IBTL.L vs. CSP1.L
IBTL.L (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IBTL.L is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IBTL.L returned -0.81%/yr vs 16.22%/yr for CSP1.L. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
IBTL.L vs. CSP1.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTL.L achieves a -1.02% return, which is significantly lower than CSP1.L's 10.49% return. Over the past 10 years, IBTL.L has underperformed CSP1.L with an annualized return of -0.81%, while CSP1.L has yielded a comparatively higher 16.22% annualized return.
IBTL.L
- 1D
- -0.23%
- 1M
- 1.40%
- YTD
- -1.02%
- 6M
- -2.44%
- 1Y
- 5.37%
- 3Y*
- -4.19%
- 5Y*
- -5.14%
- 10Y*
- -0.81%
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%
IBTL.L vs. CSP1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | -1.02% | -2.80% | -5.50% | -3.62% | -22.17% | -3.32% | 13.07% | 12.05% | 3.06% | -0.04% |
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 IBTL.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 | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2015 | 0.03 |
The correlation between IBTL.L and CSP1.L shifts across timeframes, from 0.02 (5 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBTL.L vs. CSP1.L — Risk / Return Rank
IBTL.L
CSP1.L
IBTL.L vs. CSP1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.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.
| IBTL.L | CSP1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.51 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 4.06 | -3.41 |
| Martin ratioReturn relative to average drawdown | 1.41 | 14.94 | -13.53 |
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
| IBTL.L | CSP1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 2.72 | -2.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | 1.04 | -1.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.05 | 1.04 | -1.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 1.09 | -1.12 |
Drawdowns
IBTL.L vs. CSP1.L - Drawdown Comparison
The maximum IBTL.L drawdown since its inception was -48.85%, which is greater than CSP1.L's maximum drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for IBTL.L and CSP1.L.
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Drawdown Indicators
| IBTL.L | CSP1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.85% | -25.48% | -23.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.25% | -7.12% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -20.77% | +3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -39.35% | -20.77% | -18.58% |
Max Drawdown (10Y)Largest decline over 10 years | -48.85% | -25.48% | -23.37% |
Current DrawdownCurrent decline from peak | -45.46% | -0.29% | -45.17% |
Average DrawdownAverage peak-to-trough decline | -23.74% | -3.32% | -20.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 1.94% | +1.86% |
Volatility
IBTL.L vs. CSP1.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.L) is 2.42%, while iShares Core S&P 500 UCITS ETF (CSP1.L) has a volatility of 2.61%. This indicates that IBTL.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
| IBTL.L | CSP1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 2.61% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 7.16% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.53% | 10.70% | -1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 14.31% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 15.58% | +0.96% |
IBTL.L vs. CSP1.L - Expense Ratio Comparison
Both IBTL.L and CSP1.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBTL.L vs. CSP1.L - Dividend Comparison
IBTL.L's dividend yield for the trailing twelve months is around 4.36%, 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% |
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 4.36% | 4.32% | 4.59% | 3.78% | 2.96% | 1.72% | 1.86% | 2.54% | 2.75% | 2.66% | 2.44% | 2.07% |
Frequently Asked Questions
IBTL.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.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBTL.L and CSP1.L have the same expense ratio: 0.07% per year.
IBTL.L is categorized as Government Bonds, while CSP1.L is S&P 500. IBTL.L tracks ICE U.S. Treasury 20+ Year Bond Index, while CSP1.L tracks S&P 500 Index.
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