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CSPX.L vs. VWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CSPX.L vs. VWO

Last updated Jun 16, 2026

CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) and VWO (Vanguard FTSE Emerging Markets ETF) are both exchange-traded funds - CSPX.L is a S&P 500 fund tracking the S&P 500 Index, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Both are passively managed. Over the past 10 years, CSPX.L returned 15.44%/yr vs 9.11%/yr for VWO. At a 0.43 correlation, their price movements are largely independent. CSPX.L charges 0.07%/yr vs 0.08%/yr for VWO.

Performance

CSPX.L vs. VWO - 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 Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CSPX.L achieves a 10.20% return, which is significantly lower than VWO's 13.17% return. Over the past 10 years, CSPX.L has outperformed VWO with an annualized return of 15.44%, while VWO has yielded a comparatively lower 9.11% annualized return.

CSPX.L

1D
1.66%
1M
1.84%
YTD
10.20%
6M
11.35%
1Y
26.94%
3Y*
20.87%
5Y*
13.56%
10Y*
15.44%

VWO

1D
2.17%
1M
4.11%
YTD
13.17%
6M
15.35%
1Y
29.26%
3Y*
16.84%
5Y*
5.83%
10Y*
9.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CSPX.L vs. VWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CSPX.L
iShares Core S&P 500 UCITS ETF USD (Acc)		10.20%17.45%25.25%26.74%-18.72%29.35%17.62%30.55%-5.46%21.60%
VWO
Vanguard FTSE Emerging Markets ETF		13.17%25.60%10.59%9.25%-17.98%1.26%15.17%20.75%-14.76%31.49%

Correlation

The correlation between CSPX.L and VWO is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Sep 15, 2010

0.43

The correlation between CSPX.L and VWO shifts across timeframes, from 0.43 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

CSPX.L vs. VWO - Sectors Allocation Comparison

Sectors
CSPX.L
VWO

Technology

37.5%
29.6%

Financial Services

11.7%
19.5%

Communication Services

10.4%
7.1%

Consumer Cyclical

9.5%
10.7%

Healthcare

8.9%
3.9%

Industrials

8.0%
8.0%

Consumer Defensive

4.8%
3.7%

Energy

3.4%
4.6%

Utilities

2.2%
2.9%

Real Estate

1.9%
2.2%

Basic Materials

1.7%
8.0%

Technology

CSPX.L
37.5%
VWO
29.6%

Financial Services

CSPX.L
11.7%
VWO
19.5%

Communication Services

CSPX.L
10.4%
VWO
7.1%

Consumer Cyclical

CSPX.L
9.5%
VWO
10.7%

Healthcare

CSPX.L
8.9%
VWO
3.9%

Industrials

CSPX.L
8.0%
VWO
8.0%

Consumer Defensive

CSPX.L
4.8%
VWO
3.7%

Energy

CSPX.L
3.4%
VWO
4.6%

Utilities

CSPX.L
2.2%
VWO
2.9%

Real Estate

CSPX.L
1.9%
VWO
2.2%

Basic Materials

CSPX.L
1.7%
VWO
8.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core S&P 500 UCITS ETF USD (Acc)

Vanguard FTSE Emerging Markets ETF

Often compared with CSPX.L:
CSPX.L vs. VOOCSPX.L vs. VUAA.LCSPX.L vs. SPYCSPX.L vs. CSPX.ASCSPX.L vs. CSP1.LCSPX.L vs. VWRL.ASCSPX.L vs. IVV
Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX

Return for Risk

CSPX.L vs. VWO — 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: 7777
Overall Rank
CSPX.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
CSPX.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
CSPX.L Omega Ratio Rank: 7676
Omega Ratio Rank
CSPX.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
CSPX.L Martin Ratio Rank: 7979
Martin Ratio Rank
VWO
VWO Risk / Return Rank: 5858
Overall Rank
VWO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 5757
Sortino Ratio Rank
VWO Omega Ratio Rank: 6060
Omega Ratio Rank
VWO Calmar Ratio Rank: 5959
Calmar Ratio Rank
VWO Martin Ratio Rank: 5858
Martin Ratio Rank
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. VWO - 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 Vanguard FTSE Emerging Markets ETF (VWO). 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.LVWODifference
Sharpe ratioReturn per unit of total volatility
2.21
1.77

+0.44

Sortino ratioReturn per unit of downside risk
3.26
2.45

+0.81

Omega ratioGain probability vs. loss probability

1.40

1.33

+0.07

Calmar ratioReturn relative to maximum drawdown

3.28

2.63

+0.65

Martin ratioReturn relative to average drawdown

13.68

9.28

+4.41

CSPX.L vs. VWO - Sharpe Ratio Comparison

The current CSPX.L Sharpe Ratio is 2.21, which is comparable to the VWO Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of CSPX.L and VWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CSPX.L vs. VWO - Drawdown Comparison

The maximum CSPX.L drawdown since its inception was -33.90%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for CSPX.L and VWO.

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Drawdown Indicators

CSPX.LVWODifference

Max Drawdown

Largest peak-to-trough decline

-33.90%

-67.68%

+33.78%

Max Drawdown (1Y)

Largest decline over 1 year

-8.17%

-11.17%

+3.00%

Max Drawdown (3Y)

Largest decline over 3 years

-18.50%

-17.37%

-1.13%

Max Drawdown (5Y)

Largest decline over 5 years

-24.39%

-32.60%

+8.21%

Max Drawdown (10Y)

Largest decline over 10 years

-33.90%

-36.39%

+2.49%

Current Drawdown

Current decline from peak

-0.64%

-0.57%

-0.07%

Average Drawdown

Average peak-to-trough decline

-3.72%

-15.80%

+12.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.96%

3.16%

-1.20%

Volatility

CSPX.L vs. VWO - Volatility Comparison

The current volatility for iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) is 4.15%, while Vanguard FTSE Emerging Markets ETF (VWO) has a volatility of 6.98%. This indicates that CSPX.L experiences smaller price fluctuations and is considered to be less risky than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CSPX.LVWODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.15%

6.98%

-2.83%

Volatility (6M)

Calculated over the trailing 6-month period

9.16%

14.18%

-5.02%

Volatility (1Y)

Calculated over the trailing 1-year period

12.15%

16.62%

-4.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.05%

17.51%

-1.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.23%

19.24%

-3.01%

CSPX.L vs. VWO - Expense Ratio Comparison

CSPX.L has a 0.07% expense ratio, which is lower than VWO's 0.08% 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. VWO - Dividend Comparison

CSPX.L has not paid dividends to shareholders, while VWO's dividend yield for the trailing twelve months is around 2.38%.

PositionTTM20252024202320222021202020192018201720162015
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%
VWO
Vanguard FTSE Emerging Markets ETF		2.38%2.79%3.20%3.52%4.11%2.63%1.91%3.23%2.88%2.30%2.52%3.26%

Frequently Asked Questions

CSPX.L and VWO have a correlation of 0.55, 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 0.08% for VWO.

CSPX.L is categorized as S&P 500, while VWO is Emerging Markets Equities. CSPX.L tracks S&P 500 Index, while VWO tracks FTSE Emerging Index. They also come from different issuers: BlackRock and Vanguard. Their fees differ too: 0.07% for CSPX.L and 0.08% for VWO.

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