IBGS.L vs. CSP1.L
IBGS.L (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IBGS.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt 1-3 Yr 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, IBGS.L returned 1.38%/yr vs 16.22%/yr for CSP1.L. At a 0.13 correlation, their price movements are largely independent. IBGS.L charges 0.15%/yr vs 0.07%/yr for CSP1.L.
Performance
IBGS.L vs. CSP1.L - Performance Comparison
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Different Trading Currencies
IBGS.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, IBGS.L achieves a -1.02% return, which is significantly lower than CSP1.L's 10.49% return. Over the past 10 years, IBGS.L has underperformed CSP1.L with an annualized return of 1.38%, while CSP1.L has yielded a comparatively higher 16.22% annualized return.
IBGS.L
- 1D
- -0.07%
- 1M
- 0.24%
- YTD
- -1.02%
- 6M
- -0.96%
- 1Y
- 3.54%
- 3Y*
- 2.79%
- 5Y*
- 0.92%
- 10Y*
- 1.38%
CSP1.L
- 1D
- -0.29%
- 1M
- 5.91%
- YTD
- 10.49%
- 6M
- 10.33%
- 1Y
- 29.03%
- 3Y*
- 19.30%
- 5Y*
- 14.93%
- 10Y*
- 16.22%
IBGS.L vs. CSP1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | -1.02% | 7.76% | -1.67% | 1.50% | 1.00% | -7.25% | 5.39% | -4.81% | 0.64% | 3.54% |
CSP1.L iShares Core S&P 500 UCITS ETF | 10.49% | 9.37% | 27.35% | 19.79% | -9.05% | 31.07% | 13.65% | 26.42% | 0.01% | 10.83% |
Correlation
The correlation between IBGS.L and CSP1.L is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010 | 0.13 |
The correlation between IBGS.L and CSP1.L shifts across timeframes, from 0.02 (3 years) to 0.17 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBGS.L vs. CSP1.L — Risk / Return Rank
IBGS.L
CSP1.L
IBGS.L vs. CSP1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.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.
| IBGS.L | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.51 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 4.06 | -2.70 |
| Martin ratioReturn relative to average drawdown | 3.05 | 14.94 | -11.89 |
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
| IBGS.L | CSP1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 2.72 | -1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 1.04 | -0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 1.04 | -0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 1.09 | -0.84 |
Drawdowns
IBGS.L vs. CSP1.L - Drawdown Comparison
The maximum IBGS.L drawdown since its inception was -16.59%, smaller than the maximum CSP1.L drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for IBGS.L and CSP1.L.
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Drawdown Indicators
| IBGS.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.59% | -25.48% | +8.89% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -7.12% | +4.52% |
Max Drawdown (3Y)Largest decline over 3 years | -3.06% | -20.77% | +17.71% |
Max Drawdown (5Y)Largest decline over 5 years | -5.95% | -20.77% | +14.82% |
Max Drawdown (10Y)Largest decline over 10 years | -13.11% | -25.48% | +12.37% |
Current DrawdownCurrent decline from peak | -3.95% | -0.29% | -3.66% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -3.32% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.94% | -0.78% |
Volatility
IBGS.L vs. CSP1.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) is 1.20%, while iShares Core S&P 500 UCITS ETF (CSP1.L) has a volatility of 2.61%. This indicates that IBGS.L experiences smaller price fluctuations and is considered to be less risky than CSP1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGS.L | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 2.61% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 7.16% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 10.70% | -6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 14.31% | -8.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 15.58% | -8.49% |
IBGS.L vs. CSP1.L - Expense Ratio Comparison
IBGS.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
IBGS.L vs. CSP1.L - Dividend Comparison
IBGS.L's dividend yield for the trailing twelve months is around 2.18%, while CSP1.L has not 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% |
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.39% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.28% |
Frequently Asked Questions
IBGS.L and CSP1.L have a correlation of 0.09, 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 IBGS.L.
IBGS.L is categorized as European Government Bonds, while CSP1.L is S&P 500. IBGS.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.15% for IBGS.L and 0.07% for CSP1.L.
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