GCP.L vs. R2SC.L

Last updated Jul 21, 2026

GCP.L (GCP Infrastructure Investments Limited) is a stock, while R2SC.L (SPDR Russell 2000 US Small Cap UCITS ETF) is Small Cap Blend Equities fund tracking the Russell 2000 TR USD. Over the past 10 years, GCP.L returned 3.37%/yr vs 10.10%/yr for R2SC.L. At a 0.18 correlation, their price movements are largely independent.

Performance

GCP.L vs. R2SC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in GCP Infrastructure Investments Limited (GCP.L) and SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GCP.L is traded in GBp, while R2SC.L is traded in GBP. To make them comparable, the R2SC.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, GCP.L achieves a 16.21% return, which is significantly lower than R2SC.L's 19.47% return. Over the past 10 years, GCP.L has underperformed R2SC.L with an annualized return of 3.37%, while R2SC.L has yielded a comparatively higher 10.10% annualized return.

GCP.L

• 1D: 0.00%
• 1M: 4.83%
• 6M: 17.95%
• YTD: 16.21%
• 1Y: 18.17%
• 3Y*: 11.15%
• 5Y*: 3.73%
• 10Y*: 3.37%
• ALL TIME*: 6.08%

R2SC.L

• 1D: 0.45%
• 1M: -1.95%
• 6M: 12.58%
• YTD: 19.47%
• 1Y: 33.29%
• 3Y*: 14.02%
• 5Y*: 7.35%
• 10Y*: 10.10%
• ALL TIME*: 6.40%

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

GCP.L vs. R2SC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCP.L GCP Infrastructure Investments Limited	16.21%	15.63%	7.89%	-22.98%	0.44%	6.30%	-11.70%	9.93%	5.00%	11.41%
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF	19.47%	4.66%	11.88%	12.16%	-11.55%	15.87%	15.73%	20.67%	-7.45%	4.45%

Correlation

The correlation between GCP.L and R2SC.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014	0.18

The correlation between GCP.L and R2SC.L shifts across timeframes, from 0.07 (1 year) to 0.27 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GCP.L vs. R2SC.L — Risk / Return Rank

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

GCP.L

GCP.L Risk / Return Rank: 77
GCP.L Sharpe Ratio Rank: 81
GCP.L Sortino Ratio Rank: 77
GCP.L Omega Ratio Rank: 73
GCP.L Calmar Ratio Rank: 79
GCP.L Martin Ratio Rank: 75

R2SC.L

R2SC.L Risk / Return Rank: 81
R2SC.L Sharpe Ratio Rank: 82
R2SC.L Sortino Ratio Rank: 80
R2SC.L Omega Ratio Rank: 75
R2SC.L Calmar Ratio Rank: 89
R2SC.L Martin Ratio Rank: 79

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.

GCP.L vs. R2SC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GCP Infrastructure Investments Limited (GCP.L) and SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.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.

	GCP.L	R2SC.L	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.96	-0.74
Sortino ratio: Return per unit of downside risk	1.84	2.71	-0.87
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.11
Calmar ratio: Return relative to maximum drawdown	1.96	3.84	-1.88
Martin ratio: Return relative to average drawdown	3.82	11.06	-7.24

GCP.L vs. R2SC.L - Sharpe Ratio Comparison

The current GCP.L Sharpe Ratio is 1.23, which is lower than the R2SC.L Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of GCP.L and R2SC.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

GCP.L vs. R2SC.L - Drawdown Comparison

The maximum GCP.L drawdown since its inception was -44.22%, roughly equal to the maximum R2SC.L drawdown of -44.96%. Use the drawdown chart below to compare losses from any high point for GCP.L and R2SC.L.

Drawdown Indicators

	GCP.L	R2SC.L	Difference
Max Drawdown Largest peak-to-trough decline	-44.22%	-44.96%	+0.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.25%	-8.63%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-23.14%	-30.00%	+6.86%
Max Drawdown (5Y) Largest decline over 5 years	-44.22%	-30.00%	-14.22%
Max Drawdown (10Y) Largest decline over 10 years	-44.22%	-35.03%	-9.19%
Current Drawdown Current decline from peak	-1.55%	-3.81%	+2.26%
Average Drawdown Average peak-to-trough decline	-7.93%	-13.76%	+5.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	3.00%	+1.75%

Volatility

GCP.L vs. R2SC.L - Volatility Comparison

GCP Infrastructure Investments Limited (GCP.L) has a higher volatility of 4.80% compared to SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) at 4.47%. This indicates that GCP.L's price experiences larger fluctuations and is considered to be riskier than R2SC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCP.L	R2SC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	4.47%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	12.12%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	14.76%	16.90%	-2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.14%	26.09%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.66%	23.82%	-3.16%

Dividends

GCP.L vs. R2SC.L - Dividend Comparison

GCP.L's dividend yield for the trailing twelve months is around 8.48%, while R2SC.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCP.L GCP Infrastructure Investments Limited	8.48%	9.41%	9.89%	9.72%	6.86%	6.46%	6.97%	5.77%	5.97%	5.89%	6.18%	6.33%
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCP.L and R2SC.L in my portfolio?

GCP.L and R2SC.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.