CYSE.L vs. ISPY.L

Last updated Jul 18, 2026

CYSE.L (WisdomTree Cybersecurity UCITS ETF USD Acc) and ISPY.L (L&G Cyber Security UCITS ETF) are both exchange-traded funds - CYSE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while ISPY.L is a Cybersecurity fund tracking the ISE Cyber Security UCITS Index. Both are passively managed. Over the past 5 years, CYSE.L returned 10.16%/yr vs 12.62%/yr for ISPY.L. Their correlation of 0.90 suggests significant overlap in exposure. CYSE.L charges 0.45%/yr vs 0.69%/yr for ISPY.L.

Performance

CYSE.L vs. ISPY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) and L&G Cyber Security UCITS ETF (ISPY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CYSE.L achieves a 39.03% return, which is significantly lower than ISPY.L's 43.67% return.

CYSE.L

• 1D: -0.32%
• 1M: 20.43%
• 6M: 40.95%
• YTD: 39.03%
• 1Y: 25.22%
• 3Y*: 23.46%
• 5Y*: 10.16%
• 10Y*: —

ISPY.L

• 1D: -1.05%
• 1M: 9.88%
• 6M: 45.94%
• YTD: 43.67%
• 1Y: 40.14%
• 3Y*: 26.90%
• 5Y*: 12.62%
• 10Y*: 16.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CYSE.L vs. ISPY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CYSE.L WisdomTree Cybersecurity UCITS ETF USD Acc	39.03%	-8.72%	13.36%	60.49%	-36.39%	11.39%
ISPY.L L&G Cyber Security UCITS ETF	43.67%	0.28%	19.68%	34.35%	-24.57%	0.75%

Correlation

The correlation between CYSE.L and ISPY.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	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 28, 2021	0.90

The correlation between CYSE.L and ISPY.L has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

CYSE.L vs. ISPY.L - Sectors Allocation Comparison

Sectors	CYSE.L	ISPY.L
Technology	100.0%	97.3%
Basic Materials	-	-
Communication Services	-	2.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.3%
Real Estate	-	-
Utilities	-	-

Return for Risk

CYSE.L vs. ISPY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CYSE.L

CYSE.L Risk / Return Rank: 25
CYSE.L Sharpe Ratio Rank: 26
CYSE.L Sortino Ratio Rank: 26
CYSE.L Omega Ratio Rank: 28
CYSE.L Calmar Ratio Rank: 22
CYSE.L Martin Ratio Rank: 20

ISPY.L

ISPY.L Risk / Return Rank: 51
ISPY.L Sharpe Ratio Rank: 55
ISPY.L Sortino Ratio Rank: 53
ISPY.L Omega Ratio Rank: 58
ISPY.L Calmar Ratio Rank: 50
ISPY.L Martin Ratio Rank: 40

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.

CYSE.L vs. ISPY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) and L&G Cyber Security UCITS ETF (ISPY.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.

	CYSE.L	ISPY.L	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.44	-0.70
Sortino ratio: Return per unit of downside risk	1.20	2.00	-0.80
Omega ratio: Gain probability vs. loss probability	1.16	1.27	-0.11
Calmar ratio: Return relative to maximum drawdown	0.80	1.97	-1.16
Martin ratio: Return relative to average drawdown	1.80	4.88	-3.08

CYSE.L vs. ISPY.L - Sharpe Ratio Comparison

The current CYSE.L Sharpe Ratio is 0.74, which is lower than the ISPY.L Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of CYSE.L and ISPY.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.

Drawdowns

CYSE.L vs. ISPY.L - Drawdown Comparison

The maximum CYSE.L drawdown since its inception was -46.68%, smaller than the maximum ISPY.L drawdown of -50.17%. Use the drawdown chart below to compare losses from any high point for CYSE.L and ISPY.L.

Drawdown Indicators

	CYSE.L	ISPY.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.68%	-50.17%	+3.49%
Max Drawdown (1Y) Largest decline over 1 year	-31.22%	-20.33%	-10.89%
Max Drawdown (3Y) Largest decline over 3 years	-35.88%	-28.19%	-7.69%
Max Drawdown (5Y) Largest decline over 5 years	-46.68%	-31.77%	-14.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.77%	—
Current Drawdown Current decline from peak	-2.76%	-5.22%	+2.46%
Average Drawdown Average peak-to-trough decline	-18.91%	-12.85%	-6.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.97%	8.20%	+5.77%

Volatility

CYSE.L vs. ISPY.L - Volatility Comparison

WisdomTree Cybersecurity UCITS ETF USD Acc (CYSE.L) and L&G Cyber Security UCITS ETF (ISPY.L) have volatilities of 11.00% and 10.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CYSE.L	ISPY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.00%	10.69%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	30.35%	24.97%	+5.38%
Volatility (1Y) Calculated over the trailing 1-year period	34.09%	27.87%	+6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.72%	27.58%	+4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.50%	24.47%	+7.03%

CYSE.L vs. ISPY.L - Expense Ratio Comparison

CYSE.L has a 0.45% expense ratio, which is lower than ISPY.L's 0.69% expense ratio.

Dividends

CYSE.L vs. ISPY.L - Dividend Comparison

Neither CYSE.L nor ISPY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CYSE.L and ISPY.L in my portfolio?

CYSE.L and ISPY.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CYSE.L or ISPY.L?

On fees, CYSE.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CYSE.L or ISPY.L?

CYSE.L is cheaper with a 0.45% expense ratio, compared with 0.69% for ISPY.L.

What is the main difference between CYSE.L and ISPY.L?

CYSE.L is categorized as Technology Equities, while ISPY.L is Cybersecurity. CYSE.L tracks MSCI World/Information Tech NR USD, while ISPY.L tracks ISE Cyber Security UCITS Index. They also come from different issuers: WisdomTree and L&G. Their fees differ too: 0.45% for CYSE.L and 0.69% for ISPY.L.