CUSS.L vs. RTWO.L
CUSS.L (iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc)) and RTWO.L (L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc) are both Small Cap Blend Equities funds - CUSS.L tracks the MSCI USA Small Cap ESG Enhanced CTB Index while RTWO.L tracks the Russell 2000 0.4 Quality Target Exposure Factor Index. Both are passively managed. Over the past 10 years, CUSS.L returned 10.74%/yr vs 11.21%/yr for RTWO.L. Their correlation of 0.94 suggests significant overlap in exposure. CUSS.L charges 0.43%/yr vs 0.30%/yr for RTWO.L.
Performance
CUSS.L vs. RTWO.L - Performance Comparison
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Returns By Period
In the year-to-date period, CUSS.L achieves a 16.17% return, which is significantly lower than RTWO.L's 20.10% return. Both investments have delivered pretty close results over the past 10 years, with CUSS.L having a 10.74% annualized return and RTWO.L not far ahead at 11.21%.
CUSS.L
- 1D
- -0.63%
- 1M
- -1.86%
- 6M
- 11.10%
- YTD
- 16.17%
- 1Y
- 29.03%
- 3Y*
- 13.99%
- 5Y*
- 7.45%
- 10Y*
- 10.74%
RTWO.L
- 1D
- 0.57%
- 1M
- 1.17%
- 6M
- 14.38%
- YTD
- 20.10%
- 1Y
- 33.31%
- 3Y*
- 16.35%
- 5Y*
- 8.50%
- 10Y*
- 11.21%
CUSS.L vs. RTWO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CUSS.L iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc) | 16.17% | 10.15% | 9.80% | 17.73% | -17.15% | 18.55% | 18.55% | 26.39% | -10.90% | 16.10% |
RTWO.L L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc | 20.10% | 11.33% | 9.23% | 20.05% | -18.68% | 19.21% | 19.82% | 24.50% | -12.20% | 13.96% |
Correlation
The correlation between CUSS.L and RTWO.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2010 | 0.94 |
The correlation between CUSS.L and RTWO.L has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
CUSS.L vs. RTWO.L — Risk / Return Rank
CUSS.L
RTWO.L
CUSS.L vs. RTWO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc) (CUSS.L) and L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc (RTWO.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.
| CUSS.L | RTWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.33 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 3.65 | +0.08 |
| Martin ratioReturn relative to average drawdown | 12.44 | 12.05 | +0.38 |
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Drawdowns
CUSS.L vs. RTWO.L - Drawdown Comparison
The maximum CUSS.L drawdown since its inception was -42.70%, smaller than the maximum RTWO.L drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for CUSS.L and RTWO.L.
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Drawdown Indicators
| CUSS.L | RTWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.70% | -53.86% | +11.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -9.08% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -27.77% | -26.96% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -28.73% | -29.71% | +0.98% |
Max Drawdown (10Y)Largest decline over 10 years | -42.70% | -42.01% | -0.69% |
Current DrawdownCurrent decline from peak | -3.61% | -1.25% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -9.95% | +3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.76% | -0.24% |
Volatility
CUSS.L vs. RTWO.L - Volatility Comparison
iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF USD (Acc) (CUSS.L) has a higher volatility of 4.69% compared to L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc (RTWO.L) at 4.39%. This indicates that CUSS.L's price experiences larger fluctuations and is considered to be riskier than RTWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CUSS.L | RTWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 4.39% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.22% | 12.94% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.59% | 17.25% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.16% | 21.05% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.92% | 21.37% | -0.45% |
CUSS.L vs. RTWO.L - Expense Ratio Comparison
CUSS.L has a 0.43% expense ratio, which is higher than RTWO.L's 0.30% expense ratio.
Dividends
CUSS.L vs. RTWO.L - Dividend Comparison
Neither CUSS.L nor RTWO.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, CUSS.L and RTWO.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, RTWO.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RTWO.L is cheaper with a 0.30% expense ratio, compared with 0.43% for CUSS.L.
CUSS.L tracks MSCI USA Small Cap ESG Enhanced CTB Index, while RTWO.L tracks Russell 2000 0.4 Quality Target Exposure Factor Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.43% for CUSS.L and 0.30% for RTWO.L.
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