CSPX.L vs. SWRD.AS
CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) and SWRD.AS (SPDR MSCI World UCITS ETF) are both exchange-traded funds - CSPX.L is a S&P 500 fund tracking the S&P 500 Index, while SWRD.AS is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, CSPX.L returned 13.72%/yr vs 11.92%/yr for SWRD.AS. Their correlation of 0.91 suggests significant overlap in exposure. CSPX.L charges 0.07%/yr vs 0.12%/yr for SWRD.AS.
Performance
CSPX.L vs. SWRD.AS - Performance Comparison
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Different Trading Currencies
CSPX.L is traded in USD, while SWRD.AS is traded in EUR. To make them comparable, the SWRD.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSPX.L achieves a 10.32% return, which is significantly higher than SWRD.AS's 9.79% return.
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%
SWRD.AS
- 1D
- 0.08%
- 1M
- 4.08%
- YTD
- 9.79%
- 6M
- 11.08%
- 1Y
- 26.03%
- 3Y*
- 20.89%
- 5Y*
- 11.92%
- 10Y*
- —
CSPX.L vs. SWRD.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc) | 10.32% | 17.45% | 25.25% | 26.74% | -18.72% | 29.35% | 17.62% | 17.01% |
SWRD.AS SPDR MSCI World UCITS ETF | 9.79% | 21.71% | 19.46% | 23.93% | -18.56% | 23.56% | 15.43% | 14.37% |
Correlation
The correlation between CSPX.L and SWRD.AS 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 | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019 | 0.91 |
The correlation between CSPX.L and SWRD.AS has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
CSPX.L vs. SWRD.AS — Risk / Return Rank
CSPX.L
SWRD.AS
CSPX.L vs. SWRD.AS - 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 MSCI World UCITS ETF (SWRD.AS). 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 | SWRD.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.40 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.03 | +0.32 |
| Martin ratioReturn relative to average drawdown | 14.51 | 13.22 | +1.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSPX.L | SWRD.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.21 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.76 | +0.10 |
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 | 0.82 | +0.12 |
Drawdowns
CSPX.L vs. SWRD.AS - Drawdown Comparison
The maximum CSPX.L drawdown since its inception was -33.90%, roughly equal to the maximum SWRD.AS drawdown of -34.09%. Use the drawdown chart below to compare losses from any high point for CSPX.L and SWRD.AS.
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Drawdown Indicators
| CSPX.L | SWRD.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.90% | -34.09% | +0.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -8.48% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -17.76% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -24.39% | -25.68% | +1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | — | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.50% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -5.04% | +1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 1.96% | -0.06% |
Volatility
CSPX.L vs. SWRD.AS - Volatility Comparison
iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a higher volatility of 3.13% compared to SPDR MSCI World UCITS ETF (SWRD.AS) at 2.96%. This indicates that CSPX.L's price experiences larger fluctuations and is considered to be riskier than SWRD.AS 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 | SWRD.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 2.96% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 8.70% | 8.62% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.80% | 11.62% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 15.44% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 17.05% | -0.86% |
CSPX.L vs. SWRD.AS - Expense Ratio Comparison
CSPX.L has a 0.07% expense ratio, which is lower than SWRD.AS's 0.12% 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. SWRD.AS - Dividend Comparison
Neither CSPX.L nor SWRD.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, CSPX.L and SWRD.AS 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, 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 0.12% for SWRD.AS.
CSPX.L is categorized as S&P 500, while SWRD.AS is Global Equities. CSPX.L tracks S&P 500 Index, while SWRD.AS tracks MSCI ACWI NR USD. They also come from different issuers: BlackRock and State Street. Their fees differ too: 0.07% for CSPX.L and 0.12% for SWRD.AS.
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