ICLN vs. CSPX.AS
ICLN (iShares Global Clean Energy ETF) and CSPX.AS (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy 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, ICLN returned 11.67%/yr vs 15.23%/yr for CSPX.AS. At a 0.41 correlation, their price movements are largely independent. ICLN charges 0.39%/yr vs 0.07%/yr for CSPX.AS.
Performance
ICLN vs. CSPX.AS - Performance Comparison
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Different Trading Currencies
ICLN is traded in USD, while CSPX.AS is traded in EUR. To make them comparable, the CSPX.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ICLN achieves a 27.33% return, which is significantly higher than CSPX.AS's 8.32% return. Over the past 10 years, ICLN has underperformed CSPX.AS with an annualized return of 11.67%, while CSPX.AS has yielded a comparatively higher 15.23% annualized return.
ICLN
- 1D
- 0.87%
- 1M
- -5.47%
- YTD
- 27.33%
- 6M
- 27.01%
- 1Y
- 60.20%
- 3Y*
- 5.25%
- 5Y*
- -0.21%
- 10Y*
- 11.67%
CSPX.AS
- 1D
- 1.44%
- 1M
- -0.86%
- YTD
- 8.32%
- 6M
- 9.47%
- 1Y
- 24.93%
- 3Y*
- 20.69%
- 5Y*
- 13.19%
- 10Y*
- 15.23%
ICLN vs. CSPX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICLN iShares Global Clean Energy ETF | 27.33% | 47.05% | -25.72% | -20.41% | -5.43% | -24.18% | 141.82% | 44.36% | -9.03% | 21.47% |
CSPX.AS iShares Core S&P 500 UCITS ETF | 8.32% | 17.97% | 25.59% | 26.14% | -19.39% | 30.70% | 17.25% | 30.40% | -5.01% | 22.28% |
Correlation
The correlation between ICLN and CSPX.AS is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 19, 2010 | 0.41 |
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Return for Risk
ICLN vs. CSPX.AS — Risk / Return Rank
ICLN
CSPX.AS
ICLN vs. CSPX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy ETF (ICLN) 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.
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.
| ICLN | CSPX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 2.80 | +0.93 |
| Martin ratioReturn relative to average drawdown | 13.84 | 11.63 | +2.21 |
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Drawdowns
ICLN vs. CSPX.AS - Drawdown Comparison
The maximum ICLN drawdown since its inception was -87.15%, which is greater than CSPX.AS's maximum drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for ICLN and CSPX.AS.
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Drawdown Indicators
| ICLN | CSPX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.15% | -34.12% | -53.03% |
Max Drawdown (1Y)Largest decline over 1 year | -16.38% | -8.56% | -7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -43.18% | -19.52% | -23.66% |
Max Drawdown (5Y)Largest decline over 5 years | -57.16% | -24.42% | -32.74% |
Max Drawdown (10Y)Largest decline over 10 years | -66.75% | -34.12% | -32.63% |
Current DrawdownCurrent decline from peak | -43.03% | -2.30% | -40.73% |
Average DrawdownAverage peak-to-trough decline | -66.56% | -3.71% | -62.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 2.07% | +2.34% |
Volatility
ICLN vs. CSPX.AS - Volatility Comparison
iShares Global Clean Energy ETF (ICLN) has a higher volatility of 12.97% compared to iShares Core S&P 500 UCITS ETF (CSPX.AS) at 3.33%. This indicates that ICLN's price experiences larger fluctuations and is considered to be riskier 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
| ICLN | CSPX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.97% | 3.33% | +9.64% |
Volatility (6M)Calculated over the trailing 6-month period | 22.62% | 8.33% | +14.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.21% | 11.57% | +16.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.55% | 15.88% | +11.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.32% | 16.31% | +11.01% |
ICLN vs. CSPX.AS - Expense Ratio Comparison
ICLN has a 0.39% expense ratio, which is higher than CSPX.AS's 0.07% expense ratio.
Dividends
ICLN vs. CSPX.AS - Dividend Comparison
ICLN's dividend yield for the trailing twelve months is around 1.28%, while CSPX.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ICLN iShares Global Clean Energy ETF | 1.28% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
Frequently Asked Questions
ICLN and CSPX.AS have a correlation of 0.46, 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 0.39% for ICLN.
ICLN is categorized as Alternative Energy Equities, while CSPX.AS is S&P 500. ICLN tracks S&P Global Clean Energy Index, while CSPX.AS tracks S&P 500 Index. Their fees differ too: 0.39% for ICLN and 0.07% for CSPX.AS.
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