CSPX.L vs. SPMV.L
CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) and SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds - CSPX.L tracks the S&P 500 Index while SPMV.L tracks the S&P 500 Minimum Volatility Net in USD. Both are passively managed. Over the past 10 years, CSPX.L returned 14.76%/yr vs 9.98%/yr for SPMV.L. Their correlation of 0.88 suggests significant overlap in exposure. CSPX.L charges 0.07%/yr vs 0.20%/yr for SPMV.L.
Performance
CSPX.L vs. SPMV.L - Performance Comparison
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Returns By Period
In the year-to-date period, CSPX.L achieves a 8.95% return, which is significantly higher than SPMV.L's 4.24% return. Over the past 10 years, CSPX.L has outperformed SPMV.L with an annualized return of 14.76%, while SPMV.L has yielded a comparatively lower 9.98% annualized return.
CSPX.L
- 1D
- -1.28%
- 1M
- -0.57%
- 6M
- 7.97%
- YTD
- 8.95%
- 1Y
- 19.93%
- 3Y*
- 19.39%
- 5Y*
- 12.74%
- 10Y*
- 14.76%
SPMV.L
- 1D
- -0.19%
- 1M
- 0.14%
- 6M
- 4.46%
- YTD
- 4.24%
- 1Y
- 10.52%
- 3Y*
- 12.84%
- 5Y*
- 8.28%
- 10Y*
- 9.98%
CSPX.L vs. SPMV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc) | 8.95% | 17.45% | 25.25% | 26.74% | -18.72% | 29.35% | 17.62% | 30.55% | -5.46% | 21.60% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.24% | 11.55% | 18.68% | 9.94% | -11.05% | 24.98% | 7.41% | 31.25% | -5.35% | 16.05% |
Correlation
The correlation between CSPX.L and SPMV.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.88 |
The correlation between CSPX.L and SPMV.L has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
CSPX.L vs. SPMV.L — Risk / Return Rank
CSPX.L
SPMV.L
CSPX.L vs. SPMV.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 Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.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.
| CSPX.L | SPMV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.22 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.68 | +0.75 |
| Martin ratioReturn relative to average drawdown | 9.79 | 6.62 | +3.18 |
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Drawdowns
CSPX.L vs. SPMV.L - Drawdown Comparison
The maximum CSPX.L drawdown since its inception was -33.90%, roughly equal to the maximum SPMV.L drawdown of -33.34%. Use the drawdown chart below to compare losses from any high point for CSPX.L and SPMV.L.
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Drawdown Indicators
| CSPX.L | SPMV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.90% | -33.34% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -6.23% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -12.31% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -24.39% | -18.58% | -5.81% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | -33.34% | -0.56% |
Current DrawdownCurrent decline from peak | -1.77% | -0.75% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -3.13% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 1.59% | +0.44% |
Volatility
CSPX.L vs. SPMV.L - Volatility Comparison
iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a higher volatility of 3.05% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) at 1.82%. This indicates that CSPX.L's price experiences larger fluctuations and is considered to be riskier than SPMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSPX.L | SPMV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 1.82% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 6.37% | +2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.13% | 8.50% | +3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 12.67% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 13.77% | +2.39% |
CSPX.L vs. SPMV.L - Expense Ratio Comparison
CSPX.L has a 0.07% expense ratio, which is lower than SPMV.L's 0.20% 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.L vs. SPMV.L - Dividend Comparison
Neither CSPX.L nor SPMV.L has paid dividends to shareholders.
Frequently Asked Questions
CSPX.L and SPMV.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.L is cheaper with a 0.07% expense ratio, compared with 0.20% for SPMV.L.
CSPX.L tracks S&P 500 Index, while SPMV.L tracks S&P 500 Minimum Volatility Net in USD. They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.07% for CSPX.L and 0.20% for SPMV.L.
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