CSPX.AS vs. SGOV
CSPX.AS (iShares Core S&P 500 UCITS ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - CSPX.AS is a S&P 500 fund tracking the S&P 500 Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, CSPX.AS returned 14.49%/yr vs 4.30%/yr for SGOV. At a 0.15 correlation, their price movements are largely independent. CSPX.AS charges 0.07%/yr vs 0.09%/yr for SGOV.
Performance
CSPX.AS vs. SGOV - Performance Comparison
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Different Trading Currencies
CSPX.AS is traded in EUR, while SGOV is traded in USD. To make them comparable, the SGOV values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSPX.AS achieves a 11.94% return, which is significantly higher than SGOV's 4.21% return.
CSPX.AS
- 1D
- 0.26%
- 1M
- 1.26%
- YTD
- 11.94%
- 6M
- 12.66%
- 1Y
- 27.18%
- 3Y*
- 18.94%
- 5Y*
- 14.49%
- 10Y*
- 15.01%
SGOV
- 1D
- 0.39%
- 1M
- 1.47%
- YTD
- 4.21%
- 6M
- 3.97%
- 1Y
- 4.47%
- 3Y*
- 3.09%
- 5Y*
- 4.30%
- 10Y*
- —
CSPX.AS vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CSPX.AS iShares Core S&P 500 UCITS ETF | 11.94% | 4.00% | 33.87% | 22.28% | -14.24% | 40.26% | 12.52% |
SGOV iShares 0-3 Month Treasury Bond ETF | 4.21% | -8.13% | 12.22% | 1.97% | 7.88% | 7.52% | -9.26% |
Correlation
The correlation between CSPX.AS and SGOV is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.15 |
The correlation between CSPX.AS and SGOV shifts across timeframes, from 0.15 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CSPX.AS vs. SGOV — Risk / Return Rank
CSPX.AS
SGOV
CSPX.AS vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (CSPX.AS) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| CSPX.AS | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.12 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 1.08 | +2.77 |
| Martin ratioReturn relative to average drawdown | 13.62 | 2.63 | +10.99 |
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Drawdowns
CSPX.AS vs. SGOV - Drawdown Comparison
The maximum CSPX.AS drawdown since its inception was -33.65%, which is greater than SGOV's maximum drawdown of -11.59%. Use the drawdown chart below to compare losses from any high point for CSPX.AS and SGOV.
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Drawdown Indicators
| CSPX.AS | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.65% | -11.59% | -22.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -3.84% | -3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -23.37% | -11.53% | -11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -23.37% | -11.59% | -11.78% |
Max Drawdown (10Y)Largest decline over 10 years | -33.65% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -5.42% | +5.40% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -5.75% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.60% | +0.42% |
Volatility
CSPX.AS vs. SGOV - Volatility Comparison
iShares Core S&P 500 UCITS ETF (CSPX.AS) has a higher volatility of 3.25% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 1.48%. This indicates that CSPX.AS's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSPX.AS | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 1.48% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 7.80% | 4.45% | +3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.57% | 6.27% | +5.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 7.69% | +7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 7.47% | +8.60% |
CSPX.AS vs. SGOV - Expense Ratio Comparison
CSPX.AS has a 0.07% expense ratio, which is lower than SGOV's 0.09% 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
CSPX.AS vs. SGOV - Dividend Comparison
CSPX.AS has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CSPX.AS iShares Core S&P 500 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
CSPX.AS and SGOV have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.09% for SGOV.
CSPX.AS is categorized as S&P 500, while SGOV is Ultrashort Bond. CSPX.AS tracks S&P 500 Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.07% for CSPX.AS and 0.09% for SGOV.
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