IESE.AS vs. ^GSPC

Last updated Jun 4, 2026

IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) is Europe Equities fund tracking the MSCI Europe NR EUR, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, IESE.AS returned 7.82%/yr vs 13.42%/yr for ^GSPC. At a 0.44 correlation, their price movements are largely independent.

Performance

IESE.AS vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IESE.AS is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IESE.AS achieves a 6.26% return, which is significantly lower than ^GSPC's 11.67% return. Over the past 10 years, IESE.AS has underperformed ^GSPC with an annualized return of 7.82%, while ^GSPC has yielded a comparatively higher 13.42% annualized return.

IESE.AS

• 1D: -0.98%
• 1M: 4.02%
• YTD: 6.26%
• 6M: 8.13%
• 1Y: 5.45%
• 3Y*: 6.57%
• 5Y*: 5.21%
• 10Y*: 7.82%

^GSPC

• 1D: -0.52%
• 1M: 5.65%
• YTD: 11.67%
• 6M: 10.88%
• 1Y: 24.00%
• 3Y*: 17.62%
• 5Y*: 13.35%
• 10Y*: 13.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IESE.AS vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (Acc)	6.26%	2.40%	6.46%	16.38%	-14.87%	27.26%	3.74%	29.04%	-6.71%	11.41%
^GSPC S&P 500 Index	11.67%	2.58%	31.45%	20.51%	-14.45%	36.38%	6.68%	31.79%	-1.84%	4.74%

Correlation

The correlation between IESE.AS and ^GSPC 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	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 2, 2011	0.44

Return for Risk

IESE.AS vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IESE.AS

IESE.AS Risk / Return Rank: 15
IESE.AS Sharpe Ratio Rank: 15
IESE.AS Sortino Ratio Rank: 14
IESE.AS Omega Ratio Rank: 14
IESE.AS Calmar Ratio Rank: 15
IESE.AS Martin Ratio Rank: 16

^GSPC

^GSPC Risk / Return Rank: 73
^GSPC Sharpe Ratio Rank: 71
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 72
^GSPC Calmar Ratio Rank: 67
^GSPC Martin Ratio Rank: 81

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.

IESE.AS vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and S&P 500 Index (^GSPC). 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.

	IESE.AS	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.96	-1.56
Sortino ratio: Return per unit of downside risk	0.67	2.57	-1.89
Omega ratio: Gain probability vs. loss probability	1.08	1.36	-0.28
Calmar ratio: Return relative to maximum drawdown	0.54	3.19	-2.65
Martin ratio: Return relative to average drawdown	1.41	11.89	-10.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IESE.AS vs. ^GSPC - Sharpe Ratio Comparison

The current IESE.AS Sharpe Ratio is 0.40, which is lower than the ^GSPC Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of IESE.AS and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IESE.AS	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	1.96	-1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.80	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.72	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.51	0.00

Drawdowns

IESE.AS vs. ^GSPC - Drawdown Comparison

The maximum IESE.AS drawdown since its inception was -33.34%, smaller than the maximum ^GSPC drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for IESE.AS and ^GSPC.

Drawdown Indicators

	IESE.AS	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-33.34%	-51.62%	+18.28%
Max Drawdown (1Y) Largest decline over 1 year	-10.05%	-7.57%	-2.48%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-23.99%	+8.20%
Max Drawdown (5Y) Largest decline over 5 years	-23.66%	-23.99%	+0.33%
Max Drawdown (10Y) Largest decline over 10 years	-33.34%	-33.42%	+0.08%
Current Drawdown Current decline from peak	-1.88%	-0.52%	-1.36%
Average Drawdown Average peak-to-trough decline	-6.13%	-9.08%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	2.02%	+1.82%

Volatility

IESE.AS vs. ^GSPC - Volatility Comparison

iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) has a higher volatility of 4.74% compared to S&P 500 Index (^GSPC) at 2.40%. This indicates that IESE.AS's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IESE.AS	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	2.40%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	10.86%	8.64%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	13.40%	12.35%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	16.80%	-2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	18.59%	-3.30%

Frequently Asked Questions

Can I hold both IESE.AS and ^GSPC in my portfolio?

IESE.AS and ^GSPC 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.