GSPX.L vs. ISF.L

Last updated Jun 13, 2026

GSPX.L (iShares Core S&P 500 UCITS ETF) and ISF.L (iShares Core FTSE 100 UCITS ETF (Dist)) are both exchange-traded funds - GSPX.L is a S&P 500 fund tracking the S&P 500 Index, while ISF.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, GSPX.L returned 12.13%/yr vs 11.88%/yr for ISF.L. A 0.60 correlation means they provide meaningful diversification when combined. GSPX.L charges 0.10%/yr vs 0.07%/yr for ISF.L.

Performance

GSPX.L vs. ISF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core S&P 500 UCITS ETF (GSPX.L) and iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, GSPX.L achieves a 8.24% return, which is significantly higher than ISF.L's 7.07% return.

GSPX.L

• 1D: 2.38%
• 1M: 0.64%
• YTD: 8.24%
• 6M: 9.38%
• 1Y: 24.05%
• 3Y*: 20.06%
• 5Y*: 12.13%
• 10Y*: —

ISF.L

• 1D: 1.50%
• 1M: 1.56%
• YTD: 7.07%
• 6M: 10.11%
• 1Y: 21.22%
• 3Y*: 15.23%
• 5Y*: 11.88%
• 10Y*: 9.81%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GSPX.L iShares Core S&P 500 UCITS ETF	8.24%	17.16%	24.72%	24.87%	-20.64%	28.96%	15.11%	27.76%	-7.71%
ISF.L iShares Core FTSE 100 UCITS ETF (Dist)	7.07%	25.97%	9.28%	7.81%	4.83%	17.68%	-11.67%	17.11%	-9.98%

Correlation

The correlation between GSPX.L and ISF.L is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018	0.60

The correlation between GSPX.L and ISF.L shifts across timeframes, from 0.48 (3 years) to 0.60 (all time), reflecting how their relationship changes across market environments.

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

Sectors	GSPX.L	ISF.L
Technology	39.0%	0.8%
Financial Services	11.1%	24.8%
Communication Services	10.4%	2.6%
Consumer Cyclical	9.8%	4.7%
Healthcare	8.3%	13.8%
Industrials	7.5%	13.8%
Consumer Defensive	4.5%	12.8%
Energy	3.2%	11.9%
Utilities	2.5%	5.3%
Real Estate	1.8%	0.9%
Basic Materials	1.7%	8.6%

Return for Risk

GSPX.L vs. ISF.L — Risk / Return Rank

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

GSPX.L

GSPX.L Risk / Return Rank: 71
GSPX.L Sharpe Ratio Rank: 71
GSPX.L Sortino Ratio Rank: 76
GSPX.L Omega Ratio Rank: 71
GSPX.L Calmar Ratio Rank: 65
GSPX.L Martin Ratio Rank: 74

ISF.L

ISF.L Risk / Return Rank: 63
ISF.L Sharpe Ratio Rank: 69
ISF.L Sortino Ratio Rank: 69
ISF.L Omega Ratio Rank: 71
ISF.L Calmar Ratio Rank: 55
ISF.L Martin Ratio Rank: 52

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (GSPX.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.

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.

	GSPX.L	ISF.L	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.93	+0.07
Sortino ratio: Return per unit of downside risk	2.93	2.72	+0.21
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	2.86	2.40	+0.47
Martin ratio: Return relative to average drawdown	12.14	7.89	+4.25

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

The current GSPX.L Sharpe Ratio is 2.00, which is comparable to the ISF.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of GSPX.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.

Drawdowns

GSPX.L vs. ISF.L - Drawdown Comparison

The maximum GSPX.L drawdown since its inception was -34.98%, smaller than the maximum ISF.L drawdown of -45.00%. Use the drawdown chart below to compare losses from any high point for GSPX.L and ISF.L.

Drawdown Indicators

	GSPX.L	ISF.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.98%	-45.00%	+10.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.37%	-8.82%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-12.69%	-6.28%
Max Drawdown (5Y) Largest decline over 5 years	-25.80%	-12.69%	-13.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.13%	—
Current Drawdown Current decline from peak	-2.12%	-3.05%	+0.93%
Average Drawdown Average peak-to-trough decline	-5.61%	-6.45%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.68%	-0.70%

Volatility

GSPX.L vs. ISF.L - Volatility Comparison

iShares Core S&P 500 UCITS ETF (GSPX.L) has a higher volatility of 4.22% compared to iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) at 3.51%. This indicates that GSPX.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.

Volatility by Period

	GSPX.L	ISF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	3.51%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	9.53%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	10.94%	+1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	12.59%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	14.84%	+2.85%

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

GSPX.L has a 0.10% expense ratio, which is higher than ISF.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GSPX.L vs. ISF.L - Dividend Comparison

GSPX.L's dividend yield for the trailing twelve months is around 0.82%, less than ISF.L's 1.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSPX.L iShares Core S&P 500 UCITS ETF	0.82%	0.89%	0.99%	1.15%	1.40%	0.96%	1.31%	1.50%	0.11%	0.00%	0.00%	0.00%
ISF.L iShares Core FTSE 100 UCITS ETF (Dist)	1.71%	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

Can I hold both GSPX.L and ISF.L in my portfolio?

GSPX.L and ISF.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSPX.L or ISF.L?

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.

Which ETF is cheaper, GSPX.L or ISF.L?

ISF.L is cheaper with a 0.07% expense ratio, compared with 0.10% for GSPX.L.

What is the main difference between GSPX.L and ISF.L?

GSPX.L is categorized as S&P 500, while ISF.L is Europe Equities. GSPX.L tracks S&P 500 Index, while ISF.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.10% for GSPX.L and 0.07% for ISF.L.