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IBGM.AS vs. CSPX.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBGM.AS vs. CSPX.AS

Last updated Jun 5, 2026

IBGM.AS (iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist)) and CSPX.AS (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IBGM.AS is a European Government Bonds fund tracking the BBG EU Term 7-10 Year Index, while CSPX.AS is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IBGM.AS returned -0.17%/yr vs 14.96%/yr for CSPX.AS. At a 0.03 correlation, their price movements are largely independent. IBGM.AS charges 0.15%/yr vs 0.07%/yr for CSPX.AS.

Performance

IBGM.AS vs. CSPX.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.AS) and iShares Core S&P 500 UCITS ETF (CSPX.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IBGM.AS achieves a 0.01% return, which is significantly lower than CSPX.AS's 11.52% return. Over the past 10 years, IBGM.AS has underperformed CSPX.AS with an annualized return of -0.17%, while CSPX.AS has yielded a comparatively higher 14.96% annualized return.

IBGM.AS

1D
0.06%
1M
-0.05%
YTD
0.01%
6M
0.07%
1Y
0.71%
3Y*
2.56%
5Y*
-2.33%
10Y*
-0.17%

CSPX.AS

1D
-0.10%
1M
4.40%
YTD
11.52%
6M
10.96%
1Y
25.56%
3Y*
18.87%
5Y*
14.77%
10Y*
14.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBGM.AS vs. CSPX.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IBGM.AS
iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist)		0.01%1.50%1.28%9.04%-20.29%-3.24%4.29%6.68%1.19%1.04%
CSPX.AS
iShares Core S&P 500 UCITS ETF		11.52%4.00%33.87%22.28%-14.24%40.26%7.72%32.99%-0.36%7.13%

Correlation

The correlation between IBGM.AS and CSPX.AS is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

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

0.12

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

0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.03

Correlation (All Time)
Calculated using the full available price history since May 6, 2014

0.03

Over the past year, IBGM.AS and CSPX.AS have become more correlated (0.24) than their long-term average of 0.03, meaning their price movements have been converging.

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iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist)

iShares Core S&P 500 UCITS ETF

Often compared with IBGM.AS:
IBGM.AS vs. XUSE.ASIBGM.AS vs. R1GR.ASIBGM.AS vs. WINC.ASIBGM.AS vs. WITS.ASIBGM.AS vs. EUEA.ASIBGM.AS vs. DFND.ASIBGM.AS vs. IWDA.AS
Often compared with CSPX.AS:
CSPX.AS vs. CSPX.LCSPX.AS vs. VUSA.LCSPX.AS vs. VOOCSPX.AS vs. SPYCSPX.AS vs. CNDX.ASCSPX.AS vs. VUSD.LCSPX.AS vs. SPYL.DE

Return for Risk

IBGM.AS vs. CSPX.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBGM.AS
IBGM.AS Risk / Return Rank: 99
Overall Rank
IBGM.AS Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
IBGM.AS Sortino Ratio Rank: 99
Sortino Ratio Rank
IBGM.AS Omega Ratio Rank: 99
Omega Ratio Rank
IBGM.AS Calmar Ratio Rank: 1010
Calmar Ratio Rank
IBGM.AS Martin Ratio Rank: 1010
Martin Ratio Rank
CSPX.AS
CSPX.AS Risk / Return Rank: 7070
Overall Rank
CSPX.AS Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
CSPX.AS Sortino Ratio Rank: 6868
Sortino Ratio Rank
CSPX.AS Omega Ratio Rank: 7272
Omega Ratio Rank
CSPX.AS Calmar Ratio Rank: 7272
Calmar Ratio Rank
CSPX.AS Martin Ratio Rank: 7070
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.

IBGM.AS vs. CSPX.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.AS) and iShares Core S&P 500 UCITS ETF (CSPX.AS). 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.

IBGM.ASCSPX.ASDifference
Sharpe ratioReturn per unit of total volatility
0.04
2.25

-2.21

Sortino ratioReturn per unit of downside risk
0.09
3.06

-2.97

Omega ratioGain probability vs. loss probability

1.01

1.42

-0.41

Calmar ratioReturn relative to maximum drawdown

0.05

3.57

-3.51

Martin ratioReturn relative to average drawdown

0.14

12.76

-12.61

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

IBGM.AS vs. CSPX.AS - Sharpe Ratio Comparison

The current IBGM.AS Sharpe Ratio is 0.04, which is lower than the CSPX.AS Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of IBGM.AS and CSPX.AS, 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

IBGM.ASCSPX.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.04

2.25

-2.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.31

0.96

-1.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.03

0.92

-0.94

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.93

-0.53

Drawdowns

IBGM.AS vs. CSPX.AS - Drawdown Comparison

The maximum IBGM.AS drawdown since its inception was -23.23%, smaller than the maximum CSPX.AS drawdown of -33.65%. Use the drawdown chart below to compare losses from any high point for IBGM.AS and CSPX.AS.

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Drawdown Indicators

IBGM.ASCSPX.ASDifference

Max Drawdown

Largest peak-to-trough decline

-23.23%

-33.65%

+10.42%

Max Drawdown (1Y)

Largest decline over 1 year

-4.14%

-7.11%

+2.97%

Max Drawdown (3Y)

Largest decline over 3 years

-4.62%

-23.37%

+18.75%

Max Drawdown (5Y)

Largest decline over 5 years

-22.90%

-23.37%

+0.47%

Max Drawdown (10Y)

Largest decline over 10 years

-23.23%

-33.65%

+10.42%

Current Drawdown

Current decline from peak

-13.69%

-0.40%

-13.29%

Average Drawdown

Average peak-to-trough decline

-5.45%

-4.28%

-1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.52%

2.00%

-0.48%

Volatility

IBGM.AS vs. CSPX.AS - Volatility Comparison

The current volatility for iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.AS) is 2.32%, while iShares Core S&P 500 UCITS ETF (CSPX.AS) has a volatility of 2.59%. This indicates that IBGM.AS experiences smaller price fluctuations and is considered to be less risky than CSPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IBGM.ASCSPX.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.32%

2.59%

-0.27%

Volatility (6M)

Calculated over the trailing 6-month period

4.35%

7.37%

-3.02%

Volatility (1Y)

Calculated over the trailing 1-year period

5.13%

11.26%

-6.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.45%

15.13%

-7.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.13%

16.05%

-9.92%

IBGM.AS vs. CSPX.AS - Expense Ratio Comparison

IBGM.AS has a 0.15% expense ratio, which is higher than CSPX.AS'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

IBGM.AS vs. CSPX.AS - Dividend Comparison

IBGM.AS's dividend yield for the trailing twelve months is around 2.92%, while CSPX.AS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CSPX.AS
iShares Core S&P 500 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%
IBGM.AS
iShares EUR Government Bond 7-10yr UCITS ETF EUR (Dist)		2.92%2.82%2.73%1.97%0.13%0.00%0.09%0.63%0.75%0.76%0.80%1.09%

Frequently Asked Questions

IBGM.AS and CSPX.AS have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.15% for IBGM.AS.

IBGM.AS is categorized as European Government Bonds, while CSPX.AS is S&P 500. IBGM.AS tracks BBG EU Term 7-10 Year Index, while CSPX.AS tracks S&P 500 Index. Their fees differ too: 0.15% for IBGM.AS and 0.07% for CSPX.AS.

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