CSNDX.MI vs. SPY
CSNDX.MI (iShares NASDAQ 100 UCITS ETF USD (Acc)) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - CSNDX.MI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CSNDX.MI returned 20.37%/yr vs 14.54%/yr for SPY. A 0.55 correlation means they provide meaningful diversification when combined. CSNDX.MI charges 0.30%/yr vs 0.09%/yr for SPY.
Performance
CSNDX.MI vs. SPY - Performance Comparison
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Different Trading Currencies
CSNDX.MI is traded in EUR, while SPY is traded in USD. To make them comparable, the SPY values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSNDX.MI achieves a 18.07% return, which is significantly higher than SPY's 12.53% return. Over the past 10 years, CSNDX.MI has outperformed SPY with an annualized return of 20.37%, while SPY has yielded a comparatively lower 14.54% annualized return.
CSNDX.MI
- 1D
- 0.00%
- 1M
- -1.57%
- 6M
- 16.09%
- YTD
- 18.07%
- 1Y
- 28.85%
- 3Y*
- 22.77%
- 5Y*
- 15.82%
- 10Y*
- 20.37%
SPY
- 1D
- -0.96%
- 1M
- 1.13%
- 6M
- 9.55%
- YTD
- 12.53%
- 1Y
- 21.30%
- 3Y*
- 18.58%
- 5Y*
- 13.73%
- 10Y*
- 14.54%
CSNDX.MI vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSNDX.MI iShares NASDAQ 100 UCITS ETF USD (Acc) | 18.07% | 6.48% | 35.09% | 50.07% | -30.24% | 39.83% | 35.45% | 41.91% | 3.62% | 16.34% |
SPY State Street SPDR S&P 500 ETF | 12.53% | 3.75% | 33.13% | 22.39% | -13.10% | 38.36% | 8.58% | 34.19% | -0.09% | 6.75% |
Correlation
The correlation between CSNDX.MI and SPY is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2010 | 0.55 |
The correlation between CSNDX.MI and SPY shifts across timeframes, from 0.55 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CSNDX.MI vs. SPY — Risk / Return Rank
CSNDX.MI
SPY
CSNDX.MI vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF USD (Acc) (CSNDX.MI) 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.
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.
| CSNDX.MI | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.90 | +0.08 |
| Martin ratioReturn relative to average drawdown | 8.50 | 10.84 | -2.34 |
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Drawdowns
CSNDX.MI vs. SPY - Drawdown Comparison
The maximum CSNDX.MI drawdown since its inception was -40.49%, smaller than the maximum SPY drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for CSNDX.MI and SPY.
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Drawdown Indicators
| CSNDX.MI | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.49% | -48.98% | +8.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.95% | -7.38% | -2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -26.71% | -23.87% | -2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -31.19% | -23.87% | -7.32% |
Max Drawdown (10Y)Largest decline over 10 years | -31.19% | -33.22% | +2.03% |
Current DrawdownCurrent decline from peak | -3.48% | -1.74% | -1.74% |
Average DrawdownAverage peak-to-trough decline | -10.01% | -7.55% | -2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 1.97% | +1.48% |
Volatility
CSNDX.MI vs. SPY - Volatility Comparison
iShares NASDAQ 100 UCITS ETF USD (Acc) (CSNDX.MI) has a higher volatility of 5.78% compared to State Street SPDR S&P 500 ETF (SPY) at 3.15%. This indicates that CSNDX.MI'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
| CSNDX.MI | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.78% | 3.15% | +2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 12.55% | 9.28% | +3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.21% | 12.68% | +4.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.51% | 17.03% | +3.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.97% | 18.47% | +1.50% |
CSNDX.MI vs. SPY - Expense Ratio Comparison
CSNDX.MI has a 0.30% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
CSNDX.MI vs. SPY - Dividend Comparison
CSNDX.MI has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSNDX.MI iShares NASDAQ 100 UCITS ETF USD (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 | 1.01% | 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
CSNDX.MI and SPY have a correlation of 0.66, 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 0.30% for CSNDX.MI.
CSNDX.MI is categorized as Nasdaq-100, while SPY is S&P 500. CSNDX.MI tracks NASDAQ-100 Index, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.30% for CSNDX.MI and 0.09% for SPY.
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