CSNDX.MI vs. SPYL.DE
CSNDX.MI (iShares NASDAQ 100 UCITS ETF USD (Acc)) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - CSNDX.MI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, CSNDX.MI returned 39.23% vs 26.53% for SPYL.DE. Their correlation of 0.92 suggests significant overlap in exposure. CSNDX.MI charges 0.30%/yr vs 0.03%/yr for SPYL.DE.
Performance
CSNDX.MI vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CSNDX.MI achieves a 20.42% return, which is significantly higher than SPYL.DE's 11.37% return.
CSNDX.MI
- 1D
- -0.81%
- 1M
- 3.91%
- YTD
- 20.42%
- 6M
- 22.03%
- 1Y
- 39.23%
- 3Y*
- 24.49%
- 5Y*
- 18.66%
- 10Y*
- 21.25%
SPYL.DE
- 1D
- -0.15%
- 1M
- 1.89%
- YTD
- 11.37%
- 6M
- 12.70%
- 1Y
- 26.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSNDX.MI vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CSNDX.MI iShares NASDAQ 100 UCITS ETF USD (Acc) | 20.42% | 6.74% | 35.09% | 11.97% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between CSNDX.MI and SPYL.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.92 |
The correlation between CSNDX.MI and SPYL.DE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
CSNDX.MI vs. SPYL.DE — Risk / Return Rank
CSNDX.MI
SPYL.DE
CSNDX.MI vs. SPYL.DE - 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 UCITS ETF USD Unhedged (Acc) (SPYL.DE). 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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.41 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 3.58 | +0.21 |
| Martin ratioReturn relative to average drawdown | 11.18 | 12.72 | -1.54 |
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Drawdowns
CSNDX.MI vs. SPYL.DE - Drawdown Comparison
The maximum CSNDX.MI drawdown since its inception was -31.19%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for CSNDX.MI and SPYL.DE.
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Drawdown Indicators
| CSNDX.MI | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -23.27% | -7.92% |
Max Drawdown (1Y)Largest decline over 1 year | -9.95% | -7.13% | -2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -26.71% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.19% | — | — |
Current DrawdownCurrent decline from peak | -0.81% | -0.46% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -5.42% | -3.23% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 2.01% | +1.36% |
Volatility
CSNDX.MI vs. SPYL.DE - Volatility Comparison
iShares NASDAQ 100 UCITS ETF USD (Acc) (CSNDX.MI) has a higher volatility of 4.28% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that CSNDX.MI's price experiences larger fluctuations and is considered to be riskier than SPYL.DE 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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 2.66% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 7.57% | +3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.61% | 11.52% | +4.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.79% | 14.60% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 14.60% | +5.01% |
CSNDX.MI vs. SPYL.DE - Expense Ratio Comparison
CSNDX.MI has a 0.30% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
CSNDX.MI vs. SPYL.DE - Dividend Comparison
Neither CSNDX.MI nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, CSNDX.MI and SPYL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.30% for CSNDX.MI.
CSNDX.MI is categorized as Nasdaq-100, while SPYL.DE is S&P 500. CSNDX.MI tracks NASDAQ-100 Index, while SPYL.DE 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 0.03% for SPYL.DE.
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