CSPX.L vs. SPY5.DE
CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) and SPY5.DE (SPDR S&P 500 UCITS ETF) are both S&P 500 funds tracking the S&P 500 Index, from BlackRock and State Street respectively. Both are passively managed. Over the past 10 years, CSPX.L returned 15.24%/yr vs 15.14%/yr for SPY5.DE. Their correlation of 0.90 suggests significant overlap in exposure. CSPX.L charges 0.07%/yr vs 0.03%/yr for SPY5.DE.
Performance
CSPX.L vs. SPY5.DE - Performance Comparison
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Different Trading Currencies
CSPX.L is traded in USD, while SPY5.DE is traded in EUR. To make them comparable, the SPY5.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with CSPX.L having a 8.40% return and SPY5.DE slightly lower at 8.25%. Both investments have delivered pretty close results over the past 10 years, with CSPX.L having a 15.24% annualized return and SPY5.DE not far behind at 15.14%.
CSPX.L
- 1D
- 2.02%
- 1M
- -0.83%
- YTD
- 8.40%
- 6M
- 9.68%
- 1Y
- 24.86%
- 3Y*
- 20.75%
- 5Y*
- 13.23%
- 10Y*
- 15.24%
SPY5.DE
- 1D
- 1.45%
- 1M
- -0.80%
- YTD
- 8.25%
- 6M
- 9.14%
- 1Y
- 25.05%
- 3Y*
- 20.72%
- 5Y*
- 13.19%
- 10Y*
- 15.14%
CSPX.L vs. SPY5.DE - 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) | 8.40% | 17.45% | 25.25% | 26.74% | -18.72% | 29.35% | 17.62% | 30.55% | -5.46% | 21.60% |
SPY5.DE SPDR S&P 500 UCITS ETF | 8.25% | 18.26% | 24.79% | 26.29% | -18.97% | 29.51% | 17.16% | 31.60% | -6.25% | 21.77% |
Correlation
The correlation between CSPX.L and SPY5.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2012 | 0.90 |
The correlation between CSPX.L and SPY5.DE has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
CSPX.L vs. SPY5.DE — Risk / Return Rank
CSPX.L
SPY5.DE
CSPX.L vs. SPY5.DE - 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 SPDR S&P 500 UCITS ETF (SPY5.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.
| CSPX.L | SPY5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.82 | +0.16 |
| Martin ratioReturn relative to average drawdown | 12.45 | 11.73 | +0.72 |
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Drawdowns
CSPX.L vs. SPY5.DE - Drawdown Comparison
The maximum CSPX.L drawdown since its inception was -33.90%, roughly equal to the maximum SPY5.DE drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for CSPX.L and SPY5.DE.
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Drawdown Indicators
| CSPX.L | SPY5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.90% | -34.33% | +0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -8.59% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -19.50% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -24.39% | -24.33% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | -34.33% | +0.43% |
Current DrawdownCurrent decline from peak | -2.27% | -2.28% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -3.73% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 2.07% | -0.11% |
Volatility
CSPX.L vs. SPY5.DE - Volatility Comparison
iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a higher volatility of 4.01% compared to SPDR S&P 500 UCITS ETF (SPY5.DE) at 3.33%. This indicates that CSPX.L's price experiences larger fluctuations and is considered to be riskier than SPY5.DE 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 | SPY5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 3.33% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 9.03% | 8.44% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.04% | 11.76% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.03% | 15.93% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.22% | 16.33% | -0.11% |
CSPX.L vs. SPY5.DE - Expense Ratio Comparison
CSPX.L has a 0.07% expense ratio, which is higher than SPY5.DE's 0.03% 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
CSPX.L vs. SPY5.DE - Dividend Comparison
CSPX.L has not paid dividends to shareholders, while SPY5.DE's dividend yield for the trailing twelve months is around 0.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY5.DE SPDR S&P 500 UCITS ETF | 0.90% | 0.99% | 1.03% | 1.22% | 1.42% | 0.95% | 1.37% | 1.43% | 1.28% | 1.59% | 1.57% | 1.69% |
Frequently Asked Questions
With a correlation of 0.91, CSPX.L and SPY5.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, SPY5.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.DE is cheaper with a 0.03% expense ratio, compared with 0.07% for CSPX.L.
Both ETFs track S&P 500 Index. They also come from different issuers: BlackRock and State Street. Their fees differ too: 0.07% for CSPX.L and 0.03% for SPY5.DE.
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