IBTE.L vs. CSP1.L
IBTE.L (iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IBTE.L is a Government Bonds fund tracking the iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc), while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IBTE.L returned 0.06%/yr vs 13.81%/yr for CSP1.L. At a correlation of -0.17, they often move in opposite directions. IBTE.L charges 0.10%/yr vs 0.07%/yr for CSP1.L.
Performance
IBTE.L vs. CSP1.L - Performance Comparison
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Different Trading Currencies
IBTE.L is traded in EUR, while CSP1.L is traded in GBp. To make them comparable, the CSP1.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTE.L achieves a -0.14% return, which is significantly lower than CSP1.L's 13.29% return.
IBTE.L
- 1D
- 0.06%
- 1M
- 0.06%
- 6M
- -0.14%
- YTD
- -0.14%
- 1Y
- 1.46%
- 3Y*
- 2.43%
- 5Y*
- 0.06%
- 10Y*
- —
CSP1.L
- 1D
- 0.17%
- 1M
- 1.55%
- 6M
- 12.03%
- YTD
- 13.29%
- 1Y
- 23.60%
- 3Y*
- 19.37%
- 5Y*
- 13.81%
- 10Y*
- 14.56%
IBTE.L vs. CSP1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBTE.L iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) | -0.14% | 3.04% | 2.49% | 1.87% | -5.75% | -1.46% | 1.84% | 0.50% | -0.40% |
CSP1.L iShares Core S&P 500 UCITS ETF | 13.29% | 3.67% | 33.49% | 22.33% | -13.74% | 39.60% | 7.48% | 34.46% | 3.15% |
Correlation
The correlation between IBTE.L and CSP1.L is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | -0.17 |
The correlation between IBTE.L and CSP1.L shifts across timeframes, from -0.17 (all time) to -0.02 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBTE.L vs. CSP1.L — Risk / Return Rank
IBTE.L
CSP1.L
IBTE.L vs. CSP1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) (IBTE.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.
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.
| IBTE.L | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 3.28 | -2.00 |
| Martin ratioReturn relative to average drawdown | 3.18 | 11.74 | -8.55 |
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Drawdowns
IBTE.L vs. CSP1.L - Drawdown Comparison
The maximum IBTE.L drawdown since its inception was -8.51%, smaller than the maximum CSP1.L drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for IBTE.L and CSP1.L.
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Drawdown Indicators
| IBTE.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.51% | -32.91% | +24.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.98% | -7.17% | +6.19% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -22.35% | +21.32% |
Max Drawdown (5Y)Largest decline over 5 years | -7.66% | -22.35% | +14.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.91% | — |
Current DrawdownCurrent decline from peak | -0.78% | -0.04% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -4.33% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 2.01% | -1.62% |
Volatility
IBTE.L vs. CSP1.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) (IBTE.L) is 0.50%, while iShares Core S&P 500 UCITS ETF (CSP1.L) has a volatility of 2.77%. This indicates that IBTE.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
| IBTE.L | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 2.77% | -2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.37% | 7.90% | -6.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.75% | 11.60% | -9.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.28% | 20.59% | -18.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.97% | 18.88% | -16.91% |
IBTE.L vs. CSP1.L - Expense Ratio Comparison
IBTE.L has a 0.10% 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
IBTE.L vs. CSP1.L - Dividend Comparison
Neither IBTE.L nor CSP1.L has paid dividends to shareholders.
Frequently Asked Questions
IBTE.L and CSP1.L have a correlation of -0.02, 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 0.10% for IBTE.L.
IBTE.L is categorized as Government Bonds, while CSP1.L is S&P 500. IBTE.L tracks iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc), while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.10% for IBTE.L and 0.07% for CSP1.L.
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