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I500.L vs. ISAC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

I500.L vs. ISAC.L

Last updated Jun 5, 2026

I500.L (iShares S&P 500 Swap UCITS ETF) and ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) are both exchange-traded funds - I500.L is a S&P 500 fund tracking the S&P 500 Net Dividends Reinvested Index (Net USD), while ISAC.L is a Global Equities fund tracking the MSCI ACWI Index. Both are passively managed. Over the past 5 years, I500.L returned 15.15%/yr vs 12.58%/yr for ISAC.L. Their correlation of 0.87 suggests significant overlap in exposure. I500.L charges 0.07%/yr vs 0.20%/yr for ISAC.L.

Performance

I500.L vs. ISAC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 Swap UCITS ETF (I500.L) and iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

I500.L is traded in GBP, while ISAC.L is traded in USD. To make them comparable, the ISAC.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, I500.L achieves a 10.61% return, which is significantly lower than ISAC.L's 11.96% return.

I500.L

1D
0.05%
1M
4.55%
YTD
10.61%
6M
9.88%
1Y
29.25%
3Y*
19.22%
5Y*
15.15%
10Y*
—

ISAC.L

1D
-0.13%
1M
3.81%
YTD
11.96%
6M
11.94%
1Y
29.79%
3Y*
18.13%
5Y*
12.58%
10Y*
13.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

I500.L vs. ISAC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
I500.L
iShares S&P 500 Swap UCITS ETF		10.61%9.56%27.57%20.04%-8.74%31.23%5.72%
ISAC.L
iShares MSCI ACWI UCITS ETF USD (Acc)		11.96%13.64%19.87%16.44%-8.43%19.97%8.15%

Correlation

The correlation between I500.L and ISAC.L is 0.86, 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

0.86

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

0.87

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

0.87

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2020

0.87

The correlation between I500.L and ISAC.L has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

I500.L vs. ISAC.L - Sectors Allocation Comparison

Sectors
I500.L
ISAC.L

Technology

35.6%
33.9%

Financial Services

11.8%
17.3%

Communication Services

11.2%
8.6%

Consumer Cyclical

10.1%
8.5%

Healthcare

8.5%
7.8%

Industrials

8.3%
9.0%

Consumer Defensive

4.9%
4.4%

Energy

3.5%
3.6%

Utilities

2.4%
2.2%

Real Estate

1.9%
1.2%

Basic Materials

1.8%
2.9%

Technology

I500.L
35.6%
ISAC.L
33.9%

Financial Services

I500.L
11.8%
ISAC.L
17.3%

Communication Services

I500.L
11.2%
ISAC.L
8.6%

Consumer Cyclical

I500.L
10.1%
ISAC.L
8.5%

Healthcare

I500.L
8.5%
ISAC.L
7.8%

Industrials

I500.L
8.3%
ISAC.L
9.0%

Consumer Defensive

I500.L
4.9%
ISAC.L
4.4%

Energy

I500.L
3.5%
ISAC.L
3.6%

Utilities

I500.L
2.4%
ISAC.L
2.2%

Real Estate

I500.L
1.9%
ISAC.L
1.2%

Basic Materials

I500.L
1.8%
ISAC.L
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P 500 Swap UCITS ETF

iShares MSCI ACWI UCITS ETF USD (Acc)

Often compared with I500.L:
I500.L vs. CSPX.LI500.L vs. CSP1.LI500.L vs. VUAG.LI500.L vs. VUAA.LI500.L vs. HSPX.LI500.L vs. VOOI500.L vs. NASL.L
Often compared with ISAC.L:
ISAC.L vs. VWRA.LISAC.L vs. SSAC.LISAC.L vs. IWDA.LISAC.L vs. VTISAC.L vs. SWDA.LISAC.L vs. VOOISAC.L vs. SWRD.L

Return for Risk

I500.L vs. ISAC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
I500.L
I500.L Risk / Return Rank: 8383
Overall Rank
I500.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
I500.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
I500.L Omega Ratio Rank: 8686
Omega Ratio Rank
I500.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
I500.L Martin Ratio Rank: 7979
Martin Ratio Rank
ISAC.L
ISAC.L Risk / Return Rank: 7373
Overall Rank
ISAC.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
ISAC.L Sortino Ratio Rank: 7777
Sortino Ratio Rank
ISAC.L Omega Ratio Rank: 7373
Omega Ratio Rank
ISAC.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
ISAC.L Martin Ratio Rank: 7474
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.

I500.L vs. ISAC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Swap UCITS ETF (I500.L) and iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.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.

I500.LISAC.LDifference
Sharpe ratioReturn per unit of total volatility
2.81
2.51

+0.29

Sortino ratioReturn per unit of downside risk
3.77
3.47

+0.30

Omega ratioGain probability vs. loss probability

1.52

1.47

+0.05

Calmar ratioReturn relative to maximum drawdown

4.13

4.34

-0.22

Martin ratioReturn relative to average drawdown

15.23

16.68

-1.45

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

I500.L vs. ISAC.L - Sharpe Ratio Comparison

The current I500.L Sharpe Ratio is 2.81, which is comparable to the ISAC.L Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of I500.L and ISAC.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

I500.LISAC.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.81

2.51

+0.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.07

0.88

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.13

0.86

+0.28

Drawdowns

I500.L vs. ISAC.L - Drawdown Comparison

The maximum I500.L drawdown since its inception was -20.75%, smaller than the maximum ISAC.L drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for I500.L and ISAC.L.

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Drawdown Indicators

I500.LISAC.LDifference

Max Drawdown

Largest peak-to-trough decline

-20.75%

-25.84%

+5.09%

Max Drawdown (1Y)

Largest decline over 1 year

-7.08%

-6.88%

-0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-20.75%

-18.33%

-2.42%

Max Drawdown (5Y)

Largest decline over 5 years

-20.75%

-18.33%

-2.42%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.84%

—

Current Drawdown

Current decline from peak

-0.23%

-0.39%

+0.16%

Average Drawdown

Average peak-to-trough decline

-3.35%

-3.56%

+0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

1.80%

+0.12%

Volatility

I500.L vs. ISAC.L - Volatility Comparison

The current volatility for iShares S&P 500 Swap UCITS ETF (I500.L) is 2.59%, while iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) has a volatility of 3.70%. This indicates that I500.L experiences smaller price fluctuations and is considered to be less risky than ISAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

I500.LISAC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.59%

3.70%

-1.11%

Volatility (6M)

Calculated over the trailing 6-month period

7.12%

9.23%

-2.11%

Volatility (1Y)

Calculated over the trailing 1-year period

10.40%

11.88%

-1.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.21%

14.28%

-0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.30%

15.48%

-1.18%

I500.L vs. ISAC.L - Expense Ratio Comparison

I500.L has a 0.07% expense ratio, which is lower than ISAC.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

I500.L vs. ISAC.L - Dividend Comparison

Neither I500.L nor ISAC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

I500.L and ISAC.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, I500.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

I500.L is cheaper with a 0.07% expense ratio, compared with 0.20% for ISAC.L.

I500.L is categorized as S&P 500, while ISAC.L is Global Equities. I500.L tracks S&P 500 Net Dividends Reinvested Index (Net USD), while ISAC.L tracks MSCI ACWI Index. Their fees differ too: 0.07% for I500.L and 0.20% for ISAC.L.

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