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IEMD.L vs. CSP1.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEMD.L vs. CSP1.L

Last updated Jun 5, 2026

IEMD.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)) and CSP1.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IEMD.L is a Momentum fund tracking the MSCI Europe Momentum Index, while CSP1.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IEMD.L returned 11.34%/yr vs 14.79%/yr for CSP1.L. A 0.63 correlation means they provide meaningful diversification when combined. IEMD.L charges 0.25%/yr vs 0.07%/yr for CSP1.L.

Performance

IEMD.L vs. CSP1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) and iShares Core S&P 500 UCITS ETF (CSP1.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEMD.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, IEMD.L achieves a 8.04% return, which is significantly lower than CSP1.L's 11.53% return.

IEMD.L

1D
-0.30%
1M
2.61%
YTD
8.04%
6M
11.36%
1Y
17.49%
3Y*
20.17%
5Y*
11.34%
10Y*
—

CSP1.L

1D
-0.04%
1M
5.34%
YTD
11.53%
6M
11.59%
1Y
25.76%
3Y*
18.84%
5Y*
14.79%
10Y*
14.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMD.L vs. CSP1.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		8.04%26.34%20.48%12.54%-14.50%21.92%10.99%29.63%-9.29%
CSP1.L
iShares Core S&P 500 UCITS ETF		11.53%3.67%33.49%22.33%-13.74%39.60%7.48%34.46%-1.62%

Correlation

The correlation between IEMD.L and CSP1.L is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.63

The correlation between IEMD.L and CSP1.L has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

IEMD.L vs. CSP1.L - Sectors Allocation Comparison

Sectors
IEMD.L
CSP1.L

Financial Services

23.7%
11.3%

Healthcare

15.6%
8.4%

Industrials

15.2%
7.9%

Utilities

12.6%
2.2%

Energy

11.0%
3.4%

Technology

7.9%
38.0%

Basic Materials

7.6%
1.7%

Communication Services

2.9%
10.7%

Consumer Defensive

2.8%
4.7%

Consumer Cyclical

0.5%
9.9%

Real Estate

0.4%
1.9%

Financial Services

IEMD.L
23.7%
CSP1.L
11.3%

Healthcare

IEMD.L
15.6%
CSP1.L
8.4%

Industrials

IEMD.L
15.2%
CSP1.L
7.9%

Utilities

IEMD.L
12.6%
CSP1.L
2.2%

Energy

IEMD.L
11.0%
CSP1.L
3.4%

Technology

IEMD.L
7.9%
CSP1.L
38.0%

Basic Materials

IEMD.L
7.6%
CSP1.L
1.7%

Communication Services

IEMD.L
2.9%
CSP1.L
10.7%

Consumer Defensive

IEMD.L
2.8%
CSP1.L
4.7%

Consumer Cyclical

IEMD.L
0.5%
CSP1.L
9.9%

Real Estate

IEMD.L
0.4%
CSP1.L
1.9%

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iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)

iShares Core S&P 500 UCITS ETF

Often compared with IEMD.L:
IEMD.L vs. CEMR.DEIEMD.L vs. EIMI.LIEMD.L vs. ZPDX.DEIEMD.L vs. URTHIEMD.L vs. IVVIEMD.L vs. VOOIEMD.L vs. IWMO.L
Often compared with CSP1.L:
CSP1.L vs. CSPX.LCSP1.L vs. VUAG.LCSP1.L vs. SPYCSP1.L vs. IUSA.LCSP1.L vs. VUAA.LCSP1.L vs. SPY5.LCSP1.L vs. VOO

Return for Risk

IEMD.L vs. CSP1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEMD.L
IEMD.L Risk / Return Rank: 3131
Overall Rank
IEMD.L Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IEMD.L Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEMD.L Omega Ratio Rank: 3030
Omega Ratio Rank
IEMD.L Calmar Ratio Rank: 3131
Calmar Ratio Rank
IEMD.L Martin Ratio Rank: 3737
Martin Ratio Rank
CSP1.L
CSP1.L Risk / Return Rank: 8282
Overall Rank
CSP1.L Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
CSP1.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
CSP1.L Omega Ratio Rank: 8585
Omega Ratio Rank
CSP1.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
CSP1.L Martin Ratio Rank: 7878
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IEMD.L vs. CSP1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.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.

IEMD.LCSP1.LDifference
Sharpe ratioReturn per unit of total volatility
1.05
2.27

-1.22

Sortino ratioReturn per unit of downside risk
1.61
3.08

-1.47

Omega ratioGain probability vs. loss probability

1.20

1.42

-0.22

Calmar ratioReturn relative to maximum drawdown

1.51

3.58

-2.07

Martin ratioReturn relative to average drawdown

5.57

12.98

-7.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEMD.L vs. CSP1.L - Sharpe Ratio Comparison

The current IEMD.L Sharpe Ratio is 1.05, which is lower than the CSP1.L Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of IEMD.L and CSP1.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IEMD.LCSP1.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.05

2.27

-1.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.98

-0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.93

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

1.02

-0.32

Drawdowns

IEMD.L vs. CSP1.L - Drawdown Comparison

The maximum IEMD.L drawdown since its inception was -30.77%, smaller than the maximum CSP1.L drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for IEMD.L and CSP1.L.

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Drawdown Indicators

IEMD.LCSP1.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.77%

-32.91%

+2.14%

Max Drawdown (1Y)

Largest decline over 1 year

-11.53%

-7.17%

-4.36%

Max Drawdown (3Y)

Largest decline over 3 years

-15.64%

-22.35%

+6.71%

Max Drawdown (5Y)

Largest decline over 5 years

-23.73%

-22.35%

-1.38%

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.91%

—

Current Drawdown

Current decline from peak

-1.00%

-0.41%

-0.59%

Average Drawdown

Average peak-to-trough decline

-5.91%

-4.11%

-1.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

1.98%

+1.15%

Volatility

IEMD.L vs. CSP1.L - Volatility Comparison

iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) has a higher volatility of 4.68% compared to iShares Core S&P 500 UCITS ETF (CSP1.L) at 2.16%. This indicates that IEMD.L's price experiences larger fluctuations and is considered to be riskier 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

IEMD.LCSP1.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.68%

2.16%

+2.52%

Volatility (6M)

Calculated over the trailing 6-month period

14.14%

7.40%

+6.74%

Volatility (1Y)

Calculated over the trailing 1-year period

16.56%

11.29%

+5.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

15.06%

+1.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.82%

16.08%

+0.74%

IEMD.L vs. CSP1.L - Expense Ratio Comparison

IEMD.L has a 0.25% 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

IEMD.L vs. CSP1.L - Dividend Comparison

IEMD.L's dividend yield for the trailing twelve months is around 1.71%, while CSP1.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
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%
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		1.71%1.85%2.70%2.78%2.90%1.77%1.36%2.00%2.51%

Frequently Asked Questions

IEMD.L and CSP1.L have a correlation of 0.55, 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 0.25% for IEMD.L.

IEMD.L is categorized as Momentum, while CSP1.L is S&P 500. IEMD.L tracks MSCI Europe Momentum Index, while CSP1.L tracks S&P 500 Index. Their fees differ too: 0.25% for IEMD.L and 0.07% for CSP1.L.

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