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CUKS.L vs. ISF.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CUKS.L vs. ISF.L

Last updated Jun 5, 2026

CUKS.L (iShares MSCI UK Small Cap UCITS ETF (Acc)) and ISF.L (iShares Core FTSE 100 UCITS ETF (Dist)) are both Europe Equities funds from iShares - CUKS.L tracks the FTSE Small Cap Ex Invest Trust TR GBP while ISF.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, CUKS.L returned 4.74%/yr vs 9.12%/yr for ISF.L. A 0.64 correlation means they provide meaningful diversification when combined. CUKS.L charges 0.58%/yr vs 0.07%/yr for ISF.L.

Performance

CUKS.L vs. ISF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CUKS.L achieves a 3.10% return, which is significantly lower than ISF.L's 6.13% return. Over the past 10 years, CUKS.L has underperformed ISF.L with an annualized return of 4.74%, while ISF.L has yielded a comparatively higher 9.12% annualized return.

CUKS.L

1D
0.83%
1M
3.18%
YTD
3.10%
6M
5.37%
1Y
10.62%
3Y*
9.93%
5Y*
1.23%
10Y*
4.74%

ISF.L

1D
0.26%
1M
1.75%
YTD
6.13%
6M
8.49%
1Y
21.32%
3Y*
14.88%
5Y*
11.88%
10Y*
9.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CUKS.L vs. ISF.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CUKS.L
iShares MSCI UK Small Cap UCITS ETF (Acc)		3.10%14.90%5.74%9.76%-22.81%14.33%-6.24%29.73%-15.36%20.13%
ISF.L
iShares Core FTSE 100 UCITS ETF (Dist)		6.13%25.97%9.28%7.81%4.83%17.68%-11.67%17.11%-8.96%13.10%

Correlation

The correlation between CUKS.L and ISF.L is 0.69, 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

0.69

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

0.69

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

0.70

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

0.71

Correlation (All Time)
Calculated using the full available price history since Sep 23, 2010

0.64

The correlation between CUKS.L and ISF.L has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

CUKS.L vs. ISF.L - Sectors Allocation Comparison

Sectors
CUKS.L
ISF.L

Financial Services

24.0%
24.8%

Industrials

21.1%
13.8%

Consumer Cyclical

15.3%
4.7%

Real Estate

9.0%
0.9%

Basic Materials

6.6%
8.6%

Communication Services

6.2%
2.6%

Technology

4.2%
0.8%

Consumer Defensive

4.1%
12.8%

Energy

3.3%
11.9%

Healthcare

3.3%
13.8%

Utilities

3.0%
5.3%

Financial Services

CUKS.L
24.0%
ISF.L
24.8%

Industrials

CUKS.L
21.1%
ISF.L
13.8%

Consumer Cyclical

CUKS.L
15.3%
ISF.L
4.7%

Real Estate

CUKS.L
9.0%
ISF.L
0.9%

Basic Materials

CUKS.L
6.6%
ISF.L
8.6%

Communication Services

CUKS.L
6.2%
ISF.L
2.6%

Technology

CUKS.L
4.2%
ISF.L
0.8%

Consumer Defensive

CUKS.L
4.1%
ISF.L
12.8%

Energy

CUKS.L
3.3%
ISF.L
11.9%

Healthcare

CUKS.L
3.3%
ISF.L
13.8%

Utilities

CUKS.L
3.0%
ISF.L
5.3%

Compare stocks, funds, or ETFs

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iShares MSCI UK Small Cap UCITS ETF (Acc)

iShares Core FTSE 100 UCITS ETF (Dist)

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CUKS.L vs. VMIG.LCUKS.L vs. MIDD.LCUKS.L vs. IITU.LCUKS.L vs. AEICUKS.L vs. CUKX.LCUKS.L vs. VUKG.LCUKS.L vs. AVUV
Often compared with ISF.L:
ISF.L vs. VUKE.LISF.L vs. HUKX.LISF.L vs. UKDV.LISF.L vs. XDAX.LISF.L vs. VUSA.ASISF.L vs. VOOISF.L vs. FEUI.L

Return for Risk

CUKS.L vs. ISF.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CUKS.L
CUKS.L Risk / Return Rank: 2222
Overall Rank
CUKS.L Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
CUKS.L Sortino Ratio Rank: 2323
Sortino Ratio Rank
CUKS.L Omega Ratio Rank: 2323
Omega Ratio Rank
CUKS.L Calmar Ratio Rank: 2020
Calmar Ratio Rank
CUKS.L Martin Ratio Rank: 2323
Martin Ratio Rank
ISF.L
ISF.L Risk / Return Rank: 5656
Overall Rank
ISF.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
ISF.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
ISF.L Omega Ratio Rank: 6262
Omega Ratio Rank
ISF.L Calmar Ratio Rank: 5050
Calmar Ratio Rank
ISF.L Martin Ratio Rank: 4949
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.

CUKS.L vs. ISF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and iShares Core FTSE 100 UCITS ETF (Dist) (ISF.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.

CUKS.LISF.LDifference
Sharpe ratioReturn per unit of total volatility
0.79
1.98

-1.19

Sortino ratioReturn per unit of downside risk
1.21
2.78

-1.57

Omega ratioGain probability vs. loss probability

1.15

1.37

-0.22

Calmar ratioReturn relative to maximum drawdown

0.86

2.41

-1.55

Martin ratioReturn relative to average drawdown

2.79

8.18

-5.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUKS.L vs. ISF.L - Sharpe Ratio Comparison

The current CUKS.L Sharpe Ratio is 0.79, which is lower than the ISF.L Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of CUKS.L and ISF.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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Sharpe Ratios by Period

CUKS.LISF.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.79

1.98

-1.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.08

0.95

-0.87

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.61

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.16

+0.31

Drawdowns

CUKS.L vs. ISF.L - Drawdown Comparison

The maximum CUKS.L drawdown since its inception was -42.42%, smaller than the maximum ISF.L drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for CUKS.L and ISF.L.

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Drawdown Indicators

CUKS.LISF.LDifference

Max Drawdown

Largest peak-to-trough decline

-42.42%

-68.24%

+25.82%

Max Drawdown (1Y)

Largest decline over 1 year

-12.28%

-8.82%

-3.46%

Max Drawdown (3Y)

Largest decline over 3 years

-16.88%

-12.69%

-4.19%

Max Drawdown (5Y)

Largest decline over 5 years

-35.35%

-12.69%

-22.66%

Max Drawdown (10Y)

Largest decline over 10 years

-42.42%

-34.13%

-8.29%

Current Drawdown

Current decline from peak

-3.63%

-3.90%

+0.27%

Average Drawdown

Average peak-to-trough decline

-9.28%

-21.87%

+12.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.80%

2.60%

+1.20%

Volatility

CUKS.L vs. ISF.L - Volatility Comparison

iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) has a higher volatility of 4.14% compared to iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) at 3.85%. This indicates that CUKS.L's price experiences larger fluctuations and is considered to be riskier than ISF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CUKS.LISF.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.14%

3.85%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

11.09%

9.31%

+1.78%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

10.73%

+2.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.99%

12.56%

+3.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.02%

14.84%

+2.18%

CUKS.L vs. ISF.L - Expense Ratio Comparison

CUKS.L has a 0.58% expense ratio, which is higher than ISF.L's 0.07% expense ratio.

Dividends

CUKS.L vs. ISF.L - Dividend Comparison

CUKS.L has not paid dividends to shareholders, while ISF.L's dividend yield for the trailing twelve months is around 2.86%.

PositionTTM20252024202320222021202020192018201720162015
CUKS.L
iShares MSCI UK Small Cap UCITS ETF (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%
ISF.L
iShares Core FTSE 100 UCITS ETF (Dist)		2.86%3.01%3.71%3.86%3.75%3.76%3.11%4.47%4.44%3.96%3.79%4.12%

Frequently Asked Questions

CUKS.L and ISF.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ISF.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ISF.L is cheaper with a 0.07% expense ratio, compared with 0.58% for CUKS.L.

CUKS.L tracks FTSE Small Cap Ex Invest Trust TR GBP, while ISF.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.58% for CUKS.L and 0.07% for ISF.L.

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