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CU1.L vs. CSPX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CU1.L vs. CSPX.L

Last updated Jun 25, 2026

CU1.L (iShares MSCI USA UCITS ETF USD (Acc)) and CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) are both exchange-traded funds - CU1.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while CSPX.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CU1.L returned 15.47%/yr vs 15.70%/yr for CSPX.L. Their correlation of 0.87 suggests significant overlap in exposure. CU1.L charges 0.33%/yr vs 0.07%/yr for CSPX.L.

Performance

CU1.L vs. CSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CU1.L is traded in GBp, while CSPX.L is traded in USD. To make them comparable, the CSPX.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with CU1.L having a 10.42% return and CSPX.L slightly higher at 10.58%. Both investments have delivered pretty close results over the past 10 years, with CU1.L having a 15.47% annualized return and CSPX.L not far ahead at 15.70%.

CU1.L

1D
0.76%
1M
1.18%
YTD
10.42%
6M
10.53%
1Y
27.06%
3Y*
19.52%
5Y*
13.66%
10Y*
15.47%

CSPX.L

1D
0.77%
1M
1.00%
YTD
10.58%
6M
10.60%
1Y
27.18%
3Y*
19.40%
5Y*
14.13%
10Y*
15.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CU1.L vs. CSPX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CU1.L
iShares MSCI USA UCITS ETF USD (Acc)		10.42%9.22%27.38%20.66%-10.62%28.72%16.30%26.24%-0.58%10.75%
CSPX.L
iShares Core S&P 500 UCITS ETF USD (Acc)		10.58%9.09%27.44%20.40%-9.06%30.58%14.17%25.59%0.15%11.09%

Correlation

The correlation between CU1.L and CSPX.L is 0.90, 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

0.90

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

0.92

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

0.92

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

0.90

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

0.87

The correlation between CU1.L and CSPX.L has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

CU1.L vs. CSPX.L - Sectors Allocation Comparison

Sectors
CU1.L
CSPX.L

Technology

38.5%
39.1%

Financial Services

11.5%
11.5%

Communication Services

10.2%
10.2%

Consumer Cyclical

9.6%
9.5%

Industrials

8.6%
8.2%

Healthcare

8.5%
8.3%

Consumer Defensive

4.5%
4.6%

Energy

3.1%
3.0%

Utilities

2.1%
2.2%

Basic Materials

1.8%
1.7%

Real Estate

1.8%
1.8%

Technology

CU1.L
38.5%
CSPX.L
39.1%

Financial Services

CU1.L
11.5%
CSPX.L
11.5%

Communication Services

CU1.L
10.2%
CSPX.L
10.2%

Consumer Cyclical

CU1.L
9.6%
CSPX.L
9.5%

Industrials

CU1.L
8.6%
CSPX.L
8.2%

Healthcare

CU1.L
8.5%
CSPX.L
8.3%

Consumer Defensive

CU1.L
4.5%
CSPX.L
4.6%

Energy

CU1.L
3.1%
CSPX.L
3.0%

Utilities

CU1.L
2.1%
CSPX.L
2.2%

Basic Materials

CU1.L
1.8%
CSPX.L
1.7%

Real Estate

CU1.L
1.8%
CSPX.L
1.8%

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iShares MSCI USA UCITS ETF USD (Acc)

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

Often compared with CU1.L:
CU1.L vs. XDUS.LCU1.L vs. CSP1.LCU1.L vs. QQQCU1.L vs. VUGCU1.L vs. LGUG.LCU1.L vs. ISDU.LCU1.L vs. SPXL
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

Return for Risk

CU1.L vs. CSPX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CU1.L
CU1.L Risk / Return Rank: 8181
Overall Rank
CU1.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
CU1.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
CU1.L Omega Ratio Rank: 8686
Omega Ratio Rank
CU1.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
CU1.L Martin Ratio Rank: 7373
Martin Ratio Rank
CSPX.L
CSPX.L Risk / Return Rank: 6767
Overall Rank
CSPX.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
CSPX.L Sortino Ratio Rank: 7070
Sortino Ratio Rank
CSPX.L Omega Ratio Rank: 6464
Omega Ratio Rank
CSPX.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
CSPX.L Martin Ratio Rank: 7070
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.

CU1.L vs. CSPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.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.

CU1.LCSPX.LDifference
Sharpe ratioReturn per unit of total volatility
2.45
2.21

+0.24

Sortino ratioReturn per unit of downside risk
3.31
3.07

+0.23

Omega ratioGain probability vs. loss probability

1.46

1.41

+0.05

Calmar ratioReturn relative to maximum drawdown

3.51

3.75

-0.24

Martin ratioReturn relative to average drawdown

12.00

12.51

-0.50

CU1.L vs. CSPX.L - Sharpe Ratio Comparison

The current CU1.L Sharpe Ratio is 2.45, which is comparable to the CSPX.L Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of CU1.L and CSPX.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.

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Drawdowns

CU1.L vs. CSPX.L - Drawdown Comparison

The maximum CU1.L drawdown since its inception was -98.42%, which is greater than CSPX.L's maximum drawdown of -25.99%. Use the drawdown chart below to compare losses from any high point for CU1.L and CSPX.L.

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Drawdown Indicators

CU1.LCSPX.LDifference

Max Drawdown

Largest peak-to-trough decline

-98.42%

-25.99%

-72.43%

Max Drawdown (1Y)

Largest decline over 1 year

-7.68%

-7.22%

-0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-21.55%

-21.16%

-0.39%

Max Drawdown (5Y)

Largest decline over 5 years

-21.55%

-21.16%

-0.39%

Max Drawdown (10Y)

Largest decline over 10 years

-25.87%

-25.99%

+0.12%

Current Drawdown

Current decline from peak

-0.55%

-0.57%

+0.02%

Average Drawdown

Average peak-to-trough decline

-4.01%

-3.28%

-0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

2.17%

+0.08%

Volatility

CU1.L vs. CSPX.L - Volatility Comparison

The current volatility for iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) is 3.56%, while iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) has a volatility of 3.81%. This indicates that CU1.L experiences smaller price fluctuations and is considered to be less risky than CSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CU1.LCSPX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.56%

3.81%

-0.25%

Volatility (6M)

Calculated over the trailing 6-month period

7.72%

9.15%

-1.43%

Volatility (1Y)

Calculated over the trailing 1-year period

11.01%

12.25%

-1.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.18%

15.50%

+4.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.40%

16.26%

+2.14%

CU1.L vs. CSPX.L - Expense Ratio Comparison

CU1.L has a 0.33% expense ratio, which is higher than CSPX.L's 0.07% expense ratio.

Dividends

CU1.L vs. CSPX.L - Dividend Comparison

Neither CU1.L nor CSPX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.90, CU1.L and CSPX.L 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 0.33% for CU1.L.

CU1.L is categorized as Large Cap Blend Equities, while CSPX.L is S&P 500. CU1.L tracks Russell 1000 TR USD, while CSPX.L tracks S&P 500 Index. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.33% for CU1.L and 0.07% for CSPX.L.

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