CSP1.L vs. SPXS.L
CSP1.L (iShares Core S&P 500 UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF USD (Acc)) are both S&P 500 funds tracking the S&P 500 Index, from iShares and Invesco respectively. Both are passively managed. Over the past 10 years, CSP1.L returned 14.50%/yr vs -27.66%/yr for SPXS.L. Their correlation of 0.88 suggests significant overlap in exposure. CSP1.L charges 0.07%/yr vs 0.05%/yr for SPXS.L.
Performance
CSP1.L vs. SPXS.L - Performance Comparison
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Different Trading Currencies
CSP1.L is traded in GBp, while SPXS.L is traded in USD. To make them comparable, the SPXS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with CSP1.L having a 9.06% return and SPXS.L slightly higher at 9.10%. Over the past 10 years, CSP1.L has outperformed SPXS.L with an annualized return of 14.50%, while SPXS.L has yielded a comparatively lower -27.66% annualized return.
CSP1.L
- 1D
- -0.97%
- 1M
- -0.90%
- 6M
- 7.47%
- YTD
- 9.06%
- 1Y
- 19.63%
- 3Y*
- 18.26%
- 5Y*
- 13.33%
- 10Y*
- 14.50%
SPXS.L
- 1D
- -1.15%
- 1M
- -1.82%
- 6M
- 7.38%
- YTD
- 9.10%
- 1Y
- -98.80%
- 3Y*
- -74.51%
- 5Y*
- -54.83%
- 10Y*
- -27.66%
CSP1.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSP1.L iShares Core S&P 500 UCITS ETF | 9.06% | 9.37% | 27.35% | 19.79% | -9.05% | 31.07% | 13.65% | 26.42% | 0.01% | 10.83% |
SPXS.L Invesco S&P 500 UCITS ETF USD (Acc) | 9.10% | -98.91% | 27.76% | 20.65% | -8.84% | 30.87% | 14.43% | 25.88% | 0.43% | 11.11% |
Correlation
The correlation between CSP1.L and SPXS.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.88 |
The correlation between CSP1.L and SPXS.L has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.
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Return for Risk
CSP1.L vs. SPXS.L — Risk / Return Rank
CSP1.L
SPXS.L
CSP1.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (CSP1.L) and Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.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.
| CSP1.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.78 | ||
| Sortino ratioReturn per unit of downside risk | +3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.51 | +0.82 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | -1.00 | +3.74 |
| Martin ratioReturn relative to average drawdown | 9.82 | -1.22 | +11.04 |
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Drawdowns
CSP1.L vs. SPXS.L - Drawdown Comparison
The maximum CSP1.L drawdown since its inception was -25.48%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for CSP1.L and SPXS.L.
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Drawdown Indicators
| CSP1.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.48% | -99.07% | +73.59% |
Max Drawdown (1Y)Largest decline over 1 year | -7.12% | -99.07% | +91.95% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -99.07% | +78.30% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -99.07% | +78.30% |
Max Drawdown (10Y)Largest decline over 10 years | -25.48% | -99.07% | +73.59% |
Current DrawdownCurrent decline from peak | -1.91% | -98.93% | +97.02% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -7.36% | +3.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 80.83% | -78.84% |
Volatility
CSP1.L vs. SPXS.L - Volatility Comparison
The current volatility for iShares Core S&P 500 UCITS ETF (CSP1.L) is 2.91%, while Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.L) has a volatility of 3.15%. This indicates that CSP1.L experiences smaller price fluctuations and is considered to be less risky than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSP1.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 3.15% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 7.79% | 9.34% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.02% | 99.46% | -88.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.05% | 46.94% | -26.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 35.32% | -16.99% |
CSP1.L vs. SPXS.L - Expense Ratio Comparison
CSP1.L has a 0.07% expense ratio, which is higher than SPXS.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CSP1.L vs. SPXS.L - Dividend Comparison
Neither CSP1.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, CSP1.L and SPXS.L 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, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.07% for CSP1.L.
Both ETFs track S&P 500 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for CSP1.L and 0.05% for SPXS.L.
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