IESG.L vs. CSUK.L

Last updated Jun 5, 2026

IESG.L (iShares MSCI Europe SRI UCITS ETF) and CSUK.L (iShares MSCI UK UCITS ETF (Acc)) are both exchange-traded funds - IESG.L is a ESG fund tracking the MSCI Europe SRI Select Reduced Fossil Fuel Index, while CSUK.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, IESG.L returned 8.90%/yr vs 8.76%/yr for CSUK.L. A 0.73 correlation means they provide meaningful diversification when combined. IESG.L charges 0.20%/yr vs 0.33%/yr for CSUK.L.

Performance

IESG.L vs. CSUK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe SRI UCITS ETF (IESG.L) and iShares MSCI UK UCITS ETF (Acc) (CSUK.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IESG.L having a 6.07% return and CSUK.L slightly higher at 6.12%. Both investments have delivered pretty close results over the past 10 years, with IESG.L having a 8.90% annualized return and CSUK.L not far behind at 8.76%.

IESG.L

• 1D: 0.99%
• 1M: 3.90%
• YTD: 6.07%
• 6M: 7.58%
• 1Y: 8.35%
• 3Y*: 7.12%
• 5Y*: 5.54%
• 10Y*: 8.90%

CSUK.L

• 1D: 0.14%
• 1M: 1.60%
• YTD: 6.12%
• 6M: 8.42%
• 1Y: 21.11%
• 3Y*: 14.48%
• 5Y*: 12.04%
• 10Y*: 8.76%

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

IESG.L vs. CSUK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IESG.L iShares MSCI Europe SRI UCITS ETF	6.07%	8.44%	0.88%	14.27%	-9.89%	18.85%	9.51%	22.59%	-6.20%	15.83%
CSUK.L iShares MSCI UK UCITS ETF (Acc)	6.12%	25.26%	8.91%	6.86%	7.23%	18.18%	-13.09%	16.20%	-9.39%	11.89%

Correlation

The correlation between IESG.L and CSUK.L is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since May 11, 2011	0.73

The correlation between IESG.L and CSUK.L has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.

IESG.L vs. CSUK.L - Sectors Allocation Comparison

Sectors	IESG.L	CSUK.L
Financial Services	23.1%	25.2%
Industrials	20.5%	12.7%
Healthcare	13.4%	14.6%
Technology	12.5%	0.6%
Consumer Defensive	9.4%	13.5%
Consumer Cyclical	6.6%	4.2%
Basic Materials	5.3%	9.7%
Utilities	4.2%	5.1%
Communication Services	3.7%	2.5%
Real Estate	1.4%	0.6%
Energy	-	11.2%

Return for Risk

IESG.L vs. CSUK.L — Risk / Return Rank

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

IESG.L

IESG.L Risk / Return Rank: 20
IESG.L Sharpe Ratio Rank: 20
IESG.L Sortino Ratio Rank: 20
IESG.L Omega Ratio Rank: 20
IESG.L Calmar Ratio Rank: 19
IESG.L Martin Ratio Rank: 21

CSUK.L

CSUK.L Risk / Return Rank: 54
CSUK.L Sharpe Ratio Rank: 56
CSUK.L Sortino Ratio Rank: 56
CSUK.L Omega Ratio Rank: 58
CSUK.L Calmar Ratio Rank: 49
CSUK.L Martin Ratio Rank: 50

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.

IESG.L vs. CSUK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF (IESG.L) and iShares MSCI UK UCITS ETF (Acc) (CSUK.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.

	IESG.L	CSUK.L	Difference
Sharpe ratio: Return per unit of total volatility	0.65	1.88	-1.23
Sortino ratio: Return per unit of downside risk	1.00	2.63	-1.63
Omega ratio: Gain probability vs. loss probability	1.12	1.35	-0.23
Calmar ratio: Return relative to maximum drawdown	0.73	2.36	-1.63
Martin ratio: Return relative to average drawdown	2.41	8.29	-5.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IESG.L vs. CSUK.L - Sharpe Ratio Comparison

The current IESG.L Sharpe Ratio is 0.65, which is lower than the CSUK.L Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of IESG.L and CSUK.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.

Sharpe Ratios by Period

	IESG.L	CSUK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	1.88	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.94	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.58	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.49	+0.02

Drawdowns

IESG.L vs. CSUK.L - Drawdown Comparison

The maximum IESG.L drawdown since its inception was -25.95%, smaller than the maximum CSUK.L drawdown of -34.55%. Use the drawdown chart below to compare losses from any high point for IESG.L and CSUK.L.

Drawdown Indicators

	IESG.L	CSUK.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.95%	-34.55%	+8.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.32%	-8.91%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	-15.07%	-12.65%	-2.42%
Max Drawdown (5Y) Largest decline over 5 years	-20.77%	-12.65%	-8.12%
Max Drawdown (10Y) Largest decline over 10 years	-25.95%	-34.55%	+8.60%
Current Drawdown Current decline from peak	0.00%	-4.04%	+4.04%
Average Drawdown Average peak-to-trough decline	-4.72%	-4.72%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.54%	+0.92%

Volatility

IESG.L vs. CSUK.L - Volatility Comparison

The current volatility for iShares MSCI Europe SRI UCITS ETF (IESG.L) is 3.93%, while iShares MSCI UK UCITS ETF (Acc) (CSUK.L) has a volatility of 4.34%. This indicates that IESG.L experiences smaller price fluctuations and is considered to be less risky than CSUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IESG.L	CSUK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	4.34%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	10.43%	9.72%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	11.17%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	12.74%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	15.07%	-0.23%

IESG.L vs. CSUK.L - Expense Ratio Comparison

IESG.L has a 0.20% expense ratio, which is lower than CSUK.L's 0.33% expense ratio.

Dividends

IESG.L vs. CSUK.L - Dividend Comparison

Neither IESG.L nor CSUK.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IESG.L and CSUK.L in my portfolio?

IESG.L and CSUK.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IESG.L or CSUK.L?

On fees, IESG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IESG.L or CSUK.L?

IESG.L is cheaper with a 0.20% expense ratio, compared with 0.33% for CSUK.L.

What is the main difference between IESG.L and CSUK.L?

IESG.L is categorized as ESG, while CSUK.L is Europe Equities. IESG.L tracks MSCI Europe SRI Select Reduced Fossil Fuel Index, while CSUK.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.20% for IESG.L and 0.33% for CSUK.L.