CSH.PA vs. SPGP.L
CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) and SPGP.L (iShares Gold Producers UCITS ETF) are both exchange-traded funds - CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index, while SPGP.L is a Precious Metals fund tracking the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 10 years, CSH.PA returned 0.92%/yr vs 12.85%/yr for SPGP.L. At a correlation of -0.01, they often move in opposite directions. CSH.PA charges 0.10%/yr vs 0.55%/yr for SPGP.L.
Performance
CSH.PA vs. SPGP.L - Performance Comparison
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Different Trading Currencies
CSH.PA is traded in EUR, while SPGP.L is traded in GBp. To make them comparable, the SPGP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSH.PA achieves a 0.78% return, which is significantly higher than SPGP.L's -4.78% return. Over the past 10 years, CSH.PA has underperformed SPGP.L with an annualized return of 0.92%, while SPGP.L has yielded a comparatively higher 12.85% annualized return.
CSH.PA
- 1D
- 0.01%
- 1M
- 0.14%
- YTD
- 0.78%
- 6M
- 0.94%
- 1Y
- 1.88%
- 3Y*
- 2.96%
- 5Y*
- 1.89%
- 10Y*
- 0.92%
SPGP.L
- 1D
- 5.41%
- 1M
- -15.79%
- YTD
- -4.78%
- 6M
- -3.26%
- 1Y
- 50.06%
- 3Y*
- 35.96%
- 5Y*
- 18.31%
- 10Y*
- 12.85%
CSH.PA vs. SPGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.78% | 2.25% | 3.69% | 3.22% | -0.06% | -0.65% | 1.93% | -0.61% | -0.55% | -0.45% |
SPGP.L iShares Gold Producers UCITS ETF | -4.78% | 125.03% | 18.26% | 5.91% | -5.58% | -3.24% | 12.95% | 49.98% | -5.55% | -6.63% |
Correlation
The correlation between CSH.PA and SPGP.L is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | -0.01 |
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Return for Risk
CSH.PA vs. SPGP.L — Risk / Return Rank
CSH.PA
SPGP.L
CSH.PA vs. SPGP.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 Gold Producers UCITS ETF (SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.76 | ||
| Sortino ratioReturn per unit of downside risk | +4.93 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.22 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 11.24 | 1.53 | +9.71 |
| Martin ratioReturn relative to average drawdown | 57.34 | 4.33 | +53.01 |
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Drawdowns
CSH.PA vs. SPGP.L - Drawdown Comparison
The maximum CSH.PA drawdown since its inception was -3.73%, smaller than the maximum SPGP.L drawdown of -84.03%. Use the drawdown chart below to compare losses from any high point for CSH.PA and SPGP.L.
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Drawdown Indicators
| CSH.PA | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.73% | -84.03% | +80.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -32.60% | +32.42% |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | -32.60% | +32.42% |
Max Drawdown (5Y)Largest decline over 5 years | -0.75% | -38.61% | +37.86% |
Max Drawdown (10Y)Largest decline over 10 years | -2.26% | -45.65% | +43.39% |
Current DrawdownCurrent decline from peak | 0.00% | -28.36% | +28.36% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -59.22% | +58.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 11.50% | -11.47% |
Volatility
CSH.PA vs. SPGP.L - Volatility Comparison
The current volatility for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) is 0.09%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 13.20%. This indicates that CSH.PA experiences smaller price fluctuations and is considered to be less risky than SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 13.20% | -13.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 33.60% | -33.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.50% | 41.48% | -40.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 35.46% | -35.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.64% | 33.89% | -33.25% |
CSH.PA vs. SPGP.L - Expense Ratio Comparison
CSH.PA has a 0.10% expense ratio, which is lower than SPGP.L's 0.55% expense ratio.
Dividends
CSH.PA vs. SPGP.L - Dividend Comparison
Neither CSH.PA nor SPGP.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.05% | 2.60% |
SPGP.L iShares Gold Producers UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CSH.PA and SPGP.L have a correlation of -0.03, 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 0.55% for SPGP.L.
CSH.PA is categorized as Money Market, while SPGP.L is Precious Metals. CSH.PA tracks Solactive Euro Overnight Return Index, while SPGP.L tracks EMIX Global Mining Global Gold TR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for CSH.PA and 0.55% for SPGP.L.
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