IBGM.L vs. CSP1.L
IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IBGM.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IBGM.L returned 31.18%/yr vs 16.07%/yr for CSP1.L. At a 0.10 correlation, their price movements are largely independent. IBGM.L charges 0.15%/yr vs 0.07%/yr for CSP1.L.
Performance
IBGM.L vs. CSP1.L - Performance Comparison
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Different Trading Currencies
IBGM.L is traded in GBP, while CSP1.L is traded in GBp. To make them comparable, the CSP1.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGM.L achieves a -2.35% return, which is significantly lower than CSP1.L's 10.55% return. Over the past 10 years, IBGM.L has outperformed CSP1.L with an annualized return of 31.18%, while CSP1.L has yielded a comparatively lower 16.07% annualized return.
IBGM.L
- 1D
- 0.20%
- 1M
- -1.36%
- YTD
- -2.35%
- 6M
- -2.29%
- 1Y
- 0.51%
- 3Y*
- 1.73%
- 5Y*
- 39.50%
- 10Y*
- 31.18%
CSP1.L
- 1D
- 0.05%
- 1M
- 4.54%
- YTD
- 10.55%
- 6M
- 9.89%
- 1Y
- 28.98%
- 3Y*
- 19.02%
- 5Y*
- 14.94%
- 10Y*
- 16.07%
IBGM.L vs. CSP1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.35% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
CSP1.L iShares Core S&P 500 UCITS ETF | 10.55% | 9.37% | 27.35% | 19.79% | -9.05% | 31.07% | 13.65% | 26.42% | 0.01% | 10.83% |
Correlation
The correlation between IBGM.L and CSP1.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010 | 0.10 |
The correlation between IBGM.L and CSP1.L shifts across timeframes, from 0.05 (5 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBGM.L vs. CSP1.L — Risk / Return Rank
IBGM.L
CSP1.L
IBGM.L vs. CSP1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) and iShares Core S&P 500 UCITS ETF (CSP1.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.
| IBGM.L | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.61 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.51 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 4.07 | -4.07 |
| Martin ratioReturn relative to average drawdown | 0.01 | 14.99 | -14.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBGM.L | CSP1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 2.73 | -2.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 1.04 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 1.03 | -0.81 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 1.09 | -0.88 |
Drawdowns
IBGM.L vs. CSP1.L - Drawdown Comparison
The maximum IBGM.L drawdown since its inception was -26.66%, roughly equal to the maximum CSP1.L drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for IBGM.L and CSP1.L.
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Drawdown Indicators
| IBGM.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.66% | -25.48% | -1.18% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -7.12% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -20.77% | +13.92% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | -20.77% | -0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -26.66% | -25.48% | -1.18% |
Current DrawdownCurrent decline from peak | -5.51% | -0.24% | -5.27% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -3.32% | -1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 1.94% | +0.90% |
Volatility
IBGM.L vs. CSP1.L - Volatility Comparison
iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) and iShares Core S&P 500 UCITS ETF (CSP1.L) have volatilities of 2.59% and 2.62%, 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.
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Volatility by Period
| IBGM.L | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 2.62% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 7.16% | -2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.31% | 10.62% | -4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 193.47% | 14.31% | +179.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 138.63% | 15.57% | +123.06% |
IBGM.L vs. CSP1.L - Expense Ratio Comparison
IBGM.L has a 0.15% expense ratio, which is higher than CSP1.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
IBGM.L vs. CSP1.L - Dividend Comparison
Neither IBGM.L nor CSP1.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSP1.L 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.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
Frequently Asked Questions
IBGM.L and CSP1.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSP1.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSP1.L is cheaper with a 0.07% expense ratio, compared with 0.15% for IBGM.L.
IBGM.L is categorized as European Government Bonds, while CSP1.L is S&P 500. IBGM.L tracks Bloomberg Euro Agg Govt TR EUR, while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.15% for IBGM.L and 0.07% for CSP1.L.
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