. This indicates that CSH.PA experiences smaller price fluctuations and is considered to be less risky than IUSE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSH.PA | IUSE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 3.05% | -2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 0.65% | 9.34% | -8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.71% | 12.08% | -11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.42% | 16.07% | -15.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 16.29% | -15.97% |
CSH.PA vs. IUSE.L - Expense Ratio Comparison
CSH.PA has a 0.10% expense ratio, which is lower than IUSE.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CSH.PA vs. IUSE.L - Dividend Comparison
Neither CSH.PA nor IUSE.L has paid dividends to shareholders.
Frequently Asked Questions
CSH.PA and IUSE.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH.PA is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.20% for IUSE.L.
CSH.PA is categorized as Money Market, while IUSE.L is S&P 500. CSH.PA tracks Solactive Euro Overnight Return Index, while IUSE.L tracks S&P 500 EUR Hedged Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for CSH.PA and 0.20% for IUSE.L.
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