CSPX.L vs. I500.L

Last updated Jun 5, 2026

CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) and I500.L (iShares S&P 500 Swap UCITS ETF) are both S&P 500 funds - CSPX.L tracks the S&P 500 Index while I500.L tracks the S&P 500 Net Dividends Reinvested Index (Net USD). Both are passively managed. Over the past 5 years, CSPX.L returned 13.72%/yr vs 13.94%/yr for I500.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.

Performance

CSPX.L vs. I500.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) and iShares S&P 500 Swap UCITS ETF (I500.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CSPX.L is traded in USD, while I500.L is traded in GBP. To make them comparable, the I500.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with CSPX.L having a 10.32% return and I500.L slightly higher at 10.34%.

CSPX.L

• 1D: 0.01%
• 1M: 4.51%
• YTD: 10.32%
• 6M: 11.15%
• 1Y: 27.85%
• 3Y*: 22.17%
• 5Y*: 13.72%
• 10Y*: 15.22%

I500.L

• 1D: 0.10%
• 1M: 4.62%
• YTD: 10.34%
• 6M: 11.34%
• 1Y: 28.10%
• 3Y*: 22.29%
• 5Y*: 13.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CSPX.L vs. I500.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc)	10.32%	17.45%	25.25%	26.74%	-18.72%	29.35%	12.11%
I500.L iShares S&P 500 Swap UCITS ETF	10.34%	17.82%	25.44%	26.37%	-18.49%	30.04%	12.31%

Correlation

The correlation between CSPX.L and I500.L is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 30, 2020	0.92

The correlation between CSPX.L and I500.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

CSPX.L vs. I500.L - Sectors Allocation Comparison

Sectors	CSPX.L	I500.L
Technology	38.2%	35.6%
Financial Services	11.1%	11.8%
Communication Services	10.9%	11.2%
Consumer Cyclical	10.0%	10.1%
Healthcare	8.3%	8.5%
Industrials	7.9%	8.3%
Consumer Defensive	4.7%	4.9%
Energy	3.2%	3.5%
Utilities	2.2%	2.4%
Real Estate	1.9%	1.9%
Basic Materials	1.7%	1.8%

Return for Risk

CSPX.L vs. I500.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CSPX.L

CSPX.L Risk / Return Rank: 73
CSPX.L Sharpe Ratio Rank: 72
CSPX.L Sortino Ratio Rank: 77
CSPX.L Omega Ratio Rank: 72
CSPX.L Calmar Ratio Rank: 68
CSPX.L Martin Ratio Rank: 77

I500.L

I500.L Risk / Return Rank: 83
I500.L Sharpe Ratio Rank: 86
I500.L Sortino Ratio Rank: 85
I500.L Omega Ratio Rank: 86
I500.L Calmar Ratio Rank: 80
I500.L Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CSPX.L vs. I500.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) and iShares S&P 500 Swap UCITS ETF (I500.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.

	CSPX.L	I500.L	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.55	-0.23
Sortino ratio: Return per unit of downside risk	3.41	3.68	-0.28
Omega ratio: Gain probability vs. loss probability	1.42	1.46	-0.03
Calmar ratio: Return relative to maximum drawdown	3.35	3.23	+0.12
Martin ratio: Return relative to average drawdown	14.51	13.99	+0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSPX.L vs. I500.L - Sharpe Ratio Comparison

The current CSPX.L Sharpe Ratio is 2.32, which is comparable to the I500.L Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of CSPX.L and I500.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CSPX.L	I500.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	2.55	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.90	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	1.10	-0.16

Drawdowns

CSPX.L vs. I500.L - Drawdown Comparison

The maximum CSPX.L drawdown since its inception was -33.90%, which is greater than I500.L's maximum drawdown of -25.00%. Use the drawdown chart below to compare losses from any high point for CSPX.L and I500.L.

Drawdown Indicators

	CSPX.L	I500.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.90%	-25.00%	-8.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-8.66%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-18.47%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-24.39%	-25.00%	+0.61%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	—	—
Current Drawdown Current decline from peak	-0.53%	-0.55%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.72%	-5.01%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.00%	-0.10%

Volatility

CSPX.L vs. I500.L - Volatility Comparison

iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a higher volatility of 3.13% compared to iShares S&P 500 Swap UCITS ETF (I500.L) at 2.57%. This indicates that CSPX.L's price experiences larger fluctuations and is considered to be riskier than I500.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSPX.L	I500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	2.57%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	7.89%	+0.81%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	10.98%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	15.51%	+0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	15.51%	+0.68%

CSPX.L vs. I500.L - Expense Ratio Comparison

Both CSPX.L and I500.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CSPX.L vs. I500.L - Dividend Comparison

Neither CSPX.L nor I500.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CSPX.L and I500.L in my portfolio?

CSPX.L and I500.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSPX.L or I500.L?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSPX.L or I500.L?

CSPX.L and I500.L have the same expense ratio: 0.07% per year.

What is the main difference between CSPX.L and I500.L?

CSPX.L tracks S&P 500 Index, while I500.L tracks S&P 500 Net Dividends Reinvested Index (Net USD). They also come from different issuers: BlackRock and iShares.